Customer Experience Management Market: Global Market Estimation, Dynamics, Trends, Competitor Analysis 2015-2020 and Forecast 2021-2027

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Global Customer Experience Management Market: By Component (Solutions and Services), By Touchpoint (Call Center, Email, Mobile App, Social Media, Store, Virtual Assistant, Website and Others), By Deployment Type (Cloud and On-Premises), By End User (BFSI, Automotive, Healthcare, IT and Telecom, Media and Entertainment, Public Sector, Retail, Travel and Hospitality and Others) and Geography

 

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Report

Description

The customer experience management market was valued at USD 8.6 billion in 2020 and is anticipated to grow at USD 15.2 billion by 2027, at a Compount Annual Growth Rate (CAGR) of 11.9% from 2021 to 2027. During the projected period, the global customer experience management market is expected to rise at a rapid pace. The increased demand to improve customer experience and satisfaction levels is driving the worldwide customer experience management market. Furthermore, increased deployment of sophisticated technologies such as AI, big data analytics, IoT, Cloud Computing, and Machine Learning, among others, to provide better, more dependable, and efficient customer services that can minimise customer churn rates is likely to boost the market through 2026. Furthermore, the key vendors operating in the market are likely to increase their investments, R&D, and new product launches in the coming years, creating attractive potential for market growth. However, a lack of understanding about the technologies’ availability could stifle industry expansion. Furthermore, high costs combined with consumer hesitancy in selecting the suitable technology may stymie market expansion during the forecast period. Component, deployment style, touch point, organisation size, end user industry, company, and location are all used to segment the worldwide customer experience management market. The market can be divided into two categories based on deployment mode: on-premises and cloud. Because of the flexibility, scalability, 24/7 availability, vast storage space, and other benefits associated with cloud, the cloud sector is likely to dominate the market. The market can be divided into social media, branches/stores, the online, call centres, company websites, email, mobile, and others based on touch points. Global customer experience management market is surging owing to frequent acquisitions and launchings by the market players. For Instance, In March 2019, Oracle partnered with TWINSET, an Italian Clothing Brand, for providing the company with Oracle Retail’s modern point-of-service (POS) technology. This technology would enhance customer experience at TWINSET stores by providing all transactional details to the in-store staff thus helping them suggest to customers necessary styling and information related to the latest merchandise and more. Some of the key factors fostering the market growth include need for better understanding customers, growing numbers of consumers, increase in the spending capacity of the companies, growing focus towards consumer oriented market and increasing e-commerce. However, high costs and lack of awareness regarding customer experience managements are hindering the market growth.

 


Customer Experience Management Market

MARKET SUMMARY
-
11.9%
  • Study Period– 2021-2027
  • Base Year– 2020
  • CAGR–11.9%
  • Largest Market– North America
  • Fastest Growing Market– Asia-Pacific

Global Customer Experience Management Market

  • The report on global customer experience management market gives historical, current, and future market sizes (US$ Bn) on the basis of component, touchpoint, deployment type, end user and region.
  • This report studies global customer experience management market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market.
  • In addition, global customer experience management market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition.
  • Moreover, PBI analyzed global customer experience management market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product opportunities).
  • Key stakeholders of the global customer experience management market report include suppliers, manufacturers, marketers, policy makers, and healthcare service providers engaged in global customer experience management products.
Market Key Players
  • Adobe Systems
  • Clarabridge
  • IBM
  • Nokia
  • Oracle Corporation
  • SAP
  • SAS Institute
  • SDL
  • Sitecore
  • Tech Mahindra
  • Verint Systems
Growth

Customer Experience Management Market

E-commerce shopping has changed the retail landscape as more and more consumers are looking for convenience, variety, and competitive pricing. E-commerce sales is projected to hold huge shares, which proves that this massive shift from traditional retail is not going away anytime soon. The world of online marketing is rapidly changing and a lot of times complex. Technology advances and newer platforms rise in an infinite possible way allowing people to interact online differently each time. There are various ways to creatively improve ecommerce customer experience that will generally increase customer loyalty and ultimately profits. Today, more people are buying services and products online than from the local brick-and-motor retail stores because of the convenience eCommerce stores offer.


