Contact Center Solutions Featured Article

Customer Experience Management Market Worth $8.39B by 2019

September 12, 2014

For several years, report after report has highlighted that fact that C-levels around the world have made improving the customer experience a top priority. What executives have come to appreciate is that in a world where the Internet has given buyers more perfect information about their purchasing options, and where the competition is only a click away, differentiated value is increasingly going to be driven by how the customer feels about the buying experience and less on the basis of price.


What this means for sellers is that using sophisticated customer experience management (CEM) technology to create enhanced customer experiences and use big data and analytics to anticipate and meet customer expectations is becoming an urgent addition to IT environments. This is a growing business, as detailed in a new report, “Customer Experience Management Market (VOC Analytics, Feedback Management, Web Analytics, Text Analytics, Speech Analytics) - Advanced Technologies, Touch Points, Adoption Trends, Market Size & Forecasts (2014 – 2019),” now available from MarketsandMarkets.

As the headline states, this new 256-page report found that the CRM market will grow from $3.77 billion in 2014 to $8.39 billion in 2019. This represents a Compound Annual Growth Rate (CAGR) of 17.3 percent from 2014 to 2019.

This is a comprehensive report that has segmented the CEM market in a variety of ways, including by type, touch point, organization size, region, and vertical. Plus, type is segmented into enterprise feedback management, Web analytics, speech analytics, and text analytics. Customer experience management by touch point is segmented into company website, branch/store, Web, call center, and social media. Customer experience management is segmented by organization size into small and medium enterprises and enterprises. Customer experience management is segmented by vertical into communication service provider, public sector, energy, and utilities, banking and financial services, healthcare, automotive and transportation, consumer goods and retail, media and entertainment, travel and hospitality, and manufacturing. Customer experience management is segmented by region into North America, Latin America, Europe, Asia–Pacific, and Middle East and Africa.

In addition, the report looks at who the major players are and where the industry is trending. The big trend of course is the fact that next generation CEM solutions are being given careful consideration as enterprises of all sizes seek better ways to attract and keep customers and better monetize their relationships in a world where product and services are becoming commoditized and a fickle customer base is quick to find and select alternatives. 




Edited by Alisen Downey



Home