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By 2027, the Multi-Experience Development Platform [MXDP] market worth likely to reach $24.64 billion!
The Grand View Research, Inc. report states that the market size worth in MXDP is likely to reach USD 24.64 billion by 2027 and would 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 (NLP) 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, is 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, making it easy to improve sales and offer top-notch customer experiences. The adoption rate of low-code and MXDP to focus on easing operational processes and fuelling the market growth is growing day by day.
In 2018, the Multi-Experience Development Platforms (MXDP) market value stood at USD 5.07 Billion, and it is to grow at a CAGR of 15.11% between 2019 & 2026.
Some of the key factors behind the growth of multi-platform application development are the need for higher levels of operational efficiency and the rising demand for custom mobile app development across organizations.
Read more about the advantages of MXDP platform here.