Customer Experience Management Market - Industry Analysis, Market Size, Share, Trends,Application Analysis, Growth and Forecast 2019 - 2024

Report Code: ITR 68221 Report Format: PDF + Excel (Delivery in 48 Hrs)
Customer Experience Management Market Overview

Customer experience management market size is forecast to reach $16 billion by 2025,growing at CAGR 11 % during 2020-2025 owing to the increasing emphasis on customer retention due to lack of proper communication and customer relationship. The companies especially falling under for red ocean category, are prominently increasing their focus on improving customer experience strategy and bridge the gap created due to deficiency in customer engagement. Additionally, advanced techniques such as machine learning and analytics get a better understanding of their customer’s buying pattern and behavior to pitch better deals along withtargeting the proper customer pool which can actuallyconvert marketing qualified leads to sales qualified leads. This is set to bolster the adoption of CEM technology during the forecast period 2020-2025 thereby driving the market
 
Key Takeaways- Customer Experience Management Market Industry Analysis
Customer experience management services vertical to witness the highest growth rate owing to the adoption of these services by SMEs during the forecast period.
North America to dominate the global customer experience management market owing to the wide scale adoption by large enterprises in 2019.
Implementation of Data Analytics in customer experience management to avail new growth potential

Offering Type - Segment Analysis

By offering type, the global customer experience management market has been segmented by solutions and services. The customer experience management services market is estimated to witness the highest growth rate during 2020-2025 owing to the shift to these services from solutions to cut down operational expenses and growing preference among the SMEs. The cloud deployment models for customer experience management solutions marketis estimated to witness significant growth by the large enterprises owing to the scalability, flexibility, cost effectiveness, ease of integration with other Customer Relationship Management(CRM) solutions and various others as compared to on premise solutions. 

Geography- Segment Analysis

North Americaheld the major share of the global customer experience management market acquiring around 38% in 2018. The is mainly due to large scale adoption of customer experience management solutions and services by the large enterprises as well as the SMEs operating in the B2C and B2B space to foster their customer relationships. The APAC customer experience market demandis estimatedto grow at the highest rate during the forecast period 2020-2025. This is due to the increasing adoption of advancedartificial intelligence customer service technologiesincluding speech analytics, text analytics, web analytics and others by the SMEs especially operating in consumer good and retail, automotive and transportation, IT and telecommunication sector and others to reduce wait time by automating customer engagement and in certain cases collect customer feedback as well. The APAC customer experience market for consumer goods and retail sector is estimated to witness a growth of CAGR 13% during 2020-2025.

Drivers –Customer Experience Management Market Trends
Adoption of Advanced Data Analytics

The coalescence of data analytics customer experience workspace avails new grounds for understanding customer’s behavior, buying pattern, brand preference, buying cycle, geographic preferences and various others to understand the various customer pools which can be immediately targeted. Apart from that it also assists in understanding the customer defection and the gaps challenging in building up a strong customer relationship. This not only helps the companies to understand their internal challenges in real time but also the focus on new opportunities. Owing to these benefits of advanced data analytics, the customer experience management market is estimated to witness significant growth during 2020-2025

Challenges – Customer Experience Management Market
Lack of Skilled Workforce

The availability of skill workforce for handling analytics based customer experience management has been analyzed to be low and pay scale of the same is also high owing to which only large enterprises houses dedicated teams and procure solutions for effectively focusing onto customer relationship. However, in case of SMEs maintaining an in-house dedicated teams for customer experience puts a strain to reducing operational expenses. This is set to pose a significant challenge to the customer experience management market growth during 2020-2025

Market Landscape

Some of the key players analyzed for the customer experience management marketshare analysis includes IBM Corp, Oracle Corp, Verint Systems, Adobe Systems, Avaya Inc., SAS Institute, InMoment, Salesforce.com, Inc, SAP, Nokia, Service Management Group and so on. The customer experience management market is estimated to be moderately fragmented with the top 10 players’ accounted around 30 to 40% share of the market in 2018. These players are opting for various strategies such as acquisition, product launch,and collaboration and among others to maintain their market position and gain a stronghold through innovative offerings. However, the threat of new entrants in the market is significantly high due to the lack of regulatory barriers, IP rights and dynamic affinity for innovative solutions and services. 