North-America Got Significant Share

Customer Experience Management Market

Global customer experience management market report gives comprehensive outlook on customer experience management across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America accounted for larger revenue share in global customer experience management market with considerable CAGR. The growth in this region is due to the increasing execution of customer experience management solutions by organizations and enterprises in the country. High growth of AI and data analytics and high pace of digital transformation are other factors responsible for market growth. Also, as Canada is the digital economy and presence of the huge organizations in the country would enable the country to grow at a steady growth during estimated period. In addition, Asia Pacific held considerable market share during predicted period.

Latin America
Latin-America
North-America
North-America
Europe
Europe
Asia Pacific
Asia-Pacific
Middle East
Middle East

Key

Key Features of the Report

  • The report provides granular level information about the market size, regional market share, historic market (2015 to 2020) and forecast (2021 to 2027)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments and startup’s details that are actively working in the market
  • The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
  • The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market

Key

Key Findings of the Report

Customer Experience Management Market Segmentation


Location

GEOGRAPHY


Report

Table Of Content

Table of Content

  1. Executive Summary
  2. Global Customer Experience Management Market Introduction
    • Global Customer Experience Management Market – Taxonomy
    • Global Customer Experience Management Market –Definitions
      • Component
      • Touchpoint
      • Deployment Type
      • End User
  1. Global Customer Experience Management Market Dynamics
    • Drivers
    • Restraints
    • Opportunities/Unmet Needs of the Market
    • Trends
    • Global Customer Experience Management Market Dynamic Factors – Impact Analysis
    • Global Customer Experience Management Market – Competition Landscape
  2. Global Customer Experience Management Market Analysis, 2014 – 2018 and Forecast, 2019 – 2025
    • Market Analysis, 2014 – 2018 and Forecast, 2019 – 2025 (Revenue, USD Mn)
    • Year-over-Year (Y-o-Y) Growth Analysis (%)
    • Market Opportunity Analysis
  3. Global Customer Experience Management Market, By Component, 2014 – 2018 and Forecast, 2019 – 2025 (Revenue, USD Mn)
    • Solutions
      • Machine Learning
        • Market Analysis, 2014 – 2018 and Forecast, 2019 – 2025 (Revenue, USD Mn)
        • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
        • Market Opportunity Analysis
      • Workforce Optimization
        • Market Analysis, 2014 – 2018 and Forecast, 2019 – 2025 (Revenue, USD Mn)
        • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
        • Market Opportunity Analysis
      • Omni-Channel
        • Market Analysis, 2014 – 2018 and Forecast, 2019 – 2025 (Revenue, USD Mn)
        • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
        • Market Opportunity Analysis
      • Analytics
        • Market Analysis, 2014 – 2018 and Forecast, 2019 – 2025 (Revenue, USD Mn)
        • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
        • Market Opportunity Analysis
      • Services
        • Managed Services
          • Market Analysis, 2014 – 2018 and Forecast, 2019 – 2025 (Revenue, USD Mn)
          • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
          • Market Opportunity Analysis
        • Professional Services
          • Consulting Services
            • Market Analysis, 2014 – 2018 and Forecast, 2019 – 2025 (Revenue, USD Mn)
            • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
            • Market Opportunity Analysis
          • Training
            • Market Analysis, 2014 – 2018 and Forecast, 2019 – 2025 (Revenue, USD Mn)
            • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
            • Market Opportunity Analysis
          • Support & Maintenance Services
            • Market Analysis, 2014 – 2018 and Forecast, 2019 – 2025 (Revenue, USD Mn)
            • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
            • Market Opportunity Analysis
  1. Global Customer Experience Management Market Forecast, By Touch Point, 2014 – 2018 and Forecast, 2019 – 2025 (Revenue, USD Mn)
    • Call Center
      • Market Analysis, 2014 – 2018 and Forecast, 2019 – 2025 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Email
      • Market Analysis, 2014 – 2018 and Forecast, 2019 – 2025 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Mobile App
      • Market Analysis, 2014 – 2018 and Forecast, 2019 – 2025 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Social Media
      • Market Analysis, 2014 – 2018 and Forecast, 2019 – 2025 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Store
      • Market Analysis, 2014 – 2018 and Forecast, 2019 – 2025 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Virtual Assistant
      • Market Analysis, 2014 – 2018 and Forecast, 2019 – 2025 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Website
      • Market Analysis, 2014 – 2018 and Forecast, 2019 – 2025 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Others
      • Market Analysis, 2014 – 2018 and Forecast, 2019 – 2025 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
  1. Global Customer Experience Management Market Forecast, By Deployment Type, 2014 – 2018 and Forecast, 2019 – 2025 (Revenue, USD Mn)
    • Cloud
      • Market Analysis, 2014 – 2018 and Forecast, 2019 – 2025 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • On-Premises
      • Market Analysis, 2014 – 2018 and Forecast, 2019 – 2025 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
