The MarketWatch News Department was not involved in the creation of this content.
Feb 04, 2021 (The Expresswire) —
The globalcustomer experience management marketsize is projected to reach USD 21.86 billion by 2027, exhibiting a CAGR of 13.0% during the forecast period. The heightened importance of enhancing customer experience (CX) amid the COVID-19 pandemic will accelerate the growth of this market, shares Fortune Business Insights™ in its report, titled “Customer Experience Management Market Size, Share and COVID-19 Impact Analysis, By Component (Solution, Services), By Deployment (Cloud, On-Premise), By Organization Size (SMEs, Large Enterprises), By Touchpoint (Call Center, Website, Mobile Applications, Email, Social Media, and Others), By End-User (BFSI, Rental and Consumer Goods, IT and Telecom, Healthcare, Automotive, Media and Entertainment, Government, and Others), and Regional Forecast, 2020-2027”. With millions of people worldwide confined to their homes, brands are aggressively looking for avenues to maintain visibility among their customers and cater to their changing needs. The unusual circumstances created by the coronavirus have forced companies to engage customers in a more meaningful way. For example, the cable provider Comcast deepened its customer experience management by developing short, topical videos powered by an interactive experience for its Xfinity cable service during the pandemic. In China, a restaurant chain started delivering ingredients for meals usually enjoyed in communal settings at people’s doorsteps, ensuring no physical contact and strengthening its relationship with loyal customers. The variety of novel ideas triggered amid the COVID-19 pandemic enabled the market to register an impressive CAGR of 11.7% in 2020.
Click here to get the short-term and long-term impact of COVID-19 on this market:https://www.fortunebusinessinsights.com/industry-reports/customer-experience-management-cem-market-101661
According to the report, the value of the market was estimated to be USD 8.29 billion in 2019. Besides this, the report also offers the following:
- Microscopic analysis on the market size and share and the factors influencing them;
- Quantitative and qualitative evaluation of the different market segments;
- Actionable insights into the regional developments in the market; and
- Granular examination of the key players’ profiles and strategies
Constant Threat of Data Breaches to Limit CEM Adoption
The proliferation of smartphones, mobile applications, and other smart devices has triggered a massive digitization trend among businesses. Enhancing CEM through virtual platforms and online portals has become one of the core strategies adopted by companies to foster long-lasting relationships with their customers. However, with private customer information being available online in most cases, the threat of data breaches has escalated in recent years. Hackers are targeting digital platforms to extract critical data and sell them on the black market. For example, in April 2020, over 500,000 accounts on the teleconferencing platform Zoom were breached and then sold on the dark web by cyber-criminals. Similarly, in India in January 2020, Unacademy, the popular online education platform, experienced a massive data breach, exposing more than 20 million accounts containing customer information related to email addresses, payment history, passwords, and usernames. The constant exposure of delicate information to cyber-attacks may inhibit the customer experience management market growth.
Request a Sample Copy of the Global Market Research Report:https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/customer-experience-management-cem-market-101661
North America to Lead the Charge Supported by Rapid Transformation of Businesses
In 2019, the North America market size stood at USD 2.81 billion, and the region is expected to lead the market during the forecast period due to the speedy digital transformation of businesses in the region. CXM companies across the US and Canada are actively adopting and deploying customer experience management solutions powered by advanced technologies such as artificial intelligence (AI) and machine learning (ML). Thus, the market in North America is foreseen to progress at an incredible pace.
Asia Pacific is strengthening its hold on the customer experience management market share as a result of the broadening presence of AI and the Internet of Things (IoT) among enterprises in India and China. In Europe, on the other hand, the increasing number of call centers is expected to propel the regional market.
Introduction of Game-Changing CX Solutions to Create an Intense Competitive Milieu
Key players in the CEM market are directing their energies towards developing and introducing breakthrough products to tighten client-business relationships. The launch of such solutions is allowing companies to entrench their position in regional and global markets and attract new customers with diversified portfolios.
Order Complete Reporthttps://www.fortunebusinessinsights.com/checkout-page/101661
1. By Component
2. By Deployment
3. By Organization Size
4. By Touchpoint
- Social Media
5. By End-User
- IT and Telecommunications
- Travel and Transportation
- Others (Media and Entertainment, Public Sector)
6. By Region
- North America (U.S. and Canada)
- Europe (U.K., Germany, France, Italy, Spain, and Rest of Europe)
- Asia Pacific (China, Japan, India, Southeast Asia, and Rest of Asia Pacific)
- Middle East and Africa (South Africa, GCC and Rest of the Middle East and Africa)
- Latin America (Brazil, Mexico, and Rest of Latin America)
- December 2020:Genesys released its next-generation business unit focused on augmented customer engagement, Genesys Digital. The unit will provide solutions to companies to meet customers’ constantly evolving demands and preferences in the digital landscape.
- August 2020:Pointillist announced that it is now available on the Genesys AppFoundry, a platform dedicated to customer experience management solutions. Being on AppFoundry will enable Pointillist to rapidly deploy a wide range of mechanisms to improve interaction with its customers and engage employees.
