Research firm Fact.MR expects the digital experience platform market to grow to nearly $29.5 billion by 2032, up from $9.9 billion in 2021, growing at a compound annual rate of 10.2 percent.
Future growth is expected to be fueled by the development of platforms in other languages, the constant addition of new features, and the integration of customer experience (CX) solutions that require professional services, according to the firm.
Professional services, especially consulting and maintenance services, are quickly becoming the dominant category in the market for digital experience platforms worldwide, according to the research, which also found that the platform segment is by far the most important element in the composable DXP market. The most lucrative sub-segment of the commerce experience management platform used by many firms in the service sector is managed services, it also found.
The widespread adoption of Oracle DXP on the international market has elevated it to the top position among end users, according to Fact.MR.