Home / Press Release / Customer Experience Management Market Is Driven By Increasing Adoption Of The Big Data Technologies

Customer Experience Management Market Is Driven By Increasing Adoption Of The Big Data Technologies

According to a new market research report published by Credence Research “Global Customer Experience Management Market (Analytical Tools (Web Analytics, Enterprise Feedback Management (EFM) Software, Text Analytics, Speech Analytics, Others); Touch Point (Call Centers, Email, Mobile, Social Media, Stores/Branch, Web Service,      Others); Deployment (On-Premise, Cloud); Application ( BFSI, Retail, Government, Healthcare, IT & Telecom, Manufacturing, Media & entertainment, Others)) – Growth, Future Prospects and Competitive Analysis, 2019 - 2027”, the customer experience management market is set to grow with a CAGR of 14% during the forecast period, up from US$ 6.80 Bn in 2018.

Market Insights

The global customer experience management market is driven by the increasing adoption of the big data technologies among the enterprises. Over the past five years, a significant rise in the adoption of the Big Data technologies across the enterprises has been witnessed. The enterprises are leveraging on the advance data analytics technologies to analyze the large chunks of data and derive the actionable insights. This tools assist enterprises in understanding the customer behavior and their requirements and recommends actionable plan to meet these requirements. This is driving the growth of the customer experience management market. Moreover, the enterprises are adopting wide array of new technologies to enable active customer engagement. To engage customers, organizations are adopting tools to understand their preferences, aggregate content, tracking activities. This helps enterprises in providing a personalized experience to the customer and serve relevant content and product to the customers.

Retail sector is one of the prominent end-users of the customer experience management market. The emergence of the e-commerce is the primary factor driving the adoption of the customer engagement solutions among the retail sector. As the adoption of the internet service across the globe is increasing, the customers are becoming more empowered. Now the customers can choose from wide range of the options available to them. Therefore, to gain the customer loyalty, the retailers are focusing on providing a personalized shopping experience to their users. The retail companies are leveraging on customer behavior analytics software to analyze and meet the customer’s requirement. This is driving the growth of the customer experience management market in the retail sector.

Asia Pacific is projected to grow significantly during the forecast period. The growth of the market is driven by the rapidly growing retail industry in the region. The rapid growth of the customer contact centers in the developing economies is also encouraging the adoption of the customer experience management solutions in the region. Moreover, the large scale penetration of the internet services as well as increasing number of the smartphone users in the region is fostering the market growth. Key vendors in the customer experience managements market are Adobe Systems Inc., Avaya Inc., Cisco Systems, Inc., Huawei Corporation, IBM Corporation, OpenText Corporation, Oracle Corporation, Qualtrics, SAS Institute Inc., Software AG, TATA Consultancy Service Limited, Tech Mahindra Limited, and Zendesk, Inc.

Browse the full report at https://www.credenceresearch.com/report/customer-experience-management-market

The Global Customer Experience Management Market is Segmented into:

Research Period  2017-2027
Base Year 2018
Forecast Period  2019-2027
Historical Year  2017
Unit  USD Billion

 By Analytical tools Segment (2017–2027; US$ Bn)

 By Touch Point Segment (2017–2027; US$ Bn)

 By Deployment Segment (2017–2027; US$ Bn)

 By Application Segment (2017–2027; US$ Bn)

 By Geography Segment (2017–2027; US$ Bn)

*Complete segmentation list is on report page

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