Customer Experience Management Market Analysis & Forecast, 2020 – 2025

The global customer experience management market generated revenue of US$ 7.8 billion in 2020 and is expected to reach US$ 14.1 billion by 2025 with a CAGR of 12.6% in the forecast period. The customer experience management market report offers a comprehensive market analysis of the different segments and regions that lets readers make crucial business-related decisions with a wealth of information enclosed in this report. Growing demand for personalized experience over different industries helps in driving the market growth and also the increasing need to improve customer engagement and reduce the sellout rates, need for a better understanding of the customers. And also it helps organizations to strengthen their brand presence, reduce consumer churn, and in turn boost business revenue. The research report offers both qualitative and quantitative information on the global customer experience management market. In qualitative terms, the customer experience management market report provides insights into numerous factors, such as market determinants, value chain analysis, emerging trends, growth opportunity analysis, porters five-force model analysis and macro-economic factors, segment analysis, regional analysis at a granular level. Similarly, in quantitative terms, the report provides historical and forecast market numbers of customer experience management in various segments such as by component, deployment model, enterprise size, and industry at global, regional, and country-level. In addition, the report provides a detailed analysis of the market vendors and their product offerings. The report also covers details of the competitive market environment and includes information on the capabilities and competencies of market vendors.

• Solution segment accounts the dominating position in the market. 
  • Based on components, customer experience management is segmented into solutions and services. The solution segment holds the dominating position in the market in 2020 and is expected to retain its dominance throughout the forecast period. Moreover, the service segment is further segmented into professional and managed services. The professional services segment accounts for the dominant position in the market in 2020, whereas the managed services segment is projected to grow with the highest CAGR during the forecast period. 
• Cloud based deployment model is expected to grow with the highest CAGR.
  • Based on the deployment model, the customer experience management is segmented into on-premises and cloud-based. The cloud-based deployment model is expected to grow with the highest CAGR during the forecast period. Moreover, the on-premises deployment model holds the dominating position of the market in 2020 and is expected to retain its dominance throughout the forecast period. 
• Large Enterprises segment accounts the dominating position in the market.
  • Based on enterprise size, the customer experience management is segmented into small & medium enterprises and large enterprises. The small & medium enterprises segment is expected to grow with the highest CAGR during the forecast period. Moreover, the large enterprise segment holds the dominating position in the market in 2020 and is expected to retain its dominance throughout the forecast period. 
• Travel and Hospitality segment account the dominating position in the market.
  • Based on industry, the customer experience management is segmented into automotive, BFSI, healthcare, IT & telecom, media & entertainment, public Sector, retail & ecommerce, travel & hospitality and others. The travel and hospitality sector hold a leading market position in 2020 and are projected to stay leading over the forecast period. In addition, the automotive sector is expected to grow with the highest CAGR in the forecast period. 
• North America accounts the dominating position in the market.
  • Based on the region, the customer experience management is segmented into North America, Europe, Asia Pacific, Middle East & Africa and Latin America. North America has a dominant position in the market in 2020 and is predicted to remain dominant over the projected period. The United States and Canada are the largest market-driven countries in the world. Moreover, Asia Pacific is projected to rise at the fastest CAGR in the forecast period. China, India, and Japan are some of the major market-driven countries in the world. 
• Customer Experience Management Market Players:
  • Some of the major players of customer experience management market are Adobe, IBM Corporation, Oracle Corporation, Avaya, Nice Limited, Nokia, SAP, Open Text Corporation, Tech Mahindra, Verint Systems, Zendesk and Teradata. The study also focuses on different business or inorganic market growth strategies through technology advancement, business expansion, alliances and mergers and acquisitions to create disruptive technologies and consumer networks. 
• Key questions the report answers 
  • Which factors will contribute to a change in the demand for customer experience management during the evaluation phase?
  • What are the major driving factors that accelerate the growth of the market?
  • What are the restraints which hinders the growth of the market?
  • What segment offers the most development opportunities?
  • Which region provides the key growth opportunity to the market?
  • Who are the major industry players?
  • What are the key strategies adopted by the market players?