Overview:
The global report on the digital experience management software market size suggests a possibility of growth by 9% CAGR during the forecast period covering 2018 to 2023 and surpassing of a valuation worth USD 9 billion. Market Research Future (MRFR) believes that the global market would benefit from innovations introduced by various competitors, competition among them, technological uplifting, investment in the sector, research and development scope, uptake of it by end-users, customer engagement, and others.
However, the digital experience management software market requires expertise and companies are not getting it enough from their workforce, which might slow down the market.
Segmentation:
The global study of the digital experience management software market, as conducted by MRFR analysts, includes segments like component, organization size, vertical, and deployment. This would provide better coverage of details to help in strategic planning.
By components, the digital experience management software market includes solutions and services. The solution segment includes multi-channel customer communication management, digital employee experience, customer relationship management, web portals, web content management, customer experience management, and analytics.
By service, the report talks about professional service and support & maintenance service.
By deployment, the study of the digital experience management software market includes cloud and on-premise.
By organization size, the digital experience management software market includes small & medium enterprises and large enterprises.
By vertical, the global digital experience management software market can be discussed on the basis of government, BFSI, healthcare, IT & Telecommunication, retail, transportation & logistics, media & entertainment, travel & hospitality, and others.
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Regional Analysis:
North America had areas where companies can invest much and help the digital experience management software market growth. Due to technical brilliance, infrastructural support, and others, the regional market is slated to benefit. Asia Pacific is showing signs of faster growth in the coming days.
Competitive Landscape:
Oracle Corporation (U.S.), SAP SE (Germany), IBM Corporation (U.S.), Infosys (India), Salesforce.Com, Inc. (U.S.), SDL Plc (U.K.), Sitecore (Denmark), Adobe Systems Incorporated (U.S.), Acquia (U.S.), Demandware, Inc. (U.S.), and others are some of the major companies that were studied to deliver a comprehensive report on the digital experience management software market. MRFR made that effort to understand how the global market would benefit from the strategic moves initiated by these companies. In addition, the study will also allow tracing of trends that are holding sway over the market.
Industry News:
In July 2020, Acquia, a digital experience company, announced the launch of its Acquia Open Digital Experience Platform (DXP). It gets its power from Acquia Marketing Cloud and Acquia Drupal Cloud, which is a unified solution known for unlocking the value of data and content, and assists organizations in creating new digital experiences rapidly. Marketers and developers can now use a single, easy-to-use platform to build, customize, and control multi-experience customer journeys across modes of customer interaction like chat, voice, touchscreens, and others.
In July 2020, Walgreens Boots Alliance, Inc., declared that it would extend its partnership with Microsoft and Adobe to introduce an unprecedented digital experience and customer insights platform, which will deliver personalized healthcare and shopping offerings. It will help customers in getting products and services from its global pharmacy and retail businesses without any constraints of time, place, and process.
However, the market is expected to experience changes due to the COVID-19 crisis. A lot of customers are going to move towards a digital platform to maintain physical distance and avoid large gatherings, which will trigger the intake of this platform.
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