Global Digital Experience Platform Market

Digital Experience Platform Market Size, Share, Growth Analysis, By Component(Platform, and Services), By Deployment(On-premise, and Cloud) - Industry Forecast 2024-2031


Report ID: SQMIG45E2179 | Region: Global | Published Date: March, 2024
Pages: 197 | Tables: 61 | Figures: 75

Digital Experience Platform Market Insights

Global Digital Experience Platform Market size was valued at USD 12.21 billion in 2022 and is poised to grow from USD 13.43 billion in 2023 to USD 28.79 billion by 2031, growing at a CAGR of 10% during the forecast period (2024-2031).

The purpose of the digital experience platform market is to empower businesses to deliver exceptional digital experiences to their customers. It aims to provide a unified and consistent user experience across various digital channels, enhancing customer engagement, loyalty, and satisfaction. By leveraging a digital experience platform, organizations can create personalized content, optimize user journeys, and gain insights into customer behavior to drive business growth and achieve their digital transformation goals. Customers today expect personalized and seamless experiences across all digital touchpoints. Businesses are adopting digital experience platforms to meet these expectations, offering tailored content, contextual interactions, and consistent experiences to enhance customer satisfaction and loyalty. Integrating a digital experience platform with existing IT infrastructure and legacy systems can be complex. Ensuring seamless data flow, consistent user experiences, and real-time synchronization across different systems can present challenges for organizations.

The demand for personalized experiences continues to grow, presenting an opportunity for organizations to leverage digital experience platforms to deliver tailored content, recommendations, and offers to individual customers. By enhancing customer engagement, organizations can drive conversions, increase customer loyalty, and gain a competitive edge. The global digital experience platform market aims to help businesses deliver exceptional digital experiences by providing comprehensive software solutions. Factors such as increasing customer expectations and the drive for digital transformation are propelling the market's growth.

Market snapshot - 2024-2031

Global Market Size

USD 12.21 billion

Largest Segment

Platform

Fastest Growth

Platform

Growth Rate

10% CAGR

Global Digital Experience Platform Market 2022-2030 ($ Bn)
Country Share for North America Region- 2022 (%)
Global Digital Experience Platform Market Size By Component, 2022-2030 ($ Bn)
Global Digital Experience Platform Market Size By Component, 2022-2030 (%)

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Digital Experience Platform Market Segmental Analysis

The global digital experience platform market is segmented on the basis of component, deployment, and region. In terms of component, the market is segmented into platform, and services. By deployment, the market is segmented into on-premise, and cloud. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Global Digital Experience Platform Market Analysis by Component

In 2022, the platform segment dominated the global digital experience platform market with a significant market share of 69.3%. The segment's growth can be attributed to the aggressive efforts of enterprises to deliver integrated, personalized, and optimized user engagement and experiences across multiple marketing channels. These efforts are driving the demand for digital experience platform solutions. Digital experience platforms (DXP) have the potential to deliver well-thought-out and personalized digital experiences to customers, enabling businesses to improve their efficiency. Vendors in the market are increasingly adopting outcome-based business models to generate revenue and meet the strong emphasis on delivering high-quality digital experiences.

The services segment of the digital experience platform market is expected to grow at a CAGR of 15.3% during the forecast period. DXP services play a vital role in helping organizations achieve higher returns on investment, reduce expenses, and improve operational performance. Recognizing the need for a skilled workforce to accelerate digital transformation, organizations are opting for professional services to support their operations. For example, Credencys Solutions Inc., a digital platform development company, offers technology strategy consulting services that support cloud integration and migration of software solutions. These services help clients reduce application downtime and data losses, contributing to the growth of the services segment.

