Global Customer Experience Management Industry 2020-2025 with COVID-19 Pandemic-Driven Market Dynamics & Factor Analysis and Use Cases - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Customer Experience Management Market by Component (Solutions, Services) Touchpoint, Deployment Type, Organization Size, Vertical (IT and Telecom, BFSI, Retail, Healthcare, Media and Entertainment), and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The global customer experience management market is projected to grow from USD 8,556 million in 2020 to USD 14,954 million by 2025, at a CAGR of 11.8%, from 2020 to 2025.

Increasing necessity to improve customer engagement and reduce customer churn rate due to growing competition to drive the market for customer experience management

The increasing need for improving customer engagement and reducing customer churn rates due to growing competition has led organizations to deploy advanced customer experience solutions. However, Difficulty in getting consistent CX feedback through all channels, and data security and privacy concerns are considered to pose challenges to the growth of the customer experience management market.

By component, the solutions segment to account for a larger market share during the forecast period

Based on component, the solutions segment is expected to hold a larger market share than the services segment during the forecast period. Organizations are deploying customer experience management solutions to empower customers with highly connected personalized experiences across a wide range of websites, stores, call centers, mobile apps, social media, emails, virtual assistants, and other touchpoints. Customer queries are also expected to be resolved through automatic response processes, through solutions wherein the customers receive real-time feedback of the queries.

By services, the managed services segment to account for a larger market share during the forecast period

Based on services, the managed services segment is expected to hold a larger market size than the professional services segment during the forecast period due to the growing demand for the management of customer experience management operations on-premises as well as on the cloud. The prime responsibility of the managed service providers is to improve the efficiency of inbound and outbound operations cost-effectively for enterprises.

Among regions, APAC to grow at the highest CAGR during the forecast period

The market in APAC is projected to grow at the highest CAGR during the forecast period, due to the widespread adoption of emerging technologies, such as cloud computing, AI, and analytics. The presence of growing economies such as China and India which are rapidly implementing the latest technologies has also contributed to the growth of the customer experience management market in the region.

Key Topics Covered

1 Introduction

1.1 Introduction to COVID-19

1.2 COVID-19 Health Assessment

1.3 COVID-19 Economic Assessment

1.4 Objectives of the Study

1.5 Market Definition

1.6 Market Scope

1.7 Currency

1.8 Stakeholders

2 Research Methodology

3 Executive Summary

4 Premium Insights

4.1 Attractive Opportunities in the Customer Experience Management Market

4.2 Asia-Pacific Market, by Component and Country

4.3 Market: Major Countries

5 Market Overview and Industry Trends

5.1 Introduction

5.2 Market Dynamics

5.2.1 Drivers

5.2.1.1 Need for Better Understanding Customers Increasing the Demand for CEM Solutions

5.2.1.2 Customer-Related Scores Helping Organizations to Plan Better Customer Engagement Strategy

5.2.1.3 CEM Solutions Help in Reducing Customer Churn Rates

5.2.1.4 CEM Solutions Help in Keeping Customer Engagement Through Omnichannel

5.2.2 Restraints

5.2.2.1 Data Synchronization Complexities

5.2.3 Opportunities

5.2.3.1 Need for Insights to Predict Customer Intents

5.2.3.2 Information Extracted from CEM Solutions Can Be Used to Make Optimal CX Strategy

5.2.4 Challenges

5.2.4.1 Difficulty in Getting Consistent CX Feedback Through All Channels

5.2.4.2 Difficulty in Synchronizing CX Data Collected from Different Touchpoints Within Different Domains

5.2.4.3 Data Security and Privacy Issues

5.3 COVID-19 Pandemic-Driven Market Dynamics and Factor Analysis

5.3.1 Drivers and Opportunities

5.3.2 Restraints and Challenges

5.4 Industry Trends

5.4.1 Use Cases

5.4.1.1 Use Case 1: Icici Bank Transforms Its CX With Genesys

5.4.1.2 Use Case 2: Safaricom Uses Nokia Customer Experience Management on Demand

5.4.1.3 Use Case 3: Schwan's Company Uses Oracle Cross-Channel Marketing

5.4.1.4 Use Case 4: Opentext and Livesite's Solutions Help in Delivering Information According to Its Members' Need

6 Customer Experience Management Market, by Component

6.1 Introduction

6.2 Solutions

6.3 Services

7 Customer Experience Management Market, by Touchpoint

7.1 Introduction

7.2 Website

7.3 Store

7.4 Call Center

7.5 Mobile App

7.6 Social Media

7.7 Email

7.8 Virtual Assistant

7.9 Others

8 Customer Experience Management Market, by Deployment Type

8.1 Introduction

8.2 On-Premises

8.3 Cloud

9 Customer Experience Management Market, by Organization Size

9.1 Introduction

9.2 Large Enterprises

9.3 Small and Medium-Sized Enterprises

10 Customer Experience Management Market, by Vertical

10.1 Introduction

10.2 IT and Telecom

10.3 BFSI

10.4 Retail

10.5 Healthcare

10.6 Automotive

10.7 Travel & Hospitality

10.8 Media & Entertainment

10.9 Public Sector

10.10 Others

11 Customer Experience Management Market, by Region

11.1 Introduction

11.2 North America

11.3 Europe

11.4 Asia-Pacific

11.5 Middle East & Africa

11.6 Latin America

12 Competitive Landscape

12.1 Competitive Leadership Mapping

12.1.1 Visionary Leaders

12.1.2 Innovators

12.1.3 Dynamic Differentiators

12.1.4 Emerging Companies

12.2 Strength of Product Portfolio

12.3 Business Strategy Excellence

12.4 Competitive Leadership Mapping (Start-Up/SMEs)

12.4.1 Progressive Companies

12.4.2 Starting Blocks

12.4.3 Responsive Companies

12.4.4 Dynamic Companies

12.5 Market Ranking for the Market, 2020

13 Company Profiles

13.1 Adobe

13.2 IBM

13.3 Oracle

13.4 Avaya

13.5 Nice

13.6 Nokia

13.7 SAP

13.8 Opentext

13.9 Tech Mahindra

13.10 Verint Systems

13.11 Zendesk

13.12 SDL

13.13 Teradata

13.14 Sprinklr

13.15 Medallia

13.16 Inmoment

13.17 SAS Institute

13.18 Clarabridge

13.19 Sitecore

13.20 NGdata

13.21 Amperity

13.22 Manthan

13.23 Mixpanel

13.24 Segment.io

13.25 Zephyrtel

13.26 Mindtouch

For more information about this report visit https://www.researchandmarkets.com/r/37opgr