Market Definition
Customer experience management (CEM) is a category of software that helps organizations track and manage customer interactions and feedback. This can include everything from customer service and support to marketing and sales.
CEM technology can help organizations to get a 360-degree view of the customer, understand their needs and preferences, and provide them with a personalized experience. It can also help to identify and resolve issues quickly, improve customer satisfaction, and increase loyalty.
CEM technology can be deployed in a number of ways, including on-premise, cloud-based, or as a hybrid solution. It is often integrated with other enterprise systems, such as CRM and ERP.
Market Outlook
The major drivers for this market are the need to reduce customer churn and increase customer loyalty and the need to provide personalized customer experience.
Some of the key trends in the customer experience management market are:
- The increasing adoption of cloud-based solutions: Cloud-based solutions offer many benefits such as scalability, flexibility, and cost-effectiveness. They are therefore being increasingly adopted by organizations of all sizes.
- The increasing adoption of artificial intelligence: AI-powered solutions help organizations to automate various tasks such as customer segmentation, customer profiling, and customer journey mapping.
- The increasing adoption of omnichannel solutions: Omnichannel solutions provide a seamless and consistent customer experience across all channels. This is becoming increasingly important as customers use multiple channels to interact with brands.
- The increasing use of analytics: Analytics is playing an increasingly important role in customer experience management. It helps organizations to understand customer behavior and preferences and to make better decisions about how to improve the customer experience.
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Research Objectives
• Estimates and forecast the overall market size for the total market, across product, service type, type, end-user, and region
• Detailed information and key takeaways on qualitative and quantitative trends, dynamics, business framework, competitive landscape, and company profiling
• Identify factors influencing market growth and challenges, opportunities, drivers and restraints
• Identify factors that could limit company participation in identified international markets to help properly calibrate market share expectations and growth rates
• Trace and evaluate key development strategies like acquisitions, product launches, mergers, collaborations, business expansions, agreements, partnerships, and R&D activities
• Thoroughly analyze smaller market segments strategically, focusing on their potential, individual patterns of growth, and impact on the overall market
• To thoroughly outline the competitive landscape within the market, including an assessment of business and corporate strategies, aimed at monitoring and dissecting competitive advancements.
• Identify the primary market participants, based on their business objectives, regional footprint, product offerings, and strategic initiatives
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Market Segmentation
The Customer Experience Management Market is segmented into Analytical Tools, Touch Point Type, Deployment, End-Use, and Region. Based on Analytical Tools, the Customer Experience Management Market is segmented into EFM Software, Speech Analytics, Text Analytics, Web Analytics & Content Management, and Others. Based on Touch Point Type, the market is segmented into Stores/Branches, Call Centers, Social Media Platform, Email, Mobile, Web Services, and Others. Based on Deployment, the market is bifurcated into Cloud and On-Premises. Based on End-Use, the market is segmented into BFSI, Retail, Healthcare, IT & Telecom, Manufacturing, Government, Energy & Utilities, Construction, Real Estate & Property Management, Service Business, and Others. Region-wise, the market is segmented into North America, Europe, Asia-Pacific, and Rest of the World.
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Major Players
Some of the key players of Customer Experience Management Market are Adobe (US), Avaya Inc. (India), Clarabridge (US), Freshworks Inc. (US), Genesys (US), IBM Corporation (US), Medallia Inc. (US), Open Text (Canada), Oracle (US), and Qualtrics (US).
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Research Scope
• Scope – Highlights, Trends, Insights. Attractiveness, Forecast
• Market Sizing – Product Type, End User, Offering Type, Technology, Region, Country, Others
• Market Dynamics – Market Segmentation, Demand and Supply, Bargaining Power of Buyers and Sellers, Drivers, Restraints, Opportunities, Threat Analysis, Impact Analysis, Porters 5 Forces, Ansoff Analysis, Supply Chain
• Business Framework – Case Studies, Regulatory Landscape, Pricing, Policies and Regulations, New Product Launches. M&As, Recent Developments
• Competitive Landscape – Market Share Analysis, Market Leaders, Emerging Players, Vendor Benchmarking, Developmental Strategy Benchmarking, PESTLE Analysis, Value Chain Analysis
• Company Profiles – Overview, Business Segments, Business Performance, Product Offering, Key Developmental Strategies, SWOT Analysis
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