Global Digital Experience Management Market Size By Component, By Vertical, By Deployment, By Geographic Scope And Forecast
Report ID: 34200|No. of Pages: 202
Digital Experience Management Market Size And Forecast
Digital Experience Management Market size was valued at USD 14.1 Billion in 2024 and is projected to reach USD 29.61 Billion by 2031, growing at a CAGR of 9.74% during the forecasted period 2024 to 2031.
Global Digital Experience Management Market Drivers
The market drivers for the Digital Experience Management Market can be influenced by various factors. These may include:
- Growing Customer Demand for Personalisation: Customers want experiences that are individualised based on their tastes and habits. By delivering personalised content and services, companies can increase customer satisfaction and engagement through the use of digital experience management solutions.
- Growth of Online Services and E-Commerce: To guarantee smooth user experiences, the growth of online services and E-Commerce need strong DEM. A more efficient handling of digital interactions can result in increased client loyalty and conversion rates.
- The proliferation of mobile devices has led to an increased demand for standardised and optimised digital experiences across a range of platforms, including smartphones and tablets. Regardless of the device being used, digital experience management enables organisations to offer a consistent customer experience.
- Technological Advancements: Digital experience management platforms are becoming more capable thanks to developments in artificial intelligence, machine learning, and data analytics. Higher levels of user intelligence and more successful personalisation tactics are made possible by these technologies.
- Increasing Customer Expectations: In today’s digital world, users anticipate quick, easy, and intuitive online interactions. To meet these demands and maintain their competitiveness in the market, businesses must make investments in digital experience management.
- Integration of Omnichannel Strategies: In order to deliver a consistent experience across several touchpoints, such as websites, mobile apps, social media, and physical stores, businesses are progressively implementing omnichannel strategies. Effective implementation and maintenance of these techniques need the use of digital experience management solutions.
- Prioritise Customer Retention: It is more economical to keep current clients than to find new ones. Enhancing customer satisfaction and loyalty is essential for maintaining long-term customer relationships, and digital experience management can help with this.
- Regulatory Compliance: Businesses must manage digital experiences responsibly in order to comply with data protection laws like the CCPA and GDPR. By ensuring that consumer data is managed in compliance with these standards, digital experience management tools help lower the possibility of legal problems.
- Improved Reporting and Analytics: Organisations need in-depth analytics to comprehend consumer behaviour and assess how well their digital initiatives are working. Making data-driven decisions is aided by the extensive reporting capabilities offered by digital experience management.
- Competitive Advantage: Businesses can set themselves apart from rivals by being adept at managing digital experiences. Businesses can more successfully attract and retain customers by providing superior digital interactions.
Global Digital Experience Management Market Restraints
Several factors can act as restraints or challenges for the Digital Experience Management Market. These may include:
- High Implementation Costs: Setting up a digital experience management system can involve a substantial initial outlay of funds. This covers the price of buying the required software, integrating it with the current systems, and providing staff training. These expenses may be unaffordable for small and medium-sized businesses (SMEs), which would restrict their capacity to use these technologies.
- Complexity of Integration: It might be difficult to integrate digital experience management solutions with the current IT infrastructure. It’s possible that outdated systems won’t work together, necessitating major adjustments or maybe replacements. Businesses may be discouraged by this complexity since it may result in longer implementation times and higher implementation expenses.
- Data security and privacy issues: Managing digital experiences frequently necessitates gathering and examining a lot of client data. A key problem is making sure that this data is safe and complies with privacy laws. Because any data breach can result in serious financial and reputational harm, businesses are hesitant to implement new DXM technologies.
- Absence of Skilled people: To manage digital experiences effectively, one needs people with the knowledge and abilities to handle complicated software, evaluate data, and create insights-driven strategies. Because there is a dearth of these specialists in the market, it is challenging for organisations to successfully install and use these systems.
