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Customer Experience as a Service (CXaaS) Market Synopsis

Global Customer Experience as a Service (CXaaS) Market Size Was Valued at USD 1.87 Billion in 2022, and is Projected to Reach USD 5.44 Billion by 2030, Growing at a CAGR of 14.28% From 2023-2030.

The Customer Experience as a Service (CXaaS), businesses provide outstanding customer experiences through outsourced solutions. This approach utilizes technology and specialized knowledge to enhance interactions across various touchpoints, ultimately boosting customer satisfaction and loyalty. CXaaS providers deliver customized strategies, analytics, and assistance to aid organizations in enhancing customer engagement and fostering business expansion.

  • Across various sectors, Customer Experience as a Service (CXaaS) enhances customer interactions and satisfaction, streamlining service processes, tailoring interactions, and providing seamless omnichannel experiences. From retail and e-commerce to telecommunications and finance, CXaaS aids in fostering stronger customer relationships, leading to enhanced loyalty and retention.
  • One key advantage of CXaaS is its scalability and adaptability, allowing businesses to respond to changing customer needs and market trends. Outsourcing customer experience management grants access to specialized expertise and resources without requiring costly infrastructure or technology upgrades. Additionally, CXaaS offers real-time analytics, empowering organizations to make informed, data-driven decisions and continually refine the customer journey.
  • Future demand for CXaaS is set to surge as companies prioritize customer-centric strategies and embrace digital transformation. With the proliferation of e-commerce and digital interactions, delivering personalized experiences across all touchpoints is increasingly crucial. Moreover, amid heightened competition, businesses recognize the importance of investing in customer experience to differentiate themselves and achieve business success. As a result, the CXaaS market is poised for rapid expansion, driven by innovative technologies and solutions that drive continuous evolution and enhancement of customer engagement strategies.

Customer Experience as a Service (CXaaS) Market Trend Analysis:

Growing Adoption of Cloud-Based Technologies and Digital Transformation Initiatives

  • The rapid expansion of the Customer Experience as a Service (CXaaS) market is propelled by the increasing adoption of cloud-based technologies and digital transformation initiatives. Businesses are progressively transitioning to cloud-based solutions to modernize their operations and elevate customer interactions. Cloud-based CXaaS platforms provide scalability, flexibility, and accessibility, empowering enterprises to deliver seamless experiences across various channels while mitigating infrastructure costs and complexities.
  • Moreover, as companies embark on digital transformation endeavors, they acknowledge the pivotal role of customer experience in driving organizational success. CXaaS solutions seamlessly align with digital transformation strategies, furnishing the requisite technological infrastructure and tools to deliver personalized, data-driven experiences. Leveraging CXaaS platforms enables businesses to delve deeper into customer behavior, preferences, and sentiment, enabling them to tailor interactions and offerings adeptly to meet evolving demands.
  • Furthermore, prompting businesses to prioritize remote operations and online engagement channels. Consequently, there is a surge in demand for CXaaS as enterprises strive to adapt to the evolving landscape and fulfill the evolving expectations of digitally savvy consumers. With cloud-based technologies spearheading this transformation, the CXaaS market is primed for sustained expansion, propelled by the continual evolution of digital strategies and the relentless pursuit of enriched customer experiences.

Integration with Emerging Technologies Like IoT and AR/VR for Enhanced Customer Engagement

  • Integrating Customer Experience as a Service (CXaaS) with emerging technologies like the Internet of Things (IoT) and Augmented Reality/Virtual Reality (AR/VR) presents a significant growth opportunity for the market. By integrating IoT devices into CXaaS platforms, businesses can access real-time data from interconnected devices, gaining deeper insights into customer behavior and preferences. This data-driven approach facilitates personalized and contextualized interactions, thereby enhancing overall customer engagement and satisfaction levels.
  • Furthermore, leveraging AR/VR technologies within CXaaS solutions allows businesses to provide immersive and interactive experiences to their customers. These technologies find applications across various industries, including retail, entertainment, and tourism, enabling virtual product demonstrations, immersive shopping experiences, and virtual tours. Integration of AR/VR into CXaaS platforms enables businesses to create memorable and captivating experiences, setting them apart from competitors and fostering customer loyalty.
  • Moreover, the adoption of IoT and AR/VR for customer engagement creates new revenue streams and business opportunities for CXaaS providers. As businesses increasingly prioritize delivering immersive and personalized experiences, the demand for CXaaS solutions integrated with these technologies is expected to grow. This presents CXaaS providers with the chance to innovate and develop advanced solutions that harness IoT and AR/VR to deliver exceptional customer experiences, positioning themselves for sustained growth and success in the competitive market landscape.

