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Digital Experience Platform Market

Digital Experience Platform Market Size by Component (Platform, and Services), By Deployment Mode (On-Premise, and Cloud), By Organization Size (SMEs and Large Enterprises), By Industry (BFSI, IT & Telecommunication, Healthcare, Retail and Other Industry Verticals), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2023 to 2032

Base Year: 2022 Historical Data: 2019-21
  • Report ID: TBI-13695
  • Published Date: Sep, 2023
  • Pages: 232
  • Category: Information Technology & Semiconductors
  • Format: PDF
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The global digital experience platform market was valued at USD 11.30 billion in 2022 and is anticipated to grow at a CAGR of 12.2% from 2023 to 2032. The digital experience platform (DXP), a new paradigm that has transformed how businesses connect with their customers in the constantly changing world of digital technology, has evolved. An integrated set of tools, technologies, and solutions known as the digital experience platform (DXP) enables businesses to design, optimize, and improve seamless digital experiences across various channels and touchpoints. This all-encompassing platform goes above and beyond conventional custom management systems by providing a comprehensive strategy for boosting user engagement, developing brand loyalty, and promoting company expansion.

Market Introduction:

A robust content management system (CMS) that serves as the base for the existing digital platform ecosystem. This content management system is considered the core of a digital enterprise platform. Organizations can effectively manage and deliver digital content, such as text, images, videos, and interactive applications, across various devices and platforms owing to this content management system. In response to the growing need for personalized experiences, digital experience platforms integrate consumer data, preferences, and behaviours, enabling businesses to customize content and interactions for specific customers and improve the user experience. Digital experience platforms may create personal experiences that connect with specific consumers, and this is where their USP lies. The digital experience platforms allow business enterprises to comprehend consumer behaviour and preferences by combining data analytics, AI-driven insights, and machine learning algorithms. With this insight, businesses can develop interactions and content tailored to their target audiences, resulting in better engagement, longer session lengths, and higher conversion rates. An e-commerce DXP, for instance, can increase the possibility of a sale by recommending products based on a user's browsing history, prior purchases, and demographic data. Business enterprises must adopt strategies that foster sincere interaction and mutually beneficial relationships with their customers in the digital age, where customer expectations are continuously changing and higher than ever. The digital experience platform (DXP) is the key to achieving this objective, which gives businesses the tools to design, maintain, and improve digital experiences that connect with customers across the globe.

Digital Experience Platform Market Size

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Recent Development
  • In January 2021: Hyperforce, a reimagining of Salesforce's architecture created to deliver Salesforce services in a multi-tenant environment on significant public clouds, was launched by Salesforce. Owing to this advancement, customers may now use public cloud infrastructures' scalability, flexibility, and security for their digital experience efforts.
  • In April 2021: The leading work management platform, Workfront, was successfully acquired by Adobe. By combining Workfront's project management capabilities with Adobe Experience Cloud, this acquisition expands Adobe's DXP services and enables businesses to automate and improve their digital experience workflows.

Market Dynamics:

Drivers

Enhanced Customer Experience - The growing focus on personalized user experiences is one of the factors fueling the growth of the digital experience platform industry. Businesses know that generic technology no longer works in the modern world because consumers are accustomed to personalized advice and content. Digital experience platforms use advanced data analytics, AI, and machine learning to gain information from user preferences and behaviours. Organizations may give highly personalized content, product recommendations, and interactions that relate to specific users by using this data. As a result, users feel engaged and valued, boosting conversion rates, customer happiness, and brand loyalty. Real-time optimization of digital experiences is necessary due to the continuous evolution of user expectations. Digital experience platforms offer analytical tools that focus on user interactions and behaviour. Businesses can utilize this information to pinpoint user needs, demands and expectations for improvement. Organizations may iteratively improve their digital experiences, ensuring they remain valuable and efficient, by doing A/B testing, developing personal recommendations, and modifying user experiences based on data-driven insights. This primary factor is boosting the market growth and development.

