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Global Customer Experience Management Software Market Size, Share, Growth, Trends, Price, Forecast: By Touchpoint: Web, Social Media, Email, Contact Centre, Others; By Deployment Mode: Cloud, On-premises; By End Use: BFSI, Retail, Healthcare, Automotive, Others; Regional Analysis; Market Dynamics; Competitive Landscape; 2023-2028
Global Customer Experience Management Software Market Outlook
The global customer experience management software market size reached approximately USD 11 billion in 2022. The market is projected to grow at a CAGR of 14.40% between 2023 and 2028, reaching a value of around USD 24.66 billion by 2028.
Key Trends in the Market
Customer experience management, also known as CXM or CEM, refers to the set of procedures employed by a company to monitor, supervise, and structure all engagements between a customer and the organisation across the entire customer journey. However, a different software, known as customer relationship management software, is utilised as a tool to encompass all touchpoints and understand, manage, and improve the customer experience.
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- Providing exceptional customer experiences has become a crucial differentiator for businesses, which is propelling the customer experience management software market demand. This type of software empowers organisations with the necessary tools to collect valuable customer feedback, assess satisfaction levels, and pinpoint areas that require enhancement. By leveraging these valuable insights, companies can gain a distinct competitive advantage and cultivate strong customer relationships for long-term success.
- Implementation of artificial intelligence (AI) and automation is one of the major factors propelling the market for customer experience management software. AI-powered chatbots and virtual assistants can provide instant and personalised support to customers, enhancing their experience. Besides, automation capabilities enable businesses to streamline processes, analyse large volumes of customer data, and deliver real-time insights.
- Another trend significantly enhancing the customer experience management software market is the adoption of cloud-based technologies. Cloud-based solutions provide seamless integration with other business systems and ensure data security and privacy. They also enable businesses to access customer data and analytics in real time from any location.
Market Analysis
Based on touchpoint, the market is segmented into web, social media, email, and contact centre, among others. On the basis of the deployment mode, the market can be bifurcated into cloud and on-premises. The market, based on end use, is divided into BFSI, retail, healthcare, IT and telecom, manufacturing, government and utilities, construction and real estate, hospitality, and automotive, among others.
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The major regional markets for customer experience management software are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global customer experience management software market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments and expansion plans.
- Adobe Inc.
- IBM Corporation
- Oracle Corporation
- Avaya Holdings Corp
- NICE Ltd.
- SAP SE
- Verint Systems Inc.
- Open Text Corporation
- Tech Mahindra Limited
- Teradata Corporation
- Sprinklr, Inc.
- Others
Market Share by Deployment Mode
During the forecast period, the on-premises segment is expected to experience significant growth. Numerous companies are transitioning from manual systems to automated systems to streamline their operations. Moreover, the demand for on-premises customer experience management solutions is expected to surge among large enterprises due to the growing emphasis on data privacy.
Market Share by End Use
Call centres are anticipated to hold a major portion of the customer experience management software market share. This can be attributed to the growing inclination towards advanced contact centre technologies, leading to an increased adoption of customer experience management software.
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Furthermore, the deployment of cloud-based and virtual contact centre solutions is on the rise, contributing to the segment's expansion. Businesses are also actively focusing on enhancing customer interactions to achieve higher levels of customer satisfaction, thereby reinforcing the requirement for CEM software in call centres.
Competitive Landscape
Adobe Inc. is one of the global leaders in the software development sector. It was founded in 1982 and has developed multiple software applications for digital media and digital marketing applications. One of the company’s most widely known software includes Adobe Photoshop, a powerful image editing software widely used by photographers, graphic designers, and artists.
IBM Corporation, also known as The International Business Machine Corporation, is a global leader and one of the most influential software companies in the world. The company was founded in 1911 and it is currently headquartered in New York, the United States. IBM is known for its mainframe computers, which are powerful and highly reliable machines used by large enterprises and organisations for critical applications.
Oracle Corporation is one of the largest multinational computer technology corporations based in California, the United States. Since its establishment in 1977, the company has developed multiple software and technologies, as well as enterprise software to cater to various business functions such as finance, human resources, supply chain management, customer experience, and more.
