Multiexperience Development Platforms Market: A Comprehensive Analysis of Key Players and Industry Trends

the global multiexperience development platforms market is projected to grow from USD 2.7 billion in 2022 to USD 7.2 billion by 2027 at a compound annual growth rate (CAGR) of 21.8% during the forecast period. The major factors driving the growth of the multiexperience development platforms market include the increasing need for rapid customization and scalability.

Get Sample of Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=11136868

Platforms segment to account for larger market during the forecast period

As the number of devices, apps, and interaction modes grows, so will the demand for multiexperience development platforms. These platforms enable businesses to create web and mobile apps and voice, Augmented Reality (AR), chat, and wearable experiences, on a single platform that can be deployed across multiple devices. The COVID-19 pandemic has demonstrated that all enterprises require a technology platform that allows for rapid change. Several industries suffered significant losses, including manufacturing, tourism, and e-commerce, but mobile app development firms were operating at full capacity. Platforms, such as chatbots, AR, and VR devices, enable people to obtain information from machines in a natural, conversational manner via text and voice. The current global population using a smartphone is 6.6 billion. It means roughly 83.4% of the world's population owns a smartphone. In the second half of 2020, almost 1.3 million wearables were purchased.

Cloud deployment type to record highest growth during forecast period

Cloud platforms enable customers to simplify application extension development, optimize business processes, and accelerate business value for intelligent enterprises. Customers expect consistent, personalized, and unified digital experiences across multisensory touchpoints and modalities. Cloud platforms aid in the digitalization and mobilization of supply chains to refine processes, improve teamwork, and foster enterprise cohesion. They also enable customers to create modern web and mobile apps, as well as chatbots for a variety of applications. Many companies support development by offering low-code tools for citizen developers and professional and cloud-native developer tools that support native architectures, cross-platform app architectures, and web-based app architectures. Many applications can be deployed on any cloud and benefit from continuous delivery and DevOps capabilities. The open-source foundation optimizes resource provisioning and speed, reducing time-to-market and increasing margins. Companies assist with deploying APIs or apps on any cloud, private, public, hybrid, on-premise, or traditional server. A cloud-agnostic approach provides multi-cloud visibility and management, auto-healing, and scalability with low overhead infrastructure.

North America projected to account for largest market during forecast period

North America is a mature market with growing technological advancements. Significant companies, such as Oracle, Salesforce, Microsoft Corporation, IBM, and ServiceNow, contribute to the region's prominence. Several multiexperience development platforms aid in developing fit-for-purpose apps that work across various digital touchpoints, including mobile, wearables, web, chatbots, AR, and VR. Multiexperience apps are created using platforms, such as IBM, Microsoft, Appian, GeneXus, Oracle, Outsystems, Pega, Progress, Salesforce SAP, and Kony.

North America has the highest adoption rate of multiexperience development platforms due to the presence of numerous small, medium-sized, and large businesses in the region. This region has huge BFSI and IT markets, which is the major driving factor for multiexperience development platforms. Increased demand for multiexperience development platforms in mid-size enterprises is expected to support segmental growth. Over the forecast period, the region is expected to see significant growth opportunities. The large presence of prominent players in the region is a major factor driving the massive growth of the multiexperience development platforms market.

View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/multiexperience-development-platforms-market-11136868.html

Market Players

Some prominent players across all service types profiled in the multiexperience development platforms market study include Salesforce (US), SAP (Germany), Outsystems (US), Oracle (US), Microsoft (US), Mendix (US), Pegasystems (US), Progress (US), IBM (US), and ServiceNow (US).

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.

630 Dundee Road

Suite 430

Northbrook, IL 60062

USA: +1-888-600-6441

Email: sales@marketsandmarkets.com

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.



The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.



Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

This release was published on openPR.