Customer Experience Management Market Synopsis:
The customer Experience Management Market Size Was Valued at USD 12.05 Billion in 2023, and is Projected to Reach USD 45.47 Billion by 2032, Growing at a CAGR of 15.9 % From 2024-2032.
CEM market refers to a set of products and service solutions or processes designed to optimize managing each contact and touch-point that a customer has with the brand. These include solutions for identifying customer paths, capturing feedback, and segment and delivering relevant content through multiple relevant channels to avoid Customer Experience frustration.
The market of Customer Experience Management is rapidly growing due to the trend towards the customer-oriented approach. Modern organizations work towards forging better business positions, competitive advantage, and customer intimacy by spending big on CEM solutions. The increase in the use of mobile applications, social networks, the Internet has created new opportunities for the development of extensive CEM strategies that can meet current customer demands. A number of industries including retail, banking and telecommunications, healthcare act as early adopters of the CEM solutions particularly through the use of big data, analytics, artificial intelligence and machine learning in the analysis of customer data.
In addition, future developments of the CEM platforms are evident through the successive integration with customer relationship management (CRM) and enterprise resources planning (ERP) systems which brought about improved flow of operations. Technological advancements have also fuelled market adoption by making CEM solutions available in the cloud enabling scalability, cost minimalism and flexibility. The increasing consumer need for bespoke and integrated experiences is expected to lead to further CEM market growth across the forecast period.
Customer Experience Management Market Trend Analysis:
The Rise of AI-Driven Customer Insights
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Customer Experience Management has been transformed by Artificial intelligence since organizations can process huge amounts of customer data rapidly and accurately. Customer relations are also benefiting from AI-based technologies that are used to identify hidden trends, anticipate customer’s borderline behavior, and tailor the interactions. Other elements, such as virtual assistants, chatbots and AI sentiments analysis are gaining increasing relevance to CEM strategies as businesses learn to interact with customers in real time. This trend demonstrated the increasing prominence of automation and AI decision making as the key drivers of the future of customer experiences.
Expanding Use of CEM in SMEs
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SMEs are expected to be a promising growth area for the CEM market since they may have limited resources for embracing the concept. When customer expectations are high, these SMEs are beginning to realize that the need to incorporate complex CEM tools into their business strategies. CEM has become affordable due to the availability of cheap, easy to use and online applications to undertake the assessment. Through the use of these tools, SME’s will be in a position to better satisfying their customers hence improving their retention rate and increasing revenue. Specifically, vendors that adjusted their delivery model to accommodate the needs of SMEs would find this new market segment particularly attractive.
Customer Experience Management Market Segment Analysis:
Customer Experience Management Market Segmented on the basis of deployment, size, end user and region.
By Deployment, On Premises segment is expected to dominate the market during the forecast period
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The On-Premises segment is expected to dominate the Customer Experience Management market because large enterprises prefer it for enhanced security, control, and compliance. That’s why on-premises solutions give businesses full control over their data, and it’s most valuable for those industries that have strict requirements to data protection, for example, healthcare, banking, and government sectors. The ability to tailor and interface with current on-premise applications adds to the continued use of such networks. However, read-only access to data has created the on-premises segment as a vital choice for organizations that value data localization and increased customization options.
By Size, Large Enterprise segment expected to held the largest share
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Large Enterprise is expected to be the largest market to be operational due to larger investment capability and, thus, higher and diverse interactions with the customer base. CEM solutions in large enterprises may encounter a wide and complex customer database, thus requiring sophisticated skills in the maintenance of customers’ satisfaction at all levels. These organizations need CEM tools to gain the insights, manage multiple channel interactions and customer journey optimization. Large enterprises have strengthened their position in the CEM market due to the employability of AI and big data analytics with CEM platforms.
Customer Experience Management Market Regional Insights:
North America is Expected to Dominate the Market Over the Forecast period
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North America is expected to emerge as the largest market for Customer Experience Management owing to its better and developed technological platform and early fascination for innovative tools. The region comprises many important industry stakeholders and emerging new age companies that are pushing the development of CEM technologies. CEM solutions are primarily adopted in the United States by various types of Companies of different fields like retail, finance, and healthcare.
