The latest research study “Customer Experience Management Software Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global customer experience management software market size reached a value of US$ 9,768.0 Million in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 23,431.8 Million by 2027 exhibiting a CAGR of 14.10% during 2022-2027.
Customer experience management (CEM) software is a computer-based solution that allows organizations to monitor customer relationships. It also helps analyze the insights from feedback and other relevant data such as behavioral and purchase history and take measures to enhance the customer experience and business outcomes. It stores all the details of consumers with real-time updates, which are easy to share with different teams. It also provides various benefits, including increased brand equity, high customer retention, improved crisis management, better customer engagement, and reduced cost of service and marketing. As a result, CEM software is widely adopted across retail, healthcare, media, and entertainment (M&E), and banking, financial services, and insurance (BFSI) sectors worldwide.
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Customer Experience Management Software Market Trends and Drivers:
The market is primarily driven by rapid digitalization and various technological advancements in cloud and artificial intelligence (AI) solutions. In addition, the flourishing e-commerce sector, on account of the rising reliance on smartphones and convenience provided via online shopping websites such as free home delivery, and easy return policies, is contributing to the market growth.
Moreover, with the growing competitive market scenario, brands are adopting customer-centric approach strategies while extensively relying on customer feedback to maximize their profitability. This, coupled with the integration of multichannel touchpoints into a single platform and the surging need to analyze customer data to draw business insights and enhance revenue, represents another major growth-inducing factor.
Furthermore, manufacturers are focusing on mergers and acquisitions (M&A), product launches, and strategic developments, which in turn is creating a positive market outlook across the globe.
Global Customer Experience Management Software Market 2022-2027 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Adobe Inc., Avaya Inc., Clarabridge (Qualtrics International), International Business Machines Corporation, Medallia Inc., NICE Ltd., Oracle Corporation, Salesforce.com Inc., SAP SE, SAS Institute Inc., Tech Mahindra Limited, Verint Systems Inc. and Zendesk.
The report has segmented the market on the basis of region, component, touchpoint, deployment mode, organization size and industries.
Breakup by Component:
- Solutions
- Services
Breakup by Touchpoint:
- Stores/Branches
- Call Centers
- Social Media Platform
- Mobile
- Web Services
- Others
Breakup by Deployment Mode:
- On-premises
- Cloud-based
Breakup by Organization Size:
- Large Enterprises
- Small and Medium-sized Enterprises
Breakup by Industries:
- Retail
- BFSI
- IT and Telecommunication
- Healthcare
- Media and Entertainment
- Government Sector
- Others
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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