- Rapid Technological Changes: New platforms and technologies are continually being introduced, resulting in a constantly changing digital landscape. It can be very expensive for many organisations to continuously invest in new technologies and training to keep up with these changes. Because of their concern of becoming outdated, organisations may be discouraged from investing in digital experience management systems by the quick rate of change.
- Opposition to Change: Another important barrier to the adoption of new technology in organisations is resistance. Workers could be reluctant to pick up new systems and alter their routines. Effective change management techniques are needed to overcome this resistance, and they can be expensive and time-consuming.
- Insufficient IT infrastructure can provide a significant obstacle in certain areas, particularly those that are developing. Digital experience management solutions are difficult to install and maintain without dependable internet access and cutting-edge gear. This restricts the expansion of the market in these areas.
Global Digital Experience Management Market Segmentation Analysis
The Global Digital Experience Management Market is segmented on the basis of Component, Vertical, Deployment, and Geography.
Digital Experience Management Market, By Component
- Solution
- Service
Based on Component, The market is bifurcated into Solution and Service segments. The Solution segment is bifurcated into Analytics, Customer Experience Management, Web Content Management, Web Portals, and Others segments. The Service segment is further bifurcated into Professional Service, and Support and Maintenance Service. The Solution segment is anticipated to register significant and quick growth. This can be attributed to the growing demand for this solution by growing MNCs and organizations.
Digital Experience Management Market, By Vertical
- Banking, Financial Services & Insurance (BFSI)
- IT & Telecommunication
- Healthcare
- Manufacturing
- Media & Entertainment
- Other Verticals
Based on Vertical, The market is bifurcated into Banking, Financial Services & Insurance (BFSI), IT & Telecommunication, Healthcare, Manufacturing, Media & Entertainment, and Other Verticals segments. All the segments are anticipated to witness significant growth. This can be attributed to the growing need to understand user experience and to tailor better and unique services around that.
Digital Experience Management Market, By Deployment
- Cloud-based
- On-premises
Based on Deployment, The market is bifurcated intoCloud-based-, On-premises. On-premises lead the way in 2022. The advancement of digitization, technological advances in cloud and smart solutions, rapid integration of multiple channel touchpoints into a single platform, and the growing need to identify customer data for business insight to drive revenue are some of the customer’s business. to manage. important things. Brands are increasingly relying on customer management tools to identify customer needs and ensure the company’s products are aligned to stay one step ahead of the competition. Companies are also using cloud technology, advanced analytics and automation to build trust to deliver the best customer experience and reduce clutter.
Digital Experience Management Market, By Geography
- North America
- Europe
- Asia Pacific
- Rest of the world
On the basis of Geography, The Global Digital Experience Management Market is classified into North America, Europe, Asia Pacific, and Rest of the world. North America is expected to account for the highest market share. This can be attributed to the rapid adoption of newer technology by the masses in the region. Moreover, investments made by the government and private players to research and develop newer products are anticipated to fuel the market further.
Key Players
The major players in the Digital Experience Management Market are:
- Adobe Inc.
- Oracle Corporation
- SAP SE
- IBM Corporation
- Avaya Inc.
- Verint Systems Inc.
