Global Multiexperience Development Platforms (MXDP) Market Forecast to 2032
Global Multiexperience Development Platform Market, the most recent market research study from Emergen Research, offers an estimated market size and share, recent industry trends, global market growth rates, key drivers and opportunities, challenges, product segmentation, and major market players. Price structure, market size, level of competition, product line and specifications, and company biographies.
According to the most recent report by Emergen Research, the size of the worldwide Multiexperience Development Platform (MXDP) market is anticipated to reach USD 19.48 billion at a consistent revenue CAGR of 21.8% in 2032. A significant driver boosting market revenue growth is the growing demand for custom mobile app development. MXDP provides qualified developers with a comprehensive range of front-end and back-end services that facilitate the scalable creation of fit-for-purpose apps for use across various digital touchpoints. It is not required to employ a sizable number of developers who are knowledgeable in a variety of hardware, software, and computer languages. With a single code base and numerous channels, an MXDP enables one's current team to develop a single, customised cloud-native software that can be loaded on any device.
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The global Multiexperience Development Platforms (MXDP) industry is highly consolidated owing to the presence of renowned companies operating across several international and local segments of the market. These players dominate the industry in terms of their strong geographical reach and a large number of production facilities. The companies are intensely competitive against one another and excel in their individual technological capabilities, as well as product development, innovation, and product pricing strategies.
The leading market contenders listed in the report are:
Appian, GeneXus, IBM, Mendix Technology BV, Microsoft, Oracle, OutSystems, Pegasystems Inc., Salesforce, Inc., and SAP
Research Report on the Multiexperience Development Platforms (MXDP) Market Addresses the Following Key Questions:
- Who are the dominant players of the Multiexperience Development Platforms (MXDP) market?
- Which regional market is anticipated to have a high growth rate over the projected period?
- What consumer trends and demands are expected to influence the operations of the market players in the Multiexperience Development Platforms (MXDP) market?
- What are the key growth drivers and restraining factors of the Multiexperience Development Platforms (MXDP) market?
- What are the expansion plans and strategic investment plans undertaken by the players to gain a robust footing in the market?
- What is the overall impact of the COVID-19 pandemic on the Multiexperience Development Platforms (MXDP) market and its key segments?
The report bifurcates the Multiexperience Development Platforms (MXDP) market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.
Segments Covered in this report are:
- Component Outlook (Revenue, USD Million; 2019–2030)
- Deployment Type Outlook (Revenue, USD Million; 2019–2030)
- Organization Size Outlook (Revenue, USD Million; 2019–2030)
- Small-and-Medium-Sized Enterprises (SMEs)
- Large Enterprises
Regional Landscape section of the Multiexperience Development Platforms (MXDP) report offers deeper insights into the regulatory framework, current and emerging market trends, production and consumption patterns, supply and demand dynamics, import/export, and presence of major players in each region.
The various regions analyzed in the report include:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Some Key Highlights From the Report
- On 19 August 2022, Globant, a digitally native company focused on redefining enterprises through cutting-edge technology launched Fast Code Studio. Globant's new studio aims to create the future of coding through a collection of adaptable and dynamic platforms that speed up time-to-market for their clients while simultaneously adding value. This new studio will make use of platforms from Globant X, an innovation hub that aids in platformization of Globant's most game-changing technology, including GeneXus for multi-experience development, Augoor for assisted coding, and MagnifAI for smarter testing.
- The platforms segment is expected to account for largest revenue share in the global market over the forecast period. Using multi-experience development platforms, software engineering teams can quickly create complex, interconnected user experiences for web, mobile, conversational, digital twin, Internet of Things (IoT), and Augmented Reality (AR) apps. The focus is therefore on creating tools that will enable a software engineering team to work more productively and successfully complete more projects. This is the reverse of low-code, which seeks to promote ‘Citizen Developer.’
- The on-premises segment is expected to account for highest revenue share in the global market over the forecast period. Businesses do not want that private information they handle to end up in wrong hands and on-premises solutions avoid this situation. Organizations are responsible for determining who has access to their own MXDPs and who does not. When selecting a cloud vendor, organizations are required to sign a lengthy contract. Occasionally, a single agreement binds a company for ten, fifteen, or even more years. When using on-premises, this is not the case. They can change to a different infrastructure whenever they want and are completely independent. On-premises software can help a corporation become more adaptive.
- The Banking, Financial Services, and Insurance (BFSI) segment accounted for largest revenue share in 2021. There are various benefits to adopting MXDP, especially for the BFSI sector, which enhances real-time deployment control, is extremely secure, and shortens the time to market for mobile apps. Development of online and mobile apps is made simple by MXDP platform, which also offers voice calling, augmented reality, chat, and wearable-based experiences. It follows the ‘build once, deploy as many times and across devices’ tenet, which makes it easy to increase income and offer top-notch customer experiences. With the aim of reducing operational processes and encouraging market expansion, low-code and MXDP are being implemented at an increasing rate.
- The North America market is expected to account for largest revenue share during the forecast period attributed to increasing activities by key market players in countries in this region. For example, GrowthSpace, the first outcome-driven individual development platform in the world, has unveiled a comprehensive service that enables companies to provide staff members tailored programs that hasten onboarding, enhance performance, and have a long-lasting effect. Planning, managing, and evaluating development programs that incorporate both internal and external experiences may be done by Human Resource (HR) and Learning and Development (LD) experts from a single location due to one-stop shop. This platform connects employees with the largest and most accessible global network of external business experts spanning over 60 countries across over 70 domains, including hard and soft skills, to promote individual and organizational success through integrative individual as well as group experiences.
The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the Multiexperience Development Platforms (MXDP) market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. The report also discusses the initiatives taken by the key companies to combat the impact of the COVID-19 pandemic.
Key Points of the Geographical Analysis:
- Data and information related to the consumption rate in each region
- Estimated increase in the consumption rate
- Proposed growth of the market share of each region
- Geographical contribution to market revenue
- Expected growth rate of the regional markets
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