Customer Experience Management Market Forecast, Trend, Analysis and Competition Tracking – Global Market Insights 2022 to 2030

The global customer experience management market size was valued at USD 8.77 billion in 2021, and is predicted to be worth around USD 38.97 billion by 2030, registering a CAGR of 18.0% during the forecast period 2022 to 2030.

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Growth Factors

The growing importance of understanding customer behavior and their preferences is driving various organizations and brands to provide the best service performance for modern customers in real-time.

Moreover, the growing use of Artificial Intelligence (AI) and its applications by organizations to communicate with their consumers is expected to boost the growth of the Customer Experience Management (CEM) market in the forthcoming years. Several brands and organizations are increasingly depending on customer experience management tools to determine customers’ requirements, which are perceived to be significant to sustain in this competitive market.

The continuous demand from customers for a personalized experience across several industries, such as IT, telecom, retail, and BFSI, is a key driving factor for the market growth. Customer experience management allows smooth connectivity between companies and customers for achieving the organizational goal as well as customer expectations. It blends customer satisfaction, loyalty, retention, and customer-centricity.

The growing importance of understanding customer behavior and their preferences drives various brands and organizations to adopt customer experience strategies, such as regular communication and engagement, longstanding program, and use of automation, to deliver the best service performance to customers in real-time.

Report Coverage

Report Scope Details
Market Size US$ 38.97 billion by 2030
Growth Rate CAGR of 18.0% From 2022 to 2030
Largest Market Asia Pacific
Base Year 2021
Forecast Period 2022 to 2030
Segments Covered Product, Technology, End user, Distribution Channel
Regional Scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Companies Mentioned Accell Group; Atlas Cycles (Haryana) Ltd.; Avon Cycles Ltd.; Cervelo; Dorel Industries Inc.; Giant Bicycles; Merida Industry Co., Ltd; Specialized Bicycle Components, Inc.; SCOTT Sports SA; Trek Bicycle Corporation

By Analytical Tools Analysis

The text analytics segment dominated the customer experience management market in 2021 with a revenue share of over 40%. Growing demand for text-based data in comments, feedback, and reviews across numerous digital platforms and offline survey systems across several industries is one of the crucial factors contributing to the growth.

The web analytics and content management segment are expected to witness significant growth over the forecast period. The global web analytics market is expected to gain momentum from the steady rise in marketing automation and online shopping trends across all the digital channels.

Starbucks and Netflix are using artificial intelligence engines and machine learning to create hyper-personalized experiences for customers. With the continuous usage of web analytics, business across the globe can attract more customers. Various companies are also using these tools to attract new customers for goods and services.

By Touch Point Type Analysis

The call centers segment held the largest revenue share of over 32% in 2021. The key segment drivers include the rising adoption of advanced contact center technologies, the emerging role of social media in contact center operations, increasing adoption of virtual and cloud-based contact center solutions, and streamlined customer interactions to achieve high customer satisfaction.

There is elevated pressure on the contact center to provide high-quality services and to meet the constantly evolving consumer needs. To offer improved and notable customer experience management, the companies are increasingly using the capability of contact center analytics. This factor is contributing to the growth of the segment.

The web services segment is anticipated to expand at a significant CAGR over the forecast period. Web CEM organizations provide responsive and mission-critical customer experiences that support several enterprises information platforms.

By Deployment Analysis

The on-premise segment held the largest revenue share of over 61% in 2021. On-premise deployment provides hosting the customer experience management suite or applications on the organization’s server. It is opted by large organizations that prefer their business-critical information to be stored on their servers for enhanced data protection.

Large enterprises have dedicated servers and computing infrastructures that allow them to purchase only a software license or software copy to operate the platform. Moreover, on-premise solutions offer enterprises better management and secure control over their data which is boosting customer satisfaction and brand loyalty.

The cloud segment is expected to witness significant growth over the forecast period. The growth can be accredited to the easy implementation, less cost, easy upgrade, and accessibility. The cloud-based deployment model offers benefits such as faster uptime, fewer disruptions in services, and secure interaction with customers.

Cloud-based solutions are preferred over traditional systems as they are effective and compatible in addressing the rising level of customer expectations. Cloud technology provides the advantage of low-cost integration of a CEM system within the current business environment.