Customer Experience as a Service (CXaaS) Market Segment Analysis:

Customer Experience as a Service (CXaaS) Market Segmented on the basis of Service Type, Enterprise Size, and Distribution Channel

By Service Type, Cross Channel Marketing segment is expected to dominate the market during the forecast period

  • Expectedly, the Cross-Channel Marketing segment will lead the expansion of the Customer Experience as a Service (CXaaS) Market. This segment concentrates on delivering consistent and personalized messages across various platforms, such as email, social media, websites, and mobile applications. Through the integration of data from diverse touchpoints, enterprises can craft coherent and smooth customer experiences, thereby fostering engagement and loyalty.
  • Furthermore, Cross Channel Marketing empowers enterprises to connect with customers at different phases of the purchasing journey and customize communications based on individual preferences and behaviors. Given the growing significance of omnichannel marketing strategies, businesses prioritize solutions that facilitate unified and coordinated customer interactions. the Cross-Channel Marketing segment is poised to dominate the CXaaS market, providing comprehensive solutions that optimize customer engagement and propel business expansion.

By Enterprise Size, Large Enterprise held the largest share of 56.12% in 2022

  • Large enterprises have been pivotal in propelling the expansion of the Customer Experience as a Service (CXaaS) Market. With their extensive customer bases and intricate operations, these corporations are ideally positioned to benefit from CXaaS solutions. Prioritizing the enhancement of customer experiences to sustain competitiveness and foster loyalty, large enterprises invest in CXaaS platforms to streamline interactions, personalize communications, and ensure seamless omnichannel experiences.
  • Furthermore, large enterprises possess the necessary resources and infrastructure to effectively implement and scale CXaaS solutions. Often equipped with dedicated teams or departments specializing in customer experience management, they facilitate the seamless integration of CXaaS technologies into their existing systems and processes. Given the escalating importance of delivering outstanding customer experiences in today's cutthroat business environment, large enterprises continue to fuel the demand for CXaaS solutions, playing a significant role in driving the market's growth and expansion.

Customer Experience as a Service (CXaaS) Market Regional Insights:

Asia Pacific is Expected to Dominate the Market Over the Forecast period

  • Asia Pacific is positioned to lead the expansion of the Customer Experience as a Service (CXaaS) market. The region's rapid economic growth, burgeoning population, and increasing digitalization present extensive opportunities for CXaaS adoption. Businesses across Asia Pacific are increasingly focusing on customer-centric strategies to maintain competitiveness in the ever-evolving market landscape.
  • Asia Pacific boasts a thriving technology sector and a growing base of digitally savvy consumers, which drives the demand for CXaaS solutions. With the surge in e-commerce and mobile commerce platforms, there's a growing emphasis on delivering exceptional customer experiences across various touchpoints. Additionally, governments in countries like China, India, and Southeast Asian nations are actively promoting digital initiatives and investing in infrastructure, further stimulating the growth of the CXaaS market in the region. Asia Pacific is poised to dominate the CXaaS market, presenting significant growth opportunities for both businesses and CXaaS providers.

Customer Experience as a Service (CXaaS) Market Top Key Players:

  • Bain & Company, Inc. (U.S.)
  • Zendesk, Inc. (U.S.)
  • IBM Corporation (U.S.)
  • TTEC Holdings, Inc. (U.S.)
  • 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)
  • Capgemini SE (France)
  • NTT DATA, Inc. (Japan)
  • Hexaware Technologies Limited (India), and Other Major Players

Key Industry Developments in the Customer Experience as a Service (CXaaS) Market:

