Global Consumer Experience Management Market: Overview
Customer experience management is a new customer management method and technology that has emerged in recent years. It takes the improvement of the overall customer experience as the starting point, pays attention to each contact with the customer, and coordinates and integrates all stages of pre-sale, sale, and after-sales, and various customer contact points, or contact channels, purposefully and seamlessly for customers. Pass the target message, create a positive feeling that matches the brand promise to achieve positive interactions, and then create a differentiated customer experience, achieve customer loyalty, and strengthen perceived value, thereby increasing corporate income and asset value.
Early detection of problems CEM tools can identify and track customer problems in the system so that business decision-makers can take immediate measures to solve them, prevent micro-steps, and avoid causing problems out of control and greater waste. By collecting and reporting on customer evaluations of specific marketing projects, CEM enables marketing agencies to understand customer responses better and develop more personalized and effective services. A well-planned and tailored marketing campaign can reduce customer questions.
Global Consumer Experience Management Market: Insights
The global Consumer Experience Management market likely to reach USD 18.52 billion in 2027 and generated USD 8.2 billion in 2019, registering a CAGR of 10.61% during the forecast period (2020-2027). The rise in the demand for customer experience management to reduce customer churn rates expected to drive the global consumer experience management market in the upcoming period. The surge in demand for personalized experience by customers across different industries would estimate to fuel the global consumer experience management market in the forthcoming period. The various factors that a company (or a brand) can directly or indirectly allow customers to experience are of different importance in different industries and for different target markets and customers. But ultimately, the quality of the customer experience is inseparable from these factors, which is why customers patronize (or not patronize). These factors are product, including kind and service.
The growing demand to improve customer engagement & reduce customer churn rates, mounting deployment of cloud-based solutions and rising demand for big data analytics will boom the global customer experience management market in the upcoming period. Additionally, the growth in social media platforms and online commerce businesses projected to influence the global customer experience management market in future periods. Customer experience management requires careful consideration of various experience factors in the process of customer purchase and consumption. These factors go beyond the products, packaging, and after-sales services that are concerned with many customer satisfaction factors that lead to customer satisfaction, including how to design to make customers feel good about the company and its brand.
The surge in the number of consumers and constant pressure faced by companies to sustain competition will drive the global customer experience management market. Additionally, advancements in big data analytics to help enterprise design, manage, and improve their end-to-end consumer experience management would propel the global customer experience management market. Furthermore, the growing demand for consumer experience management for providing customer satisfaction and retention and subsequently improving the sales for any business across industries such as retail, banking, manufacturing, and entertainment would be projected to promulgate the customer experience management industry. By effectively grasping and managing the customer experience, the companies must pay attention to the issues of customer experience and customer satisfaction if they want to gain a competitive advantage.
The SPER market research report of the Consumer Experience Management market includes all integrated approaches to the growth of the market, along with an accurate & elaborate analysis of the complete competitive situation of this market on a global level. Besides the current analytical & statistical account, the report cloaks the trends market drivers, challenges, potential opportunities, which affect the market. This market report discusses the present situation to predicted trends & aspects of the growth of the Consumer Experience Management market. Furthermore, it gives a dynamic overview & insights related to the market at both global as well as regional scales.
Global Consumer Experience Management Market: Components Insight
Based on the component, the global Consumer Experience Management Market bifurcated into Solutions, and Services. The Solutions segment accounted for a significant market share in 2019. It would continue by 2027, due to the providing customer experience solution by the applications of omnichannel, machine learning, big analytics, etc.
Global Consumer Experience Management Market: Deployment Type Insights
Based on the deployment type, the global Consumer Experience Management Market bifurcated into On-Premises and Cloud. The Cloud is likely to dominate the market by 2027, owing to its benefits of providing low-cost integration of customer experience management system within the current business environment and its scalability and flexibility.
On-Premises segment will drive by its advantages such as to reduce the total ownership cost, provide enterprises with better management, and secure control over their data.
