Customer Experience Management Market to grow by USD 12.55 billion from 2022 to 2027 | Increasing focus on customer-centricity among organizations to boost the market- Technavio
NEW YORK, Aug. 17, 2023 /PRNewswire/ -- The customer experience management market is estimated to grow by USD 12,555.32 million from 2022 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 15.23%. The growth momentum will progress during the forecast period. North America held the largest share of the global market in 2022, and the market in the region is estimated to witness an incremental growth of 42%. The growth in the region is due to the presence of prominent vendors such as Microsoft Corp. (Microsoft), and Oracle Corp. Furthermore, these companies provide cutting-edge services to local businesses, making the cloud more relevant in developing markets. A variety of regional industries are increasingly adopting customer experience management solutions which are also driving market growth in the region. For more insights on the historic period (2017 to 2021) and forecast market size (2023 to 2027) - Request a sample report
Customer Experience Management Market - Segmentation Assessment
Insights on the market contribution of various segments, including country and region wise historic data (2017 to 2021), and forecast market size (2023 to 2027) - Download a Sample Report
Customer Experience Management Market – Market Dynamics
The increasing focus on customer-centricity among organizations is a key factor driving market growth. Many companies invest in CEM solutions to obtain a deeper understanding of customer needs, preferences, and behaviors. Businesses can uncover insights, collect customer feedback, and analyze data, using CEM tools that help them deliver a personalized and meaningful experience. Additionally, helping companies align their strategies, processes, and resources to meet customer expectations is a key benefit. Hence, the increasing focus on customer-centricity among organizations is expected to drive market growth during the forecast period.
Major Trends- The growing recent developments are a major trend in the CEM market.
Significant Challenges- Privacy and security concerns associated with CEM solutions are one of the significant challenges restricting market growth.
Insights on Market Drivers, trends, & Challenges, historic period(2017 to 2021), and forecast period(2023 to 2027)- Request a sample report!
What are the key data covered in this Customer Experience Management Market report?
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Customer Relationship Management (CRM) in Healthcare Market is estimated to grow at a CAGR of 8.85% between 2022 and 2027. The market size is forecasted to increase by USD 8.01 billion. Furthermore, this report extensively covers market segmentation by component (software and services), deployment (on-premise model and cloud-based model), and geography (North America, Europe, APAC, South America, and the Middle East and Africa). The growing demand for personalized healthcare services and patient engagement solutions is notably driving market growth.
The SaaS customer relationship management (CRM) market is estimated to grow at a CAGR of 13.43% between 2022 and 2027. The size of the market is forecast to increase by USD 59,426.56 million. Furthermore, this report extensively covers market segmentation by end-user (retail, BFSI manufacturing, telecom and it, and others), application (service and support, sales, marketing, and e-commerce), and geography (North America, Europe, APAC, South America, and Middle East and Africa). The focus on customer engagement is notably driving the SaaS customer relationship management market growth.
Table of Contents
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Component
7 Market Segmentation by Deployment
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
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