Restraints:

High Initial Costs and Complexity associated with the Implementation - The complexity of installing a digital experience platform is one of the main constraints. Integrating a digital enterprise platform into an organization's infrastructure and processes can be difficult and time-consuming. Technical difficulties for businesses frequently include data migration, system compatibility, and interaction with legacy applications. Some organizations are reluctant to adopt digital enterprise platforms due to the complexity of deployment, which can cause delays and additional expenses. For many companies, the initial investment needed to acquire and operate a digital enterprise platform can be a significant hurdle. Digital enterprise platforms frequently require licensing fees, modification costs, and costs for integration and training. The initial expenses may be too expensive for small and medium-sized businesses (SMEs) and startups, causing them to choose different solutions or postpone the implementation of the digital enterprise platform until they have the required funds.

Opportunities:

Advent of E-commerce Platforms - Digital experience platforms are crucial to developing e-commerce because they change how companies approach customers' online purchasing experiences. As online shopping grows, consumers expect easy-to-use navigation, customized product recommendations, and simple checkout processes. Business enterprises may meet these needs owing to the seamless enterprise functionality integration provided by digital enterprise platforms. Digital experience platforms enable businesses to optimize the online shopping experience, resulting in higher conversion rates and improved revenue creation. The platform does this by analyzing user interactions and purchase trends. Superior digital experiences have become differentiators in a time of increased competition. Businesses understand that investing in digital experience platforms helps them bring in new clients and keep their current ones. Favourable digital interactions encourage customer advocacy and repeat business, which leads to favourable word-of-mouth recommendations. As businesses focus on customer-centric initiatives, Digital experience platforms become essential for creating long-term customer relationships and sustaining brand loyalty. This factor is expected to provide lucrative growth opportunities in the upcoming years.

Regional segmentation analysis:

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. North America region emerged as the most prominent global digital experience platform market, with a 39.0% market revenue share in 2022. The region is considered the early adopter of drone technology due to the presence of the key players. In order to improve their sales performance, business enterprises in North America are actively implementing a range of strategies to gather and analyze consumer feedback through digital platforms. This aspect offers promising market potential for regional companies engaged in offering digital experience platforms. The adoption of digital experience platforms in North America is significantly influenced by the growing preference for cloud solutions, particularly among small and medium-sized organizations (SMEs). Better business efficiency, cost-effectiveness, and flexibility are all features of cloud solutions that align with the consumers' changing needs. The regional market players also use various market strategies such as product innovation, product differentiation, mergers, acquisitions, partnerships, and strategic alliances to maintain their competitive edge.

North America Region Digital Experience Platform Market Share in 2022 - 39.0%

 

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  • In March 2022: Global Payments Inc. and Virgin Money struck an agreement to use Global Payments Inc.'s innovative two-sided network to provide market-leading digital payments experiences to Virgin Money clients worldwide.
Component Segment Analysis

The component segment includes platform and services. The platform segment accounted for the largest market share of around 58% in 2022. The aggressive efforts made by business enterprises to provide integrated, customized, and optimized user interaction and experience across numerous marketing channels can be attributable to the segment's growth. These initiatives are driving the demand for digital enterprise platform solutions. To increase corporate efficiency, digital experience platforms (DXP) can provide customers with thoughtful and personal digital experiences. To earn income and fulfil the strong emphasis on offering high-quality digital experiences, vendors in the market are increasingly adopting outcome-based business models.

Deployment Mode Segment Analysis

The deployment mode segment is bifurcated into cloud and on-premises. The on-premises segment dominated, with a market share of around 52% in 2022. The segment's expansion can be attributable to companies' aggressive efforts to provide integrated, customized, and optimized user interaction and experience across various marketing channels. These initiatives are driving the demand for solutions for the digital enterprise platform. Digital experience platforms (DXP) offer the ability to provide customers with thoughtful and personal digital experiences, helping organizations become more efficient. As a means of generating income and satisfying the high priority placed on providing high-quality digital experiences, vendors in the industry are increasingly embracing outcome-based business models.  

Organization Size Segment Analysis

The organization size segment is divided into SMEs and large enterprises. The large enterprises segment dominated the market, with a market share of around 60% in 2022. Large businesses have always led the way in adopting digital experience platforms due to their abundant resources and extensive digital activities. These enterprises use digital experience platforms to embed customer data, customize interactions, and provide consistent experiences across many touch points. Large businesses frequently need sophisticated, highly specialized solutions to serve their wide range of customers and expand the digital ecosystem. This is the primary factor for the segment growth.

