We are living through an era of unparalleled digital development, where the latest trends and shifts on the world stage continually disrupt the landscape of digital experiences. 2024 promises to be another year of both transformation and disruption.
According to a recent report by SNS Insider, the Digital Experience Platform (DXP) market is expected to grow to $28.21 billion by 2030 at a rate of about 12%. The report also highlighted the need for personalized, omnichannel experiences and the importance of analytics and security as a market driver.
Given the dominance of DXPs, here are some of the top trends you should expect to see in 2024 that will define and evolve future digital interactions:
1. Comprehensive Customer Journey Functionality
DXPs offer comprehensive end-to-end journey capabilities, providing seamless support from customer acquisition to retention. A single DXP acts as a critical catalyst for reflecting an organization’s strategic commitment to aligning business, marketing, and technology—key to formulating synergistic digital strategies for the future.
2. Accelerated Seamless Integration for Innovation
DXPs are evolving to integrate seamlessly with a growing array of complex systems as organizations prioritize unifying technology ecosystems. This prioritization illustrates the important role DXPs play in promoting platform consistency, improving operational efficiency, and increasing competitive advantage. At the same time, DXPs are becoming scalable and adaptable, with built-in support for long-term business strategies. That makes integration an innovation-enabler, empowering organizations to shape plans proactively around the solid foundation of a DXP and preventing costly speculation about the possibility of replacing technology in the future.
3. Open-Source and Future Security
More and more, organizations are looking to open-source solutions for future-proofing. Open-source solutions prevent concerns about being “locked in” with a vendor because of their flexibility. Broader adoption of open-sourced DXPs signals an era of both long-term adaptability and fortified security.
4. Transformative Cloud-Centric Digital Experiences
Digital experiences created on the cloud underscore not only the cloud’s pivotal role in the future but also how businesses are redefining the way they conceive, deploy, and optimize interactions digitally.
5. Major Business Model Shifts
As traditional B2B or B2C models move towards B2B2C approaches, DXPs will play a pivotal role in embracing these changing market dynamics. DXPs shine at being adaptable allies, facilitating seamless transitions and providing a technological foundation for successful navigation between business models.
6. Expansion of Information-Driven Digital Experiences Across Channels
Content is still king in an age of increasing digital journey expectations. DXPs allow companies to leverage content creation and tools like blogs, explainer videos, and knowledge bases to foster engagement, education, and trust with the user. Additionally, DXPs help curate content across channels like text, video chat, and social media to suit modern user preferences.
7. AI and Machine Learning Integration
Using AI and machine learning for both behavioral preference predictions and process automation will be key to understanding how users behave. DXPs integrate with these capabilities to optimize experiences at various touchpoints.
8. Remote Work and Hybrid Experiences
The post-pandemic shift towards remote work and hybrid models will continue to influence digital interactions. DXPs will accommodate these needs by supporting seamless collaboration, communication, and productivity across distributed teams.
Standing in the early days of 2024, the digital landscape is in a state of unprecedented transformation, with DXPs leading the charge. These eight trends mark significant changes in how businesses conceptualize and deliver digital interactions. As organizations around the world embrace these trends, expect even more transformation and disruption in the future.
Interested in a DXP that can help you harness these trends in 2024 and beyond? Request a demo of Liferay DXP and start creating digital experiences, your way.