Other market players include Avaya Holdings Corp, NICE Ltd., SAP SE, Verint Systems Inc., Open Text Corporation, Tech Mahindra Limited, Teradata Corporation, and Sprinklr, Inc., among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Touchpoint |
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| Breakup by Deployment Mode |
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| Breakup by End Use |
|
| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Customer Experience Management Software Market Analysis
8.1 Key Industry Highlights
8.2 Global Customer Experience Management Software Historical Market (2018-2022)
8.3 Global Customer Experience Management Software Market Forecast (2023-2028)
8.4 Global Customer Experience Management Software Market by Touchpoint
8.4.1 Web
8.4.1.1 Historical Trend (2018-2022)
8.4.1.2 Forecast Trend (2023-2028)
8.4.2 Social Media
8.4.2.1 Historical Trend (2018-2022)
8.4.2.2 Forecast Trend (2023-2028)
8.4.3 Email
8.4.3.1 Historical Trend (2018-2022)
8.4.3.2 Forecast Trend (2023-2028)
8.4.4 Contact Centre
8.4.4.1 Historical Trend (2018-2022)
8.4.4.2 Forecast Trend (2023-2028)
8.4.5 Others
8.5 Global Customer Experience Management Software Market by Deployment Mode
8.5.1 Cloud
8.5.1.1 Historical Trend (2018-2022)
8.5.1.2 Forecast Trend (2023-2028)
8.5.2 On-premises
8.5.2.1 Historical Trend (2018-2022)
8.5.2.2 Forecast Trend (2023-2028)
8.6 Global Customer Experience Management Software Market by End Use
8.6.1 BFSI
8.6.1.1 Historical Trend (2018-2022)
8.6.1.2 Forecast Trend (2023-2028)
8.6.2 Retail
8.6.2.1 Historical Trend (2018-2022)
8.6.2.2 Forecast Trend (2023-2028)
8.6.3 Healthcare
8.6.3.1 Historical Trend (2018-2022)
8.6.3.2 Forecast Trend (2023-2028)
8.6.4 IT and Telecom
8.6.4.1 Historical Trend (2018-2022)
8.6.4.2 Forecast Trend (2023-2028)
8.6.5 Manufacturing
8.6.5.1 Historical Trend (2018-2022)
8.6.5.2 Forecast Trend (2023-2028)
8.6.6 Government and Utilities
8.6.6.1 Historical Trend (2018-2022)
8.6.6.2 Forecast Trend (2023-2028)
8.6.7 Construction and Real Estate
8.6.7.1 Historical Trend (2018-2022)
8.6.7.2 Forecast Trend (2023-2028)
8.6.8 Hospitality
8.6.8.1 Historical Trend (2018-2022)
8.6.8.2 Forecast Trend (2023-2028)
8.6.9 Automotive
8.6.9.1 Historical Trend (2018-2022)
8.6.9.2 Forecast Trend (2023-2028)
8.6.10 Others
8.7 Global Customer Experience Management Software Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2022)
8.7.1.2 Forecast Trend (2023-2028)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2022)
8.7.2.2 Forecast Trend (2023-2028)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2022)
8.7.3.2 Forecast Trend (2023-2028)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2022)
8.7.4.2 Forecast Trend (2023-2028)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2022)
8.7.5.2 Forecast Trend (2023-2028)
9 North America Customer Experience Management Software Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
10 Europe Customer Experience Management Software Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2022)
10.1.2 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Historical Trend (2018-2022)
10.2.2 Forecast Trend (2023-2028)
10.3 France
10.3.1 Historical Trend (2018-2022)
10.3.2 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Historical Trend (2018-2022)
10.4.2 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific Customer Experience Management Software Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2022)
11.1.2 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Historical Trend (2018-2022)
11.2.2 Forecast Trend (2023-2028)
11.3 India
11.3.1 Historical Trend (2018-2022)
11.3.2 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Historical Trend (2018-2022)
11.4.2 Forecast Trend (2023-2028)
11.5 Australia
11.5.1 Historical Trend (2018-2022)
11.5.2 Forecast Trend (2023-2028)
11.6 Others
12 Latin America Customer Experience Management Software Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2022)
12.1.2 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Historical Trend (2018-2022)
12.2.2 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Historical Trend (2018-2022)
12.3.2 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa Customer Experience Management Software Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2022)
13.1.2 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2022)