Industry Segment Analysis

The end-user segment is classified into BFSI, IT & telecommunication, healthcare, retail and other industry verticals. The retail segment dominated the market, with a share of around 33% in 2022. The segment's growth can be attributed to both the rising rate of internet use and the rising popularity of mobile apps for making purchases and other relevant decisions. Additionally, enterprises use web applications and digital communications to attract new customers while retaining old ones. To drive total business process optimization, digital transformation in the retail sector requires the continual integration of marketing, inventory, customer service, pricing, and supply chain activities. These elements fulfil the retail sector's need for digital experience platform solutions during the project phase.

Some of the Key Market Players:
  • Oracle
  • Adobe
  • SAP SE
  • Salesforce Inc.
  • Microsoft
  • censhare GmbH
  • IBM
  • Kentico Software
  • Bloomreach, Inc.
  • Optimizely
  • Liferay, Inc.
  • Acquia Inc.

Report Description: 

Attribute Description
Market Size Revenue (USD Billion)
Market size value in 2022 USD 11.30 Billion
Market size value in 2032 USD 35.73 Billion
CAGR (2023 to 2032) 12.2%
Historical data 2019-2021
Base Year 2022
Forecast 2023-2032
Region The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level.
Segments Component, Organization Size, Deployment Mode, Industry

Frequesntly Asked Questions

As per The Brainy Insights, the size of the digital experience platform market was valued at USD 11.30 billion in 2022 to USD 35.73 billion by 2032.

The global digital experience platform market is growing at a CAGR of 12.2% during the forecast period 2023-2032.

North America region became the largest market for digital experience platform.

Enhanced customer experiences, and the need for data driven analytics are influencing the market's growth.

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  • Segmentation on the basis of any specific country or region
  • Any segment can be classified on the basis of application
  • Application segment can be further divided on the basis of companies
  • The companies profiled are not limited, we can incorporate additional companies of your choice
  • We can split the company market share on the basis of product, application and region
  • Report can be prepared for any specific country/region/segment
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1. Introduction
    1.1. Objectives of the Study
    1.2. Market Definition
    1.3. Research Scope
    1.4. Currency
    1.5. Key Target Audience

2. Research Methodology and Assumptions

3. Executive Summary

4. Premium Insights
    4.1. Porter’s Five Forces Analysis
    4.2. Value Chain Analysis
    4.3. Top Investment Pockets
          4.3.1. Market Attractiveness Analysis by Component
          4.3.2. Market Attractiveness Analysis by Industry
          4.3.3. Market Attractiveness Analysis by Deployment Mode
          4.3.4. Market Attractiveness Analysis by Organization Size
          4.3.5. Market Attractiveness Analysis by Region
    4.4. Industry Trends

5. Market Dynamics
    5.1. Market Evaluation
    5.2. Drivers
          5.2.1. Enhanced Customer Experience
    5.3. Restraints
          5.3.1. High Initial Costs and Complexity associated with the Implementation
    5.4. Opportunities
          5.4.1. Advent of E-commerce Platforms

6. Global Digital Experience Platform Market Analysis and Forecast, By Component
    6.1. Segment Overview
    6.2. Platform
    6.3. Services

7. Global Digital experience platform Market Analysis and Forecast, By Industry
    7.1. Segment Overview
    7.2. BFSI
    7.3. Retail
    7.4. IT & Telecommunication
    7.5. Healthcare
    7.6. Other Industry Verticals

8. Global Digital experience platform Market Analysis and Forecast, By Deployment mode
    8.1. Segment Overview
    8.2. Cloud
    8.3. On-premises

9. Global Digital experience platform Market Analysis and Forecast, By Organization size
    9.1. Segment Overview
    9.2. SMEs
    9.3. Large Enterprises

10. Global Digital experience platform Market Analysis and Forecast, By Regional Analysis
    10.1. Segment Overview
    10.2. North America
          10.2.1. U.S.
          10.2.2. Canada
          10.2.3. Mexico
    10.3. Europe
          10.3.1. Germany
          10.3.2. France
          10.3.3. U.K.
          10.3.4. Italy
          10.3.5. Spain
    10.4. Asia-Pacific
          10.4.1. Japan
          10.4.2. China
          10.4.3. India
    10.5. South America
          10.5.1. Brazil
    10.6. Middle East and Africa
          10.6.1. UAE
          10.6.2. South Africa