Global Digital Experience Platform Market Analysis by Deployment

In 2022, the on-premise segment held a significant market share of 51.1% in the global digital experience platform market. Many organizations prefer on-premise deployment due to its customization capabilities during implementation. On-premise deployment allows organizations to tailor the platform according to their specific requirements, offering flexibility and control. The key advantages of on-premise deployment is its ability to provide high-end security for classified information. Organizations can have better control over sensitive data and ensure compliance with multiple government regulations. This level of control and security is particularly crucial for industries handling sensitive data or operating in highly regulated environments.

The cloud segment is projected to witness substantial growth with a CAGR of 15.3% during the forecast period. Cloud deployment offers several benefits, including ease of deployment, lower investments in physical infrastructure, and seamless integration. By leveraging cloud computing, organizations can adapt more efficiently to changing market environments and streamline their business operations. The cloud also facilitates the consumerization of technology, allowing for greater accessibility and scalability. Advancements in technologies such as the Internet of Things (IoT), big data, analytics, and mobility have led to innovation and transformation in the business landscape, resulting in increased revenues. These technological advancements further drive the adoption of cloud-based digital experience platforms, supporting the growth of the cloud segment in the market.

Global Digital Experience Platform Market Size By Component, 2022(%), 2023 (%)

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Digital Experience Platform Market Regional Insights

In 2022, the North America digital experience platform market emerged as the dominant region, capturing a revenue share of over 40%. End-use firms in North America are actively adopting various business strategies to collect and analyze consumer feedback through digital channels, aiming to enhance their sales performance. This trend presents robust market opportunities for digital experience platform providers in the region. The growing preference for cloud solutions, particularly among small and medium-sized enterprises (SMEs), is a significant driver of DXP adoption in North America. Cloud solutions offer improved business efficiency, cost-efficiency, and flexibility, which resonate well with the evolving needs of businesses in the region.

Asia Pacific is expected to experience the fastest growth with a compound annual growth rate (CAGR) of 13.3%. Several factors contribute to this growth, including the expansion of the IT industry, the rise in per capita incomes, and the high-volume sales of smartphones and tablets. Organizations in the Asia Pacific region, including startups and SMEs, are increasingly embracing digital experience platforms to streamline their business processes and improve customer experiences. The presence of numerous Information Technology Enabled Services (ITeS) and software companies in countries like India, Japan, China, Singapore, and South Korea is expected to accelerate the adoption and deployment of digital experience platforms in the region.

Global Digital Experience Platform Market Size By Geography, 2022-2030, 2024-2031
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Digital Experience Platform Market Dynamics

Global Digital Experience Platform Market Drivers

Increasing Customer Expectations

  • Customers expect personalized, consistent, and relevant digital experiences across all channels. This drives organizations to adopt DXPs to deliver tailored content, optimize user journeys, and enhance customer engagement and satisfaction.

Digital Transformation Initiatives

  • Businesses worldwide are undergoing digital transformation to stay competitive. DXPs play a vital role in this transformation, enabling organizations to digitize their operations, integrate data and systems, and provide exceptional customer experiences in the digital realm.

Global Digital Experience Platform Market Restraints

Implementation Complexity

  • Deploying and integrating a DXP can be complex, especially for organizations with existing legacy systems and processes. The complexity of implementation may require significant time, resources, and expertise, leading to challenges and delays in realizing the full potential of a DXP.

Data Privacy and Security Concerns

  • With increasing focus on data privacy and security, organizations face challenges in ensuring compliance with regulations and protecting customer data. Maintaining data privacy and security standards while leveraging the capabilities of a DXP requires careful planning and implementation.

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Digital Experience Platform Market Competitive Landscape

The global digital experience platform market is highly competitive and comprises a diverse range of companies vying for market share. These companies offer various solutions and services to enable organizations to deliver seamless and personalized digital experiences to their customers. It is a highly competitive market, companies differentiate themselves through innovative features, integration capabilities, ease of use, scalability, and customer support. Continuous product development and strategic partnerships are common strategies adopted by DXP vendors to stay ahead in the market. Additionally, vendors often focus on industry-specific solutions to cater to the unique needs of various sectors such as retail, healthcare, finance, and e-commerce. As the demand for seamless digital experiences continues to grow, competition among DXP providers is expected to intensify. Vendors will strive to offer comprehensive solutions that empower organizations to deliver personalized, data-driven, and connected experiences to their customers, ultimately driving customer satisfaction, loyalty, and business growth.

