Growing Demand for Effective Customer Engagement to Drive Digital Experience Management Software Market
The global digital experience management software market is expected to exhibit a solid 9% CAGR over the forecast period from 2017 to 2023, according to the latest research report from Market Research Future (MRFR). The global digital experience management software market is expected to reach a valuation of USD 9 billion by 2023, according to the report. The report presents a comprehensive overview of the global digital experience management software market by profiling the market’s leading drivers and restraints, major players, and other trends and factors having a definitive impact on the market. The major drivers and restraints affecting the global digital experience management software market are profiled in detail in the report in order to give readers a clear picture of which factors are driving and restraining the market. The major players operating in the global digital experience management software market are also profiled in the report. The impact of the COVID-19 pandemic on the global digital experience management software market is also assessed in detail in the report.
Digital experience management software is a suite of services that help enterprises provide a comprehensive, effective, and enjoyable digital experience to their clients. The growing trend towards digitization is the major driver for the global digital experience management software market over the forecast period. Across sectors, enterprises are increasingly going digital in order to connect better with consumers. This has led to a growing demand for effective services that enable enterprises to create an engaging digital experience for their clients. The emerging trend in digital experience management is the rising competition between businesses, leading to cutthroat competition in the market, and growing demand to provide a satisfying consumer experience. This has led to a growing demand for effective digital experience management software over the last few years and is likely to remain a major driver for the market over the forecast period.
Leading players in the global digital experience management software market include Demandware Inc., Acquia, Adobe Systems Inc., Sitecore, SDL plc, Salesforce.com Inc., Infosys, IBM Corporation, SAP SE, and Oracle Corporation. Oracle, SAP, and Infosys are among the leading players in the global digital experience management software market and have come up with new products in recent years in order to stake a larger claim in the global digital experience management software market. Oracle Corporation recently launched Oracle Content and Experience Cloud, a software that manages and delivers content to numerous digital channels. This allows the client to increase consumer engagement with employees and partners. SAP SE recently developed the SAP HANA cloud platform for enhancing existing businesses and developing new applications. Infosys is also a major player in the market and offers a digital platform to provide a personalized and managed user experience across touch points, channels, and devices. Infosys offers services such as campaign services, content services, lean portals, and enterprise integration.
The global digital experience management software market is segmented on the basis of component, deployment, organization size, vertical, and region.
By component, the global digital experience management software market is segmented into solutions and services. The solutions segment is further sub-segmented into web content management, multi-channel customer communication management, customer relationship management, digital employee experience, web portals, customer experience management, and analytics. The services segment is further sub-segmented into professional services and support and maintenance services.
By deployment, the global digital experience management software market is segmented into cloud and on-premise. The cloud segment dominates the global digital experience management software market, as it minimizes the cost of IT infrastructure for the enterprise. It also provides effective data protection and security, making it attractive for enterprise across sectors.
By organization size, the global digital experience management software market is segmented into small and medium enterprise, and large enterprises.
By vertical, the global digital experience management software market is segmented into government, BFSI, IT and telecom, healthcare, retail, travel and hospitality, transportation and logistics, media and entertainment, and others.
North America dominates the global digital experience management software market and is likely to remain the leading revenue generator over the forecast period.
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