11. Global Digital experience platform Market-Competitive Landscape
    11.1. Overview
    11.2. Market Share of Key Players in the Digital experience platform Market
          11.2.1. Global Company Market Share
          11.2.2. North America Company Market Share
          11.2.3. Europe Company Market Share
          11.2.4. APAC Company Market Share
    11.3. Competitive Situations and Trends
          11.3.1. Product Launches and Developments
          11.3.2. Partnerships, Collaborations, and Agreements
          11.3.3. Mergers & Acquisitions
          11.3.4. Expansions

12. Company Profiles
    12.1. Oracle
          12.1.1. Business Overview
          12.1.2. Company Snapshot
          12.1.3. Company Market Share Analysis
          12.1.4. Company Product Portfolio
          12.1.5. Recent Developments
          12.1.6. SWOT Analysis
    12.2. Adobe
          12.2.1. Business Overview
          12.2.2. Company Snapshot
          12.2.3. Company Market Share Analysis
          12.2.4. Company Product Portfolio
          12.2.5. Recent Developments
          12.2.6. SWOT Analysis
    12.3. SAP SE
          12.3.1. Business Overview
          12.3.2. Company Snapshot
          12.3.3. Company Market Share Analysis
          12.3.4. Company Product Portfolio
          12.3.5. Recent Developments
          12.3.6. SWOT Analysis
    12.4. Salesforce Inc.
          12.4.1. Business Overview
          12.4.2. Company Snapshot
          12.4.3. Company Market Share Analysis
          12.4.4. Company Product Portfolio
          12.4.5. Recent Developments
          12.4.6. SWOT Analysis
    12.5. Microsoft
          12.5.1. Business Overview
          12.5.2. Company Snapshot
          12.5.3. Company Market Share Analysis
          12.5.4. Company Product Portfolio
          12.5.5. Recent Developments
          12.5.6. SWOT Analysis
    12.6. censhare GmbH
          12.6.1. Business Overview
          12.6.2. Company Snapshot
          12.6.3. Company Market Share Analysis
          12.6.4. Company Product Portfolio
          12.6.5. Recent Developments
          12.6.6. SWOT Analysis
    12.7. IBM
          12.7.1. Business Overview
          12.7.2. Company Snapshot
          12.7.3. Company Market Share Analysis
          12.7.4. Company Product Portfolio
          12.7.5. Recent Developments
          12.7.6. SWOT Analysis
    12.8. Kentico Software
          12.8.1. Business Overview
          12.8.2. Company Snapshot
          12.8.3. Company Market Share Analysis
          12.8.4. Company Product Portfolio
          12.8.5. Recent Developments
          12.8.6. SWOT Analysis
    12.9. Bloomreach, Inc.
          12.9.1. Business Overview
          12.9.2. Company Snapshot
          12.9.3. Company Market Share Analysis
          12.9.4. Company Product Portfolio
          12.9.5. Recent Developments
          12.9.6. SWOT Analysis
    12.10. Optimizely
          12.10.1. Business Overview
          12.10.2. Company Snapshot
          12.10.3. Company Market Share Analysis
          12.10.4. Company Product Portfolio
          12.10.5. Recent Developments
          12.10.6. SWOT Analysis
    12.11. Liferay, Inc.
          12.11.1. Business Overview
          12.11.2. Company Snapshot
          12.11.3. Company Market Share Analysis
          12.11.4. Company Product Portfolio
          12.11.5. Recent Developments
          12.11.6. SWOT Analysis
    12.12. Acquia Inc.
          12.12.1. Business Overview
          12.12.2. Company Snapshot
          12.12.3. Company Market Share Analysis
          12.12.4. Company Product Portfolio
          12.12.5. Recent Developments
          12.12.6. SWOT Analysis
 

List of Table

1. Global Digital experience platform Market, By Component, 2019-2032 (USD Billion)

2. Global Platform, Digital experience platform Market, By Region, 2019-2032 (USD Billion)

3. Global Services, Digital experience platform Market, By Region, 2019-2032 (USD Billion)

4. Global Digital experience platform Market, By Industry, 2019-2032 (USD Billion)

5. Global BFSI Digital experience platform Market, By Region, 2019-2032 (USD Billion)

6. Global Retail Digital experience platform Market, By Region, 2019-2032 (USD Billion)

7. Global IT & Telecommunication Digital experience platform Market, By Region, 2019-2032 (USD Billion)

8. Global Healthcare, Digital experience platform Market, By Region, 2019-2032 (USD Billion)

9. Global Other Industry Verticals Digital experience platform Market, By Region, 2019-2032 (USD Billion)

10. Global Digital experience platform Market, By Deployment mode, 2019-2032 (USD Billion)

11. Global cloud Digital experience platform Market, By Region, 2019-2032 (USD Billion)

12. Global On-premises Digital experience platform Market, By Region, 2019-2032 (USD Billion)

13. Global Digital experience platform Market, By Organization size, 2019-2032 (USD Billion)

14. Global SMEs Digital experience platform Market, By Region, 2019-2032 (USD Billion)

15. Global Large Enterprises Digital experience platform Market, By Region, 2019-2032 (USD Billion)

16. Global Digital experience platform Market, By Region, 2019-2032 (USD Billion)

17. North America Digital experience platform Market, By Component, 2019-2032 (USD Billion)

18. North America Digital experience platform Market, By Industry, 2019-2032 (USD Billion)

19. North America Digital experience platform Market, By Deployment mode, 2019-2032 (USD Billion)

20. North America Digital experience platform Market, By Organization size, 2019-2032 (USD Billion)

21. U.S. Digital experience platform Market, By Component, 2019-2032 (USD Billion)

22. U.S. Digital experience platform Market, By Industry, 2019-2032 (USD Billion)

23. U.S. Digital experience platform Market, By Deployment mode, 2019-2032 (USD Billion)

24. U.S. Digital experience platform Market, By Organization size, 2019-2032 (USD Billion)

25. Canada Digital experience platform Market, By Component, 2019-2032 (USD Billion)

26. Canada Digital experience platform Market, By Industry, 2019-2032 (USD Billion)

27. Canada Digital experience platform Market, By Deployment mode, 2019-2032 (USD Billion)

28. Canada Digital experience platform Market, By Organization size, 2019-2032 (USD Billion)

29. Mexico Digital experience platform Market, By Component, 2019-2032 (USD Billion)

30. Mexico Digital experience platform Market, By Industry, 2019-2032 (USD Billion)

31. Mexico Digital experience platform Market, By Deployment mode, 2019-2032 (USD Billion)

32. Mexico Digital experience platform Market, By Organization size, 2019-2032 (USD Billion)

33. Europe Digital experience platform Market, By Component, 2019-2032 (USD Billion)

34. Europe Digital experience platform Market, By Industry, 2019-2032 (USD Billion)

35. Europe Digital experience platform Market, By Deployment mode, 2019-2032 (USD Billion)

36. Europe Digital experience platform Market, By Organization size, 2019-2032 (USD Billion)

37. Germany Digital experience platform Market, By Component, 2019-2032 (USD Billion)

38. Germany Digital experience platform Market, By Industry, 2019-2032 (USD Billion)

39. Germany Digital experience platform Market, By Deployment mode, 2019-2032 (USD Billion)

40. Germany Digital experience platform Market, By Organization size, 2019-2032 (USD Billion)

41. France Digital experience platform Market, By Component, 2019-2032 (USD Billion)

42. France Digital experience platform Market, By Industry, 2019-2032 (USD Billion)

43. France Digital experience platform Market, By Deployment mode, 2019-2032 (USD Billion)

44. France Digital experience platform Market, By Organization size, 2019-2032 (USD Billion)

45. U.K. Digital experience platform Market, By Component, 2019-2032 (USD Billion)

46. U.K. Digital experience platform Market, By Industry, 2019-2032 (USD Billion)

47. U.K. Digital experience platform Market, By Deployment mode, 2019-2032 (USD Billion)

48. U.K. Digital experience platform Market, By Organization size, 2019-2032 (USD Billion)

49. Italy Digital experience platform Market, By Component, 2019-2032 (USD Billion)

50. Italy Digital experience platform Market, By Industry, 2019-2032 (USD Billion)

51. Italy Digital experience platform Market, By Deployment mode, 2019-2032 (USD Billion)

52. Italy Digital experience platform Market, By Organization size, 2019-2032 (USD Billion)

53. Spain Digital experience platform Market, By Component, 2019-2032 (USD Billion)

54. Spain Digital experience platform Market, By Industry, 2019-2032 (USD Billion)

55. Spain Digital experience platform Market, By Deployment mode, 2019-2032 (USD Billion)