By End-use Analysis

IT and telecom held the largest revenue share of over 24% in 2021. Customer churn has been a major issue for telecom operators, as it is one of the significant factors propelling telecom operators to spend more on retaining their most profitable customers. For IT and telecom industries, customer retention is the growth driver.

Customer Experience Management (CEM) helps telecom network providers to transform from network/resource-centric businesses to customer-centric businesses. Other segments of the market include BFSI, retail, manufacturing, government, energy and utilities, construction, real estate and property management, service business, and others.

The healthcare segment is expected to witness significant growth over the forecast period. The health-related organizations, ranging from pharmaceutical companies to health insurers, are not perceived as the most consumer-centric organizations. There is a wide opportunity across the sector and allied sectors likewise for increasing the implementation of CEM for business process optimization.

By Regional Analysis

North America held the largest revenue share of over 40%in 2021. The rise in adoption of CEM solutions and services by various industries, such as telecom, retail, and banking to foster their customer relationships. Increasing investments in digital channels and marketing by the U.S. and Canadian enterprises are contributing to the growth.

Asia Pacific is anticipated to witness the fastest growth over the forecast period owing to the growing adoption of modern technologies. The continuous rise in the adoption of IoT-based sensors and devices and AI-driven advanced analytics tools to B2C and B2B consumers is one of the significant factors contributing to the growth.

Key Players

  • Adobe
  • Avaya Inc.
  • Clarabridge
  • Freshworks Inc.
  • Genesys
  • International Business Machines Corporation
  • Medallia Inc.
  • Open Text Corporation
  • Oracle
  • Qualtrics
  • SAP SE
  • SAS Institute Inc.
  • Service Management Group (SMG)
  • Tech Mahindra Limited
  • Verint
  • Zendesk
  • Miraway

Market Segmentation

  • By Analytical Tools
    • EFM Software
    • Speech Analytics
    • Text Analytics
    • Web Analytics & Content Management
    • Others
  • By Touch Point Type
    • Stores/Branches
    • Call Centers
    • Social Media Platform
    • Email
    • Mobile
    • Web Services
    • Others
  • By Deployment
    • Cloud
    • On-premise
  • By End-use
    • BFSI
    • Retail
    • Healthcare
    • IT & Telecom
    • Manufacturing
    • Government, Energy & Utilities
    • Construction, Real Estate & Property Management
    • Service Business
    • Others
  • Regional
    • North America
      • U.S.
      • Canada
    • Europe
      • Germany
      • France
      • U.K.
    • Asia Pacific
      • China
      • India
      • Japan
    • Latin America
      • Brazil
      • Mexico
    • MEA

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Reasons to Purchase this Report:

– Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
– Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
– Market value USD Million and volume Units Million data for each segment and sub-segment
– Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
– Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Table of Contents