- This has continued to advance the market growth in North America due to the major emphasis on digitalization of businesses and putting customers as the hub of every business. Furthermore, the environment on the regional level pays significant attention to data protection and privacy, which creates a valuable opportunity for companies to implement highly professional CEM tools that meet legal requirements. North America is expected to dominate the CEM market during the forecast period due to the continual spending on artificial intelligence, machine learning, and analytics.
Active Key Players in the Customer Experience Management Market:
- Adobe Inc. (USA)
- Amplitude (USA)
- Capgemini (France)
- Clarabridge (USA)
- IBM Corporation (USA)
- InMoment (USA)
- Medallia Inc. (USA)
- Microsoft Corporation (USA)
- NICE Systems (Israel)
- OpenText Corporation (Canada)
- Oracle Corporation (USA)
- Salesforce.com, Inc. (USA)
- SAP SE (Germany)
- Verint Systems (USA)
- Zendesk Inc. (USA)
- Other Active Players
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Global Customer Experience Management Market |
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Base Year: |
2023 |
Forecast Period: |
2024-2032 |
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Historical Data: |
2017 to 2023 |
Market Size in 2023: |
USD 12.05 Billion |
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Forecast Period 2024-32 CAGR: |
15.9 % |
Market Size in 2032: |
USD 45.47 Billion |
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Segments Covered: |
By Deployment |
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By Size |
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By End User |
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By Region |
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Key Market Drivers: |
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Key Market Restraints: |
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Key Opportunities: |
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Companies Covered in the report: |
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Chapter 1: Introduction
1.1 Scope and Coverage
Chapter 2:Executive Summary
Chapter 3: Market Landscape
3.1 Market Dynamics
3.1.1 Drivers
3.1.2 Restraints
3.1.3 Opportunities
3.1.4 Challenges
3.2 Market Trend Analysis
3.3 PESTLE Analysis
3.4 Porter's Five Forces Analysis
3.5 Industry Value Chain Analysis
3.6 Ecosystem
3.7 Regulatory Landscape
3.8 Price Trend Analysis
3.9 Patent Analysis
3.10 Technology Evolution
3.11 Investment Pockets
3.12 Import-Export Analysis
Chapter 4: Customer Experience Management Market by Deployment
4.1 Customer Experience Management Market Snapshot and Growth Engine
4.2 Customer Experience Management Market Overview
4.3 Cloud On-premises
4.3.1 Introduction and Market Overview
4.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
4.3.3 Key Market Trends, Growth Factors and Opportunities
4.3.4 Cloud On-premises: Geographic Segmentation Analysis
Chapter 5: Customer Experience Management Market by Size
5.1 Customer Experience Management Market Snapshot and Growth Engine
5.2 Customer Experience Management Market Overview
5.3 Large Enterprises Small and Medium Enterprises
5.3.1 Introduction and Market Overview
5.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
5.3.3 Key Market Trends, Growth Factors and Opportunities
5.3.4 Large Enterprises Small and Medium Enterprises: Geographic Segmentation Analysis
Chapter 6: Customer Experience Management Market by End User
6.1 Customer Experience Management Market Snapshot and Growth Engine
6.2 Customer Experience Management Market Overview
6.3 BFSI Retail Healthcare IT & Telecom Manufacturing Government
6.3.1 Introduction and Market Overview
6.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
