February 27, 2020
Customer Experience Management

Customer Experience Management Market: Asia Pacific is projected to grow significantly during the forecast period

The customer experience management market is set to grow by 14 per cent over the forecast period, up from US$ 6.80 billion in 2018.

The global customer experience management market is driven by the increasing adoption of big data technologies among the enterprises. Over the last five years, there has been a significant increase in the adoption of Big Data technologies across companies. Enterprises are leveraging advanced data analytics technologies to analyze large amounts of data and to derive actionable insights. This tool helps firms to understand customer behaviour and requirements and recommends an actionable plan to meet these requirements. This is driving the growth of the market for customer experience management.

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Moreover, the enterprises are adopting wide array of new technologies to enable active customer engagement. To engage customers, organizations adopt tools to understand their preferences, aggregate content, tracking activities. This helps companies provide the customer with a personalized experience and serves the relevant content and product to their customers.

Retail sector is one of the prominent end-users of the customer experience management market. The emergence of e-commerce is the primary driver of the adoption of customer engagement solutions in the retail sector. As the adoption of Internet service worldwide is increasing, customers are becoming more empowered. Customers can now choose from a wide range of options available to them. In order to gain customer loyalty, retailers are therefore focusing on providing their users with the personalized shopping experience. Retail companies use customer behaviour analytics software to analyze and meet the customer’s requirements. This is driving the growth of the market for customer experience in the retail sector.

Key vendors in the customer experience management market are Adobe Systems Inc., Avaya Inc., Cisco Systems, Inc., Huawei Corporation, IBM Corporation, OpenText Corporation, Oracle Corporation, Qualtrics, SAS Institute Inc., Software AG, TATA Consultancy Service Limited, Tech Mahindra Limited, and Zendesk, Inc.

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Analytical tools Segment (2017–2027; US$ Bn)
• Web analytics
• Enterprise Feedback Management (EFM) Software
• Text Analytics
• Speech Analytics
• Others

Touch Point Segment (2017–2027; US$ Bn)
• Call Centers
• Email
• Mobile
• Social Media
• Stores/ Branch
• Web services
• Others

Deployment Segment (2017–2027; US$ Bn)
• On-premise
• Cloud

Application Segment (2017–2027; US$ Bn)
• Retail
• Government
• Healthcare
• IT & Telecom
• Manufacturing
• Media & entertainment
• Others

Key questions answered in this report

  • What was the market size of Customer experience management in 2018 and forecast up to 2027?
  • Which is the largest regional market for Customer experience managements?
  • What are the major trends followed in Customer experience management market across different regions?
  • Who are the key companies in the Customer experience managements market?
  • What are the key strategies adopted by the leading Customer experience management companies in market?

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David Brown

David Brown

Experienced Market Research Analyst with a demonstrated history of working in the market research industry. Skilled in Secondary Market Research, Primary Market Research, Client Interfacing. - Identify, collect and organize data for use in research projects - Provide fundamental analysis for research projects - Review data to ensure its quality and integrity - Market estimates and forecast based on homegrown forecasting models - Identifying potential titles for syndicated research projects - Analyzing, estimating and forecasting various industry/market using various analysis tools and forecasting models - Conducting secondary research - Company profiling and analyzing competitive landscape - Report writing And Quality check

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