The market size for global customer success platforms (CSP) is projected to reach USD 3,369 million by 2028. Factors such as the growth in the data volume owing to the increased digitalization, the introduction of cloud computing solutions in customer success, as well as a surge in demand for innovative solutions to analyze customer scores and decrease churn rate, are anticipated to boost the adoption of customer success platforms services and solution globally.
Additionally, increasing acceptance of advanced technologies including Machine Learning (ML), Artificial Intelligence (AI), coupled with increasing investments within the customer success platform startups are likely to create lucrative prospects for the customer success platforms industry.
Customer success platforms offer a set of tools that enable to deliver required outcomes to the customers while they are using any kind of a vendor’s product or service. These platforms centralize all the customer data into an easily accessible 360-degree view of the customer. The data may consist of adoption, upsells, product usage, and other customer signals. Business enterprises have understood the prominence of customer success platforms as it enables them to improve consumer loyalty, strengthen their brand presence, decrease consumer churn, and consecutively improve business revenue.
Key Segments of the Global Customer Success Platforms Market
Component Overview, 2018-2028 (USD Million)
Application Overview, 2018-2028 (USD Million)
- Customer Experience Management
- Customer Service
- Risk and Compliance Management
- Sales and Marketing Management
End-User Overview, 2018-2028 (USD Million)
- Government & Public Safety
- Healthcare & Life Science
- IT & Telecom
- Retail &eCommerce
Regional Overview, 2018-2028 (USD Million)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- South America
- Rest of South America
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global Customer Success Platforms Market. Benchmark yourself against the rest of the market.
- Ensure you remain competitive as innovations by existing key players to boost the market.
What does the report include?
- The study on the global Customer Success Platforms Market includes qualitative factors such as drivers, restraints, and opportunities
- The study covers the competitive landscape of existing/prospective players in the customer success platforms industry and their strategic initiatives for the product development
- The study covers a qualitative and quantitative analysis of the market segmented based on component, application, and end-user. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
- This study is suitable for industry participants and stakeholders in the global Customer Success Platforms Market. The report will benefit:
- Every stakeholder is involved in the Customer Success Platforms Market.
- Managers within the Tech companies looking to publish recent and forecasted statistics about the global Customer Success Platforms Market.
- Government organizations, regulatory authorities, policymakers, and organizations looking for investments in trends of global Customer Success Platforms Market.
- Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies.
Progressions in big data analytics to facilitate enterprise in managing, designing, and enhancing their end-to-end CSPs are likely to fuel the market demand in the coming five to seven years. Moreover, growing capital investments towards the adoption of advanced marketing technologies to enable consumers to carry out cognitive decisions to develop improved customer success platforms, is anticipated to contribute to industry growth. The ability to automate and scale business with the feature to engage clients across the lifecycle is further promoting the need for customer success platforms solutions globally. The capability of classifying the up-sell and cross-sell opportunities along with prioritizing the areas of response shall propel the demand for such solutions across different industry verticals in the coming future.
The global Customer Success Platforms Market is segmented into solutions and services. The text analytics segment is anticipated to dominate its position within the customer success platform market over the forecast period. The CSP is an evolving technology that addresses critical business problems with unprecedented effectiveness by integrating data from various sources, such as CRM systems, websites, email, social media, and different third-party websites. Vendors in the industry deliver such solutions as a complete standalone platform or software depending on several needs, such as churn analysis, workflow management, customer onboarding, and sales & marketing management.
Based on the application segment, the market is bifurcated into customer experience management, risk & compliance management, sales & marketing management, customer service, and others. The customer service segment is likely to hold a significant share in 2019. Customer service plays an essential role in providing personalized customer engagement and better customer engagement. Organizations utilize analytics to optimize and enhance their customer service operations. Through advanced service analytics abilities, organizations can recognize reasons for customer service problems in real-time.
Based on the application, the market is segmented intoBFSI, retail, healthcare, IT & telecom, manufacturing, public sector, and others. The BFSI segment is projected to grow with the highest rate over the forecast period. The growing usage of mobile devices to conduct financial transactions has facilitated more personalized engagement, enabling seamless banking via mobile channels for customers. This has increased both the complexity and potential of building positive customer success platforms.
The global Customer Success Platforms Market is a wide range to North America, Europe, APAC, South America, and the Middle East & Africa. North America is considered a mature market in the customer success platforms applications, owing to an outsized presence of organization with the availability of technical expertise and advanced IT infrastructure. The US and Canada are the highest contributory countries to the expansion of the Customer Success Platforms Market in North America.
The major players of the global Customer Success Platforms Market areGainsight, Salesforce, Freshworks, Totango, Amity, Strikedeck, ChurnZero, ClientSuccess, Bolstra, Salesmachine, UserIQ, Planhat, AppsForOps, Catalyst, Armatic Technologies, CustomerSuccessBox, Client Share, and more. The Customer Success Platforms Market is fragmented with the existence of well-known global and domestic players across the globe.