  • In February 2022, Verizon Business announced the inclusion of Genesys Cloud in its portfolio of contact center and global customer experience solutions. Verizon Business announced the growth of Genesys Cloud as part of the company's global customer experience and contact center efforts, given that contact centers rely on digital, remote-first operations. Utilizing Verizon's award-winning organization, the solutionā€”a cloud-based Contact Center as a Service from GenesysĀ®ā€”gives businesses the ability to provide brand-defining customer experiences (CX) on an end-to-end, cloud-based platform with remote access.
  • In January 2023, The leading provider of AI-powered experience orchestration on the global cloud, GenesysĀ®, announced that it has reached an agreement to acquire Radarr Technologies, a pioneer in AI-powered social and digital listening, analytics, and customer engagement.Genesys will enable businesses to unify the customer experience (CX) like never before by combining the extensive public social media capabilities of Radarr Technologies with the all-in-one Genesys CloudTM platform. This will enable businesses to create proactive, prescriptive engagement designed to foster loyalty in the AI economy.

Global Customer Experience as a Service (CXaaS) Market

Base Year:

2022

Forecast Period:

2023-2030

Historical Data:

2017 to 2022

Market Size in 2022:

USD 1.87 Bn.

Forecast Period 2023-30 CAGR:

14.28%

Market Size in 2030:

USD 5.44 Bn.

Segments Covered:

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

By Region

  • North America (U.S., Canada, Mexico)
  • Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
  • Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
  • Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New-Zealand, Rest of APAC)
  • Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)
  • South America (Brazil, Argentina, Rest of SA)

Key Market Drivers:

  • Growing Adoption of Cloud-Based Technologies and Digital Transformation Initiatives

Key Market Restraints:

  • Security Concerns and Data Privacy Regulations

Key Opportunities:

  • Integration with Emerging Technologies Like IoT and AR/VR for Enhanced Customer Engagement

Companies Covered in the report:

  • Bain & Company, Inc. (U.S.), IBM Corporation (U.S.), Oracle Corporation (U.S.), Capgemini SE (France), NTT DATA, Inc. (Japan), and other major players.

 