Global Consumer Experience Management Market: Touch point Insights
Based on the touchpoint, the global Consumer Experience Management market classified into Introduction, Website, Store, Call Centre, Mobile App, Social Media, Email, Virtual Assistant, and Others. The Mobile App segment anticipated dominating the market by 2027 due to the massive surge in the sales of smartphones across which help in building sustainable consumer relationships through customer-initiated requests. Moreover, the mobile app provides an opportunity for enterprises to acquire existing customers and build brand awareness using mass marketing, email-based marketing, and personalized marketing.
Global Consumer Experience Management Market: Analytics Insights
Based on the Analytics, the global Consumer Experience Management Market categorized Enterprise Feed Management (EFM) software, Speech Analytics, Text Analytics, Web Analytics & Content Management, and Others. The Text Analytics segment estimated generating maximum revenue by 2027, on account of the rise in demand for text analytics by organizations to get data of customer’s feedback, comments, and reviews across several digital platforms and offline survey systems. It helps enterprises to understand unstructured text-based data and gain valuable insights through social media comments and product reviews.
Global Consumer Experience Management Market: Industry Vertical Insights
Based on the industry Vertical, the global Consumer Experience Management market segregated into IT and Telecom, BFSI, Retail, Healthcare, Automotive, Travel and Hospitality, and Others. The BFSI segment estimated to lead the market by 2027, owing to the growing demand for consumer experience management in the banking sector to provide consumer solutions by calling and messaging. Also, the increasing usage of smartphones to conduct banking transactions has enabled more personalized engagement, facilitating seamless banking through the mobile channel for consumers.
Global Consumer Experience Management Market: Regional Insight
By geography, the global Consumer Experience Management market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America dominates the market due to the growing demand for consumer experience management in various industry verticals, including retail, telecom, and banking, etc. through digital transformation.
The report presents a detailed assessment of the various factors influencing the market's trajectory into 2020 and 2027. It covers all the crucial information of the leading companies operating in the global Consumer Experience Management market. Besides highlighting the product offerings, the report also calculates revenue generated over the period and their position in the market.
REPORT HIGHLIGHTS
- Overview of key market forces restraining and propelling market growth.
- Provide demand, current & past status & also the forecasting up to 2027.
- Provide complete overview including, component, deployment type, touch point, analytics, industry vertical & forecast region.
- Provide focused analysis of key service providers with their market share & also help to identify market competition landscape with SWOT analysis.
- Historical, current, and projected market size in terms of value.
- Analyse the global & regional potential market, advantages, risk & opportunity.
- Identify significant factors and trends driving or inhibiting the market growth.
- In-depth coverage of the complete market in terms of supplier, buyer, price, trend, growth & forecasting.
THE REPORT COVERS ANALYSIS OF CONSUMER EXPERIENCE MANAGEMENT MARKET, BY COMPONENT
THE REPORT COVERS ANALYSIS OF CONSUMER EXPERIENCE MANAGEMENT MARKET, BY DEPLOYMENT TYPE
THE REPORT COVERS ANALYSIS OF CONSUMER EXPERIENCE MANAGEMENT MARKET, BY TOUCH POINT
- Introduction
- Website
- Store
- Call Centre
- Mobile App
- Social Media
- Email
- Virtual Assistant
- Others
THE REPORT COVERS ANALYSIS OF CONSUMER EXPERIENCE MANAGEMENT MARKET, BY ANALYTICS
- Enterprise Feed Management (EFM) software
- Speech Analytics
- Text Analytics
- Web Analytics & Content Management
- Others
THE REPORT COVERS ANALYSIS OF CONSUMER EXPERIENCE MANAGEMENT MARKET, INDUSTRY VERTICAL
- IT and Telecom
- BFSI
- Retail
- Healthcare
- Automotive
- Travel and Hospitality
- Others
THE REPORT COVERS EXHAUSTIVE ANALYSIS ON
- Market Segments
- Market Dynamics
- Brands in Market
- Market Size
- Current Trends/Issues/Challenges
- Competition & Companies Involved
- Forecasting
- Technology
THE REPORT INCLUDES REGIONAL ANALYSIS ON
- North America (Canada, US, Mexico, & Rest of North America Available)
- Asia-Pacific (China, India, South Korea, Japan & Rest of Asia Pacific Available)
- Europe (Germany, Spain, France, United Kingdom & Rest of Europe Available)
- Central & South America (Brazil, Argentina & Rest of South America Available)
- Middle East & Africa (GCC Countries, South Africa, & Rest of MEA available)
KEY PLAYERS OF CONSUMER EXPERIENCE MANAGEMENT MARKET
- Adobe Systems
- Oracle Corporation
- SAP
- IBM
- Avaya Inc.
