Digital Experience Platform Market 2021 Is Rapidly Increasing Worldwide in Near Future | Top Companies Analysis- Adobe Inc., Oracle Corporation, SAP SE, IBM Corporation, Microsoft Corporation

Latest research on Digital Experience Platform Market report covers forecast and analysis on a worldwide, regional and country level. The study provides historical information of 2015-2021 together with a forecast from 2021 to 2026 supported by both volume and revenue (USD million). The entire study covers the key drivers and restraints for the Digital Experience Platform market. this report included a special section on the Impact of COVID19. Also, Digital Experience Platform Market (By major Key Players, By Types, By Applications, and Leading Regions) Segment’s outlook, Business assessment, Competition scenario and Trends. The report also gives 360-degree overview of the competitive landscape of the Digital Experience Platform industry.

Digital Experience Platform market is growing at a CAGR of  12.7% during the forecast period (2021-2026).

The Digital Experience Platform market is highly competitive and consists of a number of major players. Top Companies like Adobe Inc., Oracle Corporation, SAP SE, IBM Corporation, Microsoft Corporation, Salesforce.com Inc., OpenText Corporation, SDL PLC, Sitecore, Acquia

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Industry News And Developments:

- March 2020 : SAP SE collaborated with Accentur to launch a co-developed platform for the oil and gas industry. The platform is based on the SAP S/4HANA cloud and will reduce the operational complexity of the upstream oil and gas sector. This will help the company to enhance the customer base and market share of the company.

- January 2020 : Adobe launched Adobe Experience Manager as a cloud service, this application will offer SaaS-like speed and customization to enterprises. It will also provide content and personalization, data and insights, and commerce and advertising solutions.

Scope of the Report

- The capability of DXPs to collect and analyze the customer buying behavior and unify customer data obtained from multiple touchpoints to create a centralized view is also a significant factor driving the market growth. Moreover, integration of emerging technologies, such as Artificial Intelligence (AI), big data, and Machine Learning (ML) have enabled vital solution providers to upgrade their DXs, thereby driving the demand for digital experience platforms across multiple applications.

- However, rapidly evolving DXP technologies, the integration issues with legacy business processes and infrastructure, and reluctance to upgrade to customer-oriented marketing and communication strategies are the significant challenges impacting the growth of the DXP market. Furthermore, the lack of an experienced workforce to manage multiple solutions as part of the DXPs is a considerable concern for SMEs and startups.

Key Market Trends

On Cloud Deployment to Drive the Market Growth

- The cloud-based segment for the market to account for the highest CAGR during the forecast period due to the growing preference for cloud-based DXPs due to the rapid deployment capability and reduced investments in physical infrastructure.

- Owing to their wide-ranging benefits, Various enterprises prefer cloud services. For instance, Small and Medium Enterprises (SMEs) adopt the cloud model, as it helps reduce initial IT costs, such as the costs of hardware setup and power consumption, and requires less physical space. Large enterprises can benefit from cloud services, as they can host their large number of applications in the cloud network, which eases application management.

Asia-Pacific to Witness Highest Growth

- The region is projected to witness the highest growth during the forecast period due to the widespread adoption of emerging technologies, such as cloud computing, Artificial Intelligence (AI), and analytics. Moreover, the presence of growing economies such as China and India, which are rapidly implementing the latest technologies, is also expected to contribute to the growth of the DXP market in the region.

- Owing to the growing consumer preference coupled with the high adoption of web and mobile shopping applications in developing countries such as India and China, the companies operating in the regional market are further fueling the adoption of DXPs

- The rapid growth of online retailing is also fueling the demand for DXPs in the region. Furthermore, the well-established presence of Information Technology Enabled Service (ITES) and software companies in countries like India, China, Singapore, Japan, and South Korea are also anticipated to facilitate the cost-effective deployment of DXPs.

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What are the market factors that are explained in the report?

–Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.

–Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

–Analytical Tools: Digital Experience Platform Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market. 

The research includes historic data from 2015 to 2020 and forecasts until 2026 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.

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