The global Customer Experience Management Market size is
expected to reach USD 32.87 billion by 2030 and expand at a significant CAGR of
15.4% from 2023 to 2030 according to the new report by Grand View Research.
Customer experience management solutions are gaining widespread popularity in
diverse industries. As businesses become more customer-centric, the customer
experience management (CEM) market is expected to witness rapid growth in the
forecast period. Ongoing trends such as hyper-personalization of customer
service, the use of AI and automation, and various customer value models are
the key attributes propelling the growth of the segment. Moreover, implementing
robust social media customer service can help reduce costs, increase response
times, improve customer satisfaction, and increase the adoption of customer
experience management platforms across industries.
As working from home becomes more common and is
facilitated by video conferencing, digital transformation of the employee
experience will be critical for growth. Remote working frequently leads to
higher Employee Satisfaction (E-SAT), which leads to higher overall Customer
Satisfaction (C-SAT). A remote workforce allows an organization to hire the
best talent from all over the world, which improves both the local and global
customer experiences. Organizations that want to keep their customer experience
scope onshore/nearshore could benefit from a right-shored work-at-home model
rather than an offshore-only model. These developments would further drive the
growth of the customer experience management market during the forecast period.
Organizations have implemented new business models
in order to broaden their customer reach and improve the end-user experience.
Organizations are also working to improve their ability to adapt to changing
customer expectations as well as market conditions. Several industries and
industry verticals are expanding their customer reach by utilizing various
e-commerce models such as e-retail, direct-to-customer (D2C), marketplace, and
social commerce. For instance, Oracle Corporation, a software company, provides
Oracle Commerce, a unified B2C, and B2B e-commerce platform. The solution uses
interactive dashboards and data visualizations and takes real-time insights
from every customer engagement.
List of Players in Customer Experience Management Market
- Adobe
- Avaya Inc.
- Clarabridge
- Freshworks Inc.
- Genesys
- International Business Machines Corporation
- Medallia Inc.
- Open Text Corporation
- Oracle
- Qualtrics
- SAP SE
- SAS Institute Inc.
- Service Management Group (SMG)
- Tech Mahindra Limited
- Verint
- Zendesk
- Miraway
Related
Press Release@ Customer Experience Management Market Report
Customer Experience Management Market Report Highlights
- The speech analytics segment is about to witness a
significant CAGR of 17.0% during the forecast period. Through the calls,
they assist enterprises in identifying areas of trends, opportunities, and
concerns. Speech analytics tools in contact centers help improve agent
performance, monitor compliance, streamline business processes, improve
first-call resolution, and improve customer experience.
- The mobile touchpoint segment is anticipated to expand at a CAGR of
17.2% over the forecast period. The segment's expansion can be attributed
to the increased use of smartphones, which enables businesses to develop
mobile marketing strategies. Furthermore, mobile CEM solutions enable
mobile carriers to participate in the development of long-term customer
relationships through customer-initiated requests.
- The cloud segment is anticipated to expand at a CAGR of 17.5% over
the forecast period. The cloud deployment model enables enterprises to
purchase only the features, added applications, or an updated version of
the software based on the pay-as-you-go subscription model. Owing to these
benefits, large enterprises are gradually investing in CEM software and collaborating
with technology providers for digital transformation.
- The BFSI segment is anticipated to register the highest CAGR of
16.7% over the forecast period. The segment growth can be attributed to
the increasing adoption of cloud-based deployment models and investments
in advanced technologies to offer digital finance management assistance.
- Asia Pacific is expected to register the highest CAGR of 17.1% over
the forecast period. With a significant presence of call centers, an
increasing trend of social media marketing, and a growing emphasis on
customer satisfaction across industries and sectors, the regional market
is expected to grow.
Related Reports@
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Relationship Management Market
Customer Experience Management Market Segmentation
Grand View Research has segmented the global
customer experience management market report based on analytical tools, touch
point type, deployment, end-use, and region:
Customer Experience Management Analytical Tools Outlook
(Revenue, USD Million; 2018 - 2030)
- EFM Software
- Speech Analytics
- Text Analytics
- Web Analytics & Content Management
- Others
Customer Experience Management Touch Point Type Outlook
(Revenue, USD Million; 2018 - 2030)
- Stores/Branches
- Call Centers
- Social Media Platform
- Email
- Mobile
- Web Services
- Others
Customer Experience Management Deployment Outlook
(Revenue, USD Million; 2018 - 2030)
- Cloud
- On-premise
Customer Experience Management End-use Outlook (Revenue,
USD Million; 2018 - 2030)
- BFSI
- Retail
- Healthcare
- IT & Telecom
- Manufacturing
- Government, Energy & Utilities
- Construction, Real Estate & Property Management
- Service Business
- Others
Customer Experience Management Regional Outlook (Revenue,
USD Million; 2018 - 2030)
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Italy
- Denmark
- Finland
- Norway
- Sweden
- Asia Pacific
- China
- India
- Japan
- Australia
- New Zealand
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- UAE
- Saudi Arabia
About Us:
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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