Customer Experience Management (CEM) is a business strategy that focuses on understanding and improving the overall experience of customers when interacting with a company or brand. It encompasses various aspects, including customer satisfaction, loyalty, and engagement.
According to a recent report published by Allied Market Research, the global customer experience management software market size was valued at $7,571 million in 2019, and is projected to reach $23,835 million by 2027, registering a CAGR of 15.6% from 2020 to 2027.
Global customer experience management market scenario is primarily driven by the factors such as growing popularity of on demand business model; increasing adoption of omnichannel shopping experience and the need for personalization within the consumer behavior has mandated the companies to adopt strategic initiatives that would boost the overall product sales, thereby creating a higher profit margins.
Growing scope of customer experience management within the healthcare and public sector, backed by rising product sales such as medical devices and favorable government programs has created huge potential for the overall market growth during the forecast period.
Covid-19 Scenario:
- The majority of the companies have been investing in digital channels for business expansion to gain high margins. This has boosted the adoption of customer experience management software.
- Since the Covid-19 outbreak, customers prefer online shopping through e-commerce platforms to avoid physical contact. The analysis of online consumer behavior helped the companies to meet consumer requirements.
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Increase in prominence of the on-demand business model and surge in adoption of omni-channel shopping behavior have boosted the growth of the global customer experience management software market. On the contrary, intricacies in integrating electronic data interchange and data synchronization coupled with bias in operational data leading to an incomplete insight generation hamper the market growth. However, advent of AI integrated customer experience management software and emergence of the cloud-based business model would open lucrative opportunities for the market players in the future.
By Component
- Software
- Services
By Platforms
- Website
- Voice Assistants
- Mobile App
- Others
By Industries
- Retail
- BFSI
- Healthcare
- Media and Entertainment
- Government Sector
- Others
By Region
- North America (U.S., Canada)
- Europe (UK, Germany, France, Spain, Italy, Rest of Europe)
- Asia-Pacific (China, India, Japan, South Korea, Australia, Rest of Asia-Pacific)
- LAMEA (Latin America, Middle East, Africa)
Key Market Players:
- AVAYA
- SALESFORCE
- ORACLE CORPORATION
- ADOBE INC
- NICE LIMITED
- SAS
- SAP SE
- VERINT SYSTEMS
- IBM CORPORATION
- ZENDESK INC
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domains.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies. This helps us dig out market data that helps us generate accurate research data tables and confirm utmost accuracy in our market forecasting. Every data company in the domain is concerned. Our secondary data procurement methodology includes deep presented in the reports published by us is extracted through primary interviews with top officials from leading online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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COVID-19 Impact Analysis on Customer Experience Management Market report published by Value Market Research provides a detailed market analysis comprising market size, share, value, growth and trends for the period 2019-2027.
The report encompasses data regarding market share and recent developments by key players.
Moreover, this market report also covers regional and country markets in detail.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the Customer Experience Management include Avaya Inc., Adobe Genesys, IBM, Oracle, Open Text Corporation, Verint, SAP SE..
This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Customer Experience Management Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/customer-experience-management-market/download-sampleMarket SegmentationThe broad Customer Experience Management has been sub-grouped into the Analytical Tools, TouchPoint Type, Deployment, End-User and Region.
The report studies these subsets with respect to the geographical segmentation.