6.3.3 Key Market Trends, Growth Factors and Opportunities
6.3.4 BFSI Retail Healthcare IT & Telecom Manufacturing Government: Geographic Segmentation Analysis
6.4 Energy & Utilities Construction
6.4.1 Introduction and Market Overview
6.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
6.4.3 Key Market Trends, Growth Factors and Opportunities
6.4.4 Energy & Utilities Construction: Geographic Segmentation Analysis
6.5 Real Estate & Property Management Service Business Others
6.5.1 Introduction and Market Overview
6.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
6.5.3 Key Market Trends, Growth Factors and Opportunities
6.5.4 Real Estate & Property Management Service Business Others: Geographic Segmentation Analysis
Chapter 7: Company Profiles and Competitive Analysis
7.1 Competitive Landscape
7.1.1 Competitive Benchmarking
7.1.2 Customer Experience Management Market Share by Manufacturer (2023)
7.1.3 Industry BCG Matrix
7.1.4 Heat Map Analysis
7.1.5 Mergers and Acquisitions
7.2 ADOBE INC. (USA)
7.2.1 Company Overview
7.2.2 Key Executives
7.2.3 Company Snapshot
7.2.4 Role of the Company in the Market
7.2.5 Sustainability and Social Responsibility
7.2.6 Operating Business Segments
7.2.7 Product Portfolio
7.2.8 Business Performance
7.2.9 Key Strategic Moves and Recent Developments
7.2.10 SWOT Analysis
7.3 AMPLITUDE (USA)
7.4 CAPGEMINI (FRANCE)
7.5 CLARABRIDGE (USA)
7.6 IBM CORPORATION (USA)
7.7 INMOMENT (USA)
7.8 MEDALLIA INC. (USA)
7.9 MICROSOFT CORPORATION (USA)
7.10 NICE SYSTEMS (ISRAEL)
7.11 OPENTEXT CORPORATION (CANADA)
7.12 ORACLE CORPORATION (USA)
7.13 SALESFORCE.COM INC. (USA)
7.14 SAP SE (GERMANY)
7.15 VERINT SYSTEMS (USA)
7.16 ZENDESK INC. (USA)
7.17 OTHER ACTIVE PLAYERS
Chapter 8: Global Customer Experience Management Market By Region
8.1 Overview
8.2. North America Customer Experience Management Market
8.2.1 Key Market Trends, Growth Factors and Opportunities
8.2.2 Top Key Companies
8.2.3 Historic and Forecasted Market Size by Segments
8.2.4 Historic and Forecasted Market Size By Deployment
8.2.4.1 Cloud On-premises
8.2.5 Historic and Forecasted Market Size By Size
8.2.5.1 Large Enterprises Small and Medium Enterprises
8.2.6 Historic and Forecasted Market Size By End User
8.2.6.1 BFSI Retail Healthcare IT & Telecom Manufacturing Government
8.2.6.2 Energy & Utilities Construction
8.2.6.3 Real Estate & Property Management Service Business Others
8.2.7 Historic and Forecast Market Size by Country
8.2.7.1 US
8.2.7.2 Canada
8.2.7.3 Mexico
8.3. Eastern Europe Customer Experience Management Market
8.3.1 Key Market Trends, Growth Factors and Opportunities
8.3.2 Top Key Companies
8.3.3 Historic and Forecasted Market Size by Segments
8.3.4 Historic and Forecasted Market Size By Deployment
8.3.4.1 Cloud On-premises
8.3.5 Historic and Forecasted Market Size By Size
8.3.5.1 Large Enterprises Small and Medium Enterprises
8.3.6 Historic and Forecasted Market Size By End User
8.3.6.1 BFSI Retail Healthcare IT & Telecom Manufacturing Government
8.3.6.2 Energy & Utilities Construction
8.3.6.3 Real Estate & Property Management Service Business Others
8.3.7 Historic and Forecast Market Size by Country
8.3.7.1 Russia
8.3.7.2 Bulgaria
8.3.7.3 The Czech Republic
8.3.7.4 Hungary
8.3.7.5 Poland
8.3.7.6 Romania
8.3.7.7 Rest of Eastern Europe
8.4. Western Europe Customer Experience Management Market
8.4.1 Key Market Trends, Growth Factors and Opportunities
8.4.2 Top Key Companies
8.4.3 Historic and Forecasted Market Size by Segments
8.4.4 Historic and Forecasted Market Size By Deployment
8.4.4.1 Cloud On-premises
8.4.5 Historic and Forecasted Market Size By Size
8.4.5.1 Large Enterprises Small and Medium Enterprises
8.4.6 Historic and Forecasted Market Size By End User
8.4.6.1 BFSI Retail Healthcare IT & Telecom Manufacturing Government
