The global customer experience management market is anticipated to grow at a CAGR of 15.2% during the forecast period (2022-2028). The major factor expected to drive the market growth is the increasing adoption of digitalization, rapid integration of multichannel touchpoints into a single platform, technological advancements in cloud and artificial intelligence (AI) solutions, and the increasing need to analyze customer data to draw business insights to increase revenue generation. In addition, emerging technologies such as the release of 5G along with the rising adoption of artificial intelligence (AI) and augmented reality (AR) across the industries such as retail, IT and telecom, and BFSI, among others are primarily accelerating the market growth.
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Some major players in the market include Adobe Inc., IBM Corp., and SAP SE, among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers & acquisitions, geographical expansion, partnerships, new product launches, and collaborations, to stay competitive in the market. For instance, in February 2020, Verint System Inc. entered into a partnership with Adobe Inc. to enhance personalized customer journeys by combining experience data from the Verint Experience Cloud along with data from the Adobe Experience Platform. The company added that the companies can leverage customer experience data seamlessly to automate the process of predicting and acting on experienced drivers, the key to anticipating, and meeting customer needs.
Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Component
- By Deployment Type
- By Touchpoint
- By Organization Size
- By Industry Vertical
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- Adobe Inc., IBM Corp., and SAP SE, among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Customer Experience Management Market Report by Segment
By Component
- Solutions
- Services
By Touchpoint
- Websites
- Stores
- Call Centers
- Mobile Apps
- Social Media
- Emails
- Virtual Assistants
- Other Touchpoints
By Deployment Type
- On-Premise
- Cloud-Based
By Organization Size
- Small and Medium Enterprises (SMEs)
- Large Enterprises
By Industry Vertical
- IT and Telecom
- BFSI
- Retail
- Healthcare
- Automotive
- Travel and hospitality
- Media and entertainment
- Public sector
- Others
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