According to the latest report by IMARC Group, titled "Global Customer Experience Management software Market Size, Share, Industry Trends, Growth, Opportunity and Forecast 2022-2027", The global customer experience management software market reached a value of US$ 9,768.0 Million in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 23,431.8 Million by 2027 exhibiting a CAGR of 14.10% during 2022-2027.
Customer experience management (CEM) software refers to a computer-based solution used by companies to track and monitor customer reactions. It also assists in gaining valuable feedback using which organizations can take needful actions to improve customer engagement with their brand. Owing to these benefits and rapid digitization across the globe, CEM software finds extensive applications in retail, healthcare, media and entertainment (M&E), and banking, financial services and insurance (BFSI) sectors.
Base Year: 2021
Forecast Year: 2022-2027
Customer Experience Management Software Market Trends and Drivers:
The increasing adoption of a consumer-centric approach by brands due to the rising competition is one of the key factors driving the market growth. Besides this, various technological advancements and the integration of advanced analytics and cloud computing with CEM software are also escalating the product demand.
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Moreover, the growing consumer interaction with multiple platforms like mobile apps, websites, and chats, has increased the need to collect customer reviews on a unified platform. As a result, CEM software is widely utilized to determine and cater to the needs of the customers, which is positively influencing the market growth.
Furthermore, the increasing investments from venture capitalists, rising mergers and acquisitions (M&A), and the growing digital customer interactions are some of the other factors creating a positive market outlook across the globe.
Note: We are
regularly tracking the direct effect of COVID-19 on the market, along with the
indirect influence of associated industries. These observations will be
integrated into the report.
Global Customer Experience Management Software Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Avaya Inc., Clarabridge (Qualtrics International), International Business
Machines Corporation, Medallia Inc., NICE Ltd., Oracle Corporation,
Salesforce.com Inc., SAP SE, SAS Institute Inc., Tech Mahindra Limited, Verint
Systems Inc. and Zendesk.
The report has segmented the market on the basis of region, component, touchpoint, deployment mode, organization size and industries.
Breakup by Component:
Breakup by Touchpoint:
· Call Centers
· Social Media Platform
· Web Services
Breakup by Deployment Mode:
Breakup by Organization Size:
· Large Enterprises
· Small and Medium-sized Enterprises
Breakup by Industries:
· IT and Telecommunication
· Media and Entertainment
· Government Sector
Breakup by Region:
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Key highlights of the report:
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