- Tech Mahindra
- Open Text Corporation
- Microsoft
- Salesforce
Report Scope
REPORT ATTRIBUTES | DETAILS |
---|---|
STUDY PERIOD | 2021-2031 |
BASE YEAR | 2024 |
FORECAST PERIOD | 2024-2031 |
HISTORICAL PERIOD | 2021-2023 |
UNIT | Value (USD Billion) |
KEY COMPANIES PROFILED | Adobe Inc., Oracle Corporation, SAP SE, IBM Corporation, Avaya Inc., Verint Systems Inc., Tech Mahindra, and Open Text Corporation. |
SEGMENTS COVERED | By Component, By Vertical, By Deployment, and By Geography. |
CUSTOMIZATION SCOPE | Free report customization (equivalent up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope |
Research Methodology of Verified Market Research:
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Reasons to Purchase this Report
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players
• The current as well as future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes an in-depth analysis of the market of various perspectives through Porter’s five forces analysis
• Provides insight into the market through Value Chain
• Market dynamics scenario, along with growth opportunities of the market in the years to come
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Customization of the Report
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Frequently Asked Questions
1 INTRODUCTION OF GLOBAL DIGITAL EXPERIENCE MANAGEMENT MARKET
1.1 Overview of the Market
1.2 Scope of Report
1.3 Assumptions
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH
3.1 Data Mining
3.2 Validation
3.3 Primary Interviews
3.4 List of Data Sources
4 GLOBAL DIGITAL EXPERIENCE MANAGEMENT MARKET OUTLOOK
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 GLOBAL DIGITAL EXPERIENCE MANAGEMENT MARKET, BY COMPONENT
5.1 Overview
5.2 Solution
5.3 Service
6 GLOBAL DIGITAL EXPERIENCE MANAGEMENT MARKET, BY VERTICAL
6.1 Overview
6.2 Banking, Financial Services & Insurance (BFSI)
6.3 IT & Telecommunication
6.4 Healthcare
6.5 Manufacturing
6.6 Media & Entertainment
6.7 Other Verticals
7 GLOBAL DIGITAL EXPERIENCE MANAGEMENT MARKET, BY GEOGRAPHY
7.1 Overview
7.2 North America
7.2.1 U.S.
7.2.2 Canada
7.2.3 Mexico
7.3 Europe
7.3.1 Germany
7.3.2 U.K.
7.3.3 France
7.3.4 Rest of Europe
7.4 Asia Pacific
7.4.1 China
7.4.2 Japan
7.4.3 India
7.4.4 Rest of Asia Pacific
7.5 Rest of the World
7.5.1 Latin America
7.5.2 Middle East and Africa
8 GLOBAL DIGITAL EXPERIENCE MANAGEMENT MARKET COMPETITIVE LANDSCAPE
8.1 Overview
8.2 Company Market Ranking
8.3 Key Development Strategies
9 COMPANY PROFILES
9.1 Adobe Inc.
9.1.1 Overview
9.1.2 Financial Performance
9.1.3 Product Outlook
9.1.4 Key Developments
9.2 Oracle Corporation
9.2.1 Overview
9.2.2 Financial Performance
9.2.3 Product Outlook
9.2.4 Key Developments
9.3 SAP SE
9.3.1 Overview
9.3.2 Financial Performance
9.3.3 Product Outlook
9.3.4 Key Developments
9.4 IBM Corporation
9.4.1 Overview
9.4.2 Financial Performance
9.4.3 Product Outlook
9.4.4 Key Developments
9.5 Avaya Inc.
9.5.1 Overview
9.5.2 Financial Performance
9.5.3 Product Outlook
9.5.4 Key Developments
9.6 Verint Systems Inc.
9.6.1 Overview
9.6.2 Financial Performance
9.6.3 Product Outlook
9.6.4 Key Developments
9.7 Tech Mahindra
9.7.1 Overview
9.7.2 Financial Performance
9.7.3 Product Outlook
9.7.4 Key Developments
9.8 Open Text Corporation
9.8.1 Overview
9.8.2 Financial Performance
9.8.3 Product Outlook
9.8.4 Key Developments
9.9 Zendesk
9.9.1 Overview
9.9.2 Financial Performance
9.9.3 Product Outlook
9.9.4 Key Developments
9.10 Sitecore
9.10.1 Overview
9.10.2 Financial Performance
9.10.3 Product Outlook
9.10.4 Key Developments
10 KEY DEVELOPMENTS
10.1 Product Launches/Developments
10.2 Mergers and Acquisitions
10.3 Business Expansions
10.4 Partnerships and Collaborations
11 APPENDIX
11.1 Related Research
Report Research Methodology
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Verified Market Research uses the latest researching tools to offer accurate data insights. Our experts deliver the best research reports that have revenue generating recommendations. Analysts carry out extensive research using both top-down and bottom up methods. This helps in exploring the market from different dimensions.