  1. INTRODUCTION
    1. RESEARCH OBJECTIVES
    2. RESEARCH METHODOLOGY
    3. RESEARCH PROCESS
    4. SCOPE AND COVERAGE
      1. Market Definition
      2. Key Questions Answered
    5. MARKET SEGMENTATION
  2. EXECUTIVE SUMMARY
  3. MARKET OVERVIEW
  4. GROWTH OPPORTUNITIES BY SEGMENT
  5. MARKET LANDSCAPE
    1. PORTERā€™S FIVE FORCES ANALYSIS
      1. Bargaining Power Of Supplier
      2. Threat Of New Entrants
      3. Threat Of Substitutes
      4. Competitive Rivalry
      5. Bargaining Power Among Buyers
    2. INDUSTRY VALUE CHAIN ANALYSIS
    3. MARKET DYNAMICS
      1. Drivers
      2. Restraints
      3. Opportunities
      4. Challenges
    4. MARKET TREND ANALYSIS
    5. REGULATORY LANDSCAPE
    6. PESTLE ANALYSIS
    7. PRICE TREND ANALYSIS
    8. PATENT ANALYSIS
    9. TECHNOLOGY EVALUATION
    10. MARKET IMPACT OF THE RUSSIA-UKRAINE WAR
      1. Geopolitical Market Disruptions
      2. Supply Chain Disruptions
      3. Instability in Emerging Markets
    11. ECOSYSTEM
  6. CUSTOMER EXPERIENCE AS A SERVICE (CXAAS) MARKET BY SERVICE TYPE (2017-2030)
    1. CUSTOMER EXPERIENCE AS A SERVICE (CXAAS) MARKET SNAPSHOT AND GROWTH ENGINE
    2. MARKET OVERVIEW
    3. CAMPAIGN DEVELOPMENT
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2017 ā€“ 2030F)
      3. Historic And Forecasted Market Size in Volume (2017 ā€“ 2030F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
    4. CROSS CHANNEL MARKETING
    5. OMNI CHANNEL ENGAGEMENT
  7. CUSTOMER EXPERIENCE AS A SERVICE (CXAAS) MARKET BY ENTERPRISE SIZE (2017-2030)
    1. CUSTOMER EXPERIENCE AS A SERVICE (CXAAS) MARKET SNAPSHOT AND GROWTH ENGINE
    2. MARKET OVERVIEW
    3. SMALL AND MEDIUM ENTERPRISE
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2017 ā€“ 2030F)
      3. Historic And Forecasted Market Size in Volume (2017 ā€“ 2030F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
    4. LARGE ENTERPRISE
  8. CUSTOMER EXPERIENCE AS A SERVICE (CXAAS) MARKET BY INDUSTRY (2017-2030)
    1. CUSTOMER EXPERIENCE AS A SERVICE (CXAAS) MARKET SNAPSHOT AND GROWTH ENGINE
    2. MARKET OVERVIEW
    3. BFSI
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2017 ā€“ 2030F)
      3. Historic And Forecasted Market Size in Volume (2017 ā€“ 2030F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
    4. HEALTHCARE & LIFE SCIENCES
    5. IT AND TELECOM
    6. GOVERNMENT
    7. RETAIL & CONSUMER PACKAGED GOODS
    8. MANUFACTURING
  9. COMPANY PROFILES AND COMPETITIVE ANALYSIS
    1. COMPETITIVE LANDSCAPE
      1. Competitive Positioning
      2. Customer Experience as a Service (CXaaS) Market Share By Manufacturer (2022)
      3. Industry BCG Matrix
      4. Heat Map Analysis
      5. Mergers & Acquisitions
    2. BAIN & COMPANY, INC. (U.S.)
      1. Company Overview
      2. Key Executives
      3. Company Snapshot
      4. Role of the Company in the Market
      5. Sustainability and Social Responsibility
      6. Operating Business Segments
      7. Product Portfolio
      8. Business Performance (Production Volume, Sales Volume, Sales Margin, Production Capacity, Capacity Utilization Rate)
      9. Key Strategic Moves And Recent Developments
      10. SWOT Analysis
    3. ZENDESK, INC. (U.S.)
    4. IBM CORPORATION (U.S.)
    5. TTEC HOLDINGS, INC. (U.S.)
    6. ORACLE CORPORATION (U.S.)
    7. MASTECH INFOTRELLIS, INC. (U.S.)
    8. VERINT SYSTEMS (U.S.)
    9. SUTHERLAND (U.S.)
    10. ADOBE INC. (U.S.)
    11. AVAYA (U.S.)
    12. OPENTEXT CORPORATION (CANADA)
    13. CAPGEMINI SE (FRANCE)
    14. NTT DATA, INC. (JAPAN)
    15. HEXAWARE TECHNOLOGIES LIMITED (INDIA)
  10. GLOBAL CUSTOMER EXPERIENCE AS A SERVICE (CXAAS) MARKET BY REGION
    1. OVERVIEW
    2. NORTH AMERICA
      1. Key Market Trends, Growth Factors And Opportunities
      2. Key Manufacturers
      3. Historic And Forecasted Market Size By SERVICE TYPE
      4. Historic And Forecasted Market Size By Enterprise Size
      5. Historic And Forecasted Market Size By Industry
      6. Historic And Forecasted Market Size By Country
        1. USA
        2. Canada
        3. Mexico
    3. EASTERN EUROPE
      1. Key Market Trends, Growth Factors And Opportunities
      2. Key Manufacturers
      3. Historic And Forecasted Market Size By Segments
      4. Historic And Forecasted Market Size By Country
        1. Russia
        2. Bulgaria
        3. The Czech Republic
        4. Hungary
        5. Poland
        6. Romania
        7. Rest Of Eastern Europe
    4. WESTERN EUROPE
      1. Key Market Trends, Growth Factors And Opportunities
      2. Key Manufacturers
      3. Historic And Forecasted Market Size By Segments
      4. Historic And Forecasted Market Size By Country
        1. Germany
        2. United Kingdom
        3. France
        4. The Netherlands
        5. Italy
        6. Spain
        7. Rest Of Western Europe
    5. ASIA PACIFIC
      1. Key Market Trends, Growth Factors And Opportunities
      2. Key Manufacturers
      3. Historic And Forecasted Market Size By Segments
      4. Historic And Forecasted Market Size By Country
        1. China
        2. India
        3. Japan
        4. South Korea
        5. Malaysia
        6. Thailand
        7. Vietnam
        8. The Philippines
        9. Australia
        10. New-Zealand
        11. Rest Of APAC
    6. MIDDLE EAST & AFRICA
      1. Key Market Trends, Growth Factors And Opportunities
      2. Key Manufacturers
      3. Historic And Forecasted Market Size By Segments
      4. Historic And Forecasted Market Size By Country
        1. Turkey
        2. Bahrain
        3. Kuwait
        4. Saudi Arabia
        5. Qatar
        6. UAE
        7. Israel
        8. South Africa
    7. SOUTH AMERICA
      1. Key Market Trends, Growth Factors And Opportunities
      2. Key Manufacturers
      3. Historic And Forecasted Market Size By Segments
      4. Historic And Forecasted Market Size By Country
        1. Brazil
        2. Argentina
        3. Rest of South America
  11. INVESTMENT ANALYSIS
  12. ANALYST VIEWPOINT AND CONCLUSION
    1. Recommendations and Concluding Analysis
    2. Potential Market Strategies