8.4.6.2 Energy & Utilities Construction
8.4.6.3 Real Estate & Property Management Service Business Others
8.4.7 Historic and Forecast Market Size by Country
8.4.7.1 Germany
8.4.7.2 UK
8.4.7.3 France
8.4.7.4 The Netherlands
8.4.7.5 Italy
8.4.7.6 Spain
8.4.7.7 Rest of Western Europe
8.5. Asia Pacific Customer Experience Management Market
8.5.1 Key Market Trends, Growth Factors and Opportunities
8.5.2 Top Key Companies
8.5.3 Historic and Forecasted Market Size by Segments
8.5.4 Historic and Forecasted Market Size By Deployment
8.5.4.1 Cloud On-premises
8.5.5 Historic and Forecasted Market Size By Size
8.5.5.1 Large Enterprises Small and Medium Enterprises
8.5.6 Historic and Forecasted Market Size By End User
8.5.6.1 BFSI Retail Healthcare IT & Telecom Manufacturing Government
8.5.6.2 Energy & Utilities Construction
8.5.6.3 Real Estate & Property Management Service Business Others
8.5.7 Historic and Forecast Market Size by Country
8.5.7.1 China
8.5.7.2 India
8.5.7.3 Japan
8.5.7.4 South Korea
8.5.7.5 Malaysia
8.5.7.6 Thailand
8.5.7.7 Vietnam
8.5.7.8 The Philippines
8.5.7.9 Australia
8.5.7.10 New Zealand
8.5.7.11 Rest of APAC
8.6. Middle East & Africa Customer Experience Management Market
8.6.1 Key Market Trends, Growth Factors and Opportunities
8.6.2 Top Key Companies
8.6.3 Historic and Forecasted Market Size by Segments
8.6.4 Historic and Forecasted Market Size By Deployment
8.6.4.1 Cloud On-premises
8.6.5 Historic and Forecasted Market Size By Size
8.6.5.1 Large Enterprises Small and Medium Enterprises
8.6.6 Historic and Forecasted Market Size By End User
8.6.6.1 BFSI Retail Healthcare IT & Telecom Manufacturing Government
8.6.6.2 Energy & Utilities Construction
8.6.6.3 Real Estate & Property Management Service Business Others
8.6.7 Historic and Forecast Market Size by Country
8.6.7.1 Turkiye
8.6.7.2 Bahrain
8.6.7.3 Kuwait
8.6.7.4 Saudi Arabia
8.6.7.5 Qatar
8.6.7.6 UAE
8.6.7.7 Israel
8.6.7.8 South Africa
8.7. South America Customer Experience Management Market
8.7.1 Key Market Trends, Growth Factors and Opportunities
8.7.2 Top Key Companies
8.7.3 Historic and Forecasted Market Size by Segments
8.7.4 Historic and Forecasted Market Size By Deployment
8.7.4.1 Cloud On-premises
8.7.5 Historic and Forecasted Market Size By Size
8.7.5.1 Large Enterprises Small and Medium Enterprises
8.7.6 Historic and Forecasted Market Size By End User
8.7.6.1 BFSI Retail Healthcare IT & Telecom Manufacturing Government
8.7.6.2 Energy & Utilities Construction
8.7.6.3 Real Estate & Property Management Service Business Others
8.7.7 Historic and Forecast Market Size by Country
8.7.7.1 Brazil
8.7.7.2 Argentina
8.7.7.3 Rest of SA
Chapter 9 Analyst Viewpoint and Conclusion
9.1 Recommendations and Concluding Analysis
9.2 Potential Market Strategies
Chapter 10 Research Methodology
10.1 Research Process
10.2 Primary Research
10.3 Secondary Research
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Global Customer Experience Management Market |
|||
|
Base Year: |
2023 |
Forecast Period: |
2024-2032 |
|
Historical Data: |
2017 to 2023 |
Market Size in 2023: |
USD 12.05 Billion |
|
Forecast Period 2024-32 CAGR: |
15.9 % |
Market Size in 2032: |
USD 45.47 Billion |
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Segments Covered: |
By Deployment |
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By Size |
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By End User |
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By Region |
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Key Market Drivers: |
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Key Market Restraints: |
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Key Opportunities: |
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Companies Covered in the report: |
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