Customer Experience Management market Size, Growth, COVID19 Impact Analysis on Industry Share, Global Demand and Forecast to 2027

The customers are regarded as a crucial factor in business success in today’s markets, and this is estimated to fuel the customer experience management market 2020. The software reports are produced by Market Research Future, which features market options for expansion. A USD, 18 billion revenue base, is expected to be created by the end of 2023 with the backing of a 22% CAGR.

The rising need to maintain strong consumer loyalty in today’s scenario where more than a single brand is available for a particular purpose is estimated to boost the customer experience management market share substantially. The spending power of consumers globally is on the rise, and this is projected to influence customer experience management market trends significantly in the coming period.

Competitive Analysis 

The government role is estimated to be pronounced in the near term as their backing is essential to get the growth of regional markets on track.  The market is also expected to emphasize on innovation to amplify the development scope in the global market. The need to integrate is projected to become even more prominent in the market in the upcoming period. The market is in a stage that requires careful and strategic planning to ensure that the growth achieved thus far is not compromised. The market is expected to revitalize its options for development as it overcomes this period of uncertainty in a careful and calibrated manner, the enhancement of the supply chains is estimated to focus on the incorporation of robotic assets so as to broaden the scope of supply that can be expected from the market on the whole. The competition in the market is estimated to be focused on mitigating the effect of external forces rather than exclusively dealing with internal competition. 

The principal companies in the customer experience management market are IBM Corporation (U.S.), Tech Mahindra Limited (India), SDL (U.K.), Oracle Corporation (U.S.), SAS Institute Inc. (U.S.), Adobe Systems Incorporated (U.S.), Open Text Corporation (Canada), Nokia Networks (Finland), Avaya Inc. (U.S.), among others.

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Segmental Analysis 

The segmental scrutiny of the customer experience management market is conducted on the basis of the touchpoint, end-user, and regions. On the basis of the end-users, the customer experience management market comprises of healthcare, manufacturing, BFSI, retail, government, automotive, media & entertainment, IT & telecommunications, energy, among others. Based on the touchpoint, the customer experience management market comprises of call centers, social media, company stores, websites, email, mobile, and others.Based on the regions, the customer experience management market comprises of North America, Europe, APAC, and the rest of the regional markets in the region.

Detailed Regional Analysis 

The regional assessment of the customer experience management market is conducted for North America, Europe, APAC, and the rest of the regional markets in the region. The North American region accounted for the major market share, due to the augmented adoption of new technological solutions. The regional growth of the customer experience managementmarket is bolstered by the  collective customer expectations in the regions. Though, the Asia-Pacific region is anticipated to develop vigourously throughout the forecast period from 2017 to 2023. The development in the region is acknowledged due to the collective competition among the foremost players, collective consumer requirements, and the accessibility of new technological solutions. 

 

Industry Updates:

June 2020 Burger King has recently announced that it has selected Qualtrics CoreXM solution to monitor its customer experience. CoreXM is the base of experience management and a comprehensive and reliable insight solution present currently in the market. The organization plans to leverage CoreXM to tap into the correct listening channels, collect critical insights, and assist real-time action.

June 2020 AT&T and Salesforce proclaimed a multi-year strategic arrangement to distribute completely new linked experiences for AT&T’s millions of customers. AT&T will position Salesforce Customer 360 to make a solo view of each customer through every touchpoint.

 

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TABLE OF CONTENTS

1 MARKET INTRODUCTION

1.1 INTRODUCTION

1.2 SCOPE OF STUDY

1.2.1 RESEARCH OBJECTIVE

1.2.2 ASSUMPTIONS

1.2.3 LIMITATIONS

1.3 MARKET STRUCTURE

2 RESEARCH METHODOLOGY

2.1 RESEARCH NETWORK TYPE

2.2 PRIMARY RESEARCH

2.3 SECONDARY RESEARCH

2.4 FORECAST MODEL

2.4.1 MARKET DATA COLLECTION, ANALYSIS & FORECAST

2.4.2 MARKET SIZE ESTIMATION

3 MARKET DYNAMICS

….

7 COMPETITIVE ANALYSIS

7.1 MARKET SHARE ANALYSIS

7.2 COMPANY PROFILES

7.2.1 IBM CORPORATION (U.S.)

7.2.2 SAS INSTITUTE INC. (U.S.)

7.2.3 ADOBE SYSTEMS INCORPORATED (U.S.)

7.2.4 TECH MAHINDRA LIMITED (INDIA)

7.2.5 ORACLE CORPORATION (U.S.)

7.2.6 OPEN TEXT CORPORATION (CANADA)

7.2.7 NOKIA NETWORKS (FINLAND)

7.2.8 AVAYA INC. (U.S.)

7.2.9 SDL (U.K.)

7.2.10 OTHERS

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