  1. Global Customer Experience Management Market Forecast, By End User, 2014 – 2018 and Forecast, 2019 – 2025 (Revenue, USD Mn)
    • BFSI
      • Market Analysis, 2014 – 2018 and Forecast, 2019 – 2025 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Automotive
      • Market Analysis, 2014 – 2018 and Forecast, 2019 – 2025 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Healthcare
      • Market Analysis, 2014 – 2018 and Forecast, 2019 – 2025 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • IT and Telecom
      • Market Analysis, 2014 – 2018 and Forecast, 2019 – 2025 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Media and Entertainment
      • Market Analysis, 2014 – 2018 and Forecast, 2019 – 2025 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Public Sector
      • Market Analysis, 2014 – 2018 and Forecast, 2019 – 2025 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Retail
      • Market Analysis, 2014 – 2018 and Forecast, 2019 – 2025 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Travel and Hospitality
      • Market Analysis, 2014 – 2018 and Forecast, 2019 – 2025 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Others
      • Market Analysis, 2014 – 2018 and Forecast, 2019 – 2025 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Global Customer Experience Management Market – Opportunity Analysis Index, By Component, Touchpoint, Deployment Type, End User and Region, 2019 – 2025
  2. Global Customer Experience Management Market Forecast, By Region, 2014 – 2018 and Forecast, 2019 – 2025 (Revenue, USD Mn)
    • North America
      • Market Analysis, 2014 – 2018 and Forecast, 2019 – 2025 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Europe
      • Market Analysis, 2014 – 2018 and Forecast, 2019 – 2025 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Asia-Pacific
      • Market Analysis, 2014 – 2018 and Forecast, 2019 – 2025 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Latin America
      • Market Analysis, 2014 – 2018 and Forecast, 2019 – 2025 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Middle East and Africa
      • Market Analysis, 2014 – 2018 and Forecast, 2019 – 2025 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Global Customer Experience Management Market – Opportunity Analysis Index, By Component, Touchpoint, Deployment Type, End User and Region, 2019 – 2025
  3. North America Customer Experience Management Market Analysis, 2014 – 2018 and Forecast, 2019 – 2025 (Revenue, USD Mn)
    • Component Analysis 2014 – 2018 and Forecast 2019 – 2025 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
      • Solutions
        • Machine Learning
        • Workforce Optimization
        • Omni-Channel
        • Analytics
      • Services
        • Managed Services
        • Professional Services
          • Consulting Services
          • Training
          • Support & Maintenance Services
        • Touchpoint Analysis 2014 – 2018 and Forecast 2019 – 2025 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
          • Call Center
          • Email
          • Mobile App
          • Social Media
          • Store
          • Virtual Assistant
          • Website
          • Others
        • Deployment Type Analysis 2014 – 2018 and Forecast 2019 – 2025 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
          • Cloud
          • On-Premises
        • End User Analysis 2014 – 2018 and Forecast 2019 – 2025 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
          • BFSI
          • Automotive
          • Healthcare
          • IT and Telecom
          • Media and Entertainment
          • Public Sector
          • Retail
          • Travel and Hospitality
          • Others
        • Country Analysis 2014 – 2018 and Forecast 2019 – 2025 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
          • US.
          • Canada
        • North America Customer Experience Management Market – Opportunity Analysis Index, By Component, Touchpoint, Deployment Type, End User and Country, 2019 – 2025
        • North America Customer Experience Management Market Dynamics – Trends
  1. Europe Customer Experience Management Market Analysis, 2014 – 2018 and Forecast, 2019 – 2025 (Revenue, USD Mn)
    • Component Analysis 2014 – 2018 and Forecast 2019 – 2025 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
      • Solutions
        • Machine Learning
        • Workforce Optimization
        • Omni-Channel
        • Analytics
      • Services
        • Managed Services
        • Professional Services
          • Consulting Services
          • Training
          • Support & Maintenance Services
        • Touchpoint Analysis 2014 – 2018 and Forecast 2019 – 2025 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
          • Call Center
          • Email
          • Mobile App
          • Social Media
          • Store
          • Virtual Assistant
          • Website
          • Others
        • Deployment Type Analysis 2014 – 2018 and Forecast 2019 – 2025 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
          • Cloud
          • On-Premises
        • End User Analysis 2014 – 2018 and Forecast 2019 – 2025 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
          • BFSI
          • Automotive
          • Healthcare
          • IT and Telecom
          • Media and Entertainment
          • Public Sector
          • Retail
          • Travel and Hospitality
          • Others
        • Country Analysis 2014 – 2018 and Forecast 2019 – 2025 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
          • Germany
          • UK
          • France
          • Spain
          • Italy
          • Russia
          • Poland
          • Rest of Europe
        • Europe Customer Experience Management Market – Opportunity Analysis Index, By Component, Touchpoint, Deployment Type, End User and Country, 2019 – 2025
        • Europe Customer Experience Management Market Dynamics – Trends