13.2.2 Forecast Trend (2023-2028)
13.3 Nigeria
13.3.1 Historical Trend (2018-2022)
13.3.2 Forecast Trend (2023-2028)
13.4 South Africa
13.4.1 Historical Trend (2018-2022)
13.4.2 Forecast Trend (2023-2028)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Adobe Inc.
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 IBM Corporation
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Oracle Corporation
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Avaya Holdings Corp
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 NICE Ltd.
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 SAP SE
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Verint Systems Inc.
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Open Text Corporation
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Tech Mahindra Limited
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Teradata Corporation
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Sprinklr, Inc.
15.2.11.1 Company Overview
15.2.11.2 Product Portfolio
15.2.11.3 Demographic Reach and Achievements
15.2.11.4 Certifications
15.2.12 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Customer Experience Management Software Market: Key Industry Highlights, 2018 and 2028
2. Global Customer Experience Management Software Historical Market: Breakup by Touchpoint (USD Billion), 2018-2022
3. Global Customer Experience Management Software Market Forecast: Breakup by Touchpoint (USD Billion), 2023-2028
4. Global Customer Experience Management Software Historical Market: Breakup by Deployment Mode (USD Billion), 2018-2022
5. Global Customer Experience Management Software Market Forecast: Breakup by Deployment Mode (USD Billion), 2023-2028
6. Global Customer Experience Management Software Historical Market: Breakup by Industry (USD Billion), 2018-2022
7. Global Customer Experience Management Software Market Forecast: Breakup by Industry (USD Billion), 2023-2028
8. Global Customer Experience Management Software Historical Market: Breakup by Region (USD Billion), 2018-2022
9. Global Customer Experience Management Software Market Forecast: Breakup by Region (USD Billion), 2023-2028
10. North America Customer Experience Management Software Historical Market: Breakup by Country (USD Billion), 2018-2022
11. North America Customer Experience Management Software Market Forecast: Breakup by Country (USD Billion), 2023-2028
12. Europe Customer Experience Management Software Historical Market: Breakup by Country (USD Billion), 2018-2022
13. Europe Customer Experience Management Software Market Forecast: Breakup by Country (USD Billion), 2023-2028
14. Asia Pacific Customer Experience Management Software Historical Market: Breakup by Country (USD Billion), 2018-2022
15. Asia Pacific Customer Experience Management Software Market Forecast: Breakup by Country (USD Billion), 2023-2028
16. Latin America Customer Experience Management Software Historical Market: Breakup by Country (USD Billion), 2018-2022
17. Latin America Customer Experience Management Software Market Forecast: Breakup by Country (USD Billion), 2023-2028
18. Middle East and Africa Customer Experience Management Software Historical Market: Breakup by Country (USD Billion), 2018-2022
19. Middle East and Africa Customer Experience Management Software Market Forecast: Breakup by Country (USD Billion), 2023-2028
20. Global Customer Experience Management Software Market Structure
Key Questions Answered in the Report
In 2022, the market reached a value of about USD 11 billion.
The market is projected to grow at a CAGR of 14.40% between 2023 and 2028.
The market is estimated to witness a healthy growth in the forecast period of 2023-2028 to reach around USD 24.66 billion by 2028.
The market growth is being driven by the rising demand for CEM software among enterprises to boost their competitive edge and the increasing efforts of companies to capture large customer bases.
The key trends propelling the market growth include the rising implementation of artificial intelligence and automation and the growing shift towards cloud technologies.
The major regional markets include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The different segments based on the touchpoint of the product are the web, social media, email, and contact centres, among others.
The key players in the customer experience management software market include Adobe Inc., IBM Corporation, Oracle Corporation, Avaya Holdings Corp, NICE Ltd., SAP SE, Verint Systems Inc., Open Text Corporation, Tech Mahindra Limited, Teradata Corporation, and Sprinklr, Inc., among others.
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