Chapter 1.  Introduction

1.1.  Research Objective

1.2.  Scope of the Study

1.3.  Definition

Chapter 2.  Research Methodology

2.1.  Research Approach

2.2.  Data Sources

2.3.  Assumptions & Limitations

Chapter 3.  Executive Summary

3.1.  Market Snapshot

Chapter 4.  Market Variables and Scope

4.1.  Introduction

4.2.  Market Classification and Scope

4.3.  Industry Value Chain Analysis

4.3.1.    Raw Material Procurement Analysis

4.3.2.    Sales and Deployment Analysis

4.3.3.    Downstream Buyer Analysis

Chapter 5.  Market Dynamics Analysis and Trends

5.1.  Market Dynamics

5.1.1.    Market Drivers

5.1.2.    Market Restraints

5.1.3.    Market Opportunities

5.2.  Porter’s Five Forces Analysis

5.2.1.    Bargaining power of suppliers

5.2.2.    Bargaining power of buyers

5.2.3.    Threat of substitute

5.2.4.    Threat of new entrants

5.2.5.    Degree of competition

Chapter 6.  Competitive Landscape

6.1.1.    Company Market Share/Positioning Analysis

6.1.2.    Key Strategies Adopted by Players

6.1.3.    Vendor Landscape

6.1.3.1.        List of Suppliers

6.1.3.2.        List of Buyers

Chapter 7.  Global Customer Experience Management Market, By Analytical Tools

7.1.  Customer Experience Management Market, by Analytical Tools, 2021-2030

7.1.1.    EFM Software

7.1.1.1.        Market Revenue and Forecast (2019-2030)

7.1.2.    Speech Analytics

7.1.2.1.        Market Revenue and Forecast (2019-2030)

7.1.3.    Text Analytics

7.1.3.1.        Market Revenue and Forecast (2019-2030)

7.1.4.    Web Analytics & Content Management

7.1.4.1.        Market Revenue and Forecast (2019-2030)

Chapter 8.  Global Customer Experience Management Market, By Touch Point Type

8.1.  Customer Experience Management Market, by Touch Point Type, 2021-2030

8.1.1.    Stores/Branches

8.1.1.1.        Market Revenue and Forecast (2019-2030)

8.1.2.    Call Centers

8.1.2.1.        Market Revenue and Forecast (2019-2030)

8.1.3.    Social Media Platform

8.1.3.1.        Market Revenue and Forecast (2019-2030)

8.1.4.    Email

8.1.4.1.        Market Revenue and Forecast (2019-2030)

8.1.5.    Mobile

8.1.5.1.        Market Revenue and Forecast (2019-2030)

8.1.6.    Web Services

8.1.6.1.        Market Revenue and Forecast (2019-2030)

Chapter 9.  Global Customer Experience Management Market, By Deployment

9.1.  Customer Experience Management Market, by Deployment, 2021-2030

9.1.1.    Cloud

9.1.1.1.        Market Revenue and Forecast (2019-2030)

9.1.2.    On-premise

9.1.2.1.        Market Revenue and Forecast (2019-2030)

Chapter 10.      Global Customer Experience Management Market, By End-use

10.1.        Customer Experience Management Market, by End-use, 2021-2030

10.1.1.  BFSI

10.1.1.1.      Market Revenue and Forecast (2019-2030)

10.1.2.  Retail

10.1.2.1.      Market Revenue and Forecast (2019-2030)

10.1.3.  Healthcare

10.1.3.1.      Market Revenue and Forecast (2019-2030)

10.1.4.  IT & Telecom

10.1.4.1.      Market Revenue and Forecast (2019-2030)

10.1.5.  Manufacturing

10.1.5.1.      Market Revenue and Forecast (2019-2030)

10.1.6.  Government, Energy & Utilities

10.1.6.1.      Market Revenue and Forecast (2019-2030)

10.1.7.  Construction, Real Estate & Property Management

10.1.7.1.      Market Revenue and Forecast (2019-2030)

10.1.8.  Service Business

10.1.8.1.      Market Revenue and Forecast (2019-2030)

Chapter 11.      Global Customer Experience Management Market, Regional Estimates and Trend Forecast

