Multiexperience Analytics Market

Multiexperience Analytics Market Overview

The global Multiexperience Analytics Market size was valued at USD 5.49 billion in 2023 and is predicted to reach USD 18.73 billion by 2030 with a CAGR of 19.2% from 2024-2030. The multiexperience analytics market also known as multiexperience development platform (MXDP), which is an enabling technology that allows organizations to understand user interaction and optimize experiences across different digital touchpoints or platforms. These include mobile and web applications, instant messaging applications including chatbots and other digital touch-points such as wearable technology, smart speakers, virtual reality (VR) and augmented reality (AR) environments and social media. This process aggregates and analyze data from diverse user experiences to derive insights into customer behavior, preferences, and overall level of engagement. This capability enables businesses to make informed decisions for better user experience, optimized digital touchpoints, and improving customer satisfaction.

Market Dynamics and Trends

The multiexperience analytics market trends is experiencing significant development, especially in the banking, financial services, and insurance (BFSI) sector, due to the increasing need for digital communication tools such as chatbot for customer support and inquiries.

For instance, in February 2024, One Zero, an Israeli bank launched an AI powered chatbot that address customers’ queries and perform tasks independently. It is built with generative pre-trained transformer (GPT) technology that aims to be more personalized and conversational than standard chatbots.

Furthermore, the expanding e-commerce sector is driving the use of multiexperience analytics due to the growing demand for immersive user experiences across numerous digital channels. As brands interact with consumers through websites, mobile phone applications, augmented reality (AR) / virtual reality (VR), voice assistants hence advanced analytics are required to comprehend and optimize these diverse touchpoints. 

This enables e-commerce platforms to deliver personalized experiences, enhance customer engagement, and stay competitive while complying with data privacy regulations. As per the Boston Consulting Group (BCG) report 2023, the e-commerce industry is expected to covered 41% of global retail sales.

Additionally, the rising adoption of Industry 4.0 in smart factories further drives the multiexperience analytics solutions to manage and interpret vast data streams effectively. As per the Next Move Strategy Consulting (NMSC) Report 2024, the industry 4.0 market size was valued at 115.21 billion in 2023 and is predicted to reach 432.99 billion by 2030 with a CAGR of 20.85% from 2024-2030.

However, the high upfront cost associated with multiexperience analytics industry hinders the growth of the market for smaller businesses and startups with limited financial resources. On the contrary, the integration of advanced artificial intelligence (AI) into the operations of small to medium-sized enterprises (SMEs) empowers these businesses to anticipate real-time trends effectively, enabling them to make proactive decisions, optimize their processes, and enhance customer experiences through predictive analytics and data-driven insights. 

For instance, in May 2024, Salesforce collaborated with Singapore's Infocomm Media Development Authority (IMDA) to launch the Data + AI Boost SME Program, reaching out to 5,000 SMEs of all stages. The initiative aims to democratize AI access, empowering SMEs to leverage their data for informed decision-making and business expansion.

Market Segmentations and Scope of the Study

The multiexperience analytics market report is segmented on the basis of component, deployment type, end user, and region. On the basis of component, the market is divided into platform and services. On the basis of deployment type, the market is divided into on-premises and cloud. On the basis of end-user, the market is divided into BFSI, IT & telecom, e-commerce, manufacturing, energy & utilities, healthcare and life sciences, and others. Regional breakdown and analysis of each of the aforesaid segments include regions comprising North America, Europe, Asia-Pacific, and RoW.

Geographical Analysis

North America dominates the multiexperience analytics market share and is expected to continue its dominance during the forecast period. This is owing to the presence of key players such as Salesforce Inc., Oracle Corporation, and Microsoft Corporation are driving the growth of multiexperience analytics industry that are engaged in developing advanced platforms for deeper insights, and expanding integrations to provide comprehensive digital solutions in this region. 

For instance, in March 2024, Oracle introduced Oracle Analytics Server (OAS) to improve the overall user experience, enhance data analysis capabilities, and streamline the process of updating environments. This launch helps to boost user experience, expanding analytical capabilities, and optimizing operational updates.

Furthermore, the growth of the manufacturing sector in countries such as the U.S., and Canada is focusing significantly towards the advancement of the multiexperience development platform market. As manufacturing operations embrace digital transformation through technologies including IoT, automation, and AI. The latest report published by the U.S. Department of Commerce (DOC), the contribution of manufacturing sector accounted for USD 2.3 trillion to the U.S. GDP which is equivalent to 11.4 % of total U.S. GDP in 2022.

