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By 2027, the Multi experience Development Platforms [MXDP] Market Worth likely to reach $24.64 Billion
The report by Grand View Research, Inc. states that the market size worth in MXDP is likely to reach USD 24.64 billion by 2027, and projected to register a CAGR of 18.2% over the forecast period.
The emerging markets have empowered customers, which has led to the shift in the customer’s expectations, and a rise in custom mobile app development from across companies. The increasing importance of the new digital interfaces and technology such as Natural language processing and connected wearables has led to the surge in demand for multi-experience development platforms.
Adopting MXDP offers quite a range of benefits, especially for the BFSI Sector. It increases the speed to market for mobile apps, highly secure, and provides better control over actual deployment. MXDP is a platform that enables easy development of web and mobile apps, offers voice call features, AR, chat and wearable based experiences. It follows the build once – deploy as many times and across devices model, which makes it easy to improve sales and offer top-notch customer experiences. We are seeing an increase in adoption of low-code and MXDP with the focus on easing operational processes and fuelling the market growth.
Back in 2018, the Multi Experience Development Platforms (MXDP) market value stood at USD 5.07 Billion and it is expected to grow at a CAGR of 15.11% [between 2019 & 2026]. Some of the key factors behind the growth of the MXDP are – need for higher levels of operational efficiency and the rising need for custom mobile app development across organizations.