Contracts &Acquisitions 
  • In October 2019, Subaru selected MaritzCX Customer Experience Platform for transition from its former measurement tools to an action-oriented program for collaborative working of the company’s dealers, field support, corporate teams and others to enhance its customer experience
  • In October 2019, Marston a U.K. based company operating in independent brewing and pub retailing business chose Service Management Group (SMG) for collecting, analyzing and share guest feedback across the country to better understand the guest experience and take actionable steps for improving its services
  • In November, 2019, Tech Mahindra Ltd. acquired Born Group Pte. Ltd. a U.S. based media outsourcing company to strengthen its commerce and customer experience capabilities

1. Customer Experience Management Market - Overview
        1.1 Definitions and Scope
2. Customer Experience Management Market - Executive summary
        2.1 Market Revenue, Market Size and Key Trends by Company
        2.2 Key Trends by type of Application
        2.3 Key Trends segmented by Geography
3. Customer Experience Management Market
        3.1 Comparative analysis
            3.1.1 Product Benchmarking - Top 10 companies
            3.1.2 Top 5 Financials Analysis
            3.1.3 Market Value split by Top 10 companies
            3.1.4 Patent Analysis - Top 10 companies
            3.1.5 Pricing Analysis
4. Customer Experience Management Market - Startup companies Scenario Premium
        4.1 Top 10 startup company Analysis by
            4.1.1 Investment
            4.1.2 Revenue
            4.1.3 Market Shares
            4.1.4 Market Size and Application Analysis
            4.1.5 Venture Capital and Funding Scenario
5. Customer Experience Management Market - Industry Market Entry Scenario Premium
        5.1 Regulatory Framework Overview
        5.2 New Business and Ease of Doing business index
        5.3 Case studies of successful ventures
        5.4 Customer Analysis - Top 10 companies
6. Customer Experience Management Market Forces
        6.1 Drivers
        6.2 Constraints
        6.3 Challenges
        6.4 Porters five force model
            6.4.1 Bargaining power of suppliers
            6.4.2 Bargaining powers of customers
            6.4.3 Threat of new entrants
            6.4.4 Rivalry among existing players
            6.4.5 Threat of substitutes
7. Customer Experience Management Market - Strategic analysis
        7.1 Value chain analysis
        7.2 Opportunities analysis
        7.3 Product life cycle
        7.4 Suppliers and distributors Market Share
8. Customer Experience Management Market - By Product Type (Market Size -$Million / $Billion)
        8.1 Market Size and Market Share Analysis
        8.2 Application Revenue and Trend Research
        8.3 Product Segment Analysis
9. Customer Experience Management Market - By Touchpoint (Market Size -$Million / $Billion)
9.1 Company Website 
9.2 Branch/Store 
9.3 Web 
9.4 Call Center 
9.5 Mobile 
9.6 Social Media 
9.7 Email 
9.8 Others
10. Customer Experience Management Market By Vertical (Market Size -$Million / $Billion)
10.1 IT Communication Service Providers
10.2 Telecommunication Service Providers
10.3 Public Sector, Energy & Utilities
10.4 Banking, Financial Services & Insurance
10.5 Healthcare
10.6 Automotive & Transportation
10.7 Consumer Goods & Retail
10.8 Media & Entertainment
10.9 Travel & Hospitality
10.10 Manufacturing
10.11 Others
11. Customer Experience Management - By Application Type (Market Size -$Million / $Billion)
        11.1 Segment type Size and Market Share Analysis
        11.2 Application Revenue and Trends by type of Application
        11.3 Application Segment Analysis by Type
12. Customer Experience Management- By Geography (Market Size -$Million / $Billion)
        12.1 Customer Experience Management Market - North America Segment Research
        12.2 North America Market Research (Million / $Billion)
            12.2.1 Segment type Size and Market Size Analysis
            12.2.2 Revenue and Trends
            12.2.3 Application Revenue and Trends by type of Application
            12.2.4 Company Revenue and Product Analysis
            12.2.5 North America Product type and Application Market Size
                  12.2.5.1 U.S
                  12.2.5.2 Canada
                  12.2.5.3 Mexico
                  12.2.5.4 Rest of North America
        12.3 Customer Experience Management- South America Segment Research
        12.4 South America Market Research (Market Size -$Million / $Billion)
            12.4.1 Segment type Size and Market Size Analysis