Top Player’s Company Profiles in Global Digital Experience Platform Market

  • Oracle Corporation (US)
  • SAP SE (Germany)
  • Acquia, Inc. (US)
  • IBM Corporation (US)
  • Microsoft Corporation (US)
  • SDL plc (UK)
  • Episerver AB (Sweden)
  • Progress Software Corporation (US)
  • OpenText Corporation (Canada)
  • Liferay, Inc. (US)
  • Kentico Software (Czech Republic)
  • BloomReach, Inc. (US)
  • e-Spirit AG (Germany)
  • Jahia Solutions Group SA (Switzerland)
  • Hippo B.V. (Netherlands)
  • CoreMedia AG (Germany)
  • Intershop Communications AG (Germany)

Global Digital Experience Platform Market Recent Developments

  • In May 2022, Acquia Acquires Widen: Acquia, a leading DXP provider, announced the acquisition of Widen, a digital asset management (DAM) and product information management (PIM) company. This acquisition enhances Acquia's capabilities in delivering end-to-end digital experiences by integrating DAM and PIM functionalities within its DXP platform.
  • In March 2022, Salesforce and Adobe Expand Partnership: In March 2022, Salesforce and Adobe announced an expanded partnership to develop an AI-driven weather data and Adobe Experience Platform. The collaboration aims to analyze weather channel data to measure the impact of weather conditions on online spending and other factors in the e-commerce sector.
  • In April 2021, Adobe Acquires Workfront: Adobe completed its acquisition of Workfront, a leading work management platform. This acquisition strengthens Adobe's DXP offerings by integrating Workfront's project management capabilities with Adobe Experience Cloud, enabling organizations to streamline and optimize their digital experience workflows.
  • In January 2021, Salesforce Launched Hyperforce: Salesforce introduced Hyperforce, a reimagination of its architecture designed to deliver Salesforce services in a multi-tenant environment on major public clouds. This development enables customers to leverage the scalability, flexibility, and security of public cloud infrastructures for their digital experience initiatives.

Digital Experience Platform Key Market Trends

  • AI and Personalization: AI-driven personalization is a key trend in the DXP market. Organizations are leveraging AI technologies to analyze customer data, understand preferences, and deliver highly personalized experiences in real-time, resulting in increased customer engagement and conversion rates.
  • Headless Architecture and Omnichannel Experiences: The adoption of headless architecture, where the front-end and back-end of a DXP are decoupled, is gaining momentum. This approach enables organizations to deliver content and experiences seamlessly across multiple channels and devices, supporting omnichannel strategies and enhancing customer interactions.

Digital Experience Platform Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.

According to our global digital experience platform market analysis the market is witnessing significant growth and transformation. With the rise of e-commerce and online transactions, businesses are investing in DXPs to create immersive and seamless digital shopping experiences that drive conversions and revenue. The market is also benefiting from advancements in technology, such as artificial intelligence (AI), machine learning (ML), and data analytics. These technologies enable DXPs to leverage customer data and behavioral insights to deliver personalized recommendations, targeted marketing campaigns, and predictive analytics. Furthermore, the integration of DXPs with other digital tools and platforms, such as content management systems (CMS), customer relationship management (CRM) software, and e-commerce platforms, enhances their capabilities and enables organizations to create end-to-end digital experiences. The global DXP market is experiencing strong growth driven by the need for enhanced customer experiences, technological advancements, and the integration of data-driven insights. While challenges exist, the market presents significant opportunities for organizations to leverage DXPs and create compelling digital experiences that drive customer engagement, loyalty, and business success.