  1. Asia-Pacific Customer Experience Management Market Analysis, 2014 – 2018 and Forecast, 2019 – 2025 (Revenue, USD Mn)
    • Component Analysis 2014 – 2018 and Forecast 2019 – 2025 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
      • Solutions
        • Machine Learning
        • Workforce Optimization
        • Omni-Channel
        • Analytics
      • Services
        • Managed Services
        • Professional Services
          • Consulting Services
          • Training
          • Support & Maintenance Services
        • Touchpoint Analysis 2014 – 2018 and Forecast 2019 – 2025 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
          • Call Center
          • Email
          • Mobile App
          • Social Media
          • Store
          • Virtual Assistant
          • Website
          • Others
        • Deployment Type Analysis 2014 – 2018 and Forecast 2019 – 2025 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
          • Cloud
          • On-Premises
        • End User Analysis 2014 – 2018 and Forecast 2019 – 2025 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
          • BFSI
          • Automotive
          • Healthcare
          • IT and Telecom
          • Media and Entertainment
          • Public Sector
          • Retail
          • Travel and Hospitality
          • Others
        • Country Analysis 2014 – 2018 and Forecast 2019 – 2025 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
          • Japan
          • China
          • India
          • ASEAN
          • Australia & New Zealand
          • Rest of Asia-Pacific
        • Asia-Pacific Customer Experience Management Market – Opportunity Analysis Index, By Component, Touchpoint, Deployment Type, End User and Country, 2019 – 2025
        • Asia-Pacific Customer Experience Management Market Dynamics – Trends
  1. Latin America Customer Experience Management Market Analysis, 2014 – 2018 and Forecast, 2019 – 2025 (Revenue, USD Mn)
    • Component Analysis 2014 – 2018 and Forecast 2019 – 2025 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
      • Solutions
        • Machine Learning
        • Workforce Optimization
        • Omni-Channel
        • Analytics
      • Services
        • Managed Services
        • Professional Services
          • Consulting Services
          • Training
          • Support & Maintenance Services
        • Touchpoint Analysis 2014 – 2018 and Forecast 2019 – 2025 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
          • Call Center
          • Email
          • Mobile App
          • Social Media
          • Store
          • Virtual Assistant
          • Website
          • Others
        • Deployment Type Analysis 2014 – 2018 and Forecast 2019 – 2025 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
          • Cloud
          • On-Premises
        • End User Analysis 2014 – 2018 and Forecast 2019 – 2025 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
          • BFSI
          • Automotive
          • Healthcare
          • IT and Telecom
          • Media and Entertainment
          • Public Sector
          • Retail
          • Travel and Hospitality
          • Others
        • Country Analysis 2014 – 2018 and Forecast 2019 – 2025 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
          • Brazil
          • Mexico
          • Argentina
          • Rest of Latin America
        • Latin America Customer Experience Management Market – Opportunity Analysis Index, By Component, Touchpoint, Deployment Type, End User and Country, 2019 – 2025
        • Latin America Customer Experience Management Market Dynamics – Trends
  1. Middle East and Africa Customer Experience Management Market Analysis, 2014 – 2018 and Forecast, 2019 – 2025 (Revenue, USD Mn)
    • Component Analysis 2014 – 2018 and Forecast 2019 – 2025 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
      • Solutions
        • Machine Learning
        • Workforce Optimization
        • Omni-Channel
        • Analytics
      • Services
        • Managed Services
        • Professional Services
          • Consulting Services
          • Training
          • Support & Maintenance Services
        • Touchpoint Analysis 2014 – 2018 and Forecast 2019 – 2025 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
          • Call Center
          • Email
          • Mobile App
          • Social Media
          • Store
          • Virtual Assistant
          • Website
          • Others
        • Deployment Type Analysis 2014 – 2018 and Forecast 2019 – 2025 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
          • Cloud
          • On-Premises
        • End User Analysis 2014 – 2018 and Forecast 2019 – 2025 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
          • BFSI
          • Automotive
          • Healthcare
          • IT and Telecom
          • Media and Entertainment
          • Public Sector
          • Retail
          • Travel and Hospitality
          • Others
        • Country Analysis 2014 – 2018 and Forecast 2019 – 2025 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
          • Gulf Cooperation Council (GCC) Countries
          • Israel
          • South Africa
          • Rest of MEA
        • MEA Customer Experience Management Market – Opportunity Analysis Index, By Component, Touchpoint, Deployment Type, End User and Country, 2019 – 2025
        • MEA Customer Experience Management Market Dynamics – Trends
  1. Competition Landscape
    • Strategic Dashboard of Top Market Players
    • Company Profiles (Introduction, Financial Analysis, Touchpoint & Touchpoint Offerings, Key Developments, Strategies, and SWOT Analysis)
      • Adobe Systems (US)
      • Clarabridge (US)
      • IBM (US)
      • Nokia (Finland)
      • Oracle Corporation (US)
      • SAP (Germany)
      • SAS Institute (US)
      • SDL (UK)
      • Sitecore (US)
      • Tech Mahindra (India)
      • Verint Systems (US)
  1. Research Methodology
  2. Key Assumptions and Acronyms

Report

Company Profile

  • Adobe Systems (US)
  • Clarabridge (US)
  • IBM (US)
  • Nokia (Finland)
  • Oracle Corporation (US)
  • SAP (Germany)
  • SAS Institute (US)
  • SDL (UK)
  • Sitecore (US)
  • Tech Mahindra (India)
  • Verint Systems (US)

Description

The customer experience management market was valued at USD 8.6 billion in 2020 and is anticipated to grow at USD 15.2 billion by 2027, at a Compount Annual Growth Rate (CAGR) of 11.9% from 2021 to 2027. During the projected period, the global customer experience management market is expected to rise at a rapid pace. The increased demand to improve customer experience and satisfaction levels is driving the worldwide customer experience management market. Furthermore, increased deployment of sophisticated technologies such as AI, big data analytics, IoT, Cloud Computing, and Machine Learning, among others, to provide better, more dependable, and efficient customer services that can minimise customer churn rates is likely to boost the market through 2026. Furthermore, the key vendors operating in the market are likely to increase their investments, R&D, and new product launches in the coming years, creating attractive potential for market growth. However, a lack of understanding about the technologies’ availability could stifle industry expansion. Furthermore, high costs combined with consumer hesitancy in selecting the suitable technology may stymie market expansion during the forecast period. Component, deployment style, touch point, organisation size, end user industry, company, and location are all used to segment the worldwide customer experience management market. The market can be divided into two categories based on deployment mode: on-premises and cloud. Because of the flexibility, scalability, 24/7 availability, vast storage space, and other benefits associated with cloud, the cloud sector is likely to dominate the market. The market can be divided into social media, branches/stores, the online, call centres, company websites, email, mobile, and others based on touch points. Global customer experience management market is surging owing to frequent acquisitions and launchings by the market players. For Instance, In March 2019, Oracle partnered with TWINSET, an Italian Clothing Brand, for providing the company with Oracle Retail’s modern point-of-service (POS) technology. This technology would enhance customer experience at TWINSET stores by providing all transactional details to the in-store staff thus helping them suggest to customers necessary styling and information related to the latest merchandise and more. Some of the key factors fostering the market growth include need for better understanding customers, growing numbers of consumers, increase in the spending capacity of the companies, growing focus towards consumer oriented market and increasing e-commerce. However, high costs and lack of awareness regarding customer experience managements are hindering the market growth.

 

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