Market Size – USD 8798.4 Million in 2021, Market Growth - CAGR of 17.20%, Market Trends –the increasing demand from electronics industry is widening the scope for Customer Experience as a Service (CXaaS) Market.
According to the current analysis of Introspective Market Research, the global Customer Experience as a Service (CXaaS) Market was valued at USD 8798.4 Million in 2021 and is expected to reach USD 27253.6 Million by the year 2028, at a CAGR of 17.20%.
As a Service, Customer Experience is a cloud-based customer experience system for planning, developing, and executing activities across the whole customer journey. On behalf of a brand, CXaaS operations are often managed by a third-party partner. There's no denying that the nature of CX is evolving, with digital service anticipated to grow by 40% this year. While many firms are working to adapt to the new environment, continual alterations may render new customer experience models obsolete before they even arrive. CX as a Service is an end-to-end approach that integrates customer experience strategy, technology, integrated data, automation, and staff skills to create agile new customer experience models that can adapt to rapid change.
A superior customer experience benefits the customer and distinguishes the company from its competition. As a result, customers become loyal. A favorable customer experience assures that the customer will have a long relationship with the brand and spread positive word of mouth. Through its applications and individualized content, CXaaS delivers a positive customer experience. Customers want to be acknowledged, and they want their voices to be heard and treated with respect, which a CX plan allows them to do. A pleasant customer journey also saves money for the business by increasing overall efficiency along the process. The customer data it gives makes marketers' lives easier by allowing them to properly understand what their customers want and need from their business. CXaaS is a backbone of digital transformation that enables organizations to reinvent their customer experience. It combines a program that can listen to and record your customers' voices to identify a solution and provide support for their present issues.
Customer Experience as a Service (CXaaS) Market Report Highlight
- By service type, the cross-channel marketing segment holds the maximum Customer Experience as a Service market share throughout the forecast period. This segment's growth is fueled by the increasing use of customer experience services to deliver an integrated, consistent experience across brands.
- By enterprises, the large enterprise segment is anticipated to dominate the Customer Experience as a Service market over the forecast period. Customer experience is more likely to be used as a service platform by large firms.
- By Industry, the BFSI sector is expected to hold the maximum Customer Experience as a Service market share over the forecast period. Mobile and online banking expansion has benefited the industry's expanding use of CX technologies.
- North America is predicted to dominate the global market in terms of revenue, with increased technological spending and high-tech infrastructure fueling growth.
Customer Experience as a Service (CXaaS) Market Segmentation:
By Service Type
- Campaign Development
- Cross Channel Marketing
- Omni Channel Engagement
By Enterprise Size
- Small and Medium Enterprise
- Large Enterprise
By Industry
- BFSI
- Healthcare & Life Sciences
- IT and Telecom
- Government
- Retail & Consumer Packaged Goods
- Manufacturing
- Media & Entertainment
Major Key Players for Customer Experience as a Service (CXaaS) Market:
- NTT DATA Inc. (Japan)
- Bain & Company Inc. (Massachusetts U.S.)
- Zendesk Inc. (U.S.)
- TTEC Holdings Inc. (U.S.)
- Capgemini SE (France)
- IBM Corporation (U.S.)
- Hexaware Technologies Limited (India)
- Oracle Corporation (U.S.)
- MASTECH INFOTRELLIS
- INC. (U.S.)
- Verint Systems (U.S.)
- Sutherland (U.S.)
- Adobe Inc. (U.S.)
- Avaya (U.S.)
- OpenText Corporation (Canada)
- Others.
For this report, Introspective Market Research has segmented the Customer Experience as a Service (CXaaS) Market based on of region:
Regional Outlook (Revenue in USD Million; Volume in Units, 2021-2028)
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Turkey
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Indonesia
- Vietnam
- Thailand
- Rest of Asia-Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Iran
- Rest of MEA
- Latin America
- Brazil
- Argentina
- Rest of LATAM
