Multiexperience Development Platforms Market
Multiexperience Development Platforms Market Size, Share & Trends Analysis Report by Component(Platforms and Services), by Deployment Type (On-Premise and Cloud), by Enterprise Type (Small & Mid-size Enterprises (SMEs) and Large Enterprises)and by End-Users (BFSI, IT & Telecommunication, Government & Public Sector, Manufacturing, Retail & Consumer Goods, Healthcare & Life Sciences and Other) Forecast Period (2024-2031)
Multiexperience development platforms market is anticipated to grow at a significant CAGR of 10.9% during the forecast period (2024-2031).The market growth is attributed to the increasing adoption of emerging technologies such as Artificial Intelligence (AI), Augmented Reality (AR), Virtual Reality (VR), IoT (Internet of Things), and the developmentof seamless experiences via multiple channels. This enables to development of more easy and interactive applications. Multi-experience development platforms are beneficial for organizations to increase their operational efficiencies and improve app development time using streamlined design processes and reusable codes. Besides, it can also eliminate the shadow IT, which is a probable security risk that most organizations face.
Market Dynamics
Increasing Integration with Backend Services
With the use of a multiexperience development platform's Backend for Frontend(BFF) features and a set of front-end development tools, developers may create digital experiences, devices, and apps that span several touchpoints. When creating wearables, AI projects, conversational user interfaces, music recommendation apps, and other things, multiexperience offers a variety of input modalities including touch, voice, and gesture.Developers with the front-end and back-end tools and services create consistent user experiences across various devices, form factors, and digital media.Low-code tools, which include reusable out-of-the-box user interface components, design system integration, code generation capabilities, and more, speed up the entire design-to-code process and do away with laborious and error-prone hand coding.
Growing Use of Low-Code Development Tools via Multiexperience Development Platform's
Professional developers can construct applications more quickly by using low-code and no-code modular techniques via multiexperience development platforms, which eliminates the need for them to write line-by-line code. They also make it possible for non-software professionals, such as office managers, small business owners, and business analysts, to create and test applications.Rather than writing line-by-line scripts for every required function and capability, users can design programs as if they were creating a flowchart. Additionally, these platforms typically include tools that facilitate testing, prototyping, experimentation, and deployment. In particular, their security features are crucial for shielding the new apps from possible intrusions.
Market Segmentation
Our in-depth analysis of the global multiexperience development platforms market includes the following segments component, deploymenttype, enterprise type and end-users.
- Based oncomponents, the market is sub-segmented intoplatforms and services.
- Based on deployment type, the market is sub-segmented intoon-premise and cloud.
- Based on enterprise type,the market is sub-segmented intosmall & mid-size enterprises (SMEs) and large enterprises.
- Based on end-users, the market is sub-segmented into BFSI, IT & telecommunication, government & public sector, manufacturing, retail & consumer goods, healthcare & life sciences and other end-users (energy & utilities, media & entertainment, transportation & logistics).
Content Management & Collaboration is Projected to Emerge as the Largest Segment
Based on the component, the global multiexperience development platforms market is sub-segmented into platforms and services. Among theseplatforms,the sub-segment is expected to hold the largest share of the market. The primary factor supporting the segment's growth includes increasing adoption of digital asset management, product information management, web content management, analytics, AI, and Machine Learning (ML), among others. These platforms are being used by organizations to develop, test, and release applications for wearables, smartphones, and the web. For instance, in March 2022,Google Cloud introduced Contact Center AI reimagines the customer experience through full end-to-end platform expansion. It brings together the advantages of AI, cloud scalability, multi-experience capabilities, and tight integration with Customer Relationship Management (CRM) platforms to unify sales, marketing, and support teams.
Cloud Sub-segment to Hold a Considerable Market Share
Based ondeployment type, the global multiexperience development platformsmarket is sub-segmented intoon-premise and cloud. Among these, the cloud sub-segment is expected to holdaconsiderable share of the market.The segmental growth is attributed to the growing adoption of multiexperience development platforms via low investment costs, scalability, and agility provided by the cloud deployment approach. In addition, a growing demand for mobility and a sharp rise in small- and mid-size businesses, that use of cloud computing, is also contributing towards the segmental growth. Multi-experience development platforms can communicate with cloud service providers such as Amazon Web Services directly. Furthermore, MXDPs provide a fully distributed environment, which improves efficiency. This is accomplished by optimizing the deployment procedure.
