Customer Experience Management Software Market

Market Overview:

The global customer experience management software market size reached US$ 11,455.9 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 26,762.0 Million by 2028, exhibiting a growth rate (CAGR) of 13.85% during 2023-2028.

Customer experience management (CEM) software assists in tracking, reacting and monitoring customer reactions with a brand to meet expectations and improve their overall experience. It also aids in analyzing feedback and facilitates organizations with comprehensive insights that help take actions for favorable business outcomes. It stores all the information of customers with real-time updates that are easy to share with different teams. As a result, it finds extensive applications in retail, healthcare, media and entertainment (M&E), and banking, financial services and insurance (BFSI) sectors worldwide.

Customer Experience Management Software Market Trends:

With the growing competitive market scenario, brands nowadays are adopting customer-centric approach strategies and considerably relying on customer feedback and experience to increase their profitability. They are also focusing on mergers and acquisitions (M&A), product launches, strategic developments, and partnerships and collaborations to influence their overall sales positively. Moreover, the flourishing e-commerce sector on account of the rising reliance on smartphones and convenience offered via online shopping websites like free home delivery and easy return policies is strengthening the growth of the market. Apart from this, the escalating demand for cloud-based CEM software around the world is bolstering the growth of the market. In addition, as customers are using multiple platforms like mobile apps, websites, and chats, there is a need for collecting customer reviews on a unified platform. This, coupled with the increasing applications of CEM software to determine and cater to the needs of the customers, is positively influencing the market. Besides this, rapid digitalization, increasing investments from venture capitalists, and the rising digital customer interactions across the globe are catalyzing the demand for CEM software solutions.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global customer experience management software market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on component, touchpoint, deployment mode, organization size and industries.

Breakup by Component:

• Solutions
• Services
   

Breakup by Touchpoint:

• Stores/Branches
• Call Centers
• Social Media Platform
• Email
• Mobile
• Web Services
• Others
   

Breakup by Deployment Mode:

• On-premises
• Cloud-based
   

Breakup by Organization Size:

• Large Enterprises
• Small and Medium-sized Enterprises
   

Breakup by Industries:

• Retail
• BFSI
• IT and Telecommunication
• Healthcare
• Media and Entertainment
• Government Sector
• Others
   

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Adobe Inc., 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.

Report Coverage: