New York, NY -- (SBWIRE) -- 03/05/2021 -- According to the current analysis of Reports and Data, the customer experience management market was valued at USD 6,172.8 Million in 2018 and is expected to reach USD 38,508.0 Million by the year 2026, at a CAGR of 27.4%. Customer experience management market research study offers an all-inclusive analysis of the revenue generated by the customer experience management vendors locally and globally. It includes the analysis of key strategies, business models, geographic presence, market dynamics, industry outlook, competitive landscape, and customer experience management market revenue for all segments.
Get a Sample Copy of this Report with TOC, Tables, Statistics, Charts & Company profiles @ https://www.reportsanddata.com/sample-enquiry-form/2155
Leading Players Profiled in the Report Include:
Adobe System Incorporated, Avaya, Inc., CA Technologies, Chime Technologies Inc., Clarabridge, FreshworksInc, Genesys, IBM Corporation, Medallia, Nokia Networks, Opentext, Oracle Corporation, Qualtrics, SAP SE, SAS Institute Inc., Tech Mahindra, Verint System Inc, and Zendesk Inc
The study provides an overall insight into the factors responsible for the growth in the customer experience management market. The factors driving the customer experience management market are increasing demand for customer experience management solutions to reduce churn rate, demand for planning personalized customer engagement strategy and customer journeys, adoption of advanced analytic techniques for increasing customer experience, and technological advancements in the customer experience management. Owing to rising urbanization and digitalization across the world, end-user sectors like retail and ecommerce, BFSI, travel and hospitality, Government, and media and entertainment industries have experienced growth, which is expected to supplement the growth of customer experience management market. An increasing number of key players are partnering up with the major core companies in the above sectors to provide superior and more efficient customer engagement to help them grow their business as well as redefine experiences for the customers.
Further key findings from the report suggest
Governments are investing in the digitalization of several industries to help modernize the state-run services, which are availed by people for the digital transactions, online banking, and other services. These services critically contribute the revenue generated by countries. It is expected this factor would help the customer experience management market grow.
The cloud deployment model is expected to dominate the customer experience management market owing to its low-cost implementation and flexible subscription models suitable for the end-users.
The market is growing at a CAGR of 61% in Asia Pacific due to the rapid industrialization, urbanization, and digitalization of the developing countries and the increased use of digital transactions in developing countries such as India, China, and Singapore.
Global modernization and emergence of technologies like the AI and ML, IoT, has increased the number of digital data collected using numerous touch points including smart electronic devices like smartphones, tablets, and laptops, which is expected to increase the use of customer experience management and expand its market size.
The contact centre touch point is estimated to dominate the market in 2018. Contact centre provides 24x7 support services to its customers and collect data to predict the buying patterns, customer behaviour, and churn rates
The retail ecommerce is estimated to be the fastest growing segment due to the increasing use of customer experience management solutions for growing the customer base by acquiring new customers and retention of the previous customers.
The vendors in the market have adopted various strategies to increase the product ecosystem and gain a competitive edge over its competitors. For instance, Oracle introduced its Oracle Retail Xstore Office Cloud Service that enables enterprises greater inventory visibility and mobile reporting capabilities
Get Attractive Discount @ https://www.reportsanddata.com/discount-enquiry-form/2155
Component type (Revenue in USD Million; 2016–2026)
Solution
Services
Professional Services
System Integration and deployment
Technical Support
Managed
Touch Point Type (Revenue in USD Million; 2016–2026)
Store/branch
Contact Center
Social Media
Email
Web
Virtual Assistant
Others
Deployment type (Revenue in USD Million; 2016–2026)
Cloud
On-premise
End-User (Revenue in USD Million; 2016–2026)
Banking, Financial Services, and Insurance
Telecom and IT
Media and Entertainment
Travel and Hospitality
Retail and ecommerce
Healthcare
Government
Transport and Logistics
Others
Regional Outlook (Revenue in USD Million; 2016–2026)
North America
Europe
Asia Pacific
Middle East & Africa
Latin America
Browse Complete Report "Customer Experience Management Market" @ https://www.reportsanddata.com/report-detail/customer-experience-management-market
Table of contents
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2018-2026
Chapter 3. Indicative Metrics
3.1. Proliferation of AI and ML in the customer experience management
3.2. Increasing connected devices and touch points globally
3.3. Worldwide use of mobile devices in ecommerce
Chapter 4. Customer Experience Management Market Segmentation & Impact Analysis
4.1. Industrial Outlook
4.2. Market indicators analysis
4.2.1. Market drivers analysis
4.2.1.1. Increasing Demand for Customer Experience Management Solutions to reduce churn rate
4.2.1.2. Demand for planning personalized customer engagement strategy and customer journeys
4.2.1.3. Adoption of advanced analytic techniques for increasing customer experience
4.2.1.4. Technological advancements in the customer experience management
4.2.2. Market restraints analysis
4.2.2.1. Complexities in integrating data collected from different touch points
4.2.2.2. Data security and data privacy concerns
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Competitive Metric Space Analysis
4.6. Price trend Analysis
Continued….
Read More Reports:-
HVAC Rental Equipment Market Trend, Forecast, Drivers, Restraints, Company Profiles and Key Players Analysis by 2027
Angiotensin II receptor blockers Market Size, Share, Industry Analysis and Global Forecast to 2027
Mobility As A Service (MaaS) Market Size, Share, Growth, Analysis, Trend, and Forecast Research Report by 2027
Wearable Payments Devices Market Trends, Revenue, Key Players, Growth, Share and Forecast Till 2027
About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help client's make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.