11.1.        North America

11.1.1.  Market Revenue and Forecast, by Analytical Tools (2019-2030)

11.1.2.  Market Revenue and Forecast, by Touch Point Type (2019-2030)

11.1.3.  Market Revenue and Forecast, by Deployment (2019-2030)

11.1.4.  Market Revenue and Forecast, by End-use (2019-2030)

11.1.5.  U.S.

11.1.5.1.      Market Revenue and Forecast, by Analytical Tools (2019-2030)

11.1.5.2.      Market Revenue and Forecast, by Touch Point Type (2019-2030)

11.1.5.3.      Market Revenue and Forecast, by Deployment (2019-2030)

11.1.5.4.      Market Revenue and Forecast, by End-use (2019-2030)

11.1.6.  Rest of North America

11.1.6.1.      Market Revenue and Forecast, by Analytical Tools (2019-2030)

11.1.6.2.      Market Revenue and Forecast, by Touch Point Type (2019-2030)

11.1.6.3.      Market Revenue and Forecast, by Deployment (2019-2030)

11.1.6.4.      Market Revenue and Forecast, by End-use (2019-2030)

11.2.        Europe

11.2.1.  Market Revenue and Forecast, by Analytical Tools (2019-2030)

11.2.2.  Market Revenue and Forecast, by Touch Point Type (2019-2030)

11.2.3.  Market Revenue and Forecast, by Deployment (2019-2030)

11.2.4.  Market Revenue and Forecast, by End-use (2019-2030)

11.2.5.  UK

11.2.5.1.      Market Revenue and Forecast, by Analytical Tools (2019-2030)

11.2.5.2.      Market Revenue and Forecast, by Touch Point Type (2019-2030)

11.2.5.3.      Market Revenue and Forecast, by Deployment (2019-2030)

11.2.5.4.      Market Revenue and Forecast, by End-use (2019-2030)

11.2.6.  Germany

11.2.6.1.      Market Revenue and Forecast, by Analytical Tools (2019-2030)

11.2.6.2.      Market Revenue and Forecast, by Touch Point Type (2019-2030)

11.2.6.3.      Market Revenue and Forecast, by Deployment (2019-2030)

11.2.6.4.      Market Revenue and Forecast, by End-use (2019-2030)

11.2.7.  France

11.2.7.1.      Market Revenue and Forecast, by Analytical Tools (2019-2030)

11.2.7.2.      Market Revenue and Forecast, by Touch Point Type (2019-2030)

11.2.7.3.      Market Revenue and Forecast, by Deployment (2019-2030)

11.2.7.4.      Market Revenue and Forecast, by End-use (2019-2030)

11.2.8.  Rest of Europe

11.2.8.1.      Market Revenue and Forecast, by Analytical Tools (2019-2030)

11.2.8.2.      Market Revenue and Forecast, by Touch Point Type (2019-2030)

11.2.8.3.      Market Revenue and Forecast, by Deployment (2019-2030)

11.2.8.4.      Market Revenue and Forecast, by End-use (2019-2030)

11.3.        APAC

11.3.1.  Market Revenue and Forecast, by Analytical Tools (2019-2030)

11.3.2.  Market Revenue and Forecast, by Touch Point Type (2019-2030)

11.3.3.  Market Revenue and Forecast, by Deployment (2019-2030)

11.3.4.  Market Revenue and Forecast, by End-use (2019-2030)

11.3.5.  India

11.3.5.1.      Market Revenue and Forecast, by Analytical Tools (2019-2030)

11.3.5.2.      Market Revenue and Forecast, by Touch Point Type (2019-2030)

11.3.5.3.      Market Revenue and Forecast, by Deployment (2019-2030)

11.3.5.4.      Market Revenue and Forecast, by End-use (2019-2030)

11.3.6.  China

11.3.6.1.      Market Revenue and Forecast, by Analytical Tools (2019-2030)

11.3.6.2.      Market Revenue and Forecast, by Touch Point Type (2019-2030)

11.3.6.3.      Market Revenue and Forecast, by Deployment (2019-2030)

11.3.6.4.      Market Revenue and Forecast, by End-use (2019-2030)

11.3.7.  Japan

11.3.7.1.      Market Revenue and Forecast, by Analytical Tools (2019-2030)

11.3.7.2.      Market Revenue and Forecast, by Touch Point Type (2019-2030)

11.3.7.3.      Market Revenue and Forecast, by Deployment (2019-2030)

11.3.7.4.      Market Revenue and Forecast, by End-use (2019-2030)

11.3.8.  Rest of APAC

11.3.8.1.      Market Revenue and Forecast, by Analytical Tools (2019-2030)

11.3.8.2.      Market Revenue and Forecast, by Touch Point Type (2019-2030)

11.3.8.3.      Market Revenue and Forecast, by Deployment (2019-2030)

11.3.8.4.      Market Revenue and Forecast, by End-use (2019-2030)

11.4.        MEA

11.4.1.  Market Revenue and Forecast, by Analytical Tools (2019-2030)

11.4.2.  Market Revenue and Forecast, by Touch Point Type (2019-2030)

11.4.3.  Market Revenue and Forecast, by Deployment (2019-2030)

