Observed Signal · Sep 14, 2023 · Other · Source: CMSWire · Impact: 2/5 · Sentiment: Neutral
Next-Generation DXPs and cDXPs to Improve Omnichannel Engagement
The article examines the evolution of Digital Experience Platforms (DXPs) and composable DXPs (cDXPs) for omnichannel customer engagement. It highlights market growth from $12 billion in 2022 to $27 billion by 2028, the integration of AI for personalization, and the trade-offs between monolithic and composable architectures. Citing surveys from Uberall, Accenture, and McKinsey, it underscores rising consumer expectations for consistent, personalized experiences across channels. The piece includes insights from industry professionals at Uberall, Stanley Black and Decker, and JourneyEngine, and outlines key features, benefits, and implementation challenges of DXPs, such as integration complexity and the need for data governance.
Provides market analysis and trends on DXP and cDXP, relevant to MarTech but not a breaking event.
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Key Takeaways & Evidence Grounding
- The DXP market was valued at $12 billion in 2022 and is expected to reach $27 billion by 2028.
- 90% of consumers expect consistent brand experiences across channels and devices, according to a 2014 BusinessWire survey.
- 49% of consumers will turn to a competitor if their expectations are not met, per an Uberall survey.
- 91% of respondents are more likely to do business with brands that remember and recognize them, according to an Accenture survey.
- 76% of respondents said personalized communications were a key factor in brand consideration, per a McKinsey report.
Connected Companies & Entities
9 Entities mapped“Alyssa Trenkamp, VP of marketing communications at Uberall, a hybrid customer experience platform, told CMSWire that the most successful bus...”
“Adobe Experience Manager, for instance, uses Adobe Sensei, their AI and machine learning platform, to achieve automation and personalization...”
“Traditional DXPs are all-in-one suites that only rely upon one vendor (such as Adobe, Salesforce, SAP, or Oracle)....”
“Traditional DXPs are all-in-one suites that only rely upon one vendor (such as Adobe, Salesforce, SAP, or Oracle)....”
“Traditional DXPs are all-in-one suites that only rely upon one vendor (such as Adobe, Salesforce, SAP, or Oracle)....”
“Solutions such as the Sitecore Experience Platform use machine learning to not just track but predict customer behavior....”
“A survey from Accenture indicated that 91% of respondents are more likely to do business with brands that remember, recognize, and provide r...”
“A McKinsey report on personalization revealed that 76% of respondents said receiving personalized communications was a key factor in their c...”
“Gartner defines a DXP as an integrated set of core technologies that support the composition, management, delivery, and optimization of cont...”
Ontology Mapping & Concepts
Related Market Signals & Shifts
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