Regional Outlook
The globalmultiexperience development platforms market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia-Pacific), and the Rest of the World (the Middle East & Africa, and Latin America).
Increasing Adoption of Multiexperience Development Platformsin Asia-Pacific
- The adoption of multiexperience development platformsis increasing, withthe rapid advancement of technology and the availability of robust communication tools, companies are increasingly embracing low-code apps in emerging countries such as China, India, Japan, and South Korea driving the growth of the market. According to the National Informatics Center (NIC),in March 2024, 70.0% of new apps built by enterprises would use low-code or no-code technologiesby 2025, up from less than 25.0% in 2020.
- The expanding industrial verticals including BFSI, IT, telecom, healthcare, and others aid in regional expansion. In addition, the number of small and medium-sized businesses in the region is rising which drives the regional market growth.
Global Multiexperience Development Platforms Market Growth by Region 2024-2031
North America Holds Major Market Share
Among all the regions, North America holds a significant share owing to numerous prominent technology companies and multiexperience development platformproviders in the region such as Salesforce Inc., Oracle Corp., IBM Corp., Microsoft Corp., Adobe Inc., and Google LLC among others. The growth is mainly attributed to the increased adoption of multiexperience development platformsolutions to manage low code via optimized service processes with low-code technology with increased adoption of AI and ML technologies.For instance, in March 2024, Deutsche Kreditbank AG (DKB) extended its contract with Pegasystems Inc. ahead of schedule. With Pegasystems' low-code Pega Platform™ and the Pega Constellation design system, the direct bank design and automate over 15 service processes by the middle of the year. This improvement in efficiency significantly increases service quality and customer satisfaction.
Market Players Outlook
*Note: Major Players Sorted in No Particular Order.
The major companies serving the global multiexperience development platformsmarket include Google LLC, Microsoft Corp., Oracle Corp., Salesforce, Inc. SAP SE, among others. The market players are increasingly focusing on business expansion and product development by applying strategies such as collaborations, mergers, and acquisitions to stay competitive in the market. For instance,in January 2024, Temenos and Deloitte partnered to provide technology solutions to help the US financial institutions accelerate core banking and payments modernization in the cloud. Through this agreement, Temenos and Deloitte Consulting LLP help financial institutions deliver modern digital experiences faster and at lower cost and take advantage of new business models.
Recent Development
- In October 2022, Oracle Corp. enabled enterprise developers to leverage Redwood UX components and services to extend investments in Oracle Fusion Cloud Applications. With the Oracle applications platform, customers and partners have access to the same tools that Oracle’s development organization uses to enable them to extend and personalize theapplications to fit the unique needs.
The Report Covers
- Market value data analysis of 2023 and forecast to 2031.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global multiexperience development platforms market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.2. Google LLC