11.4.4.  Market Revenue and Forecast, by End-use (2019-2030)

11.4.5.  GCC

11.4.5.1.      Market Revenue and Forecast, by Analytical Tools (2019-2030)

11.4.5.2.      Market Revenue and Forecast, by Touch Point Type (2019-2030)

11.4.5.3.      Market Revenue and Forecast, by Deployment (2019-2030)

11.4.5.4.      Market Revenue and Forecast, by End-use (2019-2030)

11.4.6.  North Africa

11.4.6.1.      Market Revenue and Forecast, by Analytical Tools (2019-2030)

11.4.6.2.      Market Revenue and Forecast, by Touch Point Type (2019-2030)

11.4.6.3.      Market Revenue and Forecast, by Deployment (2019-2030)

11.4.6.4.      Market Revenue and Forecast, by End-use (2019-2030)

11.4.7.  South Africa

11.4.7.1.      Market Revenue and Forecast, by Analytical Tools (2019-2030)

11.4.7.2.      Market Revenue and Forecast, by Touch Point Type (2019-2030)

11.4.7.3.      Market Revenue and Forecast, by Deployment (2019-2030)

11.4.7.4.      Market Revenue and Forecast, by End-use (2019-2030)

11.4.8.  Rest of MEA

11.4.8.1.      Market Revenue and Forecast, by Analytical Tools (2019-2030)

11.4.8.2.      Market Revenue and Forecast, by Touch Point Type (2019-2030)

11.4.8.3.      Market Revenue and Forecast, by Deployment (2019-2030)

11.4.8.4.      Market Revenue and Forecast, by End-use (2019-2030)

11.5.        Latin America

11.5.1.  Market Revenue and Forecast, by Analytical Tools (2019-2030)

11.5.2.  Market Revenue and Forecast, by Touch Point Type (2019-2030)

11.5.3.  Market Revenue and Forecast, by Deployment (2019-2030)

11.5.4.  Market Revenue and Forecast, by End-use (2019-2030)

11.5.5.  Brazil

11.5.5.1.      Market Revenue and Forecast, by Analytical Tools (2019-2030)

11.5.5.2.      Market Revenue and Forecast, by Touch Point Type (2019-2030)

11.5.5.3.      Market Revenue and Forecast, by Deployment (2019-2030)

11.5.5.4.      Market Revenue and Forecast, by End-use (2019-2030)

11.5.6.  Rest of LATAM

11.5.6.1.      Market Revenue and Forecast, by Analytical Tools (2019-2030)

11.5.6.2.      Market Revenue and Forecast, by Touch Point Type (2019-2030)

11.5.6.3.      Market Revenue and Forecast, by Deployment (2019-2030)

11.5.6.4.      Market Revenue and Forecast, by End-use (2019-2030)

Chapter 12.  Company Profiles

12.1.              Adobe

12.1.1.  Company Overview

12.1.2.  Analytical Tools Offerings

12.1.3.  Financial Performance

12.1.4.  Recent Initiatives

12.2.              Avaya Inc.

12.2.1.  Company Overview

12.2.2.  Analytical Tools Offerings

12.2.3.  Financial Performance

12.2.4.  Recent Initiatives

12.3.              Clarabridge

12.3.1.  Company Overview

12.3.2.  Analytical Tools Offerings

12.3.3.  Financial Performance

12.3.4.  Recent Initiatives

12.4.              Freshworks Inc.

12.4.1.  Company Overview

12.4.2.  Analytical Tools Offerings

12.4.3.  Financial Performance

12.4.4.  Recent Initiatives

12.5.              Genesys

12.5.1.  Company Overview

12.5.2.  Analytical Tools Offerings

12.5.3.  Financial Performance

12.5.4.  Recent Initiatives

12.6.              Medallia Inc.

12.6.1.  Company Overview

12.6.2.  Analytical Tools Offerings

12.6.3.  Financial Performance

12.6.4.  Recent Initiatives

12.7.              International Business Machines Corporation

12.7.1.  Company Overview

12.7.2.  Analytical Tools Offerings

12.7.3.  Financial Performance

12.7.4.  Recent Initiatives

12.8.              Open Text Corporation

12.8.1.  Company Overview

12.8.2.  Analytical Tools Offerings

12.8.3.  Financial Performance

12.8.4.  Recent Initiatives

12.9.              Oracle

12.9.1.  Company Overview

12.9.2.  Analytical Tools Offerings

12.9.3.  Financial Performance

12.9.4.  Recent Initiatives

12.10.           Qualtrics

12.10.1.               Company Overview

12.10.2.               Analytical Tools Offerings

12.10.3.               Financial Performance

12.10.4.               Recent Initiatives

Chapter 13.  Research Methodology

13.1.              Primary Research

13.2.              Secondary Research

13.3.              Assumptions

Chapter 14.  Appendix

14.1.              About Us

Glossary of Terms

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