Digital Experience Management Software Market Forecast 2031; Covid-19 Analysis

August 3, 2021

Digital experience management software is an integrated set of core technologies that help create, manage, and deliver omni-channel digital experiences.
Advances in communications and IT are driving demand for digital experience management software to improve customer productivity by reducing complexity.
Digital experience management software offers vendors and buyers the information they need to develop effective product strategies and roadmaps.
The software helps companies leverage customer data in marketing channels such as websites, social media platforms, ads, and customer touchpoints (customer service, e-commerce platforms, etc.).
Cloud, mobile, and social computing are accelerating the demand for digital experience management software. In addition, demand for the software is increasing rapidly with quick technological changes and the continuous provision and migration of mobile devices.
The delivery, acquisition, and management of mobile devices and applications and the related services that link mobile devices to the business environment are generating demand for digital experience management software.
Digital experience management software enables digital transformation in industries such as banking, retail, and consumer electronics.
The implementation of digital content management solutions and customer mobility tools have amplified the adoption of digital experience management software in companies.

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Global Digital Experience Management Software Market: Key Drivers

Many companies serving different sectors are seeing the adoption of mobile devices for efficient business management. For this reason, demand for digital experience management software is increasing rapidly. Moreover, companies are implementing the ‘bring your own device’ (BYOD) policy to improve productivity, creating probable growth opportunities for the digital experience management software market.
Moreover, demand for digital experience management software is increasing due to growth of mobile devices and applications maintain the security, productivity, and flexibility of IT operations.
Growing demand for digital experience management software for e-commerce and IT organizations is one of the most important factors driving the growth of the market.
Demand from small and medium-sized businesses is expected to drive the growth of the digital experience management software market due to the development of cloud technology and digitalization.
However, high implementation cost, and limited spending on research & development are some factors that restrain the growth of the digital experience management software market.

Impact of COVID-19 on the Global Digital Experience Management Software Market

COVID-19 affected the global economy in three different ways: disruptions in the supply chain and the market; direct impact on production and demand; and its financial implication on businesses and financial markets.
During the lockdown, adoption of IoT and cloud-based technologies have been increasing across various business sectors and industries. Therefore, demand for digital experience management software is expanding and boosting the market globally.
COVID-19 has a positive impact of on the digital experience management software market due to the increasing utilization of cell phones and different websites and applications, which is projected to expand the market in the next few years.

North America to Hold Major Share of the Global Digital Experience Management Software Market

The global digital experience management market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
North America is expected to have a large share of the market due to the presence of several significant players in the region, and the adoption of digital technologies.
The increasing adoption of mobile and cloud technologies by various small- and medium-sized companies in countries in Asia Pacific and Europe is likely to propel the demand for digital experience management software during the forecast period.
Demand for digital experience management software is increasing in China, Japan, India, and Germany due to the rising trend of bring your own device (BYOD).
The markets for digital experience management software in South America and MEA is also projected to witness high growth rates in the coming years due to the growth of digital technologies and the increasing acceptance of smartphones and tablets in the regions.

Various local and global players are active in the digital experience management software market with a strong presence such as OpenText Corporation, Oracle Corporation, and Zendesk.
The OpenText Platform enables marketing and business teams to generate and deliver Omni channel experiences. It contains the best applications that enable today’s technology stacks and marketing ecosystems to logically produce, customize, and deliver appealing experiences at scale. It provides a simplified, one-time purchase process with a single, fixed price for all critical experience platform applications and products that can be deployed on-demand.

Key players operating in the global digital experience management software market include: