The Customer Experience Management Market size is projected to reach USD XX Million by 2026, from USD XX Million in 2020 growing at a CAGR of 11.9% during 2021-2026.The research covers the current and historic Customer Experience Management Market size and its growth trend with company outline of Key players/manufacturers OpenText, Clarabridge, NICE Systems, IBM, Adobe Systems, Verint Systems, Tech Mahindra, Avaya Inc., Genesys, Oracle Corporation, and SAP SE among others.
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This global Customer Experience Management market report identifies and analyses the emerging trends along with major drivers, challenges and opportunities in the industry with analysis on vendors, geographical regions, types, and applications. This Customer Experience Management market study estimates the market status, growth rate, future trends, market drivers, opportunities and challenges, risks and entry barriers, sales channels, and distributors. This report proves to be an indispensable document for every market enthusiast, policymaker, investor, and player. This global Customer Experience Management market research report is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis.
With the effectual use of technology, innovative applications and expertise, this Customer Experience Management market research report has been generated which successfully manages bulky and complex market data tables. To give clear idea about the current and future marketplace, most up to date market insights and analysis has been offered via this report. Several critical market factors covered in this Customer Experience Management Market report consist of primary research, benchmarking studies, secondary research, company profiles, competitive intelligence & reporting, syndicated research, data collection, data processing and analysis, survey design, and survey programming. Market research report execution is becoming very central for the businesses to gain success because it offers insights into revenue growth and sustainability initiative.
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Driver: CEM solutions help in keeping customer engagement through omnichannel
Customers in today’s technology-driven world expect to interact with companies through channels of their choice, such as voice, email, web, mobile, Short Message Service (SMS), and social media, at their convenience. To remain competitive, companies are facilitating customer interactions across these various channels. But what still hampers delivering seamless CX is that these multiple channels exist in silos and, thus, restrict an organization to deliver an omnichannel experience to customers. Omnichannel CEM solution helps in tracking the entire customer journey across channels, and this creates a consistent and optimized experience. Customers get the freedom to switch between different channels without any hassles, such as loss of information or the need to repeat existing information.
Restraint: Data synchronization complexities
Businesses collect an enormous amount of data through a variety of channels to gain a better understanding of customer preferences, needs, purchasing patterns, and so on. Enterprises need to improve the speed of integration with consistent growth and complexity of touchpoints in the customer feedback process. The data is collected from different touchpoints, which differ from one another, and businesses have to categorize the data based on customer needs and expectations. One touchpoint data is not similar to the other; so, businesses cannot combine them, since they have to structure them in different ways. A large amount of structured and unstructured databases requires significant resources, such as money, time, and employees to analyze it. This creates issues that block the optimum Return on Investment (ROI) from customer journey analytics.
In November 2020, SAP acquired Emarsys, a leading omnichannel customer engagement platform provider. With the acquisition, the company will be able to expand its SAP CX portfolio.
In October 2020, Adobe, Microsoft and C3.ai launched C3 AI CRM, a customer relationship management solution with AI capabilities. The solution can be integrated with Adobe Experience Cloud to enhance customer experience.
In July 2020, Abode, Red Hat and IBM entered into a strategic partnership to enable companies to deliver personalized experience to their customers.
In March 2020, Avaya and RingCentral collaborated to announce availability of their new joint offering, Avaya Cloud Office by RingCentral.
In November 2019, Oracle announced the availability of the Oracle CDM platform for B2C services.
Major Classifications are as follows:
Customer Experience Management Market: By Analytical Tool
Enterprise feedback management (EFM) software
Web analytics & content management
Customer Experience Management Market: By Touchpoint
Social Media Platform
Customer Experience Management Market: By End-User
IT & Telecom
Government, Energy & utilities
Customer Experience Management Market: By Geography
Rest of Europe
Rest of Asia Pacific
Rest of South America
Rest of the World
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Customer Experience Management Market : Report Chapters
Chapter 01 – Executive Summary
Chapter 02 – Market Overview
Chapter 03 – Key Market Trends
Chapter 04 – Key Success Factors
Chapter 05 – Global Customer Experience Management Market – Pricing Analysis
Chapter 06 – Global Customer Experience Management Market Demand (in Value or Size in US$ Mn) Analysis and Forecast, 2021–2026
Chapter 07 – Market Background
Chapter 08 – Global Customer Experience Management Market Analysis () & Opportunity Assessment , By Product Type
Chapter 09 – Global Customer Experience Management Market Analysis & Opportunity Assessment , by Distribution Channel
Chapter 10 – Global Customer Experience Management Market Analysis & Opportunity Assessment , by Region
Chapter 11 – North America Customer Experience Management market Analysis & Opportunity Assessment
Chapter 12 – Latin America Customer Experience Management Market Analysis & Opportunity Assessment
Chapter 13 –Europe Customer Experience Management market Analysis & Opportunity Assessment
Chapter 14 – East Asia Customer Experience Management market Analysis and Forecast
Chapter 15 – South Asia Customer Experience Management market Analysis and Forecast
Chapter 16 – Oceania Customer Experience Management market Analysis and Forecast
Chapter 17 – MEA Customer Experience Management market Analysis & Opportunity Assessment
Chapter 18 – Market Structure Analysis
Chapter 19 – Competition Analysis
Chapter 20 – Assumptions and Acronyms Used
Chapter 21 – Research Methodology
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