Ability of Digital Experience Platforms to Integrate CRM, Analytics, and Marketing Automation Leading to Deepening Customer Insights: Fact.MR Report

ROCKVILLE, MD, UNITED STATES, July 8, 2024 /EINPresswire.com/ -- According to a recently updated industry report by Fact.MR, the global digital experience platform market is set to reach US$ 13.85 billion in 2024 and is forecasted to expand at a CAGR of 11.2% from 2024 to 2034.

Digital experience platforms are integrating a range of technologies to deliver omnichannel, personalized, and consistent experiences across web, mobile, social, and other digital touchpoints. A variety of marketing technologies, such as CRM, analytics, marketing automation, and content management systems, are compatible with digital experience platforms. This integration increases campaign effectiveness, streamlines workflows, and enhances data sharing.

As a result of digital experience platforms, organizations are scaling their digital initiatives and quickly adapting to shifting market conditions. Cloud-based DXPs' scalability and flexibility allow businesses to swiftly introduce updates and new features. An increasing reliance on providing exceptional customer experiences is driving the growth of the market for digital experience platforms. In today's competitive economy, companies across various sectors are realizing the value of customer loyalty and satisfaction.

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Key Takeaways from Market Study
The global market for digital experience platforms is projected to expand at a CAGR of 11.2% from 2024 to 2034. The market for digital experience platforms is forecasted to climb to US$ 4.04 billion by the end of 2034. The market in the United States is poised to reach a value of US$ 3.79 billion in 2024. China is set to occupy a market share of 48.9% in East Asia in 2024.

Revenue from digital experience platform sales in Japan is evaluated to reach US$ 2.94 billion by the end of 2034. The market in North America is forecasted to expand at a CAGR of 10.3% through 2034.

“Digital experience platforms are essential to providing businesses with tailored and consistent experiences across a variety of touchpoints, such as social media, mobile apps, and websites. Cloud-based DXPs offer scalability and flexibility, enabling organizations to scale their digital initiatives rapidly,” says a

Fact.MR analyst.
Rising Apprehensions Regarding Privacy and Data Security
Growing concerns about data privacy and security pose a significant challenge for most players in the global and regional digital experience platform markets. The enormous volumes of customer data made available by digital experience analytics platforms are expected to give rise to legal challenges that may impede the market's growth trajectory.

Regional Analysis
The United States is poised to hold a digital experience platform market share of 72% in North America in 2024. Deeper integration with AI and machine learning, improvements in real-time data analytics, and a stronger focus on providing hyper-personalized experiences are in store for DXPs in the United States going forward. DXPs are essential in helping organizations maintain their competitiveness in the digital landscape as digital transformation quickens.

Top Key Players are Adobe, IBM, Oracle, SAP, Microsoft, Salesforce, Opentext, Squiz, Sitecore, Acquia.

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Competitive Landscape
Key players in the digital experience platform industry are adopting key strategies that include long-term agreements with the end users to provide operational as well as maintenance services for their digital experience portals. The market for digital experience platforms is characterized by a diverse array of competitors vying for market share in this rapidly evolving industry. By offering unique capabilities, up-and-coming entrepreneurs, rival technology conglomerates, and niche market entrants all increase the level of competition in the market.

Sitecore Experience Manager Cloud, the first wholly cloud-native content management system (CMS), was released in October 2021. Its integration friendliness, design flexibility, and authoring experience enable business users to create and deliver personalized digital experiences.

With this new addition to the Sitecore Digital Experience Platform (DXP), Sitecore presents its first Software as a Service (SaaS) offering, revolutionizing the way modern businesses are supported by content, experience orchestration, commerce, and analytics. The company has also announced a range of new product updates that incorporate recent acquisitions, as well as a subscription-based learning resource.

More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the digital experience platform market for 2018 to 2023 and forecast statistics for 2024 to 2034.
The study divulges the digital experience platform market based on component (platform, services), deployment (on-premise, cloud), and vertical (IT & telecom, BFSI, retail, healthcare, manufacturing, travel & hospitality, media & entertainment, public sector), across seven major regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia & Pacific, and MEA).

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