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Customer Engagement Solutions Market by Component (Solutions, Services), Deployment Type (Cloud, On-premises), Organization Size, Vertical (BFSI, Telecommunication, Consumer Goods & Retail), and Region - Global Forecast to 2023

  • ID: 4593781
  • Report
  • Region: Global
  • 161 Pages
  • Markets and Markets
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The customer engagement solutions market is projected to grow from USD 14.08 billion in 2018 to USD 23.19 billion by 2023, at a CAGR of 10.5% during the forecast period.

FEATURED COMPANIES

  • Aspect Software
  • Crmnext
  • Genesys
  • Lithium Technologies
  • Opentext
  • Salesforce
  • MORE

“Increasing use of e-commerce and m-commerce platforms and growing focus on delivering enhanced customer engagement through omnichannel are factors expected to drive the customer engagement solutions market.”

The customer engagement solutions market is projected to grow from USD 14.08 billion in 2018 to USD 23.19 billion by 2023, at a CAGR of 10.5% during the forecast period. Factors such as increasing adoption of customer engagement solutions to reduce customer churn rate, increasing use of e-commerce and m-commerce platforms, and growing focus on delivering enhanced customer engagement through omnichannel are key factors driving the customer engagement solutions market. Data synchronization between customer engagement solutions and other technologies is restraining the growth of the market.

“Based on deployment type, the cloud segment is estimated to lead the customer engagement solutions market in 2018.”

Based on deployment type, the cloud segment is estimated to lead the customer engagement solutions market in 2018. Cloud-based deployment of customer engagement solutions has enabled businesses to operate without a server infrastructure or office location, thereby allowing employees to work remotely. This, in turn, has helped reduce the total cost of ownership and increase data storage capabilities for organizations.

“The Asia Pacific customer engagement solutions market is expected to grow at the highest CAGR during the forecast period.”

Based on region, the customer engagement solutions market has been segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America. The Asia Pacific customer engagement solutions market is projected to grow at the highest CAGR during the forecast period. The growth of the Asia Pacific customer engagement solutions market can be attributed to the increased adoption of cloud computing by different organizations in this region. Small & medium enterprises across various countries such as Australia, Malaysia, Japan, and Singapore are investing in information technology to compete, secure, and capture digital opportunities present in the market.

In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, innovation and technology directors, and executives from various organizations operating in the customer engagement solutions market.

  • By Company Type: Tier 1: 14%, Tier 2: 43%, and Tier 3: 43%
  • By Designation: C-Level: 37%, Director Level: 13%, and Others: 50%
  • By Region: North America: 37%, Europe: 25%, Asia Pacific: 25%, and Rest of the World: 13%

Key vendors profiled in the report are:

  • Aspect Software (US)
  • Avaya (US)
  • Calabrio (US)
  • Genesys (US)
  • IBM (US)
  • Microsoft (US)
  • NICE Systems (Israel)
  • Nuance Communications (US)
  • OpenText (Canada)
  • Oracle (US)
  • Pegasystems (US)
  • Pitney Bowes (US)
  • Salesforce (US)
  • SAP (Germany)
  • ServiceNow (US)
  • Verint Systems (US)
  • Zendesk (US)
  • eGain Corporation (US)
  • BPMonline (US)
  • CRMnext (India)
  • Eptica (France)
  • Freshworks (US)
  • IFS-mplsystems (UK)
  • Lithium Technologies (US)
  • SugarCRM (US)

Research Coverage

The customer engagement solutions market has been segmented on the basis of component, organization size, deployment type, vertical, and region. Based on component, the customer engagement solutions market has been segmented into solutions and services. Based on deployment type, the market has been segmented into cloud and on-premises. Based on organization size, the customer engagement solutions market has been segmented into large enterprises and small & medium enterprises. Based on vertical, the market has been segmented into BFSI, consumer goods & retail, telecommunication, healthcare & life sciences, automotive & transportation, media & entertainment, travel & hospitality, manufacturing, and others (power, utilities, education, and logistics). Based on region, the customer engagement solutions market has been segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America.

The report will help market leaders and new entrants in the customer engagement solutions market in the following ways:

  • The report will help market leaders/new entrants in this market by providing them the closest approximations of revenues of the customer engagement solutions market and its subsegments.
  • This report will also help stakeholders better understand the competitor landscape, gain more insights to position their businesses, and implement suitable go-to-market strategies.
  • The report will help stakeholders understand the pulse of the market and provide them information on key market drivers, restraints, challenges, and opportunities.
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FEATURED COMPANIES

  • Aspect Software
  • Crmnext
  • Genesys
  • Lithium Technologies
  • Opentext
  • Salesforce
  • MORE

1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.3.1 Market Segmentation
1.3.2 Years Considered for the Study
1.4 Currency
1.5 Stakeholders

2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Key Industry Insights
2.1.2.3 Breakdown of Primaries
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.2 Top-Down Approach
2.3 Data Triangulation
2.4 Research Assumptions
2.5 Limitations

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in the Customer Engagement Solutions Market
4.2 North America: Market By Component
4.3 Europe: Market By Deployment Type
4.4 Middle East & Africa: Market By Organization Size
4.5 Asia Pacific: Market By Vertical
4.6 Market By Vertical & Region

5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Adoption of Customer Engagement Solutions to Reduce Customer Churn Rate
5.2.1.2 Increasing Use of E-Commerce and M-Commerce Platforms
5.2.1.3 Increasing Focus on Delivering Enhanced Customer Engagement Through Omnichannel
5.2.1.4 Rising Adoption of Smartphones and Tablets
5.2.2 Restraints
5.2.2.1 Data Synchronization Between Customer Engagement Solutions and Other Technologies
5.2.2.2 Personalized Expectations of Customers
5.2.3 Opportunities
5.2.3.1 Increased Applicability of Big Data and Machine Learning
5.2.3.2 Increased Investments in Artificial Intelligence (AI)
5.2.3.3 Increased Cross-Selling and Upselling Activities
5.2.4 Challenges
5.2.4.1 Managing Security With Multiple Customer Touchpoints
5.2.4.2 Choosing the Proper Mix of Technology and Personnel
5.3 Industry Trends
5.3.1 Case Studies
5.3.1.1 Case Study 1: Mma Enhances Existing Sales Strategy With Online Chat to Increase Global Conversion Rates
5.3.1.2 Case Study 2: Dixons Carphone Ramps Up Its Live Helpdesk Functionality With the Help of Nuance Live Chat Solution
5.3.1.3 Case Study 3: Citi Mortgage Accelerated Interaction With Potential Buyers With the Help of Nuance Proactive Engagement Platform

6 Customer Engagement Solutions Market, By Component
6.1 Introduction
6.2 Solutions
6.2.1 Omnichannel
6.2.2 Workforce Optimization
6.2.3 Robotic Process Optimization
6.2.4 Analytics & Reporting
6.3 Services
6.3.1 Professional Services
6.3.1.1 Implementation & Integration Services
6.3.1.2 Support & Maintenance Services
6.3.1.3 Consulting Services
6.3.2 Managed Services

7 Market By Deployment Type
7.1 Introduction
7.2 Cloud
7.3 On-Premises

8 Customer Engagement Solutions Market, By Organization Size
8.1 Introduction
8.2 Small & Medium Enterprises
8.3 Large Enterprises

9 Market By Vertical
9.1 Introduction
9.2 BFSI
9.3 Consumer Goods & Retail
9.4 Telecommunication
9.5 Healthcare & Life Sciences
9.6 Automotive & Transportation
9.7 Media & Entertainment
9.8 Travel & Hospitality
9.9 Manufacturing
9.10 Others

10 Regional Analysis
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.3 Europe
10.3.1 UK
10.3.2 Germany
10.3.3 Rest of Europe
10.4 Asia Pacific
10.4.1 China
10.4.2 India
10.4.3 Japan
10.4.4 Rest of Asia Pacific
10.5 Middle East & Africa
10.5.1 Saudi Arabia
10.5.2 South Africa
10.5.3 Rest of Middle East & Africa
10.6 Latin America
10.6.1 Mexico
10.6.2 Brazil
10.6.3 Rest of Latin America

11 Competitive Landscape
11.1 Overview
11.2 Competitive Situation and Trends
11.2.1 New Product Launches & Product Enhancements
11.2.2 Agreements, Collaborations, and Partnerships
11.2.3 Acquisitions
11.2.4 Expansions
11.3 Market Ranking of Key Players

12 Company Profiles
12.1 Avaya
12.2 Aspect Software
12.3 Calabrio
12.4 Genesys
12.5 IBM
12.6 Microsoft
12.7 Nice Systems
12.8 Nuance Communications
12.9 Opentext
12.10 Oracle
12.11 Pegasystems
12.12 Pitney Bowes
12.13 Salesforce
12.14 SAP
12.15 Servicenow
12.16 Verint Systems
12.17 Zendesk
12.18 Key Innovators
12.18.1 Egain Corporation
12.18.2 Bpmonline
12.18.3 Crmnext
12.18.4 Eptica
12.18.5 Freshworks
12.18.6 Ifs-Mplsystems
12.18.7 Lithium Technologies
12.18.8 Sugarcrm

13 Appendix
13.1 Industry Excerpts
13.2 Discussion Guide
13.3 Knowledge Store
13.4 Introducing RT: Real-Time Market Intelligence
13.5 Available Customizations
13.6 Related Reports
13.7 Author Details

List of Tables
Table 1 Customer Engagement Solutions Market Size, By Component, 2016–2023 (USD Million)
Table 2 Market Size By Solution Type, 2016–2023 (USD Million)
Table 3 Solutions: Market Size By Region, 2016–2023 (USD Million)
Table 4 Omnichannel: Market Size By Region, 2016–2023 (USD Million)
Table 5 Workforce Optimization: Market Size By Region, 2016–2023 (USD Million)
Table 6 Robotic Process Optimization: Market Size By Region, 2016–2023 (USD Million)
Table 7 Analytics & Reporting: Market Size, By Region, 2016–2023 (USD Million)
Table 8 Customer Engagement Solutions Market Size, By Service Type, 2016–2023 (USD Million)
Table 9 Services: Market Size By Region, 2016–2023 (USD Million)
Table 10 Professional Services: Market Size By Region, 2016–2023 (USD Million)
Table 11 Managed Services: Market Size By Region, 2016–2023 (USD Million)
Table 12 Market Size By Deployment Type, 2016-2023 (USD Billion)
Table 13 Cloud: Market Size By Region, 2016–2023 (USD Million)
Table 14 On-Premises: Market Size By Region, 2016–2023 (USD Million)
Table 15 Market Size By Organization Size, 2016-2023 (USD Billion)
Table 16 Small & Medium Enterprises: Market Size By Region, 2016-2023 (USD Million)
Table 17 Large Enterprises: Market Size By Region, 2016-2023 (USD Million)
Table 18 Customer Engagement Solutions Market Size, By Vertical, 2016-2023 (USD Billion)
Table 19 BFSI: Market Size By Region, 2016-2023 (USD Million)
Table 20 Consumer Goods & Retail: Market Size By Region, 2016-2023 (USD Million)
Table 21 Telecommunication: Market Size By Region, 2016-2023 (USD Million)
Table 22 Healthcare & Life Sciences: Market Size By Region, 2016-2023 (USD Million)
Table 23 Automotive & Transportation: Market Size By Region, 2016-2023 (USD Million)
Table 24 Media & Entertainment: Market Size By Region, 2016-2023 (USD Million)
Table 25 Travel & Hospitality: Market Size By Region, 2016-2023 (USD Million)
Table 26 Manufacturing: Market Size By Region, 2016-2023 (USD Million)
Table 27 Others: Market Size By Region, 2016-2023 (USD Million)
Table 28 Customer Engagement Solutions Market, By Region, 2016–2023 (USD Billion)
Table 29 North America Market By Component, 2016–2023 (USD Million)
Table 30 North America Market By Solution Type, 2016–2023 (USD Million)
Table 31 North America Market By Service Type, 2016–2023 (USD Million)
Table 32 North America Market By Organization Size, 2016–2023 (USD Million)
Table 33 North America Market By Deployment Type, 2016–2023 (USD Million)
Table 34 North America Market By Vertical, 2016–2023 (USD Million)
Table 35 North America Market By Country, 2016–2023 (USD Million)
Table 36 Europe Customer Engagement Solutions Market, By Component, 2016–2023 (USD Million)
Table 37 Europe Market By Solution Type, 2016–2023 (USD Million)
Table 38 Europe Market By Service Type, 2016–2023 (USD Million)
Table 39 Europe Market By Organization Size, 2016–2023 (USD Million)
Table 40 Europe Market By Deployment Type, 2016–2023 (USD Million)
Table 41 Europe Market By Vertical, 2016–2023 (USD Million)
Table 42 Europe Market By Country, 2016–2023 (USD Million)
Table 43 Asia Pacific Customer Engagement Solutions Market, By Component, 2016–2023 (USD Million)
Table 44 Asia Pacific Market By Solution Type, 2016–2023 (USD Million)
Table 45 Asia Pacific Market By Service Type, 2016–2023 (USD Million)
Table 46 Asia Pacific Market By Organization Size, 2016–2023 (USD Million)
Table 47 Asia Pacific Market By Deployment Type, 2016–2023 (USD Million)
Table 48 Asia Pacific Market By Vertical, 2016–2023 (USD Million)
Table 49 Asia Pacific Market By Country, 2016–2023 (USD Million)
Table 50 Middle East & Africa Customer Engagement Solutions Market, By Component, 2016–2023 (USD Million)
Table 51 Middle East & Africa Market By Solutions, 2016–2023 (USD Million)
Table 52 Middle East & Africa Market By Services, 2016–2023 (USD Million)
Table 53 Middle East & Africa Market By Organization Size, 2016–2023 (USD Million)
Table 54 Middle East & Africa Market By Deployment Type, 2016–2023 (USD Million)
Table 55 Middle East & Africa Market By Vertical, 2016–2023 (USD Million)
Table 56 Middle East & Africa Market By Country, 2016–2023 (USD Million)
Table 57 Latin America Customer Engagement Solutions Market, By Component, 2016–2023 (USD Million)
Table 58 Latin America Market By Solutions Type, 2016–2023 (USD Million)
Table 59 Latin America Market By Services Type, 2016–2023 (USD Million)
Table 60 Latin America Market By Organization Size, 2016–2023 (USD Million)
Table 61 Latin America Market By Deployment Type, 2016–2023 (USD Million)
Table 62 Latin America Market By Vertical, 2016–2023 (USD Million)
Table 63 Latin America Market By Country, 2016–2023 (USD Million)
Table 64 Market Evaluation Framework
Table 65 New Product Launches & Product Enhancements, March 2018- June 2018
Table 66 Agreements, Collaborations, and Partnerships, July 2017- June 2018
Table 67 Acquisitions, August 2016-May 2018
Table 68 Expansions, October 2016-March 2018
Table 69 Market Ranking of the Key Players in the Customer Engagement Solutions Market in 2017

List of Figures
Figure 1 Market Segmentation: Customer Engagement Solutions Market
Figure 2 Market Research Design
Figure 3 Breakdown of Primary Interviews: By Company Type, Designation, and Region
Figure 4 Market Size Estimation Methodology: Bottom-Up Approach
Figure 5 Market Size Estimation Methodology: Top-Down Approach
Figure 6 Data Triangulation
Figure 7 Customer Engagement Solutions Market, By Component, 2018 & 2023 (USD Billion)
Figure 8 Market By Deployment Type, 2018 & 2023 (USD Billion)
Figure 9 Market By Organization Size, 2018 & 2023 (USD Billion)
Figure 10 Market Share By Vertical, 2018
Figure 11 Market By Region, 2018 & 2023 (USD Billion)
Figure 12 Asia Pacific Customer Engagement Solutions Market Projected to Grow at the Highest CAGR From 2018 to 2023
Figure 13 Increasing Adoption of Customer Engagement Solutions to Reduce Customer Churn Rate is Driving the Growth of the Market
Figure 14 Services Segment of the Market Projected to Grow at A Higher CAGR Than Solutions Segment From 2018 to 2023
Figure 15 Cloud Segment of the Market Projected to Grow at A Higher CAGR Than On-Premises Segment From 2018 to 2023
Figure 16 Small & Medium Enterprises Segment of the Market Projected to Grow at A Higher CAGR Than Large Enterprises Segment From 2018 to 2023
Figure 17 BFSI Segment of the Market Projected to Grow at the Highest CAGR From 2018 to 2023
Figure 18 North America and BFSI Vertical Segment Expected to Lead the Market in 2018
Figure 19 Customer Engagement Solutions Market: Drivers, Restraints, Opportunities, and Challenges
Figure 20 Solutions Segment Expected to Grow at Higher CAGR During Forecast Period as Compared to Services Segment
Figure 21 Analytics & Reporting Segment Expected to Grow at Highest CAGR During Forecast Period
Figure 22 Managed Services Segment Expected to Grow at Higher CAGR During Forecast Period as Compared to Professional Services Segment
Figure 23 Cloud Segment Estimated to Lead Market in 2018
Figure 24 Large Enterprises Segment Estimated to Lead Market in 2018
Figure 25 BFSI Segment Estimated to Lead Market in 2018
Figure 26 North America Estimated to Be Largest Market for Market in 2018
Figure 27 Customer Engagement Solutions Market in Asia Pacific Projected to Grow at Highest CAGR During Forecast Period
Figure 28 North America Market Snapshot
Figure 29 Asia Pacific Market Snapshot
Figure 30 Companies Adopted New Product Launches & Product Enhancements as Key Growth Strategies Between January 2016 and June 2018
Figure 31 Avaya: Company Snapshot
Figure 32 IBM: Company Snapshot
Figure 33 Microsoft: Company Snapshot
Figure 34 Nice Systems: Company Snapshot
Figure 35 Nuance Communications: Company Snapshot
Figure 36 Opentext: Company Snapshot
Figure 37 Oracle: Company Snapshot
Figure 38 Pegasystems: Company Snapshot
Figure 39 Pitney Bowes: Company Snapshot
Figure 40 Salesforce: Company Snapshot
Figure 41 SAP: Company Snapshot
Figure 42 Servicenow: Company Snapshot
Figure 43 Verint Systems: Company Snapshot
Figure 44 Zendesk: Company Snapshot

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  • Avaya
  • Aspect Software
  • Calabrio
  • Genesys
  • IBM
  • Microsoft
  • Nice Systems
  • Nuance Communications
  • Opentext
  • Oracle
  • Pegasystems
  • Pitney Bowes
  • Salesforce
  • SAP
  • Servicenow
  • Verint Systems
  • Zendesk
  • Key Innovators
  • Egain Corporation
  • Bpmonline
  • Crmnext
  • Eptica
  • Freshworks
  • Ifs-Mplsystems
  • Lithium Technologies
  • Sugarcrm
Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown
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