- NICE Systems
- Nokia
- OpenText
- Tech Mahindra
- Verint Systems
- Zendesk
- SDL
- MaritzCX
- Medallia
- InMoment
- Clarabridge
- Sitecore
- Other Prominent Players
1. Introduction
2. Research Methodology
3. Executive Summary
4. Market Overview
4.1. Introduction
4.2. Market Dynamics
4.2.1. Drivers
4.2.2. Restraints
4.2.3. Opportunities
4.2.4. Challenges
4.3. COVID-19 Impact of the Consumer Experience Management Market
4.4. Market Trends
5. Global Consumer Experience Management Market, By Component, 2021-2027 (USD Million)
5.1. Solutions
5.2. Services
6. Global Consumer Experience Management Market, By Deployment Type, 2021-2027 (USD Million)
6.1. On-premise
6.2. Cloud
7. Global Consumer Experience Management Market, By Touch point, 2021-2027 (USD Million)
7.1. Website
7.2. Store
7.3. Call Center
7.4. Mobile App
7.5. Social Media
7.6. Email
7.7. Virtual Assistant
7.8. Others
8. Global Consumer Experience Management Market, By Analytical Tool, 2021-2027 (USD Million)
8.1. Enterprise Feed Management Software
8.2. Speech Analytics
8.3. Text Analytics
8.4. Web Analytics & Content Management
8.5. Others
9. Global Consumer Experience Management Market, By Industry Vertical, 2021-2027 (USD Million)
9.1.1. IT & Telecom
9.1.2. BFSI
9.1.3. Retail
9.1.4. Healthcare
9.1.5. Automotive
9.1.6. Travel & Hospitality
9.1.7. Others
10. Global Consumer Experience Management Market, By Geography, 2021-2027 (USD Million)
10.1. North America
10.1.1. US
10.1.2. Canada
10.2. Europe
10.2.1. Germany
10.2.2. UK
10.2.3. France
10.2.4. Italy
10.2.5. Spain
10.2.6. Rest of Europe
10.3. Asia-Pacific
10.3.1. China
10.3.2. Japan
10.3.3. India
10.3.4. Rest of Asia-Pacific
10.4. Rest of the World
10.4.1. Latin America
10.4.2. Middle East & Africa
11. Competitive Landscape
11.1. Introduction
11.2. Market Share Analysis, By Key Players (2019)
11.3. Competitive Scenario
11.3.1. Product Launches
11.3.2. Partnerships, Collaborations and Agreements
11.3.3. Acquisitions
11.3.4. Expansions
11.3.5. Other Developments
12. Company Profiles
12.1. Adobe
12.2. Algonomy
12.3. Amperity
12.4. Avaya
12.5. Clarabridge
12.6. IBM
12.7. InMoment
12.8. Medallia
12.9. MindTouch
12.10. Mixpanel
12.11. NGDATA
12.12. Nice
12.13. Nokia
12.14. OpenText
12.15. Oracle
12.16. SAP
12.17. SAS
12.18. Segment.io
12.19. Sitecore
12.20. SoGoSurvey
12.21. Sprinklr
12.22. Tech Mahindra
12.23. Teradata
12.24. Verint Systems
12.25. Zendesk
12.26. ZephyrTel
13. Appendix