Report Metric Details
Market size value in 2023 USD 12.21 billion
Market size value in 2031 USD 28.79 billion
Growth Rate 10%
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Component
    • Platform, and Services
  • Deployment
    • On-premise, and Cloud
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Oracle Corporation (US)
  • SAP SE (Germany)
  • Acquia, Inc. (US)
  • IBM Corporation (US)
  • Microsoft Corporation (US)
  • SDL plc (UK)
  • Episerver AB (Sweden)
  • Progress Software Corporation (US)
  • OpenText Corporation (Canada)
  • Liferay, Inc. (US)
  • Kentico Software (Czech Republic)
  • BloomReach, Inc. (US)
  • e-Spirit AG (Germany)
  • Jahia Solutions Group SA (Switzerland)
  • Hippo B.V. (Netherlands)
  • CoreMedia AG (Germany)
  • Intershop Communications AG (Germany)
Customization scope

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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Digital Experience Platform Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Digital Experience Platform Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Digital Experience Platform Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Digital Experience Platform Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Digital Experience Platform Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Digital Experience Platform Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Digital Experience Platform Market size was valued at USD 12.21 billion in 2022 and is poised to grow from USD 13.43 billion in 2023 to USD 28.79 billion by 2031, growing at a CAGR of 10% during the forecast period (2024-2031).

The digital experience platform market is highly competitive and comprises a diverse range of companies vying for market share. These companies offer various solutions and services to enable organizations to deliver seamless and personalized digital experiences to their customers. It is a highly competitive market, companies differentiate themselves through innovative features, integration capabilities, ease of use, scalability, and customer support. Continuous product development and strategic partnerships are common strategies adopted by DXP vendors to stay ahead in the market. Additionally, vendors often focus on industry-specific solutions to cater to the unique needs of various sectors such as retail, healthcare, finance, and e-commerce. As the demand for seamless digital experiences continues to grow, competition among DXP providers is expected to intensify. Vendors will strive to offer comprehensive solutions that empower organizations to deliver personalized, data-driven, and connected experiences to their customers, ultimately driving customer satisfaction, loyalty, and business growth. 'Adobe Inc. (US)', 'Salesforce.com, Inc. (US)', 'Oracle Corporation (US)', 'SAP SE (Germany)', 'Sitecore (Denmark)', 'Acquia, Inc. (US)', 'IBM Corporation (US)', 'Microsoft Corporation (US)', 'SDL plc (UK)', 'Episerver AB (Sweden)', 'Progress Software Corporation (US)', 'OpenText Corporation (Canada)', 'Liferay, Inc. (US)', 'Kentico Software (Czech Republic)', 'BloomReach, Inc. (US)', 'e-Spirit AG (Germany)', 'Jahia Solutions Group SA (Switzerland)', 'Hippo B.V. (Netherlands)', 'CoreMedia AG (Germany)', 'Intershop Communications AG (Germany)'

Customers expect personalized, consistent, and relevant digital experiences across all channels. This drives organizations to adopt DXPs to deliver tailored content, optimize user journeys, and enhance customer engagement and satisfaction.

AI and Personalization: AI-driven personalization is a key trend in the DXP market. Organizations are leveraging AI technologies to analyze customer data, understand preferences, and deliver highly personalized experiences in real-time, resulting in increased customer engagement and conversion rates.

In 2022, the North America digital experience platform market emerged as the dominant region, capturing a revenue share of over 40%. End-use firms in North America are actively adopting various business strategies to collect and analyze consumer feedback through digital channels, aiming to enhance their sales performance. This trend presents robust market opportunities for digital experience platform providers in the region. The growing preference for cloud solutions, particularly among small and medium-sized enterprises (SMEs), is a significant driver of DXP adoption in North America. Cloud solutions offer improved business efficiency, cost-efficiency, and flexibility, which resonate well with the evolving needs of businesses in the region.

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