Customer Experience Management Market by Component (Solutions, Services) Touchpoint, Deployment Type, Vertical (IT & Telecom, BFSI, Retail, Healthcare, Media & Entertainment, Automotive, Travel & Hospitality), and Region - Global Forecast to 2024

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Date: 20-May-2019
No. of pages: 151
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Increasing necessity to improve customer engagement and reduce customer churn rate due to growing competition to drive the market for customer experience management

The customer experience management market is projected to grow from USD 7.8 billion in 2019 to USD 14.5 billion by 2024, at a CAGR of 13.3% from 2019 to 2024.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, reluctance to transit from traditional to modern solutions, and data security mandates 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 touch points. 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 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 latest technologies has also contributed to the growth of the customer experience management market in the region.

In-depth interviews were conducted with chief executive officers, marketing directors, innovation and technology directors, and executives from various key organizations operating in the customer experience management market.

The breakup of the profiles of the primary participants is given below:


  • By Company Type: Tier 1 – 35%, Tier 2 – 40%, and Tier 3 – 25%

  • By Designation: C-Level – 30%, Director Level – 35%, Managers–35%

  • By Region: North America – 40%, Europe – 30%, APAC – 20%, and RoW–10%


The following key customer experience management vendors are profiled in the report:


  • Adobe Systems (US)

  • Avaya Inc. (US)

  • Clarabridge (US)

  • IBM (US)

  • InMoment (US)

  • Medallia (US)

  • MaritzCX (US)

  • NICE Systems (Israel)

  • Nokia (Finland)

  • OpenText (Canada)

  • Oracle Corporation (US)

  • Tech Mahindra (India)

  • Verint Systems (US)

  • SDL (UK)

  • SAP (Germany)

  • SAS Institute (US)

  • Sitecore (US)

  • Zendesk (US)


Research Coverage

Customer experience management market by component (solutions and services), deployment type (on-premises and cloud), vertical, and region. A detailed analysis of the key industry players has been undertaken to provide insights into their business overviews; services; key strategies; new service launches; partnerships, agreements, and collaborations; business expansions; and competitive landscape associated with the customer experience management market.

Reasons to Buy the Report

The report would help the market leaders/new entrants in the following ways:


  • It comprehensively segments the customer experience management market and provides the closest approximations of the revenue numbers for the overall market and its sub segments across different regions.

  • It would help stakeholders understand the pulse of the market and provide information on the key market drivers, restraints, challenges, and opportunities.

  • It would help stakeholders understand their competitors better and gain more insights to enhance their positions in the market. The competitive landscape section includes competitor ecosystem, new service developments, partnerships, and acquisitions.

Customer Experience Management Market by Component (Solutions, Services) Touchpoint, Deployment Type, Vertical (IT & Telecom, BFSI, Retail, Healthcare, Media & Entertainment, Automotive, Travel & Hospitality), and Region - Global Forecast to 2024

Table of Contents

1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.3.1 Market Segmentation
1.3.2 Regional Scope
1.4 Years Considered for the Study
1.5 Currency
1.6 Stakeholders

2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.2 Primary Data
2.1.2.1 Breakup of Primaries
2.1.2.2 Key Industry Insights
2.2 Market Breakup and Data Triangulation
2.3 Market Size Estimation
2.3.1 Top-Down Approach
2.3.2 Bottom-Up Approach
2.4 Market Forecast
2.5 Research Assumptions
2.6 Limitations

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 Evolution
5.3 Market Dynamics
5.3.1 Drivers
5.3.1.1 Need for Better Understanding Customers Increasing the Demand for Customer Experience Management Solutions
5.3.1.2 Customer-Related Scores Helping Organizations to Plan Better Customer Engagement Strategy
5.3.1.3 Customer Experience Management Solutions Help in Reducing Customer Churn Rates
5.3.2 Restraints
5.3.2.1 Difficulty in Synchronizing Customer Experience Data Collected From Different Touchpoints Within Different Domains
5.3.3 Opportunities
5.3.3.1 Customer Experience Solutions Help in Keeping Customer Engagement Through Omnichannel
5.3.3.2 Information Extracted From Customer Experience Solutions Can Be Used to Make Optimal Customer Experience Strategy
5.3.4 Challenges
5.3.4.1 Difficulty in Getting Consistent Customer Experience Feedback Through All Channels
5.3.4.2 Difficulty in Consolidating Data of Customer in A Single Customer View
5.4 Use Cases
5.4.1 Use Case 1: Icici Bank Transforms Its Customer Experience With Genesys
5.4.2 Use Case 2: Safaricom Uses Nokia Customer Experience Management on Demand
5.4.3 Use Case 3: Schwan’s Company Uses Oracle Cross-Channel Marketing
5.4.4 Use Case 4: OpenText and Livesite’s Solutions Help in Delivering Information According to Its Members’ Need and When They Need It

6 Customer Experience Management Market By Component
6.1 Introduction
6.2 Solutions
6.2.1 Omni-Channel
6.2.1.1 Omni-Channel Provides Seamless Experience Across Multiple Channels
6.2.2 Machine Learning
6.2.2.1 Machine Learning Solution Learns From Prior Experiences of Customer Touchpoints to Enrich the Current and Future Interactions of Customers
6.2.3 Analytics
6.2.3.1 Analytics Allow Organizations to Use Artificial Intelligence on the Feedback of Customers and Helps the Organizations to Offer Tailored Solutions
6.2.4 Workforce Optimization
6.2.4.1 The Workforce Optimization Software Helps Optimize Agents’ Performance and Boosts the Productivity of the Organizations
6.3 Services
6.3.1 Professional Services
6.3.1.1 Consulting Services
6.3.1.1.1 Consulting Services Help Eliminate Complexities and Reintegrate Functions in A Simplified Environment By Meeting Clients’ Business Needs
6.3.1.2 Support & Maintenance Services
6.3.1.2.1 Support & Maintenance Services Help in Ensuring the Overall Development of the Customer Experience Management Solutions
6.3.1.3 Training
6.3.1.3.1 Training is Required to Ensure Cx Solutions Work at Their Optimum Performance Levels
6.3.2 Managed Services
6.3.2.1 Managed Service Providers Handle End-To-End Deployment and After Sales Services for the Solutions.

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
8.2.1 Data Security and Maintenance to Sustain the Growth of On-Premises Customer Experience Solutions Deployment
8.3 Cloud
8.3.1 Performance and Cost Efficiency to Increase Cloud Deployments of Customer Experience Management Solutions

9 Customer Experience Management Market By Vertical
9.1 Introduction
9.2 IT and Telecom
9.2.1 Intense Competition to Drive Growth of Customer Experience Market in the IT and Telecom Sector
9.3 BFSI
9.3.1 Growing Digital Mobility to Drive Growth of Customer Experience Market in the BFSI Sector
9.4 Retail
9.4.1 Changing Consumer Behavior to Drive Growth of Customer Experience Market in the Retail Sector
9.5 Healthcare
9.5.1 Improvement of Patient Experience to Drive Growth of Customer Experience Market in the Healthcare Sector
9.6 Automotive
9.6.1 Technological Innovations to Drive Growth of Customer Experience Market in the Automotive Sector
9.7 Travel and Hospitality
9.7.1 Growing Demand for Customer Engagement Services to Drive Growth of Customer Experience Market in the Travel and Hospitality Sector
9.8 Media and Entertainment
9.8.1 Increasing Digitization of Services to Drive Growth of Customer Experience Market in the Media and Entertainment Sector
9.9 Public Sector
9.9.1 Increasing Customer Expectation for Improved Services to Drive Growth of Customer Experience Market in the Public Sector
9.1 Others

10 Customer Experience Management Market By Region
10.1 Introduction
10.2 North America
10.2.1 US
10.2.1.1 Rapid Adoption of Advanced Technologies Such as Cloud Computing, Ai, and Data Analytics to Drive the Growth of the US Customer Experience Management Market
10.2.2 Canada
10.2.2.1 Rising Customer Expectations to Drive the Growth of the Market in Canada
10.3 Europe
10.3.1 UK
10.3.1.1 Growing Digital Transformation to Drive the Market in the UK
10.3.2 Germany
10.3.2.1 Increase in Digital Mobility and Digital Spending to Drive the Growth of the Market in Germany
10.3.3 France
10.3.3.1 Increasing Digital Transformation to Drive the Growth of the Market in France
10.3.4 Rest of Europe
10.4 Asia Pacific
10.4.1 Australia & New Zealand
10.4.1.1 Rapid Technological Adoption to Drive the Growth of Customer Experience in Australia and New Zealand
10.4.2 India
10.4.2.1 Growing Adoption of Customer-Centric Strategies By Businesses to Drive the Growth of the Market in India
10.4.3 China
10.4.3.1 Increasing Adoption of Customer Experience Offerings in Various Sectors to Drive Market Growth in China
10.4.4 Rest of Asia Pacific
10.5 Latin America
10.5.1 Brazil
10.5.1.1 Growing Adoption of Cloud Computing to Drive the Growth of the Market in Brazil
10.5.2 Mexico
10.5.2.1 Rapid Digital Transformation to Drive the Growth of the Market in Mexico
10.5.3 Rest of Latin America
10.6 Middle East & Africa
10.6.1 UAE
10.6.1.1 Adoption of Latest Technologies to Drive the Growth of the Market in the UAE
10.6.2 Saudi Arabia
10.6.2.1 Adoption of Cloud Computing to Drive the Growth of the Market in Saudi Arabia
10.6.3 South Africa
10.6.3.1 Strategic Implementation of Customer Experience By Businesses to Drive the Growth of the Market in South Africa
10.6.4 Rest of Middle East & Africa

11 Competitive Landscape
11.1 Competitive Leadership Mapping
11.1.1 Visionary Leaders
11.1.2 Innovators
11.1.3 Dynamic Differentiators
11.1.4 Emerging Companies
11.2 Strength of Product Portfolio
11.3 Business Strategy Excellence
11.4 Competitive Leadership Mapping (Start-Up/SMES)
11.4.1 Progressive Companies
11.4.2 Starting Blocks
11.4.3 Responsive Companies
11.4.4 Dynamic Companies
11.5 Market Ranking for the Customer Experience Management Market, 2018

12 Company Profiles
(Business Overview, Products & Solutions, Key Insights, Recent Developments, SWOT Analysis, MnM View)*
12.1 Adobe Systems
12.2 IBM
12.3 Oracle Corporation
12.4 Avaya Inc.
12.5 NICE Systems
12.6 Nokia
12.7 SAP
12.8 OpenText
12.9 Tech Mahindra
12.10 Verint Systems
12.11 Zendesk
12.12 SDL
12.13 MaritzCX
12.14 Medallia
12.15 InMoment
12.16 SAS Institute
12.17 Clarabridge
12.18 Sitecore

*Details on Business Overview, Products & Solutions, Key Insights, Recent Developments, SWOT Analysis, MnM View Might Not Be Captured in Case of Unlisted Companies.

13 Appendix
13.1 Industry Excerpts
13.2 Discussion Guide
13.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
13.4 Available Customizations
13.5 Related Reports
13.6 Author Details

List of Tables

Table 1 Factor Analysis
Table 2 Customer Experience Management Market Size, By Component, 2019—2024 (USD Million)
Table 3 Solutions: Market Size By Region, 2019—2024 (USD Million)
Table 4 Services: Market Size By Region, 2019—2024 (USD Million)
Table 5 Services: Market Size By Type, 2019—2024 (USD Million)
Table 6 Professional Services: Market Size By Type, 2019—2024 (USD Million)
Table 7 Managed Services: Market Size By Region, 2019—2024 (USD Million)
Table 8 Customer Experience Management Market, By Deployment Type, 2019–2024 (USD Million)
Table 9 On-Premises: Market By Region, 2019–2024 (USD Million)
Table 10 Cloud: Market By Region, 2019–2024 (USD Million)
Table 11 Customer Experience Management Market, By Vertical, 2019–2024 (USD Million)
Table 12 IT & Telecom: Market By Region, 2019–2024 (USD Million)
Table 13 BFSI: Market By Region, 2019–2024 (USD Million)
Table 14 Retail: Market By Region, 2019–2024 (USD Million)
Table 15 Healthcare: Market Size By Region, 2019–2024 (USD Million)
Table 16 Automotive: Market By Region, 2019–2024 (USD Million)
Table 17 Travel & Hospitality: Market By Region, 2019–2024 (USD Million)
Table 18 Media & Entertainment: Market By Region, 2019–2024 (USD Million)
Table 19 Public Sector: Market By Region, 2019–2024 (USD Million)
Table 20 Others: Market By Region, 2019–2024 (USD Million)
Table 21 Customer Experience Management Market, By Region, 2019–2024 (USD Million)
Table 22 North America: Market By Component, 2019–2024 (USD Million)
Table 23 North America: Market By Services, 2019–2024 (USD Million)
Table 24 North America: Market By Professional Services, 2019–2024 (USD Million)
Table 25 North America: Market By Vertical, 2019–2024 (USD Million)
Table 26 North America: Market By Deployment Type, 2019–2024 (USD Million)
Table 27 North America: Market By Country, 2019–2024 (USD Million)
Table 28 Europe: Customer Experience Management Market, By Component, 2019–2024 (USD Million)
Table 29 Europe: Market By Services, 2019–2024 (USD Million)
Table 30 Europe: Market By Professional Services, 2019–2024 (USD Million)
Table 31 Europe: Market By Vertical, 2019–2024 (USD Million)
Table 32 Europe: Market By Deployment Type, 2019–2024 (USD Million)
Table 33 Europe: Market By Country, 2019–2024 (USD Million)
Table 34 Asia Pacific: Customer Experience Management Market, By Component, 2019–2024 (USD Million)
Table 35 Asia Pacific: Market By Services, 2019–2024 (USD Million)
Table 36 Asia Pacific: Market By Professional Services, 2019–2024 (USD Million)
Table 37 Asia Pacific: Market By Vertical, 2019–2024 (USD Million)
Table 38 Asia Pacific: Market By Deployment Type, 2019–2024 (USD Million)
Table 39 Asia Pacific: Market By Country, 2019–2024 (USD Million)
Table 40 Latin America: Customer Experience Management Market, By Component, 2019–2024 (USD Million)
Table 41 Latin America: Market By Services, 2019–2024 (USD Million)
Table 42 Latin America: Market By Professional Services, 2019–2024 (USD Million)
Table 43 Latin America: Market By Vertical, 2019–2024 (USD Million)
Table 44 Latin America: Market By Deployment Type, 2019–2024 (USD Million)
Table 45 Latin America: Market By Country, 2019–2024 (USD Million)
Table 46 Middle East & Africa: Customer Experience Management Market, By Component, 2019–2024 (USD Million)
Table 47 Middle East & Africa: Market By Services, 2019–2024 (USD Million)
Table 48 Middle East and Africa: Market By Professional Services, 2019–2024 (USD Million)
Table 49 Middle East & Africa: Market By Vertical, 2019–2024 (USD Million)
Table 50 Middle East & Africa: Market By Deployment Type, 2019–2024 (USD Million)
Table 51 Middle East & Africa: Market By Country, 2019–2024 (USD Million)

List of Figures

Figure 1 Customer Experience Management Market: Research Design
Figure 2 Breakup of Profiles of Primary Participants: By Company Type, Designation, and Region
Figure 3 Market: Top-Down and Bottom-Up Approaches
Figure 4 Market Size, 2019-2024
Figure 5 Based on Component, Solutions Segment Estimated to Lead Customer Experience Management Market in 2019
Figure 6 Based on Deployment Type, Cloud Segment Estimated to Account for Larger Market Share in 2019, Compared to On-Premises Segment
Figure 7 Based on Vertical, Travel & Hospitality Segment is Estimated to Lead the Market in 2019
Figure 8 Customer Experience Management Market: Regional Snapshot
Figure 9 Increasing Use of Customer-Related Scores By Organizations to Plan Better Customer Engagement Strategy is Expected to Grow the Market From 2019 to 2024
Figure 10 Solutions Segment and Australia & New Zealand Estimated to Account for the Largest Market Share in Asia Pacific in 2019
Figure 11 India and South Africa Projected to Register Highest CAGR From 2019 to 2024
Figure 12 Advancements in Communication Technology are Major Driving Factors for Market
Figure 13 Drivers, Restraints, Opportunities, and Challenges: Customer Experience Management Market
Figure 14 Services Segment to Grow at A Higher CAGR During the Forecast Period (2019-2024)
Figure 15 Cloud Segment Expected to Account for Larger Market Size During the Forecast Period
Figure 16 Automotive Segment Projected to Grow at the Highest CAGR During the Forecast Period
Figure 17 North America Estimated to Hold the Largest Market Share During the Forecast Period
Figure 18 Asia Pacific Customer Experience Management Market to Grow at the Highest CAGR During the Forecast Period
Figure 19 North America: Market Snapshot
Figure 20 Asia Pacific: Market Snapshot
Figure 21 Customer Experience Management Market (Global) Competitive Leadership Mapping
Figure 22 Market Competitive Leadership Mapping, Startup Companies, 2019
Figure 23 Market Ranking, 2018
Figure 24 Adobe Systems: Company Snapshot
Figure 25 Adobe Systems: SWOT Analysis
Figure 26 IBM: Company Snapshot
Figure 27 IBM: SWOT Analysis
Figure 28 Oracle Corporation: Company Snapshot
Figure 29 Oracle: SWOT Analysis
Figure 30 Avaya Inc.: Company Snapshot
Figure 31 Avaya: SWOT Analysis
Figure 32 NICE Systems: Company Snapshot
Figure 33 NICE Systems: SWOT Analysis
Figure 34 Nokia: Company Snapshot
Figure 35 Nokia: SWOT Analysis
Figure 36 SAP: Company Snapshot
Figure 37 SAP: SWOT Analysis
Figure 38 OpenText: Company Snapshot
Figure 39 Tech Mahindra: Company Snapshot
Figure 40 Verint Systems: Company Snapshot
Figure 41 Zendesk: Company Snapshot
Figure 42 SDL: Company Snapshot

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