“Global Multiexperience Development Platforms Market to reach a market value of 15.3 Billion by 2031 growing at a CAGR of 21.6%”
The Global Multiexperience Development Platforms Market size is expected to reach $15.3 billion by 2031, rising at a market growth of 21.6% CAGR during the forecast period.
Rapid technological changes and the need to offer uninterrupted, multichannel experiences to customers and businesses make MXDPs an asset in this sector. With 5G networks expanding and edge computing becoming more prominent, IT and telecom companies increasingly utilize MXDPs to develop and deploy applications that offer high-speed, low-latency interactions across various devices. This enables telecom operators and IT service providers to deliver more interactive customer and enterprise services. Thus, the IT & telecom segment acquired 15% revenue share in the multiexperience development platforms market in 2023.
The major strategies followed by the market participants are Partnership as the key developmental strategy to keep pace with the changing demands of end users. For instance, In January, 2024, Siemens came into partnership with Amazon Web Services (AWS) to integrate Amazon Bedrock into its Mendix low-code platform, democratizing generative AI in software development. This collaboration empowers businesses to create and upgrade applications without programming expertise, addressing skilled labor shortages and accelerating digitalization. With Mendix's robust low-code capabilities and AWS's advanced AI technologies, companies can enhance competitiveness, resilience, and sustainability across various sectors. Additionally, In July, 2023, OutSystems partnered with Collabera Digital to accelerate digital transformation initiatives in the Philippines. Collabera Digital has established a Low Code Centre of Excellence to gain expertise in the OutSystems platform, enabling faster app development, seamless integration, scalable solutions, and enhanced user experiences.
Based on the Analysis presented in the KBV Cardinal matrix; Microsoft Corporation is the forerunner in the Multiexperience Development Platforms Market. Companies such as Siemens AG, SAP SE, IBM Corporation are some of the key innovators in Multiexperience Development Platforms Market. In May, 2023, Microsoft Corporation partnered with Builder.ai, a startup that helps companies make applications without any coding experience. Following this partnership, Microsoft aims to enable clients to create business apps on the platform, Builder.ai which includes Natasha, its own AI assistant, into its Teams video and chat software.
Integrating AI and automation in multiexperience development platforms (MXDPs) transforms application development by making it more accessible and efficient. With AI-driven tools and low-code/no-code development environments, non-technical users can now build applications using simple interfaces, reducing the need for extensive coding skills.
Additionally, as more IoT devices enter households and industries, the complexity of managing interactions between different device types increases. For example, in a smart home, devices such as thermostats, lighting systems, security cameras, and voice-activated assistants must create unified user experience. MXDPs simplify the development process by offering a single platform where developers can design applications that ensure interoperability across various IoT environments. Therefore, as IoT continues to expand, the role of MXDPs will become even more critical, enabling businesses to develop the next generation of smart applications that cater to the diverse and interconnected IoT landscape.
While the long-term benefits of multiexperience platforms—such as enhanced customer engagement and operational efficiency—are clear, many businesses struggle to justify the upfront investment. The high initial costs often overshadow potential gains, leading companies to delay or forgo MXDP implementation altogether. Hence, the market's growth is slowed, particularly among smaller enterprises that cannot overcome the financial barriers.
The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The illustration above shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater to demand coming from the different industries. The key developmental strategies in the market are Partnerships, Collaborations and Agreements.
On the basis of deployment type, the market is classified into on-premise and cloud. The on-premise segment recorded 36% revenue share in the market in 2023. Organizations particularly favor this deployment type with stringent data privacy requirements, such as financial institutions, healthcare providers, and government entities.
Based on component, the market is bifurcated into platforms and services. The services segment procured 38% revenue share in the market in 2023. Services such as consulting, integration, and support have become crucial for businesses to effectively implement and optimize their multiexperience development platforms.
By enterprise size, the market is divided into large enterprises and small & medium enterprises (SMEs). The large enterprises segment witnessed 67% revenue share in the market in 2023. These organizations often manage complex operations across multiple touchpoints—such as mobile, web, and voice interfaces—and require robust platforms to deliver consistent, integrated user experiences. enterprises.
Based on end use, the market is segmented into BFSI, IT & telecom, retail & consumer goods, manufacturing, energy & utilities, healthcare & life sciences, government & public sector, and others. The BFSI segment procured 25% revenue share in the market in 2023. The BFSI sector has a significant demand for digital transformation to meet customer expectations for seamless financial services across multiple platforms, including mobile apps, web portals, and chatbots.
Free Valuable Insights: Global Multiexperience Development Platforms Market size to reach USD 15.3 Billion by 2031
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Europe segment procured 29% revenue share in the market in 2023. European countries increasingly adopt MXDPs to enhance their digital transformation initiatives, particularly manufacturing, retail, and financial services.
The multiexperience development platforms (MXDP) market is highly competitive, driven by the need for integrated, omnichannel experiences across mobile, web, and wearable devices. Key attributes include flexibility, low-code/no-code tools, AI integration, and scalability. The competition centers on delivering robust APIs, security features, and seamless integration with enterprise systems. Platforms that enable faster development and enhanced user experiences are gaining traction, as businesses prioritize customer engagement and operational efficiency in an increasingly digital landscape.
| Report Attribute | Details |
|---|---|
| Market size value in 2023 | USD 3.4 Billion |
| Market size forecast in 2031 | USD 15.3 Billion |
| Base Year | 2023 |
| Historical Period | 2020 to 2022 |
| Forecast Period | 2024 to 2031 |
| Revenue Growth Rate | CAGR of 21.6% from 2024 to 2031 |
| Number of Pages | 329 |
| Tables | 464 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Market Share Analysis, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Enterprise Size, Component, Deployment Type, End Use, Region |
| Country scope |
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| Companies Included | Microsoft Corporation, Salesforce, Inc., IBM Corporation, Oracle Corporation, SAP SE, Siemens AG (Mendix), Pegasystems, Inc., ServiceNow, Inc., Appian Corporation, Progress Software Corporation and OutSystems |
By Enterprise Size
By Component
By Deployment Type
By End Use
By Geography
This Market size is expected to reach $15.3 billion by 2031.
Increasing demand for customized user experiences are driving the Market in coming years, however, High upfront costs associated with implementing MXDP restraints the growth of the Market.
Microsoft Corporation, Salesforce, Inc., IBM Corporation, Oracle Corporation, SAP SE, Siemens AG (Mendix), Pegasystems, Inc., ServiceNow, Inc., Appian Corporation, Progress Software Corporation and OutSystems
The expected CAGR of this Market is 21.6% from 2024 to 2031.
The Platforms segment is leading the Market by Component in 2023; thereby, achieving a market value of $9.3 billion by 2031.
The North America market dominated the Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $5.8 billion by 2031.
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