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Customer Success Platforms Market by Application (Sales and Marketing Management, CEM, and Risk and Compliance Management), Component (Solutions and Services), Deployment Model, Industry Vertical, and Region - Global Forecast to 2024

  • ID: 4774868
  • Report
  • Region: Global
  • 144 Pages
  • Markets and Markets
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The Global Customer Success Platforms Market to Grow from USD 854 Million in 2019 to USD 2,664 Million by 2024, at a CAGR of 25.5% During the Forecast Period.

FEATURED COMPANIES

  • Akita
  • Armatic Technologies
  • Churnzero
  • CustomerSuccessBox
  • Natero
  • Salesmachine
  • MORE

The advent of cloud computing in customer success, and the demand for advanced solutions to monitor customer scores and reduce churn to drive the adoption of customer success platforms across the retail and eCommerce industry vertical

The customer success platforms market is growing rapidly with the advent of cloud computing in customer success, the demand for advanced solutions to monitor customer scores and reduce churn, and the rise in the data volume due to increased digitalization. However, difficulty in data aggregation and synchronization from multiple tools would limit the growth of the market.

Customer service application to grow at the highest CAGR during the forecast period

Customer service plays a crucial role in driving better customer engagement and personalized customer experiences. Enterprises utilize analytics to improve and optimize their customer service operations. With advanced service analytics capabilities, organizations can identify the causes of customer service issues in real-time. Service analytics enables customer service managers to monitor and analyze Key Performance Indicators (KPIs), such as average response time, the best agent to issue, distribution of workload, and agent performance assessment.

Customer success platforms market in APAC to grow at the highest CAGR during the forecast period

The significant advancement of the market in Asia Pacific (APAC) is attributed to high growth potential, growing adoption of advanced technologies such as Artificial Intelligence (AI) and Machine Learning (ML), and increasing digitalization in the region with the rising need of businesses to remain globally competitive. Furthermore, the growing significance of big data and advanced analytics are also expected to fuel the growth of the customer success platforms market. However, difficulties in data aggregation and synchronization from multiple sources remain the biggest hurdle in the customer success platforms adoption across the region. The cloud-based customer success platforms present an optimal solution for these countries by minimizing integration complexities.

SMEs to hold the highest market share during the forecast period in the customer success platforms market

Organizations have been gradually recognizing the importance of customer success solutions, and have started deploying them, as per their needs and available resources. The availability of Software-as-a-Service (SaaS) based customer success solutions have gained popularity among Small and Medium-sized Enterprises (SMEs). These enterprises have started to deploy such solutions to generate a 360° view of customers and identify patterns, trends and gather insights to improve business performance. The SMEs segment is expected to maintain its dominance in terms of revenue generation throughout the forecast period.

In-depth interviews were conducted with Chief Executive Officers (CEOs), Chief Technology Officers (CTOs), Chief Operating Officers (COOs), Vice Presidents (VPs), Managing Directors (MDs), technology and innovation directors, and related key executives from various key companies and organizations operating in the customer success platforms market.

  • By Company: Tier 1-10%, Tier 2-25%, and Tier 3-65%
  • By Designation: C-Level-25%, Director Level-50%, and Others-25%
  • By Region: North America-40%, Europe-30%, APAC-20%, and RoW - 10%

The customer success platforms market comprises major solution providers, such as Gainsight (US), Salesforce (US), Natero (US), Totango (US), Amity (Canada), Strikedeck (US), ChurnZero (US), ClientSuccess (US), Bolstra (US), Salesmachine (US), UserIQ (US), Planhat (Sweden), AppsForOps (Australia), Catalyst (US), Armatic Technologies (US), CustomerSuccessBox (US), Clientshare (England), Wootric (US), Komiko (US), and Akita (Ireland). The study includes an in-depth competitive analysis of these key players in the customer success platforms market with their company profiles, recent developments, and key market strategies.

Research Coverage

The customer success platforms market revenue is primarily classified into revenues from solutions and services. Solutions revenue is associated with software/platform offerings while services’ revenue is associated with support and maintenance services and consulting services. The market is also segmented on the basis of application, deployment model, organization size, industry vertical, and region.

Key benefits of the report

  • The report would help the market leaders/new entrants in this market with the information on the closest approximations of the revenue numbers for the overall customer success platforms market and the subsegments.
  • This report would help stakeholders understand the competitive landscape and gain insights to better position their businesses and plan suitable go-to-market strategies.
  • The report also helps stakeholders understand the pulse of the market and provides them with information on the key market drivers, restraints, challenges, and opportunities.
Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Akita
  • Armatic Technologies
  • Churnzero
  • CustomerSuccessBox
  • Natero
  • Salesmachine
  • 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 Regions Covered
1.4 Years Considered for the Study
1.5 Currency Considered
1.6 Stakeholders

2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.2 Primary Data
2.1.2.1 Breakup of Primary Profiles
2.1.2.2 Key Industry Insights
2.2 Market Breakup and Data Triangulation
2.3 Market Size Estimation
2.4 Market Forecast
2.5 Competitive Leadership Mapping Research Methodology
2.5.1 Vendor Inclusion Criteria
2.6 Assumptions for the Study
2.7 Limitations of the Study

3 Executive Summary

4 Premium Insights
4.1 Attractive Market Opportunities in the Customer Success Platforms Market
4.2 Market By Application (2019-2024)
4.3 Market By Organization Size
4.4 Market Share Across Regions

5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Advent of Cloud Computing in Customer Success
5.2.1.2 Demand for Advanced Solutions to Monitor Customer Scores and Reduce Churn
5.2.1.3 Rising Data Volume Due to Increased Digitalization
5.2.2 Restraints
5.2.2.1 Data Aggregation and Synchronization From Multiple Silos
5.2.3 Opportunities
5.2.3.1 Rising Adoption of Advanced Technologies, Such as Artificial Intelligence and Machine Learning
5.2.3.2 Increasing Investment in Customer Success Platform Startups
5.2.4 Challenges
5.2.4.1 Data Security and Privacy Concerns
5.3 Industry Trends
5.3.1 Use Cases
5.3.1.1 Use Case 1: Increasing Customer Engagement By Analyzing Customer Health
5.3.1.2 Use Case 2: Reducing Onboarding Time Through Data-Driven Insights
5.3.1.3 Use Case 3: Tracking Customer Interactions for Driving Business
5.3.2 Impact of Artificial Intelligence and Machine Learning on the Customer Success Platforms Market
5.3.3 Customer Success Process

6 Customer Success Platforms Market By Application
6.1 Introduction
6.2 Customer Experience Management
6.2.1 Increasing Need for Real-Time Insights Into Customer Data to Drive Customer Experience Management
6.3 Sales and Marketing Management
6.3.1 Focus on Better Engagement With Target Audience to Drive Sales and Marketing Management
6.4 Risk and Compliance Management
6.4.1 Increasing Need for Mitigating Risks Associated With Misuse of Customer Data and Meeting Strict Regulations to Spur Demand for Risk and Compliance Management
6.5 Customer Service
6.5.1 Growing Focus on Enhancing Customer Interactions and Ensuring Timely Delivery to Drive Customer Service
6.6 Others

7 Customer Success Platforms Market By Component
7.1 Introduction
7.2 Solution
7.2.1 Need for Consolidating Distinct Customer Data to Enhance Customer Experience Driving the Adoption of Customer Success Solutions
7.3 Services
7.3.1 Professional Services
7.3.1.1 Support and Maintenance Services
7.3.1.1.1 Need for Technical and Maintenance Assistance During Software Life Cycle to Drive the Growth of Support and Maintenance Services
7.3.1.2 Consulting Services
7.3.1.2.1 Need for Business Performance Improvement and Cost Reduction to Create Demand for Consulting Services
7.3.2 Managed Services
7.3.2.1 Increasing Need for Monitoring and Managing Business Operations to Drive the Growth of Managed Services

8 Customer Success Platforms Market By Deployment Model
8.1 Introduction
8.2 On-Premises
8.2.1 Data Privacy and Security Advantages to Boost the Growth of On-Premises Customer Success Solutions
8.3 Cloud
8.3.1 Benefits Such as Mobility, Low Setup Costs, and Universal Access to Boost the Adoption of Cloud-Based Customer Success Solutions

9 Customer Success Platforms Market By Organization Size
9.1 Introduction
9.2 Small and Medium-Sized Enterprises
9.2.1 Increasing Demand for Cloud-Based Solutions to Drive the Adoption of Customer Success Solutions in SMEs
9.3 Large Enterprises
9.3.1 Rising Need for Customer Data Analysis to Drive the Adoption of Customer Success Solutions in Large Enterprises

10 Customer Success Platforms Market By Industry Vertical
10.1 Introduction
10.2 Banking, Financial Services, and Insurance
10.2.1 Focus on Compliance With Regulations and Financial Standards to Increase the Demand for Customer Success Solutions in BFSI
10.3 Retail and eCommerce
10.3.1 Growing eCommerce Business and Need for Building Customer-Centric Strategy to Drive the Adoption of Customer Success Solutions in Retail and eCommerce
10.4 Telecommunications and It
10.4.1 Increasing Need for Harnessing Massive Customer Data With Customer Success Solutions to Boost the Market Growth in Telecommunications and It
10.5 Healthcare and Life Sciences
10.5.1 Creating Data-Driven Personalized Treatment Plans to Drive the Adoption of Customer Success Solutions in Healthcare and Life Sciences
10.6 Government and Public Sector
10.6.1 Focus on Assessing Tax Risk and Predicting Crimes to Boost the Growth of Customer Success Platforms Market in Government and Public Sector
10.7 Others

11 Customer Success Platforms Market By Region
11.1 Introduction
11.2 North America
11.2.1 United States
11.2.1.1 High Consumer Spending and Presence of A Large Number of Players to Drive the Adoption of Customer Success Solutions in the Us
11.2.2 Canada
11.2.2.1 Need for Companies to Leverage the Increasing Volume of Data Driving the Growth of Market in Canada
11.3 Europe
11.3.1 United Kingdom
11.3.1.1 Increasing Technology Adoption and Various Government Initiatives to Fuel the Growth of Market in the Uk
11.3.2 Germany
11.3.2.1 High-Income Markets and Need for Maintaining A Competitive Edge to Drive the Adoption of Customer Success Solutions in Germany
11.3.3 France
11.3.3.1 Need for Understanding Changing Customer Behavior to Boost the Growth of Market in France
11.3.4 Rest of Europe
11.4 Asia Pacific
11.4.1 China
11.4.1.1 Increasing Digitalization and Growing Need for Enhanced Customer Experience Across Various Industries to Drive the Adoption of Customer Success Solutions in China
11.4.2 Japan
11.4.2.1 High Investment in Labor-Savvy Technologies to Fuel the Growth of Customer Success Platforms Market in Japan
11.4.3 India
11.4.3.1 Incorporating A Customer-Centric Approach in Business Strategies to Drive the Adoption of Customer Success Solutions in India
11.4.4 Rest of Asia Pacific
11.5 Middle East and Africa
11.5.1 Middle East
11.5.1.1 Changing Customer Demands and Increased Inclination Toward Advanced Technologies to Fuel the Growth of Market in the Middle East
11.5.2 Africa
11.5.2.1 Increasing Awareness of the Benefits of Customer Success Platforms to Boost the Market Growth in Africa
11.6 Latin America
11.6.1 Mexico
11.6.1.1 Increasing Trade and Rising Customer Base to Fuel the Growth of Market in Mexico
11.6.2 Brazil
11.6.2.1 Growing Adoption of Cloud-Based Solutions to Propel the Growth of Market in Brazil
11.6.3 Rest of Latin America

12 Competitive Landscape
12.1 Competitive Leadership Mapping (Start-Up)
12.1.1 Progressive Companies
12.1.2 Responsive Companies
12.1.3 Dynamic Companies
12.1.4 Starting Blocks
12.2 Strength of Product Portfolio
12.3 Business Strategy Excellence
12.4 Ranking Analysis

13 Company Profiles
13.1 Introduction
Business Overview, Platforms & Solution, Key Insights, Recent Developments, SWOT Analysis, Author's View
13.2 Gainsight
13.3 Salesforce
13.4 Natero
13.5 Totango
13.6 Amity
13.7 Strikedeck
13.8 Churnzero
13.9 ClientSuccess
13.10 Bolstra
13.11 UserIQ
13.12 Planhat
13.13 Salesmachine
13.14 Catalyst
13.15 AppsForOps
13.16 Armatic Technologies
13.17 CustomerSuccessBox
13.18 Clientshare
13.19 Wootric
13.20 Komiko
13.21 Akita

Details on Business Overview, Platforms & Solutions, Key Insights, Recent Developments, SWOT Analysis, Author's View might not be captured in case of unlisted companies.