3.2.1. Overview
3.2.2. Financial Analysis
3.2.3. SWOT Analysis
3.2.4. Recent Developments
3.3. Microsoft Corp.
3.3.1. Overview
3.3.2. Financial Analysis
3.3.3. SWOT Analysis
3.3.4. Recent Developments
3.4. Oracle Corp.
3.4.1. Overview
3.4.2. Financial Analysis
3.4.3. SWOT Analysis
3.4.4. Recent Developments
3.5. Key Strategy Analysis
4. Market Segmentation
4.1. Global Multiexperience Development Platforms Market by Component
4.1.1. Platforms
4.1.2. Services
4.2. Global Multiexperience Development Platforms Market by Deployment Type
4.2.1. On-Premise
4.2.2. Cloud
4.3. Global Multiexperience Development Platforms Market by Enterprise Size
4.3.1. Small & Mid-size Enterprises (SMEs)
4.3.2. Large Enterprises
4.4. Global Multiexperience Development Platforms Market by End-Users
4.4.1. BFSI
4.4.2. IT & Telecommunication
4.4.3. Government & Public Sector
4.4.4. Manufacturing
4.4.5. Retail & Consumer Goods
4.4.6. Healthcare & Life Sciences
4.4.7. Other Verticals (Energy & Utilities, Media & Entertainment, Transportation & Logistics)
5. Regional Analysis
5.1. North America
5.1.1. United States
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
5.4.1. Latin America
5.4.2. The Middle East & Afica
6. Company Profiles
6.1. ACI Infotech
6.2. Appian Corp.
6.3. Asana, Inc.
6.4. Convertigo SA
6.5. GeneXus
6.6. HCL Technologies Ltd.
6.7. HCL Technologies Ltd.
6.8. Mendix Technology BV
6.9. Mendix Technology BV
6.10. Neptune Software
6.11. OutSystems
6.12. OutSystems
6.13. Pegasystems Inc.
6.14. Salesforce, Inc.
6.15. SAP SE
6.16. ServiceNow, Inc.
6.17. Siemens AG
6.18. Signity Software Solutions
6.19. Temenos AG
6.20. Unvired Inc.
1. GLOBAL MULTIEXPERIENCE DEVELOPMENT PLATFORMS MARKET RESEARCH AND ANALYSIS BY COMPONENT,2023-2031 ($ MILLION)
2. GLOBAL MULTIEXPERIENCE DEVELOPMENT PLATFORMSMARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
3. GLOBAL MULTIEXPERIENCE DEVELOPMENT PLATFORMS SERVICESMARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
4. GLOBAL MULTIEXPERIENCE DEVELOPMENT PLATFORMS MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT TYPE,2023-2031 ($ MILLION)
5. GLOBAL ON-PREMISE MULTIEXPERIENCE DEVELOPMENT PLATFORMS MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
6. GLOBAL CLOUD MULTIEXPERIENCE DEVELOPMENT PLATFORMS MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
7. GLOBAL MULTIEXPERIENCE DEVELOPMENT PLATFORMS MARKET RESEARCH AND ANALYSIS BY ENTERPRISE TYPE,2023-2031 ($ MILLION)
8. GLOBAL MULTIEXPERIENCE DEVELOPMENT PLATFORMS FOR SMALL & MID-SIZE ENTERPRISES (SMES)MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
9. GLOBAL MULTIEXPERIENCE DEVELOPMENT PLATFORMS FOR LARGE ENTERPRISESMARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
10. GLOBAL MULTIEXPERIENCE DEVELOPMENT PLATFORMS MARKET RESEARCH AND ANALYSIS BY END-USERS,2023-2031 ($ MILLION)
11. GLOBAL MULTIEXPERIENCE DEVELOPMENT PLATFORMS FOR BFSIMARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
12. GLOBAL MULTIEXPERIENCE DEVELOPMENT PLATFORMS FORIT &TELECOMMUNICATIONMARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
13. GLOBAL MULTIEXPERIENCE DEVELOPMENT PLATFORMS FORGOVERNMENT & PUBLIC SECTORMARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
