Press release
Top Factor Driving Multiexperience Development Platforms Market Growth in 2025: Mobile Device Penetration Driving Growth In Multiexperience Development Platforms Market
Multiexperience Development Platforms Market Size
The surge in mobile device usage is anticipated to fuel the expansion of the multi-experience development platform market. This rise in the use of mobile devices is triggered by the popularity of social media platforms and the necessity for immediate communication. Employing multi-experience development platforms can considerably enhance the spread of mobile devices by offering a unified, efficient, and flexible method for app development across a variety of devices and channels. For example, as per a report by Uswitch Limited, a UK-based comparison and switching service available online and over the phone, in February 2023, there were 71.8 million active mobile connections in 2022, which is a 3.8% increment from the previous year. Furthermore, it is predicted that by 2025, the UK's population will hit 68.3 million. Hence, the increasing prevalence of mobile devices is fostering the expansion of the multi-experience development platform market.
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How will the growth rate of the multiexperience development platforms market shape industry trends by 2034?
There has been remarkable growth in the market size for multiexperience development platforms in the past few years. Expected to expand from $8.61 billion in 2024 to $10.6 billion in 2025, this signifies a compound annual growth rate (CAGR) of 23.2%. Factors driving the growth during the historic period include an increased need for operational efficiency, reduction in security risks, a growing demand for app development, a rising need for quick customization and scalability and a growing desire to establish a rich and interconnected user experience.
Expectations are high for the multiexperience development platforms market as it's projected to experience remarkable expansion in the upcoming years. By 2029, it's predicted to soar to a value of $24.07 billion, propelled by a compound annual growth rate (CAGR) of 22.8%. The impending rise during the projection period can be linked to factors such as escalating mobile device penetration, growing internet use, the continuing digital transformation across various industries, an increasing device count, and an amplified need for low-code application development. The forecast period is set to see trends like rising demand for Machine Learning technologies, Virtual Reality (VR), and Augmented Reality (AR), an upsurge in investments, the evolution of wearable devices, Natural Language-based software, user experience software, along with technological advancements and product innovation.
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What trends are poised to drive the future success of the multiexperience development platforms market?
Prominent multi-experience development platforms market players are innovating with the creation of sophisticated platforms like digital multi-experience platforms to cater to customers with more updated features. Defined as a software solution, a digital multi-experience platform (MXDP) facilitates businesses in crafting, managing, and providing a range of digital experiences across distinct channels, gadgets, and interaction modes. In a recent example from March 2022, a partnership between Tecnotree, a software firm based in Finland, and MTN Nigeria, a Nigerian mobile telecom firm, saw the launch of the Tecnotree Moments multi-experience platform. This release, facilitated by MTN Nigeria together with Tecnotree Moments, is a significant progress, designed to form lifestyle package of content, apps, and connectivity via an integrated digital partner network. The platform caters to diverse sectors including education, entertainment, sports, gaming, health, and wellness, by serving as a portal for digital services and lifestyle product bundling. Its offerings entail multiplayer online e-sports tournaments, Africa's most played arcade games, immersive educational materials, live teaching sessions, and Massive Online Open Curriculum (MOOC) for career advancement.
Which primary segments of the multiexperience development platforms market are driving growth and industry transformations?
The multiexperience development platforms market covered in this report is segmented -
1) By Component: Platforms, Services
2) By Deployment: On-Premises, Cloud
3) By Organization Size: Small And Medium-Sized Enterprises, Large Enterprises
4) By Application: Banking, Financial Services And Insurance (BFSI), IT And Telecommunication, Government And Public Sector, Manufacturing, Retail And Consumer Goods, Healthcare, Media And Entertainment, Other Applications
Subsegments:
1) By Platforms: Cloud-Based Platforms, On-Premise Platforms
2) By Services: Consulting Services, Integration Services, Support And Maintenance Services, Training And Education Services
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Which geographical regions are pioneering growth in the multiexperience development platforms market?
North America was the largest region in the multiexperience development platforms market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the multiexperience development platforms market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Who are the influential players reshaping the multiexperience development platforms market landscape?
Major companies operating in the multiexperience development platforms market are Microsoft Corporation, Amazon Web Services, Tencent Holdings Ltd., Siemens AG, International Business Machines Corporation, Cisco Systems Inc., Oracle Corporation, SAP SE, Salesforce Inc., HCL Technologies Limited, ServiceNow Inc., Globant SA, Pegasystems Inc., Zoho Corporation, Temenos AG, Progress Software, Cigniti Inc., Appian Corporation, Easy Software Inc., Outsystems Inc., Mendix, Decimal Technologies, GeneXus SA, Neutrinos, Neptune Software, Convertigo SA, XOne Technology Inc.
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What Is Covered In The Multiexperience Development Platforms Global Market Report?
•Market Size Forecast: Examine the multiexperience development platforms market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the multiexperience development platforms market for a structured understanding.
•Key Players Overview: Analyze major players in the multiexperience development platforms market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the multiexperience development platforms market.
•Segment Contributions: Evaluate how different segments drive overall growth in the multiexperience development platforms market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the multiexperience development platforms market.
•Industry Challenges: Identify potential risks and obstacles affecting the multiexperience development platforms market.
•Competitive Landscape: Review strategic developments in the multiexperience development platforms market, including expansions, agreements, and new product launches.
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