14 Appendix
14.1 Discussion Guide
14.2 Knowledge Store: Subscription Portal
14.3 Available Customization
14.4 Related Reports
14.5 Author Details

List of Tables (73 Tables)

Table 1 United States Dollar Exchange Rate, 2016-2019
Table 2 Factor Analysis
Table 3 Evaluation Criteria
Table 4 Customer Success Platforms Market Size and Growth Rate, 2017-2024 (USD Million, Y-O-Y %)
Table 5 Market Size By Application, 2017-2024 (USD Million)
Table 6 Cem: Market Size By Region, 2017-2024 (USD Million)
Table 7 Sales and Marketing Management: Market Size By Region, 2017-2024 (USD Million)
Table 8 Risk and Compliance Management: Market Size By Region, 2017-2024 (USD Million)
Table 9 Customer Service: Market Size By Region, 2017-2024 (USD Million)
Table 10 Others: Market Size By Region, 2017-2024 (USD Million)
Table 11 Customer Success Platforms Market Size, By Component, 2017-2024 (USD Million)
Table 12 Solution: Market Size By Region, 2017-2024 (USD Million)
Table 13 Services: Market Size By Type, 2017-2024 (USD Million)
Table 14 Services: Market Size By Region, 2017-2024 (USD Million)
Table 15 Professional Services Market Size, By Type, 2017-2024 (USD Million)
Table 16 Professional Services Market Size, By Region, 2017-2024 (USD Million)
Table 17 Support and Maintenance Services Market Size, By Region, 2017-2024 (USD Million)
Table 18 Consulting Services Market Size, By Region, 2017-2024 (USD Million)
Table 19 Managed Services Market Size, By Region, 2017-2024 (USD Million)
Table 20 Customer Success Platforms Market Size, By Deployment Model, 2017-2024 (USD Million)
Table 21 On-Premises: Market Size By Region, 2017-2024 (USD Million)
Table 22 Cloud: Market Size By Region, 2017-2024 (USD Million)
Table 23 Market Size By Organization Size, 2017-2024 (USD Million)
Table 24 SMEs: Market Size By Region, 2017-2024 (USD Million)
Table 25 Large Enterprises: Market Size By Region, 2017-2024 (USD Million)
Table 26 Customer Success Platforms Market Size, By Industry Vertical, 2017-2024 (USD Million)
Table 27 BFSI: Market Size By Region, 2017-2024 (USD Million)
Table 28 Retail and eCommerce: Market Size By Region, 2017-2024 (USD Million)
Table 29 Telecommunications and It: Market Size By Region, 2017-2024 (USD Million)
Table 30 Healthcare and Life Sciences: Market Size By Region, 2017-2024 (USD Million)
Table 31 Government and Public Sector: Market Size By Region, 2017-2024 (USD Million)
Table 32 Others: Market Size By Region, 2017-2024 (USD Million)
Table 33 Customer Success Platforms Market Size, By Region, 2017-2024 (USD Million)
Table 34 North America: Market Size By Component, 2017-2024 (USD Million)
Table 35 North America: Market Size By Service, 2017-2024 (USD Million)
Table 36 North America: Market Size By Professional Service, 2017-2024 (USD Million)
Table 37 North America: Market Size By Application, 2017-2024 (USD Million)
Table 38 North America: Market Size By Deployment Model, 2017-2024 (USD Million)
Table 39 North America: Market Size By Organization Size, 2017-2024 (USD Million)
Table 40 North America: Market Size By Industry Vertical, 2017-2024 (USD Million)
Table 41 North America: Market Size By Country, 2017-2024 (USD Million)
Table 42 Europe: Customer Success Platforms Market Size, By Component, 2017-2024 (USD Million)
Table 43 Europe: Market Size By Service, 2017-2024 (USD Million)
Table 44 Europe: Market Size By Professional Service, 2017-2024 (USD Million)
Table 45 Europe: Market Size By Application, 2017-2024 (USD Million)
Table 46 Europe: Market Size By Deployment Model, 2017-2024 (USD Million)
Table 47 Europe: Market Size By Organization Size, 2017-2024 (USD Million)
Table 48 Europe: Market Size By Industry Vertical, 2017-2024 (USD Million)
Table 49 Europe: Market Size By Country, 2017-2024 (USD Million)
Table 50 Asia Pacific: Customer Success Platforms Market Size, By Component, 2017-2024 (USD Million)
Table 51 Asia Pacific: Market Size By Service, 2017-2024 (USD Million)
Table 52 Asia Pacific: Market Size By Professional Service, 2017-2024 (USD Million)
Table 53 Asia Pacific: Market Size By Application, 2017-2024 (USD Million)
Table 54 Asia Pacific: Market Size By Deployment Model, 2017-2024 (USD Million)
Table 55 Asia Pacific: Market Size By Organization Size, 2017-2024 (USD Million)
Table 56 Asia Pacific: Market Size By Industry Vertical, 2017-2024 (USD Million)
Table 57 Asia Pacific: Market Size By Country, 2017-2024 (USD Million)
Table 58 Middle East and Africa: Customer Success Platforms Market Size, By Component, 2017-2024 (USD Million)
Table 59 Middle East and Africa: Market Size By Service, 2017-2024 (USD Million)
Table 60 Middle East and Africa: Market Size By Professional Service, 2017-2024 (USD Million)
Table 61 Middle East and Africa: Market Size By Application, 2017-2024 (USD Million)
Table 62 Middle East and Africa: Market Size By Deployment Model, 2017-2024 (USD Million)
Table 63 Middle East and Africa: Market Size By Organization Size, 2017-2024 (USD Million)
Table 64 Middle East and Africa: Market Size By Industry Vertical, 2017-2024 (USD Million)
Table 65 Middle East and Africa: Market Size By Sub-Region, 2017-2024 (USD Million)
Table 66 Latin America: Customer Success Platforms Market Size, By Component, 2017-2024 (USD Million)
Table 67 Latin America: Market Size By Service, 2017-2024 (USD Million)
Table 68 Latin America: Market Size By Professional Service, 2017-2024 (USD Million)
Table 69 Latin America: Market Size By Application, 2017-2024 (USD Million)
Table 70 Latin America: Market Size By Deployment Model, 2017-2024 (USD Million)
Table 71 Latin America: Market Size By Organization Size, 2017-2024 (USD Million)
Table 72 Latin America: Market Size By Industry Vertical, 2017-2024 (USD Million)
Table 73 Latin America: Market Size By Country, 2017-2024 (USD Million)

List of Figures (30 Figures)

Figure 1 Global Customer Success Platforms Market: Research Design
Figure 2 Market Estimation and Forecast Methodology
Figure 3 Market Overview
Figure 4 Market to Witness High Growth During the Forecast Period
Figure 5 Market By Component (2019 vs 2024)
Figure 6 Market By Deployment Model (2019-2024)
Figure 7 Advent of Cloud Computing and Demand for Advanced Solutions to Monitor Customer Success and Reduce Churn Driving the Customer Success Platforms Market
Figure 8 Market By Application (2019-2024)
Figure 9 Market By Organization Size (2019-2024)
Figure 10 North America to Account for the Highest Market Share in 2019
Figure 11 Drivers, Restraints, Opportunities, and Challenges: Customer Success Platforms Market
Figure 12 Customer Success Process
Figure 13 Customer Service Segment to Grow at the Highest CAGR During the Forecast Period
Figure 14 Services Segment to Grow at A Higher CAGR During the Forecast Period
Figure 15 Managed Services Segment to Grow at A Higher CAGR During the Forecast Period
Figure 16 Consulting Services Segment to Grow at A Higher CAGR During the Forecast Period
Figure 17 Cloud Deployment Model to Grow at A Higher CAGR During the Forecast Period
Figure 18 Small and Medium-Sized Enterprises Segment to Grow at A Higher CAGR During the Forecast Period
Figure 19 Retail and eCommerce Industry Vertical to Grow at the Highest CAGR During the Forecast Period
Figure 20 Asia Pacific to Grow at the Highest CAGR During the Forecast Period
Figure 21 North America: Market Snapshot
Figure 22 Asia Pacific: Market Snapshot
Figure 23 Customer Success Platforms Market, Competitive Leadership Mapping, Startup Companies, 2019
Figure 24 Ranking of Key Players in the Customer Success Platforms Market, 2019
Figure 25 Gainsight: SWOT Analysis
Figure 26 Salesforce: Company Snapshot
Figure 27 Salesforce: SWOT Analysis
Figure 28 Natero: SWOT Analysis
Figure 29 Totango: SWOT Analysis
Figure 30 Amity: SWOT Analysis

Note: Product cover images may vary from those shown
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  • Akita
  • Amity
  • AppsForOps
  • Armatic Technologies
  • Bolstra
  • Catalyst
  • Churnzero
  • Clientshare
  • ClientSuccess
  • CustomerSuccessBox
  • Gainsight
  • Komiko
  • Natero
  • Planhat
  • Salesforce
  • Salesmachine
  • Strikedeck
  • Totango
  • UserIQ
  • Wootric
Note: Product cover images may vary from those shown
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