Digital Experience Management Software: Introduction
- 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.
Global Digital Experience Management Software Market: Dynamics
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.
Global Digital Experience Management Software Market: Competition Landscape
- 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:
- OpenText Corporation
- Oracle Corporation
- Adobe Systems Incorporated
- Microsoft Corporation
- Maxymiser Inc.
- Zendesk Inc.
- Evergage Inc.
- SAP SE
- Sitecore Inc.
- Zebra Technologies Corporation
- Demandware Inc.
- Acquia Inc.
- IBM Corporation
Global Digital Experience Management Software Market: Research Scope
Global Digital Experience Management Software Market, by Type
- Digital Asset Management Software
- Web Content Management Software
- Content Sourcing and Curation Solutions
- Enterprise Video/VCM Solutions
Global Digital Experience Management Software Market, by Enterprise size
- Large Enterprises
- Small and Medium Enterprises
Global Digital Experience Management Software Market, by Deployment
Global Digital Experience Management Software Market, by Application
- IT & Telecommunication
- Transportation & Logistics
Global Digital Experience Management Software Market, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.