According to the latest report by IMARC Group, titled "Complaint Management Software Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global complaint management software market reached a value of US$ 1.98 Billion in 2021. Complaint management software refers to a solution that is a critical function within a quality management system (QMS) that enables businesses to handle complaints in a timely manner. Additionally, it also provides feedback of product-in-use to the supplier’s and manufacturer’s design and process engineering teams in order to encourage continuous improvements. Besides this, it also aids enterprises in improving customer experience, automating regulatory reporting and compliance, investigating root cause analysis and offer a seamless integration with customer relationship management (CRM).
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 Complaint Management Software Market Trends:
The global market is primarily driven by the increasing need to improve customer experience. This can be attributed to the rising need to strengthen the market position and build a loyal customer base due to the intensive business competition. Along with this, rapid digitization across the corporate segment has encouraged multiple businesses to heavily invest in the deployment of complaint management software, which is providing a boost to the market growth. Moreover, continual technological advancements and the integration of complaint management software with artificial intelligence (AI), the internet of things (IoT) and cloud computing are creating a positive market outlook. Additionally, the rapid outbreak of coronavirus disease (COVID-19) and the growing adoption of remote working approach has impacted the market growth favorably. Other factors, including rapid urbanization, continuous innovation in the software solution, continual improvements in the information technology (IT) sector and extensive research and development (R&D) activities conducted by key players, are also positively influencing the market. On account of the aforementioned factors,?the market is anticipated to reach a value of US$ 3.99 Billion by 2027, growing at a CAGR of 11.70% during 2022-2027.
- On the basis of type, the market has been bifurcated into integrated and stand-alone.
- Based on the component, the market has been segmented into software and services.
- On the basis of the deployment mode, the market has been categorized into cloud-based and on-premises.
- Based on the end-use industry, the market has been classified into government and public, BFSI, retail, IT and telecom, hospitality, healthcare and other sectors.
- On the basis of region, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others) and the Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.?Some of these players include AssurX Inc., EtQ LLC, Freshworks Inc., HappyFox Inc., Intelex Technologies (Industrial Scientific Corporation), MasterControl Inc., Quantivate LLC, Salesforce.com Inc., Sparta Systems Inc., Zendesk Inc. and Zoho Corporation Pvt. Ltd.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Follow us on twitter : @imarcglobal