56. Spain Digital experience platform Market, By Organization size, 2019-2032 (USD Billion)

57. Asia Pacific Digital experience platform Market, By Component, 2019-2032 (USD Billion)

58. Asia Pacific Digital experience platform Market, By Industry, 2019-2032 (USD Billion)

59. Asia Pacific Digital experience platform Market, By Deployment mode, 2019-2032 (USD Billion)

60. Asia Pacific Digital experience platform Market, By Organization size, 2019-2032 (USD Billion)

61. Japan Digital experience platform Market, By Component, 2019-2032 (USD Billion)

62. Japan Digital experience platform Market, By Industry, 2019-2032 (USD Billion)

63. Japan Digital experience platform Market, By Deployment mode, 2019-2032 (USD Billion)

64. Japan Digital experience platform Market, By Organization size, 2019-2032 (USD Billion)

65. China Digital experience platform Market, By Component, 2019-2032 (USD Billion)

66. China Digital experience platform Market, By Industry, 2019-2032 (USD Billion)

67. China Digital experience platform Market, By Deployment mode, 2019-2032 (USD Billion)

68. China Digital experience platform Market, By Organization size, 2019-2032 (USD Billion)

69. India Digital experience platform Market, By Component, 2019-2032 (USD Billion)

70. India Digital experience platform Market, By Industry, 2019-2032 (USD Billion)

71. India Digital experience platform Market, By Deployment mode, 2019-2032 (USD Billion)

72. India Digital experience platform Market, By Organization size, 2019-2032 (USD Billion)

73. South America Digital experience platform Market, By Component, 2019-2032 (USD Billion)

74. South America Digital experience platform Market, By Industry, 2019-2032 (USD Billion)

75. South America Digital experience platform Market, By Deployment mode, 2019-2032 (USD Billion)

76. South America Digital experience platform Market, By Organization size, 2019-2032 (USD Billion)

77. Brazil Digital experience platform Market, By Component, 2019-2032 (USD Billion)

78. Brazil Digital experience platform Market, By Industry, 2019-2032 (USD Billion)

79. Brazil Digital experience platform Market, By Deployment mode, 2019-2032 (USD Billion)

80. Brazil Digital experience platform Market, By Organization size, 2019-2032 (USD Billion)

81. Middle East and Africa Digital experience platform Market, By Component, 2019-2032 (USD Billion)

82. Middle East and Africa Digital experience platform Market, By Industry, 2019-2032 (USD Billion)

83. Middle East and Africa Digital experience platform Market, By Deployment mode, 2019-2032 (USD Billion)

84. Middle East and Africa Digital experience platform Market, By Organization size, 2019-2032 (USD Billion)

85. UAE Digital experience platform Market, By Component, 2019-2032 (USD Billion)

86. UAE Digital experience platform Market, By Industry, 2019-2032 (USD Billion)

87. UAE Digital experience platform Market, By Deployment mode, 2019-2032 (USD Billion)

88. UAE Digital experience platform Market, By Organization size, 2019-2032 (USD Billion)

89. South Africa Digital experience platform Market, By Component, 2019-2032 (USD Billion)

90. South Africa Digital experience platform Market, By Industry, 2019-2032 (USD Billion)

91. South Africa Digital experience platform Market, By Deployment mode, 2019-2032 (USD Billion)

92. South Africa Digital experience platform Market, By Organization size, 2019-2032 (USD Billion)

List of Figures 

1. Global Digital experience platform Market Segmentation

2. Digital experience platform Market: Research Methodology

3. Market Size Estimation Methodology: Bottom-Up Approach

4. Market Size Estimation Methodology: Top-Down Approach

5. Data Triangulation

6. Porter’s Five Forces Analysis 

7. Value Chain Analysis 

8. Global Digital experience platform Market Attractiveness Analysis by Component

9. Global Digital experience platform Market Attractiveness Analysis by Industry

10. Global Digital experience platform Market Attractiveness Analysis by Deployment mode

11. Global Digital experience platform Market Attractiveness Analysis by Organization size

12. Global Digital experience platform Market Attractiveness Analysis by Region

13. Global Digital experience platform Market: Dynamics

14. Global Digital experience platform Market Share by Component (2023 & 2032)

15. Global Digital experience platform Market Share by Industry (2023 & 2032)

16. Global Digital experience platform Market Share by Deployment mode (2023 & 2032)

17. Global Digital experience platform Market Share by Organization size (2023 & 2032)

18. Global Digital experience platform Market Share by Regions (2023 & 2032)

19. Global Digital experience platform Market Share by Company (2022)

This study forecasts revenue at global, regional, and country levels from 2019 to 2032. The Brainy Insights has segmented the global digital experience platform market based on below-mentioned segments:

Global Digital Experience Platform Market by Component:

  • Platform
  • Services

Global Digital Experience Platform Market by Deployment Mode:

  • Cloud
  • On-premises

Global Digital Experience Platform Market by Industry:

  • BFSI
  • IT & Telecommunication
  • Healthcare
  • Retail
  • Other Industry Verticals

Global Digital Experience Platform Market by Organization Size:

  • SMEs
  • Large Enterprises

Global Digital experience platform Market by Region:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
  • Asia-Pacific
    • Japan
    • China
    • India
  • South America
    • Brazil
  • Middle East and Africa  
    • UAE
    • South Africa

Methodology

Research has its special purpose to undertake marketing efficiently. In this competitive scenario, businesses need information across all industry verticals; the information about customer wants, market demand, competition, industry trends, distribution channels etc. This information needs to be updated regularly because businesses operate in a dynamic environment. Our organization, The Brainy Insights incorporates scientific and systematic research procedures in order to get proper market insights and industry analysis for overall business success. The analysis consists of studying the market from a miniscule level wherein we implement statistical tools which helps us in examining the data with accuracy and precision. 

Our research reports feature both; quantitative and qualitative aspects for any market. Qualitative information for any market research process are fundamental because they reveal the customer needs and wants, usage and consumption for any product/service related to a specific industry. This in turn aids the marketers/investors in knowing certain perceptions of the customers. Qualitative research can enlighten about the different product concepts and designs along with unique service offering that in turn, helps define marketing problems and generate opportunities. On the other hand, quantitative research engages with the data collection process through interviews, e-mail interactions, surveys and pilot studies. Quantitative aspects for the market research are useful to validate the hypotheses generated during qualitative research method, explore empirical patterns in the data with the help of statistical tools, and finally make the market estimations.

The Brainy Insights offers comprehensive research and analysis, based on a wide assortment of factual insights gained through interviews with CXOs and global experts and secondary data from reliable sources. Our analysts and industry specialist assume vital roles in building up statistical tools and analysis models, which are used to analyse the data and arrive at accurate insights with exceedingly informative research discoveries. The data provided by our organization have proven precious to a diverse range of companies, facilitating them to address issues such as determining which products/services are the most appealing, whether or not customers use the product in the manner anticipated, the purchasing intentions of the market and many others.

Our research methodology encompasses an idyllic combination of primary and secondary initiatives. Key phases involved in this process are listed below:

MARKET RESEARCH PROCESS

Data Procurement:

The phase involves the gathering and collecting of market data and its related information with the help of different sources & research procedures.

The data procurement stage involves in data gathering and collecting through various data sources.

This stage involves in extensive research. These data sources includes:

Purchased Database: Purchased databases play a crucial role in estimating the market sizes irrespective of the domain. Our purchased database includes:

  • The organizational databases such as D&B Hoovers, and Bloomberg that helps us to identify the competitive scenario of the key market players/organizations along with the financial information.
  • Industry/Market databases such as Statista, and Factiva provides market/industry insights and deduce certain formulations. 
  • We also have contractual agreements with various reputed data providers and third party vendors who provide information which are not limited to:
    • Import & Export Data
    • Business Trade Information
    • Usage rates of a particular product/service on certain demographics mainly focusing on the unmet prerequisites

Primary Research: The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. Primary research mainly involves in telephonic interviews, E-mail interactions and face-to-face interviews with the raw material providers, manufacturers/producers, distributors, & independent consultants. The interviews that we conduct provides valuable data on market size and industry growth trends prevailing in the market. Our organization also conducts surveys with the various industry experts in order to gain overall insights of the industry/market. For instance, in healthcare industry we conduct surveys with the pharmacists, doctors, surgeons and nurses in order to gain insights and key information of a medical product/device/equipment which the customers are going to usage. Surveys are conducted in the form of questionnaire designed by our own analyst team. Surveys plays an important role in primary research because surveys helps us to identify the key target audiences of the market. Additionally, surveys helps to identify the key target audience engaged with the market. Our survey team conducts the survey by targeting the key audience, thus gaining insights from them. Based on the perspectives of the customers, this information is utilized to formulate market strategies. Moreover, market surveys helps us to understand the current competitive situation of the industry. To be precise, our survey process typically involve with the 360 analysis of the market. This analytical process begins by identifying the prospective customers for a product or service related to the market/industry to obtain data on how a product/service could fit into customers’ lives.

