Market Highlights: —
Customer experience management comprises various services and solutions adopted to track the interaction between consumers and organizations throughout a consumer lifecycle, in order to increase customer satisfaction, loyalty and advocacy. This allows organizations to meet the mounting customer expectations with ease, or maybe even exceed them, magnifying positive customer experience.
Customer satisfaction is considered as one of the most necessary factors that contribute to successful business operations. With rising focus upon the same has leaves little scope for organizations to maintain customer loyalty, demanding them to constantly raise the benchmark. A customer experience management solution helps organizations from a majority of sectors to attain inordinate customer experience management through adoption and intricate execution of extensive strategies.
The Customer Experience Management Market report published by Market Research Future (MRFR) discloses various trends in, and understandings of the operation of the customer experience management market.
This report further grants a deep insight into the external and internal factors affecting the market and industry. With a swift 22% CAGR during the 2017-2023, the CEM market is also expected witness a revenue of USD 18 billion in the forecast period.
Though the global customer experience management market is estimated to showcase material growth at a fast pace, many factors such as choosing the right technology and consistency across various verticals are hindering the growth of the CEM market.
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Major Key Players:
Noteworthy players in the customer experience management market include IBM Corporation (U.S.), SAS Institute Inc. (U.S.), Adobe Systems Incorporated (U.S.), Tech Mahindra Limited (India), Oracle Corporation (U.S.), Open Text Corporation (Canada), Nokia Networks (Finland), Avaya Inc. (U.S.), SDL (U.K.), among others.
The CEM market emerges to be extremely competitive due to the presence of numerous small- and large-scale key players in the market rendering up for a significant market share. More than half of the market share is captured by strong players such as IBM Corporation, Adobe Systems Incorporated, Oracle Corporation and Avaya Inc. demanding other players in the market to step up their game.
A significant rise in the approach of personalizing the interaction through highly automated solutions is noted in the CEM market. This includes adoption of the same using SMS, email, voice as well as video; allowing businesses using these CEM solutions to extend their reach through various channels, and conducting a more accurate and real time research, regardless of how their customers want to interact.
The MRFR report on customer experience management market conducts specific research based on touch-point, end users and region. The touch-point section is further segmented into call centers, website, email, social media, company stores, and mobile. Further, end users’ section has been segmented into BFSI, retail, healthcare, manufacturing, government, IT and telecommunications, automotive, media and entertainment, and energy.
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Detailed Regional Analysis:
The report published by Market Research Future (MRFR) has segmented the market into four major regions, namely, North America, Asia Pacific (APAC), Europe, and Rest of the World (RoW). The North American region holds the largest market share during the forecast period of 2017-2023. The factors contributing to such influence on the market include an exponential rise in the use of new technological solutions, regional growth of the customer experience management and increasing customer expectations from the organizations.
The region of Asia Pacific (APAC) is going to witness the highest growth rate during the forecast period. Reasons attributing to such growth in the customer experience management market include increasing competition among major players, increasing consumer needs and new technological advancements. Furthermore, other factors driving the growth of the global CEM market include a rise in the need to meet customer satisfaction, increase in e-commerce activities, and a growing focus towards a consumer-oriented market.
• Research firms
• Consultancy firms
• Software Developers
• Semiconductor Manufacturers
• End-user sectors
• Technology Investors
Table of Contents
1 Market Introduction
1.2 Scope of Study
1.2.1 Research objective
1.3 Market Structure
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List of Tables
Table 1 Customer Experience Management Market, By Touch Point
Table 2 Customer Experience Management Market, By End-Users
Table 3 Customer Experience Management Market, By Geography
List of Figures
Figure 1research Methodology
Figure 2customer Experience Management Market, By Touch Point (%)
Figure 3customer Experience Management Market, By End-Users (%)
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