Faster and easier product adoption, higher up-selling opportunities, as well as reduced churn delivered by the customer success solutions, drives the demand for customer success platforms market
The factors such as the growing capital investments towards the adoption of advanced marketing technologies to enable consumers to carry out cognitive decisions to develop improved customer success platforms are anticipated to contribute to industry growth. 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. Hence, the global customer success platforms market size is projected to reach USD 3,369 million by 2028.
With the growing adoption of digitalization in almost every industry vertical, customer service is becoming more intricate since customers use various channels to connect with brands. Due to this reason, enterprises are now confronted not only to manage and support various customer channels but also to deliver consistency of experience throughout the channels. 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 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 solutions address 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 within the industry deliver such solutions as complete software or standalone platforms depending on several needs, such as churn analysis, workflow management, customer onboarding, and sales & marketing management.
The global customer success platforms market has strong competition among the well-established and new emerging players. These market players target to gain a competitive advantage over the other players by participating in partnerships, mergers, and acquisitions and expanding their businesses.
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 nations to the expansion of the customer success platforms industry in North America.
The major players of the global customer success platforms market are Gainsight, Salesforce, Freshworks, Totango, Amity, Strikedeck, ChurnZero, ClientSuccess, Bolstra, Salesmachine, UserIQ, Planhat, AppsForOps, Catalyst, Aromatic 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.
Segment Overview of 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