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Mobile Device Penetration Driving Growth In Multiexperience Development Platforms Market: Powering Innovation and Expansion in the Global Multiexperience Development Platforms Market by 2025
Multiexperience Development Platforms Market
Multiexperience Development Platforms Market Size Growth Forecast: What to Expect by 2025?
The market size of multiexperience development platforms has seen a significant expansion in recent years. The market is projected to increase from $8.61 billion in 2024 to $10.52 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 22.3%. Factors contributing to this growth during the historic period include the rising demand for operational efficiency, minimization of security risks, heightened need for app development along with a growing requirement for swift customization and scalability, and an increased desire to generate a rich and interconnected user experience.
How Will the Multiexperience Development Platforms Market Size Evolve and Grow by 2029?
The market size for multiexperience development platforms is anticipated to undergo a surge in the coming years, expanding to a worth of $22.42 billion in 2029 with a compound annual growth rate (CAGR) of 20.8%. Factors contributing to this projected growth during the forecast period include the proliferating usage of mobile devices and internet, increased digital adoption across industries, and a rising number of devices leading to a greater demand for low-code application development. The period is also expected to see key trends such as a growing demand for Machine Learning technologies, Virtual Reality (VR) and Augmented Reality (AR), an increase in investments, the emergence of wearable devices, software based on Natural Language, user experience software, and technological progress in product innovation.
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What Drivers Are Propelling the Growth of Multiexperience Development Platforms Market Forward?
The expansion of the multi-experience development platform market is anticipated to be accelerated by the increasing use of mobile devices. This adoption is fuelled by the popularity of social media platforms and the necessity for immediate communication. The use of multi-experience development platforms can drastically enhance the reach of mobile devices by offering a cohesive, efficient, and flexible method of application development across a range of devices and channels. For example, a study by Uswitch Limited, a UK-based online and telephone comparison and switching service, in February 2023 revealed an increase of 3.8% from the previous year, totalling 71.8 million active mobile connections in 2022. Furthermore, by 2025, the UK's population is expected to reach 68.3 million. As such, the escalating use of mobile devices is propelling the expansion of the multi-experience development platform market.
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Which Emerging Trends Are Transforming the Multiexperience Development Platforms Market in 2025?
Leading businesses in the multi-experience development platforms market are creating sophisticate platforms such as digital multi-experience platforms, to offer customers more advanced features. A digital multi-experience platform, or MXDP, is a special software solution that allows organizations to create, control, and distribute diverse digital experiences across various channels, devices, and interaction methods. For example, in March 2022, Finland-based software firm Tecnotree and Nigeria-based mobile telecom business MTN Nigeria unveiled the Tecnotree Moments multi-experience platform. The introduction of this digital multi-experience platform by MTN Nigeria, in partnership with Tecnotree Moments, represents an important step toward creating lifestyle packages of content, applications, and connectivity via a pre-integrated digital partner ecosystem. This platform is designed for sectors such as education, entertainment, gaming, sports, health, and wellness, and it provides a robust collection of digital services and lifestyle bundling products. The platform features multiplayer online e-sports tournaments, Africa's most popular arcade games, engaging and immersive educational material, live lessons, and a Massive Online Open Curriculum (MOOC) for career advancement.
What Are the Key Segments in the Multiexperience Development Platforms Market?
The multiexperience development platformsmarket 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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Who Are the Key Players Shaping the Multiexperience Development Platforms Market's Competitive 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.
What Geographic Markets Are Powering 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.
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