The global Multiexperience Development Platforms Market is expected to expand from USD 2.7 billion in 2022 to USD 7.2 billion by 2027, with a compound annual growth rate (CAGR) of 21.8% during this period. Key factors fueling this market growth include the closing of gaps in essential technical skills and the rising demand for technologies such as chatbots, AI, augmented reality (AR), virtual reality (VR), and machine learning.
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Platforms segment to account for larger market during the forecast period
As the number of devices, apps, and interaction modes grows, so will the demand for multiexperience development platforms. These platforms enable businesses to create web and mobile apps and voice, Augmented Reality (AR), chat, and wearable experiences, on a single platform that can be deployed across multiple devices. The COVID-19 pandemic has demonstrated that all enterprises require a technology platform that allows for rapid change. Several industries suffered significant losses, including manufacturing, tourism, and e-commerce, but mobile app development firms were operating at full capacity. Platforms, such as chatbots, AR, and VR devices, enable people to obtain information from machines in a natural, conversational manner via text and voice. The current global population using a smartphone is 6.6 billion. It means roughly 83.4% of the world’s population owns a smartphone. In the second half of 2020, almost 1.3 million wearables were purchased.
Cloud deployment type to record highest growth during forecast period
Cloud platforms enable customers to simplify application extension development, optimize business processes, and accelerate business value for intelligent enterprises. Customers expect consistent, personalized, and unified digital experiences across multisensory touchpoints and modalities. Cloud platforms aid in the digitalization and mobilization of supply chains to refine processes, improve teamwork, and foster enterprise cohesion. They also enable customers to create modern web and mobile apps, as well as chatbots for a variety of applications. Many companies support development by offering low-code tools for citizen developers and professional and cloud-native developer tools that support native architectures, cross-platform app architectures, and web-based app architectures. Many applications can be deployed on any cloud and benefit from continuous delivery and DevOps capabilities. The open-source foundation optimizes resource provisioning and speed, reducing time-to-market and increasing margins. Companies assist with deploying APIs or apps on any cloud, private, public, hybrid, on-premise, or traditional server. A cloud-agnostic approach provides multi-cloud visibility and management, auto-healing, and scalability with low overhead infrastructure.
North America projected to account for largest market during forecast period
North America is a mature market with growing technological advancements. Significant companies, such as Oracle, Salesforce, Microsoft Corporation, IBM, and ServiceNow, contribute to the region’s prominence. Several multiexperience development platforms aid in developing fit-for-purpose apps that work across various digital touchpoints, including mobile, wearables, web, chatbots, AR, and VR. Multiexperience apps are created using platforms, such as IBM, Microsoft, Appian, GeneXus, Oracle, Outsystems, Pega, Progress, Salesforce SAP, and Kony.
North America has the highest adoption rate of multiexperience development platforms due to the presence of numerous small, medium-sized, and large businesses in the region. This region has huge BFSI and IT markets, which is the major driving factor for multiexperience development platforms. Increased demand for multiexperience development platforms in mid-size enterprises is expected to support segmental growth. Over the forecast period, the region is expected to see significant growth opportunities. The large presence of prominent players in the region is a major factor driving the massive growth of the multiexperience development platforms market.
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Unique Features in the Multiexperience Development Platforms Market
One of the unique features of the Multiexperience Development Platforms (MXDP) market is the emphasis on providing comprehensive support across multiple channels. These platforms enable the development of applications that can operate seamlessly across a wide range of devices and interfaces, including mobile apps, web apps, chatbots, voice assistants, and wearable devices.
MXDPs stand out for their ability to integrate cutting-edge technologies such as Artificial Intelligence (AI), Augmented Reality (AR), Virtual Reality (VR), and Machine Learning (ML). These platforms allow developers to incorporate advanced functionalities into their applications, such as natural language processing for chatbots, immersive AR/VR experiences, and intelligent automation through AI and ML.
A significant feature of MXDPs is their support for low-code or no-code development environments. These tools enable users with minimal programming experience to build and deploy applications quickly. By offering drag-and-drop interfaces, pre-built templates, and reusable components, MXDPs reduce the dependency on highly specialized technical skills, making app development more accessible to a broader range of users within an organization.
MXDPs are designed to ensure cross-platform compatibility, allowing applications to function seamlessly across different operating systems and devices. This feature is crucial for organizations looking to deploy applications that need to reach a diverse user base without requiring separate development efforts for each platform.