            12.4.2 Revenue and Trends
            12.4.3 Application Revenue and Trends by type of Application
            12.4.4 Company Revenue and Product Analysis
            12.4.5 South America Product type and Application Market Size
                  12.4.5.1 Brazil
                  12.4.5.2 Venezuela
                  12.4.5.3 Argentina
                  12.4.5.4 Ecuador
                  12.4.5.5 Peru
                  12.4.5.6 Colombia
                  12.4.5.7 Costa Rica
                  12.4.5.8 Rest of South America
        12.5 Customer Experience Management- Europe Segment Research
        12.6 Europe Market Research (Market Size -$Million / $Billion)
            12.6.1 Segment type Size and Market Size Analysis
            12.6.2 Revenue and Trends
            12.6.3 Application Revenue and Trends by type of Application
            12.6.4 Company Revenue and Product Analysis
            12.6.5 Europe Segment Product type and Application Market Size
                  12.6.5.1 U.K
                  12.6.5.2 Germany
                  12.6.5.3 Italy
                  12.6.5.4 France
                  12.6.5.5 Netherlands
                  12.6.5.6 Belgium
                  12.6.5.7 Denmark
                  12.6.5.8 Spain
                  12.6.5.9 Rest of Europe
        12.7 Customer Experience Management - APAC Segment Research
        12.8 APAC Market Research (Market Size -$Million / $Billion)
            12.8.1 Segment type Size and Market Size Analysis
            12.8.2 Revenue and Trends
            12.8.3 Application Revenue and Trends by type of Application
            12.8.4 Company Revenue and Product Analysis
            12.8.5 APAC Segment - Product type and Application Market Size
                  12.8.5.1 China
                  12.8.5.2 Australia
                  12.8.5.3 Japan
                  12.8.5.4 South Korea
                  12.8.5.5 India
                  12.8.5.6 Taiwan
                  12.8.5.7 Malaysia
                  12.8.5.8 Hong Kong
                  12.8.5.9 Rest of APAC
        12.9 Customer Experience Management - Middle East Segment and Africa Segment Research
        12.10 Middle East & Africa Market Research (Market Size -$Million / $Billion)
            12.10.1 Segment type Size and Market Size Analysis
            12.10.2 Revenue and Trend Analysis
            12.10.3 Application Revenue and Trends by type of Application
            12.10.4 Company Revenue and Product Analysis
            12.10.5 Middle East Segment Product type and Application Market Size
                  12.10.5.1 Israel
                  12.10.5.2 Saudi Arabia
                  12.10.5.3 UAE
            12.10.6 Africa Segment Analysis
                  12.10.6.1 South Africa
                  12.10.6.2 Rest of Middle East & Africa
13. Customer Experience Management Market - Entropy
        13.1 New product launches
        13.2 M&A s, collaborations, JVs and partnerships
14. Customer Experience Management Market - Industry / Segment Competition landscape Premium
        14.1 Market Share Analysis
            14.1.1 Market Share by Country- Top companies
            14.1.2 Market Share by Region- Top 10 companies
            14.1.3 Market Share by type of Application - Top 10 companies
            14.1.4 Market Share by type of Product / Product category- Top 10 companies
            14.1.5 Market Share at global level - Top 10 companies
            14.1.6 Best Practises for companies
15. Customer Experience Management Market - Key Company List by Country Premium
16. Customer Experience Management Market Company Analysis
16.1 Market Share, Company Revenue, Products, M&A, Developments
16.2 Adobe Systems
16.3 Avaya
16.4 IBM
16.5 Inmoment
16.6 Maritzcx
16.7 Medallia
16.8 Nice Systems
16.9 Nokia
16.10 Opentext
16.11 Oracle
16.12 Qualtrics
16.13 Tech Mahindra
16.14 Verint Systems
16.15 Company 14
16.16 Company 15 & More
*Financials would be provided on a best efforts basis for private companies
17. Customer Experience Management Market - Appendix
        17.1 Abbreviations
        17.2 Sources
18. Customer Experience Management Market - Methodology
        18.1 Research Methodology
            18.1.1 Company Expert Interviews
            18.1.2 Industry Databases
            18.1.3 Associations
            18.1.4 Company News
            18.1.5 Company Annual Reports
            18.1.6 Application Trends
            18.1.7 New Products and Product database
            18.1.8 Company Transcripts
            18.1.9 R&D Trends
            18.1.10 Key Opinion Leaders Interviews
            18.1.11 Supply and Demand Trends