The crucial role of the manufacturing sector in the U.S. economy drives the demand for multiexperience analytics, that leverages data from digital technologies to optimize operations and enhance the customer experiences. On the other hand, Asia-Pacific is considered fastest growing region in the multiexperience analytics industry. This is due to the rapid growth of e-commerce sector in this region. 

In countries such as India and China citizens are increasingly engaging in online purchasing, that fuels the rapid growth of the e-commerce sector in these countries. As per Invest India report 2024, the India's online shopper base to be the 2nd largest globally by 2030, with nearly 500-600 million shoppers.

This surge in online shopping sector is boosting the multiexperience analytics industry, as businesses prioritize understanding and optimizing digital user interactions. Furthermore, the rising government investment in terms of AI through various initiatives such as India's National Health Policy and China's "Healthy China 2030," to leverage AI's potential in healthcare fuels the market.

For instance, in Jan 2024, the government of India launched AI supported telemedicine mobile clinic named “Aarogya-Doctors on Wheels" in Jammu and Kashmir. This initiative aims to provide healthcare facilities to remote hilly areas where such facilities are either not available or inadequately available.

Competitive Landscape

The multiexperience analytics industry comprising of various market key players such as, Salesforce Inc., SAP SE, OutSystems, Oracle Corporation, Microsoft Corporation, Mendix Technology, Pegasystems Inc., ServiceNow., GeneXus, Temenos SA, and others. These market players are adopting various strategies such as collaborations and product launches to maintain their dominance in the global market. 

For instance, in January 2024, Microsoft launched new generative AI and data solutions for retailers that span the shopper journey, from enabling personalized shopping experiences to empowering store associates and unlocking retail data insights.

Moreover, in August 2022, Outsystems collaborated with Sodexo Engage (from Pluxee) to enhance employee engagement and benefits management. This growth is significant in the context of the multiexperience development platform market, where organizations seek solutions to improve overall workforce experiences and streamline HR operations.

Key Benefits

• The report provides quantitative analysis and estimations of the multiexperience analytics market from 2024 to 2030, which assists in identifying the prevailing industry opportunities.

• The study comprises a deep dive analysis of the current and future multiexperience analytics market trends to depict prevalent investment pockets in the industry.

• Information related to key drivers, restraints, and opportunities and their impact on the multiexperience analytics market is provided in the report. 

• Competitive analysis of the key players, along with their market share is provided in the report.

• SWOT analysis and Porters Five Forces model is elaborated onthe study.

• Value chain analysis in the market study provides a clear picture of roles of stakeholders.

Multiexperience Analytics Key Market Segment

By Component 

• Platform

• Services 

By Deployment Type 

• On-premises

• Cloud

By End User 

• BFSI 

• IT & Telecom

• E-commerce 

• Manufacturing

• Energy & Utilities

• Healthcare & Life Sciences

• Others

By Region

• North America

  • The U.S.

  • Canada

  • Mexico

• Europe

  • The UK

  • Germany

  • France        

  • Italy        

  • Spain        

  • Denmark        

  • Netherlands        

  • Finland        

  • Sweden        

  • Norway        

  • Russia        

  • Rest of Europe    

• Asia-Pacific

  • China

  • Japan

  • India

  • South Korea

  • Australia

  • Indonesia

  • Singapore

  • Taiwan

  • Thailand

  • Rest of Asia-Pacific

• RoW

  • Latin America

  • Middle East

  • Africa

 

REPORT SCOPE AND SEGMENTATION:

Parameters	Details
Market Size in 2023	USD 5.49 Billion
Revenue Forecast in 2030	USD 18.73 Billion
Growth Rate	CAGR of 19.2% from 2023 to 2030
Analysis Period	2023–2030
Base Year Considered	2023
Forecast Period	2024–2030
Market Size Estimation	Billion (USD)
Growth Factors	The adoption of multiexperience analytics in the BFSI fuels the market. Rising e-commerce sector boost the demand for the multiexperience analytical solutions.
Countries Covered	28
Companies Profiled	10
Market Share	Available for 10 companies
Customization Scope	Free customization (equivalent up to 80 working hours of analysts) after purchase. Addition or alteration to country, regional, and segment scope.
Pricing and Purchase Options	Avail customized purchase options to meet your exact research needs.

KEY PLAYERS

• Salesforce Inc.

• SAP SE

• Outsystems

• Oracle Corporation

• Microsoft Corporation

• Mendix Technology

• Pegasystems Inc.

• ServiceNow

• GeneXus

• Temenos SA