The digital revolution and the need to understand customers are increasing which in turn is leading to the growth of the market for customer experience management. Furthermore, with the rising expectation from customers for quality and better service, organizations are providing these services at multiple points. Hence it is expected that the global customer experience management market is expected to have a market size of USD 21.3 billion by 2028, with a CAGR of 17.7% in the forecast period.
A rise in social media platforms and e-commerce is leading to a unique way of consumer experience through reviews and feedbacks through data management. With a mix of reviews, comments, and opinions, it can impact brand preferences. Therefore organizations are changing their business model to a customer-centred approach to retain the customers and provide good customer experience.
With the increase in the implementation of cloud-based deployment models, customer experience management has increased. With this, customer information is available in the organization’s ecosystem. With the information in the cloud, the organization understands the customer’s behavior pattern and expenditure behavior. To have an edge in customer loyalty and better consumer experience, organizations are implementing these approaches.
The Customer Experience Management market is subdivided into North America, Europe, APAC, Middle East & Africa, and South America. North America is said to be a saturated market and will have the highest market size. The US and Canada contribute the maximum to the growth of the Customer Experience Management market.
The major players of Customer Experience Management are Adobe, IBM, Oracle, Avaya, Nokia, and others. The Customer Experience Management market is fragmented with the existence of well-known global and domestic players across the globe.
Segment Overview of Customer Experience Management Market
Component Overview, 2018-2028 (USD Billion)
- Omni – Channel
- Machine Learning
- Workforce Optimization
Touch-point Segment Overview,2018-2028(USD Billion)
- Call Center
- Mobile app
- Social Media
- Virtual Assistant
Deployment Mode Overview, 2018-2028 (USD Billion)
- On Cloud
Organization Size Overview, 2018-2028 (USD Billion)
- Large Enterprises
Vertical Overview, 2018-2028 (USD Billion)
- Telecommunication and IT- Enabled Services
- Banking, Financial Services, and Insurance
- Media and Entertainment
- Retail and Consumer Goods
- Travel and Hospitality
- Public Sector
Regional Overview, 2018-2028 (USD Billion)
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia-Pacific
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of Middle East and Africa
- South America
o Rest of South America