This additionally supports the market researchers in segmenting different segments of the market for analysing them individually.
We appoint data triangulation strategies to explore different areas of the market. This way, we ensure that all our clients get reliable insights associated with the market. Different elements of research methodology appointed by our experts include:
Exploratory data mining
Market is filled with data. All the data is collected in raw format that undergoes a strict filtering system to ensure that only the required data is left behind. The leftover data is properly validated and its authenticity (of source) is checked before using it further. We also collect and mix the data from our previous market research reports.
All the previous reports are stored in our large in-house data repository. Also, the experts gather reliable information from the paid databases.
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For understanding the entire market landscape, we need to get details about the past and ongoing trends also. To achieve this, we collect data from different members of the market (distributors and suppliers) along with government websites.
Last piece of the ‘market research’ puzzle is done by going through the data collected from questionnaires, journals and surveys. VMR analysts also give emphasis to different industry dynamics such as market drivers, restraints and monetary trends. As a result, the final set of collected data is a combination of different forms of raw statistics. All of this data is carved into usable information by putting it through authentication procedures and by using best in-class cross-validation techniques.
Data Collection Matrix
Perspective | Primary Research | Secondary Research |
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Supplier side |
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Demand side |
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Econometrics and data visualization model
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Our analysts offer market evaluations and forecasts using the industry-first simulation models. They utilize the BI-enabled dashboard to deliver real-time market statistics. With the help of embedded analytics, the clients can get details associated with brand analysis. They can also use the online reporting software to understand the different key performance indicators.
All the research models are customized to the prerequisites shared by the global clients.
The collected data includes market dynamics, technology landscape, application development and pricing trends. All of this is fed to the research model which then churns out the relevant data for market study.
Our market research experts offer both short-term (econometric models) and long-term analysis (technology market model) of the market in the same report. This way, the clients can achieve all their goals along with jumping on the emerging opportunities. Technological advancements, new product launches and money flow of the market is compared in different cases to showcase their impacts over the forecasted period.
Analysts use correlation, regression and time series analysis to deliver reliable business insights. Our experienced team of professionals diffuse the technology landscape, regulatory frameworks, economic outlook and business principles to share the details of external factors on the market under investigation.
Different demographics are analyzed individually to give appropriate details about the market. After this, all the region-wise data is joined together to serve the clients with glo-cal perspective. We ensure that all the data is accurate and all the actionable recommendations can be achieved in record time. We work with our clients in every step of the work, from exploring the market to implementing business plans. We largely focus on the following parameters for forecasting about the market under lens:
- Market drivers and restraints, along with their current and expected impact
- Raw material scenario and supply v/s price trends
- Regulatory scenario and expected developments
- Current capacity and expected capacity additions up to 2027
We assign different weights to the above parameters. This way, we are empowered to quantify their impact on the market’s momentum. Further, it helps us in delivering the evidence related to market growth rates.
Primary validation
The last step of the report making revolves around forecasting of the market. Exhaustive interviews of the industry experts and decision makers of the esteemed organizations are taken to validate the findings of our experts.
The assumptions that are made to obtain the statistics and data elements are cross-checked by interviewing managers over F2F discussions as well as over phone calls.
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Different members of the market’s value chain such as suppliers, distributors, vendors and end consumers are also approached to deliver an unbiased market picture. All the interviews are conducted across the globe. There is no language barrier due to our experienced and multi-lingual team of professionals. Interviews have the capability to offer critical insights about the market. Current business scenarios and future market expectations escalate the quality of our five-star rated market research reports. Our highly trained team use the primary research with Key Industry Participants (KIPs) for validating the market forecasts:
- Established market players
- Raw data suppliers
- Network participants such as distributors
- End consumers
The aims of doing primary research are:
- Verifying the collected data in terms of accuracy and reliability.
- To understand the ongoing market trends and to foresee the future market growth patterns.
Industry Analysis Matrix
Qualitative analysis | Quantitative analysis |
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