Secondary Research: The secondary data sources includes information published by the on-profit organizations such as World bank, WHO, company fillings, investor presentations, annual reports, national government documents, statistical databases, blogs, articles, white papers and others. From the annual report, we analyse a company’s revenue to understand the key segment and market share of that organization in a particular region. We analyse the company websites and adopt the product mapping technique which is important for deriving the segment revenue. In the product mapping method, we select and categorize the products offered by the companies catering to domain specific market, deduce the product revenue for each of the companies so as to get overall estimation of the market size. We also source data and analyses trends based on information received from supply side and demand side intermediaries in the value chain. The supply side denotes the data gathered from supplier, distributor, wholesaler and the demand side illustrates the data gathered from the end customers for respective market domain.

The supply side for a domain specific market is analysed by:

  • Estimating and projecting penetration rates through analysing product attributes, availability of internal and external substitutes, followed by pricing analysis of the product.
  • Experiential assessment of year-on-year sales of the product by conducting interviews.

The demand side for the market is estimated through:

  • Evaluating the penetration level and usage rates of the product.
  • Referring to the historical data to determine the growth rate and evaluate the industry trends

In-house Library: Apart from these third-party sources, we have our in-house library of qualitative and quantitative information. Our in-house database includes market data for various industry and domains. These data are updated on regular basis as per the changing market scenario. Our library includes, historic databases, internal audit reports and archives.

Sometimes there are instances where there is no metadata or raw data available for any domain specific market. For those cases, we use our expertise to forecast and estimate the market size in order to generate comprehensive data sets. Our analyst team adopt a robust research technique in order to produce the estimates:

  • Applying demographic along with psychographic segmentation for market evaluation
  • Determining the Micro and Macro-economic indicators for each region 
  • Examining the industry indicators prevailing in the market. 

Data Synthesis: This stage involves the analysis & mapping of all the information obtained from the previous step. It also involves in scrutinizing the data for any discrepancy observed while data gathering related to the market. The data is collected with consideration to the heterogeneity of sources. Robust scientific techniques are in place for synthesizing disparate data sets and provide the essential contextual information that can orient market strategies. The Brainy Insights has extensive experience in data synthesis where the data passes through various stages:

  • Data Screening: Data screening is the process of scrutinising data/information collected from primary research for errors and amending those collected data before data integration method. The screening involves in examining raw data, identifying errors and dealing with missing data. The purpose of the data screening is to ensure data is correctly entered or not. The Brainy Insights employs objective and systematic data screening grades involving repeated cycles of quality checks, screening and suspect analysis.
  • Data Integration: Integrating multiple data streams is necessary to produce research studies that provide in-depth picture to the clients. These data streams come from multiple research studies and our in house database. After screening of the data, our analysts conduct creative integration of data sets, optimizing connections between integrated surveys and syndicated data sources. There are mainly 2 research approaches that we follow in order to integrate our data; top down approach and bottom up approach.

Market Deduction & Formulation: The final stage comprises of assigning data points at appropriate market spaces so as to deduce feasible conclusions. Analyst perspective & subject matter expert based holistic form of market sizing coupled with industry analysis also plays a crucial role in this stage.

This stage involves in finalization of the market size and numbers that we have collected from data integration step. With data interpolation, it is made sure that there is no gap in the market data. Successful trend analysis is done by our analysts using extrapolation techniques, which provide the best possible forecasts for the market.

Data Validation & Market Feedback: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helps us finalize data-points to be used for final calculations.

The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. The data validation interview and discussion panels are typically composed of the most experienced industry members. The participants include, however, are not limited to:

  • CXOs and VPs of leading companies’ specific to sector
  • Purchasing managers, technical personnel, end-users
  • Key opinion leaders such as investment bankers, and industry consultants

Moreover, we always validate our data and findings through primary respondents from all the major regions we are working on.

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