Market Analysis and Insights: Middle East and Africa Digital Experience Platform Market
Middle East and Africa Digital experience platform market is expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge Market Research analyses that the market is growing with a CAGR of 15.5% in the forecast period of 2020 to 2027 and is expected to reach USD 2,981.53 million by 2027. Increasing digitalization in the region is a driving factor for the market growth.
Growing trend of doing online business in the region is booming since past two decades and with that growing technological advancements allowing companies to imply DXPs in order to gain customer base by providing better surfing experiences and make suitable purchase.
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Middle East and Africa Digital Experience Platform Market Scope and Market Size
Middle East and Africa digital experience platform market is segmented on the basis of component, deployment model, organization size, application and vertical. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of component, the market is segmented into platform and services. In 2020, platform segment dominates the market for component segment as platform is main segment which generates more revenue for providers and services segment acts as complementary such as consulting and training.
- On the basis of deployment model, the market is segmented into cloud and on premises. In 2020, on premises segment holds the largest market share because presently operating DXPs are mostly on premise based, however cloud segment is growing at the higher rate as it is the latest technology.
- On the basis of organization size, the market is segmented into small & medium enterprise and large enterprise. In 2020, large enterprise segment dominates the organization size segment and is expected to grow at higher rate as large organization mostly imply digital experience platforms, on the other hand SMEs segment use CMS which is less costlier than DXPs.
- On the basis of application, the market is segmented into business to customer, business to business and others. In 2020, business to customer segment dominates the application segment as most of the DXP features are suitable for B2C applications such as retailing of personal products, however business to business is growing at higher rate as BFSI, IT companies are opting DXPs for B2B operations.
- On the basis of vertical, the market is segmented into retail, BFSI, travel & hospitality, IT & telecom, healthcare, manufacturing, media and entertainment, education and others. In 2020, retail segment dominates the vertical segment and is growing at higher rate as online portals are majorly used in the region for personal and non-personal purchases.
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