According to a report,“North America Customer Experience Management Market Size, Share & Trends Analysis Report By Analytical Tool, By Touch Point Type, By End User, By Deployment And Segment Forecasts, 2019 – 2025″, published by Grand View Research, Inc.,
The global customer experience management market size is expected to reach USD 32.49 billion by 2025, according to a new report by Grand View Research, Inc., progressing at a CAGR of 22.9% during the forecast period. Growing focus of business organizations on retaining their customers by providing consistent and enhanced customer experience across multiple channels is one of the key trends stimulating market growth.
Cloud-based implementation of customer experience management is expected to gain traction over the forecast period. This growth can be attributed to rising number of organizations using cloud deployment models at their contact center to effectively engage customers across different channels such as mobile, email, call center, social media, and chat.
The retail sector is one of the largest end-users segment of customer experience management software. Retailers are actively focusing on delivering enhanced customer experience while buying and interacting with the brand or the company. In current era, customers are relying on different technology to get information and to make their purchase decision. Retail companies are using structured analytics CEM technology to maintain detailed information about their customer’s profile. By collecting this customer information from different touch points such as web, mobile, social and media, retail companies can get the idea about their customer preferences by analyzing their personalized insights. Using this crucial information, the retailers can deliver personalized and superior customer experience in turn gain loyal customer relationship.
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Further key findings from the report suggest:
On the basis of touch point, the call center segment was the largest segment in 2016 and is anticipated to generate revenue of over USD 1.70 billion by 2025.
Based on analytical tools, speech analytics is estimated to be at the forefront of the market throughout the forecast horizon
The customer experience management market in the BFSI sector is anticipated to cross the USD 7.33 billion mark by 2025
Asia Pacific is projected to witness substantial growth over the forecast period. The growth can be attributed to growing adoption of CEM techniques among various end-user industries. The regional market is expected to rise at a CAGR of 24.7% from 2017 to 2025
Key players include IBM Corporation; Oracle Corporation; Adobe Systems Incorporated; Nokia Networks; and Avaya, Inc. dominated the market in 2016.
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Grand View Research has segmented the global customer experience management market on the basis of analytical tool, touch point type, deployment, end-user, and region:
Customer Experience Management (CEM) Analytical Tool Outlook (Revenue, USD Million, 2014 – 2025)
Enterprise Feedback Management (EFM) software
Speech analytics
Text analytics
Web analytics
Other analytics
Customer Experience Management (CEM) Touch Point Type Outlook (Revenue, USD Million, 2014 – 2025)
Stores/ branch
Call Centers
Social Media
Email
Mobile
Web services
Others
Customer Experience Management (CEM) Deployment Outlook (Revenue, USD Million, 2014 – 2025)
Cloud
On Premise
Customer Experience Management (CEM) End-User Outlook (Revenue, USD Million, 2014 – 2025)
BFSI
Retail
Healthcare
IT & Telecom
Manufacturing
Government, Energy & utilities
Customer Experience Management (CEM) Regional Outlook (Revenue, USD Million, 2014 – 2025)
North America
U.S.
Canada
Europe
Germany
France
U.K.
Rest of Europe
Asia Pacific
China
India
Japan
Rest of APAC
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 126 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 4126 analysts and consultants, the company adds 121200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 600 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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