LIST OF TABLES

1.Global Customer Experience Management Market By Vertical Market 2019-2024 ($M)
1.1 IT Communication Service Providers Market 2019-2024 ($M) - Global Industry Research
1.2 Telecommunication Service Providers Market 2019-2024 ($M) - Global Industry Research
1.3 Healthcare Market 2019-2024 ($M) - Global Industry Research
1.4 Automotive & Transportation Market 2019-2024 ($M) - Global Industry Research
1.5 Consumer Goods & Retail Market 2019-2024 ($M) - Global Industry Research
1.6 Media & Entertainment Market 2019-2024 ($M) - Global Industry Research
1.7 Travel & Hospitality Market 2019-2024 ($M) - Global Industry Research
1.8 Manufacturing Market 2019-2024 ($M) - Global Industry Research
2.Global Customer Experience Management Market By Vertical Market 2019-2024 (Volume/Units)
2.1 IT Communication Service Providers Market 2019-2024 (Volume/Units) - Global Industry Research
2.2 Telecommunication Service Providers Market 2019-2024 (Volume/Units) - Global Industry Research
2.3 Healthcare Market 2019-2024 (Volume/Units) - Global Industry Research
2.4 Automotive & Transportation Market 2019-2024 (Volume/Units) - Global Industry Research
2.5 Consumer Goods & Retail Market 2019-2024 (Volume/Units) - Global Industry Research
2.6 Media & Entertainment Market 2019-2024 (Volume/Units) - Global Industry Research
2.7 Travel & Hospitality Market 2019-2024 (Volume/Units) - Global Industry Research
2.8 Manufacturing Market 2019-2024 (Volume/Units) - Global Industry Research
3.North America Customer Experience Management Market By Vertical Market 2019-2024 ($M)
3.1 IT Communication Service Providers Market 2019-2024 ($M) - Regional Industry Research
3.2 Telecommunication Service Providers Market 2019-2024 ($M) - Regional Industry Research
3.3 Healthcare Market 2019-2024 ($M) - Regional Industry Research
3.4 Automotive & Transportation Market 2019-2024 ($M) - Regional Industry Research
3.5 Consumer Goods & Retail Market 2019-2024 ($M) - Regional Industry Research
3.6 Media & Entertainment Market 2019-2024 ($M) - Regional Industry Research
3.7 Travel & Hospitality Market 2019-2024 ($M) - Regional Industry Research
3.8 Manufacturing Market 2019-2024 ($M) - Regional Industry Research
4.South America Customer Experience Management Market By Vertical Market 2019-2024 ($M)
4.1 IT Communication Service Providers Market 2019-2024 ($M) - Regional Industry Research
4.2 Telecommunication Service Providers Market 2019-2024 ($M) - Regional Industry Research
4.3 Healthcare Market 2019-2024 ($M) - Regional Industry Research
4.4 Automotive & Transportation Market 2019-2024 ($M) - Regional Industry Research
4.5 Consumer Goods & Retail Market 2019-2024 ($M) - Regional Industry Research
4.6 Media & Entertainment Market 2019-2024 ($M) - Regional Industry Research
4.7 Travel & Hospitality Market 2019-2024 ($M) - Regional Industry Research
4.8 Manufacturing Market 2019-2024 ($M) - Regional Industry Research
5.Europe Customer Experience Management Market By Vertical Market 2019-2024 ($M)
5.1 IT Communication Service Providers Market 2019-2024 ($M) - Regional Industry Research
5.2 Telecommunication Service Providers Market 2019-2024 ($M) - Regional Industry Research
5.3 Healthcare Market 2019-2024 ($M) - Regional Industry Research
5.4 Automotive & Transportation Market 2019-2024 ($M) - Regional Industry Research
5.5 Consumer Goods & Retail Market 2019-2024 ($M) - Regional Industry Research
5.6 Media & Entertainment Market 2019-2024 ($M) - Regional Industry Research
5.7 Travel & Hospitality Market 2019-2024 ($M) - Regional Industry Research
5.8 Manufacturing Market 2019-2024 ($M) - Regional Industry Research
6.APAC Customer Experience Management Market By Vertical Market 2019-2024 ($M)
6.1 IT Communication Service Providers Market 2019-2024 ($M) - Regional Industry Research
6.2 Telecommunication Service Providers Market 2019-2024 ($M) - Regional Industry Research
6.3 Healthcare Market 2019-2024 ($M) - Regional Industry Research
6.4 Automotive & Transportation Market 2019-2024 ($M) - Regional Industry Research
6.5 Consumer Goods & Retail Market 2019-2024 ($M) - Regional Industry Research
6.6 Media & Entertainment Market 2019-2024 ($M) - Regional Industry Research
6.7 Travel & Hospitality Market 2019-2024 ($M) - Regional Industry Research
6.8 Manufacturing Market 2019-2024 ($M) - Regional Industry Research
7.MENA Customer Experience Management Market By Vertical Market 2019-2024 ($M)
7.1 IT Communication Service Providers Market 2019-2024 ($M) - Regional Industry Research
7.2 Telecommunication Service Providers Market 2019-2024 ($M) - Regional Industry Research
7.3 Healthcare Market 2019-2024 ($M) - Regional Industry Research
7.4 Automotive & Transportation Market 2019-2024 ($M) - Regional Industry Research
7.5 Consumer Goods & Retail Market 2019-2024 ($M) - Regional Industry Research
7.6 Media & Entertainment Market 2019-2024 ($M) - Regional Industry Research
7.7 Travel & Hospitality Market 2019-2024 ($M) - Regional Industry Research
7.8 Manufacturing Market 2019-2024 ($M) - Regional Industry Research

