Europe Digital Experience Platform Market Size And Landscape Outlook By 2030

Europe Digital Experience Platform Market Growth & Trends

The Europe Digital Experience Platform market size is expected to reach USD 8.09 billion by 2030 and grow at a CAGR of 12.4% from 2022 to 2030, according to the recent reports of Grand View Research, Inc. The growth can be attributed to the rising deployment of cloud-based solutions, demand for big data analytics, and implementation of Artificial Intelligence (AI) and data analytics. These digital capabilities help organizations automate, track, and manage budgets by eliminating the complexities in software. Thus, it allows organizations to customize and prefer user-friendly solutions for digital transformation projects. This is attributed to the rise in demand for digital experience platforms in the region during the forecast period.

U.K. digital experience platform market size, by component, 2020 - 2030 (USD Million)

Europe Digital Experience Platform Market Segmentation

Grand View Research has segmented the Europe digital experience platform market based on component, deployment, application, end-use, and country:

Based on the Component Insights, the market is segmented into Platform and Services.

  • The platform segment accounted for the largest market share of 71.2% in 2021. The augmented efforts by the companies to provide integrated, personalized, and optimized user engagement and experience throughout multiple marketing channels are anticipated to boost the segment growth. It helps engage consumers through well-thought-out, customized digital experiences while providing companies with the opportunity to improve their efficiency. In addition to this, DXPs allow the acquisition of new customers and retention of existing customers. This will supplement the growth of the segment during the forecast period.
  • The services segment is expected to register a CAGR of 13.7% during the forecast period. The growth can be attributed to the rising demand for services such as training and consulting across various industries. Several industries use digital experience platform services to save costs, increase return-on-investment (ROI), and improve company operational performance. These are very useful for companies with no internal budgets or analytical skills to implement and manage the Customer Experience (CX) solution. Moreover, they also handle end-to-end deployment and after-sales services for the solutions. These factors are responsible for the growth of the service segment.

Based on the Deployment Insights, the market is segmented into On-premise and Cloud.

  • The on-premise segment accounted for the largest market share of 53.8% in 2021. Several organizations choose on-premise deployment due to its ability to customize as per user requirements during the implementation. For instance, LoginRadius Inc., a Customer Identity and Access Management (CIAM) platform help companies securely manage customer identities and data to deliver a unified customer experience with the help of in-house data centers. It provides organizations better control over sensitive data and supports easy compliance. Additionally, with on-premise deployment organizations can install a personalized network of digital transformation that suits the organization's necessities precisely and effectively.
  • The cloud segment is expected to grow at a CAGR of 15.9% over the forecast period due to cost-efficiency and hassle-free integration of cloud with various applications. Several enterprises prefer cloud services, as it helps reduce initial IT costs, such as the costs of hardware setup and power consumption, require less physical space, and achieve improved collaboration, along with faster performance, quick responsiveness, and greater agility.

Based on the Application Insights, the market is segmented into Business-to-Consumer (B2C), Business-to-Business (B2B) and Others.

  • The Business-to-Consumer (B2C) segment accounted for the largest market share of 65.1% in 2021. The growth can be attributed to the increasing disposable income level, escalating usage of the internet and smartphones, and an increasing number of online shoppers. Moreover, technological advancement supported by increasing usage of AI is providing customers with a real-time shopping experience. For instance, Augmented Reality (AR) technology offers customers virtual changing rooms, wherein customers can try a product virtually. The adoption of these technologies will supplement the growth of the segment during the forecast period.
  • The Business-to-Business (B2B) segment is expected to grow at a CAGR of 11.7% over the forecast period. The closure of physical stores due to the over-expansion of malls and changes in spending habits, and an increase in the number of online orders, have positively impacted the region’s B2B business outlook. Moreover, the proliferation of cloud services and web applications has boosted the demand.

Based on the End-use Insights, the market is segmented into BFSI, Healthcare, IT & Telecom, Manufacturing, Retail, Others (Education, Transportation & Logistics, and Energy and Utilities, among others).

  • The retail segment held a market share of 27.6% in 2021 and is expected to dominate the market by 2030. The growing number of customers’ expectations and improvements in real-time payment technologies are likely to foster the segment growth during the forecast period. Moreover, several retailers have adopted technological tools to improve operational efficiency and enhance customer interactions.
  • The BFSI segment is expected to grow at a CAGR of 13.8% over the forecast period. The segment growth can be attributed to strong demand from growing regional personal banking and insurance applications. With investment in cloud-based digital banking platform solutions, banks are anticipated to reduce their operational costs, and enhance customer experience, thus increasing productivity and revenues. The complexity and high investment of on-premise solutions is another reason that is boosting the demand for cloud-based digital banking platforms. The increased digitization across the BFSI sector is expected to create lucrative business opportunities in the market.

Europe Digital Experience Platform Regional Outlook

  • U.K.
  • Germany
  • France
  • Italy
  • Spain

Market Share Insights

  • January 2022: SAP SE announced a partnership with Icertis, a software company that provides contract management software to enterprise businesses, to help companies increase efficiency, minimize risk, and realize the full intent of their agreements.

Key Companies Profile & Market Share Insights

Market players are observed to invest resources in R&D activities to support growth and enhance their internal business operations. Companies can be seen engaging in mergers & acquisitions and partnerships to further upgrade their products and gain a competitive advantage in the market.

Some of the prominent players operating in the Europe digital experience platform market include,

  • Salesforce.com, Inc.
  • Oracle Corporation
  • Microsoft Corporation
  • IBM Corporation
  • SAP SE
  • Adobe
  • Acquia Inc.
  • Open Text Corporation
  • Appway AG
  • Sopra Steria

Order a free sample PDF of the Europe Digital Experience Platform Market Intelligence Study, published by Grand View Research.

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