Customer Experience Management (CEM) Market 2019-2025

Customer Experience Management (CEM) Market Size, Share & Trends Analysis Report by Deployment (On-Premise and On-Demand), by End-Use (Telecom & IT, Energy and Utilities, Manufacturing, Healthcare, BFSI and Other) and Forecast, 2019-2025.

The growing importance of customer experience as a part of company strategy has led to the increased adoption of customer experience management solutions. Customer experience management is the collection of processes that an organization employs to manage customer interactions across the enterprise. Customer experience management offers organizations to provide appropriate solutions to customers in order to maintain customer loyalty. Customer experience management solutions help organizations to enhance their productivity by analyzing customer behavior, personalized insights, purchasing patterns, and the overall experience. Various touchpoints are used in order to enable interaction between customers with a business. Touchpoints including store/branch, call center, social media, e-mail, mobile, and web services are commonly used. To provide more enhanced customer experience, the companies are adopting the use of contact centers to provide quick response and personalized attention for the customer problems.

Moreover, increasing adoption of customer experience management software across IT & telecom industry to address customer complaints and provide impeccable experience across various integrated channels tends to increase the market share of customer experience management. Furthermore, to gain a competitive edge over various competitors operating in the marketplace, many organizations have adopted the use of customer experience management software and to retain the existing customer. This has led to an increase in the growth of the consumer experience management market. However, various industry vertical is lacking resources to implement customer experience management solutions and formulate strategies for the proper use CEM may restrain the growth of the market.

The customer experience management market is segmented based on deployment and end-user. Based on the deployment, the customer experience management on-premise, and on-demand deployment. Based on end-user, the market is segmented into telecom & IT, energy & utilities, manufacturing, healthcare, BFSI and other. IT & telecom segment is expected to register significant growth over the forecast period owing to the increasing complexity in the IT & telecom sector possesses a challenge in terms of increasing sales. Thus, adoption of CEM solution may provide the organization the personalized insights about the customer and helps in providing the appropriate solution.

Geographically, the market is further segmented on the basis of major regions, such as North America, Europe, Asia-Pacific and Rest of the world (RoW). Asia-Pacific region is expected to register a considerable growth rate over the forecast period owing to the increasing number of call centers across the region. Moreover, increasing penetration of cloud computing among various industry verticals to integrate consumer experience management system due to the flexibility and scalability provided by the cloud-based solutions can surge the demand for the market.

Some of the major players in the field of customer experience management market are Adobe System Inc., Avaya, Inc., CA Technologies, Inc., NICE Systems, Inc., Chime Technologies Inc, Clarabridge, Freshworks Inc., IBM Corp., Nokia Networks, Oracle Corp., Qualtrics, SAP SE, Tech Mahindra, Ltd., and others. These companies are adopting several strategies, such as merger and acquisitions, touchpoint type launches, geographical expansion and collaboration, and partnership to expand market share across the globe. For instance, in March 2019, Adobe System Inc. has entered into a partnership with ServiceNow, American Cloud computing company, to provide digital workflows and personalized customer experience across all touchpoints.

Research Methodology

The market study of the customer experience management market is incorporated by extensive primary and secondary research. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity in our reports.

Secondary Sources Include:

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their catalog.

The report is intended for telecom & IT, financial and healthcare industry for overall market analysis and competitive analysis. The report provides in-depth analysis on market size, intended quality of the service preferred by consumers. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation:
1. Global Customer Experience Management Market Research and Analysis by Deployment
2. Global Customer Experience Management Market Research and Analysis by End-User

The Report Covers:

• Comprehensive research methodology of the customer experience management market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the customer experience management market.
• Insights about market determinants which are stimulating the customer experience management market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.