The global customer experience management market size is expected to reach USD 32.49 billion by 2025, according to a new report by Grand View Research, Inc., progressing at a CAGR of 22.9% during the forecast period. Growing focus of business organizations on retaining their customers by providing consistent and enhanced customer experience across multiple channels is one of the key trends stimulating market growth.

Cloud-based implementation of customer experience management is expected to gain traction over the forecast period. This growth can be attributed to rising number of organizations using cloud deployment models at their contact center to effectively engage customers across different channels such as mobile, email, call center, social media, and chat.

The retail sector is one of the largest end-users segment of customer experience management software. Retailers are actively focusing on delivering enhanced customer experience while buying and interacting with the brand or the company. In current era, customers are relying on different technology to get information and to make their purchase decision. Retail companies are using structured analytics CEM technology to maintain detailed information about their customer’s profile. By collecting this customer information from different touch points such as web, mobile, social and media, retail companies can get the idea about their customer preferences by analyzing their personalized insights. Using this crucial information, the retailers can deliver personalized and superior customer experience in turn gain loyal customer relationship.

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Further key findings from the report suggest:

• On the basis of touch point, the call center segment was the largest segment in 2016 and is anticipated to generate revenue of over USD 1.70 billion by 2025.

• Based on analytical tools, speech analytics is estimated to be at the forefront of the market throughout the forecast horizon

• The customer experience management market in the BFSI sector is anticipated to cross the USD 7.33 billion mark by 2025   

• Asia Pacific is projected to witness substantial growth over the forecast period. The growth can be attributed to growing adoption of CEM techniques among various end-user industries. The regional market is expected to rise at a CAGR of 24.7% from 2017 to 2025

• Key players include IBM Corporation; Oracle Corporation; Adobe Systems Incorporated; Nokia Networks; and Avaya, Inc. dominated the market in 2016.

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Grand View Research has segmented the global customer experience management market on the basis of analytical tool, touch point type, deployment, end-user, and region:

Customer Experience Management (CEM) Analytical Tool Outlook (Revenue, USD Million, 2014 – 2025)

• Enterprise Feedback Management (EFM) software

• Speech analytics

• Text analytics

• Web analytics

• Other analytics

Customer Experience Management (CEM) Touch Point Type Outlook (Revenue, USD Million, 2014 – 2025)

• Stores/ branch

• Call Centers

• Social Media

• Email

• Mobile

• Web services

• Others

Customer Experience Management (CEM) Deployment Outlook (Revenue, USD Million, 2014 – 2025)

• Cloud

• On Premise

Customer Experience Management (CEM) End-User Outlook (Revenue, USD Million, 2014 – 2025)

• BFSI

• Retail

• Healthcare

• IT & Telecom

• Manufacturing

• Government, Energy & utilities

• Others

Customer Experience Management (CEM) Regional Outlook (Revenue, USD Million, 2014 – 2025)

• North America

  • U.S.

  • Canada

• Europe

  • Germany

  • France

  • U.K.

  • Rest of Europe

• Asia Pacific

  • China

  • India

  • Japan

  • Rest of APAC

• Latin America

  • Brazil

  • Mexico

  • Rest of Latin America

• Middle East & Africa

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About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 126 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 4126 analysts and consultants, the company adds 121200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 600 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

For more information: www.grandviewresearch.com