14. GLOBAL MULTIEXPERIENCE DEVELOPMENT PLATFORMS FORMANUFACTURINGMARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
15. GLOBAL MULTIEXPERIENCE DEVELOPMENT PLATFORMS FORRETAIL & CONSUMER GOODSMARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
16. GLOBAL MULTIEXPERIENCE DEVELOPMENT PLATFORMS FORHEALTHCARE & LIFE SCIENCESMARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
17. GLOBAL MULTIEXPERIENCE DEVELOPMENT PLATFORMS FOROTHER END-USERS MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
18. GLOBAL MULTIEXPERIENCE DEVELOPMENT PLATFORMS MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
19. NORTH AMERICAN MULTIEXPERIENCE DEVELOPMENT PLATFORMS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2023-2031 ($ MILLION)
20. NORTH AMERICAN MULTIEXPERIENCE DEVELOPMENT PLATFORMS MARKET RESEARCH AND ANALYSIS BY COMPONENT,2023-2031 ($ MILLION)
21. NORTH AMERICAN MULTIEXPERIENCE DEVELOPMENT PLATFORMS MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT TYPE,2023-2031 ($ MILLION)
22. NORTH AMERICAN MULTIEXPERIENCE DEVELOPMENT PLATFORMS MARKET RESEARCH AND ANALYSIS BY ENTERPRISE TYPE,2023-2031 ($ MILLION)
23. NORTH AMERICAN MULTIEXPERIENCE DEVELOPMENT PLATFORMS MARKET RESEARCH AND ANALYSIS BY END-USERS,2023-2031 ($ MILLION)
24. EUROPEAN MULTIEXPERIENCE DEVELOPMENT PLATFORMS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2023-2031 ($ MILLION)
25. EUROPEAN MULTIEXPERIENCE DEVELOPMENT PLATFORMS MARKET RESEARCH AND ANALYSIS BYCOMPONENT,2023-2031 ($ MILLION)
26. EUROPEAN MULTIEXPERIENCE DEVELOPMENT PLATFORMS MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT TYPE,2023-2031 ($ MILLION)
27. EUROPEAN MULTIEXPERIENCE DEVELOPMENT PLATFORMS MARKET RESEARCH AND ANALYSIS BY ENTERPRISE TYPE,2023-2031 ($ MILLION)
28. EUROPEAN MULTIEXPERIENCE DEVELOPMENT PLATFORMS MARKET RESEARCH AND ANALYSIS BY END-USERS,2023-2031 ($ MILLION)
29. ASIA-PACIFIC MULTIEXPERIENCE DEVELOPMENT PLATFORMS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2023-2031 ($ MILLION)
30. ASIA-PACIFICMULTIEXPERIENCE DEVELOPMENT PLATFORMS MARKET RESEARCH AND ANALYSIS BY COMPONENT,2023-2031 ($ MILLION)
31. ASIA-PACIFICMULTIEXPERIENCE DEVELOPMENT PLATFORMS MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT TYPE,2023-2031 ($ MILLION)
32. ASIA-PACIFICMULTIEXPERIENCE DEVELOPMENT PLATFORMS MARKET RESEARCH AND ANALYSIS BY ENTERPRISE TYPE,2023-2031 ($ MILLION)
33. ASIA-PACIFICMULTIEXPERIENCE DEVELOPMENT PLATFORMS MARKET RESEARCH AND ANALYSIS BY END-USERS,2023-2031 ($ MILLION)
34. REST OF THE WORLD MULTIEXPERIENCE DEVELOPMENT PLATFORMS MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
35. REST OF THE WORLD MULTIEXPERIENCE DEVELOPMENT PLATFORMS MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2023-2031 ($ MILLION)
36. REST OF THE WORLD MULTIEXPERIENCE DEVELOPMENT PLATFORMS MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT TYPE,2023-2031 ($ MILLION)
37. REST OF THE WORLD MULTIEXPERIENCE DEVELOPMENT PLATFORMS MARKET RESEARCH AND ANALYSIS BY ENTERPRISE TYPE,2023-2031 ($ MILLION)
38. REST OF THE WORLD MULTIEXPERIENCE DEVELOPMENT PLATFORMS MARKET RESEARCH AND ANALYSIS BY END-USERS,2023-2031 ($ MILLION)