Global Customer Experience as a Service (CXaaS) Market

Base Year:

2022

Forecast Period:

2023-2030

Historical Data:

2017 to 2022

Market Size in 2022:

USD 1.87 Bn.

Forecast Period 2023-30 CAGR:

14.28%

Market Size in 2030:

USD 5.44 Bn.

Segments Covered:

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

By Region

  • North America (U.S., Canada, Mexico)
  • Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
  • Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
  • Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New-Zealand, Rest of APAC)
  • Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)
  • South America (Brazil, Argentina, Rest of SA)

Key Market Drivers:

  • Growing Adoption of Cloud-Based Technologies and Digital Transformation Initiatives

Key Market Restraints:

  • Security Concerns and Data Privacy Regulations

Key Opportunities:

  • Integration with Emerging Technologies Like IoT and AR/VR for Enhanced Customer Engagement

Companies Covered in the report:

  • Bain & Company, Inc. (U.S.), IBM Corporation (U.S.), Oracle Corporation (U.S.), Capgemini SE (France), NTT DATA, Inc. (Japan), and other major players.
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Frequently Asked Questions :

What would be the forecast period in the Customer Experience as a Service (CXaaS) Market research report?

The forecast period in the Customer Experience as a Service (CXaaS) Market research report is 2023-2030.

Who are the key players in the Customer Experience as a Service (CXaaS) Market?

Bain & Company, Inc. (U.S.), Zendesk, Inc. (U.S.), IBM Corporation (U.S.), TTEC Holdings, Inc. (U.S.), 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), Capgemini SE (France), NTT DATA, Inc. (Japan), Hexaware Technologies Limited (India), and Other Major Players.

What are the segments of the Customer Experience as a Service (CXaaS) Market?

The Customer Experience as a Service (CXaaS) Market is segmented into Service Type, Enterprise Size, Industry, and Region. By Service Type, the market is categorized into Campaign Development, Cross Channel Marketing, and channel Engagement. By Enterprise Size, the market is categorized into Small and Medium Enterprise, Large Enterprise. By Industry, the market is categorized into BFSI, Healthcare & Life Sciences, IT and Telecom, Government, Retail & Consumer Packaged Goods, and Manufacturing. By region, it is analyzed across North America (U.S.; Canada; Mexico), Eastern Europe (Bulgaria; The Czech Republic; Hungary; Poland; Romania; Rest of Eastern Europe), Western Europe (Germany; UK; France; Netherlands; Italy; Russia; Spain; Rest of Western Europe), Asia-Pacific (China; India; Japan; Southeast Asia, etc.), South America (Brazil; Argentina, etc.), Middle East & Africa (Saudi Arabia; South Africa, etc.).

What is the Customer Experience as a Service (CXaaS) Market?

The Customer Experience as a Service (CXaaS), businesses provide outstanding customer experiences through outsourced solutions. This approach utilizes technology and specialized knowledge to enhance interactions across various touchpoints, ultimately boosting customer satisfaction and loyalty. CXaaS providers deliver customized strategies, analytics, and assistance to aid organizations in enhancing customer engagement and fostering business expansion

How big is the Customer Experience as a Service (CXaaS) Market?

Global Customer Experience as a Service (CXaaS) Market Size Was Valued at USD 1.87 Billion in 2022, and is Projected to Reach USD 5.44 Billion by 2030, Growing at a CAGR of 14.28% From 2023-2030.