Request for customizationhttps://www.fortunebusinessinsights.com/enquiry/customization/customer-experience-management-cem-market-101661
List of Key Companies Profiled in this Market Report:
- Genesys Telecommunications Laboratories, Inc. (California, United States)
- MindTouch, Inc. (California, United States)
- io, Inc. (California, United States)
- Amperity (Washington, United States)
- InMoment (Utah, United States)
- Sprinklr (New York, United States)
- Nokia Corporation (Espoo, Finland)
- Medallia, Inc. (California, United States)
- Sitecore (California, United States)
- Open Text Corporation (Waterloo, Canada)
- Verint Systems (New York, United States)
- IBM Corporation (New York, United States)
- Oracle Corporation (California, United States)
- Pointillist (Massachusetts, United States)
- ZephyrTel, Inc. (Texas, United States)
- Mixpanel (California, United States)
- NGDATA (Ghent, Belgium)
- SAS Institute (North Carolina, United States)
- Teradata Corporation (California, United States)
- MaritzCX Research LLC (Utah, United States)
- Clarabridge (Virginia, United States)
- Zendesk Inc. (California, United States)
- Tech Mahindra (Maharashtra, India)
- Avaya Inc. (North Carolina, United States)
- SAP SE (Walldorf, Germany)
- Adobe Inc. (California, United States)
Speak To Our Analyst-https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/customer-experience-management-cem-market-101661
Major Table of Content:
- Definition, By Segment
- Research Methodology/Approach
- Data Sources
- Key Takeaways
- Macro and Micro Economic Indicators
- Drivers, Restraints, Opportunities and Trends
Impact of COVID-19
- Short-term Impact
- Long-term Impact
- Business Strategies Adopted by Key Players
- Consolidated SWOT Analysis of Key Players
- PESTLE Analysis
- Porter’s Five Force Analysis
- Supply chain Analysis
- Global Customer Experience Management Key Players Market Share Insights and Analysis, 2019
- Key Market Insights and Strategic Recommendations
- Primary Interviewee’s Key Responses
Companies Profiled(Covered for key 10 players only)
- Key Management
- Headquarters etc.
- Offerings/Business Segments
Key Details(Key details are subjected to data availability in public domain and/or on paid databases)
- Employee Size
- Past and Current Revenue
- Gross Margin
- Geographical Share
- Business Segment Share
- Recent Developments
Global Customer Experience Management Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2016-2027
By Component (Value)
- Professional Services
- Managed Services
- By Deployment (Value)
- By Organization Size (Value)
By Touchpoint (Value)
- Call Center
- Mobile Applications
- Social Media
- Others (Virtual Assistants, Loyalty Programs, Etc.)
By End-User (Value)
- Rental and Consumer Goods
- IT and Telecom
- Media and Entertainment
- Others (Oil and Gas, Education, Etc.)
By Region (Value)
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
- By Component (Value)
- Global Customer Experience Management Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2016-2027
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
Click here to get the short-term and long-term impact of COVID-19 on this Market.
(Have a Look at Reports Trending in “Information and Technology” Industry)
View Related Reports:
Construction Equipment Market will be valued at USD 186.42 Bn by 2026
Encryption Software Market to Reach $24.94 Billion by 2027; Partnership Agreement between Saudi Telecom Company (STC) and Thales Group to Favor Market
Human Capital Management Market to Soar at 9.4% CAGR from 2019 to 2026, Emergence of Artificial Intelligence and Machine Learning to Stoke Demand
Oil Country Tubular Goods Market To Reach USD 31.54 Billion By 2026; Increasing Rate of Drilling Activities Worldwide to Favor Market Growth
Smart Door Lock Market to Reach $4,449.2 Million by 2027; Initiatives by Governments and Companies to Surge Sales amid COVID-19 to Aid Growth
Water Chiller Market to Reach USD 7.13 Billion by 2026; Rising Consumption of Frozen Food to Propel Growth
Industrial Mezzanines Market Strength, Major Type, Key Application And Leading Companies Forecast Till 2026
Carbon Capture and Sequestration Market Size, Share, Global Trends, Major Key Players and Geographical Forecast Till 2026
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
At Fortune Business Insights™ we aim at highlighting the most lucrative growth opportunities for our clients. We therefore offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.
Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune – 411045, Maharashtra, India.
US: +1 424 253 0390
UK: +44 2071 939123
APAC: +91 744 740 1245
Email: [email protected]
Fortune Business Insights™
LinkedIn | Twitter | Blogs
Press Release Distributed by The Express Wire
To view the original version on The Express Wire visit Customer Experience Management Market Size, Share And Development By 2026 | Fortune Business Insights
Is there a problem with this press release? Contact the source provider Comtex at [email protected]. You can also contact MarketWatch Customer Service via our Customer Center.
The MarketWatch News Department was not involved in the creation of this content.
An Action Plan For Embracing Change
PKR edges lower by 5 paisa against greenback
Balancing paid and organic search strategies for optimum success