1. GLOBAL MULTIEXPERIENCE DEVELOPMENT PLATFORMS MARKET SHARE BY COMPONENT,2023 VS 2031 (%)
2. GLOBAL MULTIEXPERIENCE DEVELOPMENT PLATFORMS MARKET SHARE BY REGION, 2023 VS 2031 (%)
3. GLOBAL MULTIEXPERIENCE DEVELOPMENT PLATFORMS SERVICES MARKET SHARE BY REGION, 2023 VS 2031 (%)
4. GLOBAL MULTIEXPERIENCE DEVELOPMENT PLATFORMS MARKET SHAREBY DEPLOYMENT TYPE,2023 VS 2031 (%)
5. GLOBAL ON-PREMISE MULTIEXPERIENCE DEVELOPMENT PLATFORMSMARKET SHARE BY REGION, 2023 VS 2031 (%)
6. GLOBAL CLOUD MULTIEXPERIENCE DEVELOPMENT PLATFORMSMARKET SHARE BY REGION, 2023 VS 2031 (%)
7. GLOBAL MULTIEXPERIENCE DEVELOPMENT PLATFORMSMARKET SHAREBY ENTERPRISE TYPE,2023 VS 2031 (%)
8. GLOBAL MULTIEXPERIENCE DEVELOPMENT PLATFORMS FOR SMALL & MID-SIZE ENTERPRISES (SMES)MARKET SHARE BY REGION, 2023 VS 2031 (%)
9. GLOBAL MULTIEXPERIENCE DEVELOPMENT PLATFORMS FOR LARGE ENTERPRISESMARKET SHARE BY REGION, 2023 VS 2031 (%)
10. GLOBAL MULTIEXPERIENCE DEVELOPMENT PLATFORMSMARKET SHAREBY END-USERS,2023 VS 2031 (%)
11. GLOBAL MULTIEXPERIENCE DEVELOPMENT PLATFORMS FOR BFSIMARKET SHARE BY REGION, 2023 VS 2031 (%)
12. GLOBAL MULTIEXPERIENCE DEVELOPMENT PLATFORMS FOR IT & TELECOMMUNICATIONMARKET SHARE BY REGION, 2023 VS 2031 (%)
13. GLOBAL MULTIEXPERIENCE DEVELOPMENT PLATFORMS FOR GOVERNMENT & PUBLIC SECTORMARKET SHARE BY REGION, 2023 VS 2031 (%)
14. GLOBAL MULTIEXPERIENCE DEVELOPMENT PLATFORMS FOR MANUFACTURINGMARKET SHARE BY REGION, 2023 VS 2031 (%)
15. GLOBAL MULTIEXPERIENCE DEVELOPMENT PLATFORMS FOR RETAIL & CONSUMER GOODSMARKET SHARE BY REGION, 2023 VS 2031 (%)
16. GLOBAL MULTIEXPERIENCE DEVELOPMENT PLATFORMS FOR HEALTHCARE & LIFE SCIENCESMARKET SHARE BY REGION, 2023 VS 2031 (%)
17. GLOBAL MULTIEXPERIENCE DEVELOPMENT PLATFORMS FOR OTHER END-USERS MARKET SHARE BY REGION, 2023 VS 2031 (%)
18. GLOBAL MULTIEXPERIENCE DEVELOPMENT PLATFORMS MARKET SHARE BY REGION, 2023 VS 2031 (%)
19. US MULTIEXPERIENCE DEVELOPMENT PLATFORMS MARKET SIZE, 2023-2031 ($ MILLION)
20. CANADA MULTIEXPERIENCE DEVELOPMENT PLATFORMS MARKET SIZE, 2023-2031 ($ MILLION)
21. UK MULTIEXPERIENCE DEVELOPMENT PLATFORMS MARKET SIZE, 2023-2031 ($ MILLION)
22. FRANCE MULTIEXPERIENCE DEVELOPMENT PLATFORMS MARKET SIZE, 2023-2031 ($ MILLION)
23. GERMANY MULTIEXPERIENCE DEVELOPMENT PLATFORMS MARKET SIZE, 2023-2031 ($ MILLION)
24. ITALY MULTIEXPERIENCE DEVELOPMENT PLATFORMS MARKET SIZE, 2023-2031 ($ MILLION)
25. SPAIN MULTIEXPERIENCE DEVELOPMENT PLATFORMS MARKET SIZE, 2023-2031 ($ MILLION)
26. REST OF EUROPE MULTIEXPERIENCE DEVELOPMENT PLATFORMS MARKET SIZE, 2023-2031 ($ MILLION)
27. INDIA MULTIEXPERIENCE DEVELOPMENT PLATFORMS MARKET SIZE, 2023-2031 ($ MILLION)
28. CHINA MULTIEXPERIENCE DEVELOPMENT PLATFORMS MARKET SIZE, 2023-2031 ($ MILLION)
29. JAPAN MULTIEXPERIENCE DEVELOPMENT PLATFORMS MARKET SIZE, 2023-2031 ($ MILLION)
30. SOUTH KOREA MULTIEXPERIENCE DEVELOPMENT PLATFORMS MARKET SIZE, 2023-2031 ($ MILLION)
31. REST OF ASIA-PACIFIC MULTIEXPERIENCE DEVELOPMENT PLATFORMS MARKET SIZE, 2023-2031 ($ MILLION)
32. LATIN AMERICAMULTIEXPERIENCE DEVELOPMENT PLATFORMS MARKET SIZE, 2023-2031 ($ MILLION)
33. MIDDLE EAST AND AFRICAMULTIEXPERIENCE DEVELOPMENT PLATFORMS MARKET SIZE, 2023-2031 ($ MILLION)
