According to the business intelligence report titled ‘Global Digital Experience Platform Market Size study, by Component (Platforms , services), by Deployment (On-premise, cloud), by End Use (BFSI, Healthcare, IT & Telecom, Manufacturing, Retail and others) by Application (Business-to-consumer, Business-to-business and others), and Regional Forecasts 2021-2027’, available with MarketStudyReport, global digital experience platform market was evaluated at USD 9.20 billion in 2020 and is anticipated to be worth USD 20.72 billion by 2027, expanding at 12.3% CAGR between 2021-2027.
 

Rising focus on improving customer experience, launch of new business models to retain and enlarge customer base, and availability of better customer engagement through digital transformation in industries are the key factors driving global digital experience platform market expansion.
 

Request sample copy of this Report: https://www.marketstudyreport.com/request-a-sample/4219736/
 

For the unversed, digital experience platform is a software which is primarily used to meet the needs of companies which undergo digital transformation with an aim to provide and deliver better consumer experiences.
 

Growth in implementation of advanced technologies and surging demand for big data analytics will aid revenue inflow as well. As per Statista, approximately USD 1.18 trillion was spent on digital transformation technologies & services in 2019 which rose to USD 1.31 trillion in 2020.
 

While growing expenditure on digital transformation technology will stimulate industry growth, lack of integration with back end systems will act as a challenge for businesses operating in this domain.
 

Based on component, worldwide digital experience platform industry is divided services, and platform. Speaking of deployment, the market sphere is split into cloud, and on-premise.
 

As per end user spectrum, the business domain is arrayed into BFSI, IT & telecom, healthcare, retail, manufacturing, and others. Moving on to application scope, the market is bifurcated into business-to-business, business to consumer, and others.
 

Considering the geographical landscape, North America captured majority of global digital experience platform market share in the recent past, owing to increasing focus on customer retention & engagement. Meanwhile, Asia Pacific market is slated to witness significant expansion between 2021-2027 due to increasing per capita income , rising smartphone sales, and growing tech savvy populace.
 

Leading players profiled in worldwide digital experience platform market report are SAP SE, Salesforce.com Inc., Adobe Inc., Acquia Inc., Liferay Inc., International Business Machines (IBM) Corporation, Microsoft Corporation, Oracle Corporation, Open Text Corporation, and Sitecore.