Europe Digital Experience Platform Market to Witness Rapid Growth in Demand During 2022 to 2030.

Europe Digital Experience Platform Industry Overview

The Europe digital experience platform market size was valued at USD 2.88 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 12.4% from 2022 to 2030.

The current growth can be attributed to the increasing rate of digital transformation across industry verticals and the growing need to enrich customer experiences for enhanced customer engagement. The COVID-19 pandemic compelled several businesses to become digital to improve workflow efficiency and preserve business growth. These platforms have enhanced automation and digitalization in several businesses in various industry verticals. Hence, more vendors are adopting digital experience platforms (DXP)s, which allow them to reach customers via digital devices and facilitate upselling and cross-selling across their businesses.

Gather more insights about the market drivers, restrains and growth of the Europe Digital Experience Platform Market

The acceptance rate of the latest technologies, such as Artificial Intelligence (AI) and Machine Learning (ML) in DXP solutions is expected to boost market growth. Digital experience platforms permit businesses to focus on a larger customer base by designing and planning new products and implementing new business models and services. For instance, in March 2022, the Dutch Council for Refugees, a government body, announced a partnership with SparkOptimus, a digital strategy consultancy, to launch RefugeeHelp.com, a digital platform to provide a transparent overview of initiatives for both Ukrainian refugees and volunteers. At the same time, the platform is positioned to meet the future incursions of refugees worldwide. These benefits will supplement the growth.

Digital experience platforms can be easily integrated with the existing set of business processes such as Customer Relationship Management (CRM), contact centers, and social media platforms. With the help of these capabilities, organizations can obtain powerful insights helping them boost their return on investment. For instance, in September 2020, Deloitte Digital announced a collaboration with Lamborghini, an Italian automotive giant, to help transform its digital experience. Deloitte Digital created a new CRM platform using the Salesforce platform and integrated the CRM with a content management system, and enabled Lamborghini to create and deliver the right content to their customers. These features are driving the growth of the regional market.

The growing inclination for cloud-based digital experience platforms from companies helps the regional market to grow. Several enterprises prefer cloud services, as they reduce investments in physical infrastructure and rapid deployment capability. With the help of cloud-based digital experience platforms, companies can access the platform from multiple devices such as smartphones, laptops, and desktop computers and can deliver customized content based on customer preferences, buying behavior, and historical transactions. Trends like these are likely to fuel the regional market growth of the digital experience platform.

The evolving use of voice commerce is expected to aid the growth of the regional market as a medium to sell various products and services. The presence of a sound e-commerce industry complements digital commerce, creating a bilateral pathway for revenue generation and profit-sharing. Several e-commerce companies in the region, such as Otto Group, Marks Spencer, and Apple, among others, have increased the bar of choice for the masses by hosting products and their brands. The option of trying and buying has also become a popular resort for e-commerce buyers. These trends are expected to drive the demand for DXP in the region.

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Key Companies Profile

Some prominent players in the Europe digital experience platform market include: