Market Trends of Digital Experience Platform Industry
On Cloud Deployment to Drive the Market Growth
- Due to the growing preference for cloud-based DXPs' rapid deployment capability and lower investments in physical infrastructure, the cloud-based segment of the market will account for the highest CAGR during the forecast period.
- Various businesses prefer cloud services because of their numerous advantages. For example, Small and Medium Enterprises (SMEs) use the cloud model, which reduces initial IT costs such as hardware setup and power consumption, and requires less physical space. Large enterprises can benefit from cloud services because they can host multiple applications in the cloud network, simplifying application management.
- The cloud deployment model provides customers with a usage-based service model that includes a pay-per-use facility. Furthermore, cloud deployment offers numerous advantages for businesses, such as faster performance, responsiveness, improved collaboration, and greater agility, without needing to maintain a server infrastructure.
- Furthermore, cloud-based DXPs have enabled businesses to access the platform from various devices, including laptops, smartphones, and desktop computers, to deliver customized content based on customer purchasing behavior, preferences, and historical transactions.
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Asia-Pacific to Witness Highest Growth
- Owing to the widespread adoption of emerging technologies such as cloud computing, Artificial Intelligence (AI), and analytics, the region is expected to experience the highest growth during the forecast period. Furthermore, the presence of developing economies such as China and India, which are rapidly implementing cutting-edge technology, is expected to contribute to the region's DXP market growth.
- For instance, Optimizely, a digital experience platform (DXP) provider that enables Boundless Digital Invention has announced that its content management, commerce, and personalization solutions are available on the Microsoft Azure Marketplace. This online store offers applications and services for use on Azure. Customers of Optimizely can now benefit from the productive and trusted Azure cloud platform with streamlined deployment and management. Optimizely, DXP provides extensive personalization features powered by artificial intelligence (AI) and benefits from Azure's scalability, reliability, performance, and security.
- Companies operating in the regional market are further fueling the adoption of DXPs due to growing consumer preference and the widespread adoption of web and mobile shopping applications in developing countries such as India and China.
- The rapid growth of online retailing is fueling the demand for DXPs in the region. Furthermore, the well-established presence of Information Technology Enabled Services (ITES) and software companies in countries like India, China, Singapore, Japan, and South Korea are also anticipated to facilitate the cost-effective deployment of DXPs.
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