Another unique feature of MXDPs is the emphasis on collaboration and workflow management within the development process. These platforms often include tools for team collaboration, version control, and project management, enabling developers, designers, and business stakeholders to work together more effectively. This collaborative environment helps streamline the development process, ensures alignment with business objectives, and accelerates time-to-market.
Major Highlights of the Multiexperience Development Platforms Market
The Multiexperience Development Platforms (MXDP) market is witnessing rapid expansion, with a significant increase in adoption across various industries. The market is projected to grow from USD 2.7 billion in 2022 to USD 7.2 billion by 2027, driven by the growing need for businesses to deliver seamless and consistent user experiences across multiple digital touchpoints.
A major highlight of the MXDP market is the rising demand for applications that incorporate advanced technologies like Artificial Intelligence (AI), Augmented Reality (AR), Virtual Reality (VR), and Machine Learning (ML).
The growing popularity of low-code and no-code platforms is another significant highlight in the MXDP market. These platforms are empowering a broader range of users, including those with limited technical expertise, to participate in the application development process.
MXDPs are increasingly recognized for their ability to support cross-platform development, allowing businesses to create applications that work seamlessly across different devices and operating systems. This capability is crucial in today’s multi-device world, where users expect consistent experiences whether they are on a smartphone, tablet, desktop, or wearable device.
Another key highlight is the emphasis on delivering a unified user experience across various digital channels. MXDPs are designed to ensure that users have a consistent and coherent experience, whether they are interacting with a brand via a mobile app, a web portal, a chatbot, or a voice assistant. This unified approach helps businesses strengthen customer engagement and loyalty.
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Top Companies in the Multiexperience Development Platforms Market
Some prominent players across all service types profiled in the multiexperience development platforms market study include Salesforce (US), SAP (Germany), Outsystems (US), Oracle (US), Microsoft (US), Mendix (US), Pegasystems (US), Progress (US), IBM (US), and ServiceNow (US).
Salesforce (US) :
Salesforce focuses on inorganic growth strategies, such as product launches, partnerships, collaborations, and acquisitions. In November 2022, it launched a new product, Marketing Effectiveness Bundle, to consolidate marketing technology tools onto a single platform. This product would enable businesses to exceed customer expectations, reduce costs, and drive efficient growth. Similarly, in June 2022, it introduced new Customer 360 innovations to connect marketing, commerce, and service data on a single platform, to allow businesses to connect, automate, and personalize every interaction while building trust at scale. Likewise, in June 2021, Salesforce and Amazon Web Services expanded their global strategic partnership, making it easier for customers to use the full set of Salesforce and AWS capabilities to quickly build and deploy powerful new business applications that accelerate digital transformation.
Salesforce has a Multiexperience development platform, Salesforce Lightning, a component-based framework for developing Salesforce apps. It aims at making Salesforce app development easier for business users who do not have programming experience. Salesforce Lightning has been the driving force behind the launching of the Salesforce1 Platform (now known as App Cloud), the company’s mobile app development platform.
Outsystems (US) :
OutSystems, another key vendor in the multiexperience development platforms market, offers a low-code development platform that enables businesses to create, deploy, and manage omnichannel enterprise applications. The application runs on cloud, on-premises or in hybrid environments. OutSystems released a free version of the platform in 2014, allowing developers to create and deploy web and mobile applications in personal cloud environments. For both the paid and unpaid versions, the current version is 11. Engineers designed every aspect of the OutSystems platform with obsessive attention to detail to help organizations build enterprise-grade apps and transform their businesses faster. OutSystems is the only solution that combines the power of minimal coding with advanced mobile capabilities, allowing the visual development of entire application portfolios that integrate seamlessly with existing systems. Today, it is regarded as a global leader in the modern application platform space, with over 435,000 community members, 350 partners, and thousands of active customers in 87 countries and 22 industries. The OutSystems platform significantly increases developer productivity; promotes elite-level CI/CD; and enables teams to deliver unique, high-value, complex apps quickly. Without missing a beat, it delivers complex enterprise applications and orchestrates workflows. The OutSystems platform automates all development layers, including front-end, back-end, and integrations. It connects to 400+ systems and existing technological investments, allowing faster development of the most complex integrations and providing high-performance, low-latency data access.
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