LIST OF FIGURES

1.US Customer Experience Management Market Revenue, 2019-2024 ($M)
2.Canada Customer Experience Management Market Revenue, 2019-2024 ($M)
3.Mexico Customer Experience Management Market Revenue, 2019-2024 ($M)
4.Brazil Customer Experience Management Market Revenue, 2019-2024 ($M)
5.Argentina Customer Experience Management Market Revenue, 2019-2024 ($M)
6.Peru Customer Experience Management Market Revenue, 2019-2024 ($M)
7.Colombia Customer Experience Management Market Revenue, 2019-2024 ($M)
8.Chile Customer Experience Management Market Revenue, 2019-2024 ($M)
9.Rest of South America Customer Experience Management Market Revenue, 2019-2024 ($M)
10.UK Customer Experience Management Market Revenue, 2019-2024 ($M)
11.Germany Customer Experience Management Market Revenue, 2019-2024 ($M)
12.France Customer Experience Management Market Revenue, 2019-2024 ($M)
13.Italy Customer Experience Management Market Revenue, 2019-2024 ($M)
14.Spain Customer Experience Management Market Revenue, 2019-2024 ($M)
15.Rest of Europe Customer Experience Management Market Revenue, 2019-2024 ($M)
16.China Customer Experience Management Market Revenue, 2019-2024 ($M)
17.India Customer Experience Management Market Revenue, 2019-2024 ($M)
18.Japan Customer Experience Management Market Revenue, 2019-2024 ($M)
19.South Korea Customer Experience Management Market Revenue, 2019-2024 ($M)
20.South Africa Customer Experience Management Market Revenue, 2019-2024 ($M)
21.North America Customer Experience Management By Application
22.South America Customer Experience Management By Application
23.Europe Customer Experience Management By Application
24.APAC Customer Experience Management By Application
25.MENA Customer Experience Management By Application
26.Adobe Systems, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.Oracle, Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.IBM, Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.Avaya, Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.Nice Systems, Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.Nokia, Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.Opentext, Sales /Revenue, 2015-2018 ($Mn/$Bn)
33.Tech Mahindra, Sales /Revenue, 2015-2018 ($Mn/$Bn)
34.Verint Systems, Sales /Revenue, 2015-2018 ($Mn/$Bn)
35.Maritzcx, Sales /Revenue, 2015-2018 ($Mn/$Bn)
36.Medallia, Sales /Revenue, 2015-2018 ($Mn/$Bn)
37.Qualtrics, Sales /Revenue, 2015-2018 ($Mn/$Bn)
38.Inmoment, Sales /Revenue, 2015-2018 ($Mn/$Bn)
39.Key Innovators, Sales /Revenue, 2015-2018 ($Mn/$Bn)