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
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- Special coverage on the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession
- Global competitiveness and key competitor positions
- Market presence across multiple geographical footprints – Strong/Active/Niche/Trivial – buy the report!
Customer Experience Management Market – Segmentation Assessment
Segment Overview
Technavio has segmented the market based on component (solution and service), deployment (On-premises and cloud), and geography (North America, Europe, APAC, South America, and Middle East and Africa).
- The market share growth by the solution segment will be significant during the forecast period. These are known as software and technology services that help businesses manage and improve the customer experience. It is widely used in organizations to address various aspects of CEM, allowing organizations to collect customer feedback, analyze data, and execute strategies. In addition, several vendors in the market offer solutions that allow businesses to manage and improve the customer experience. For example, Adobe Experience Cloud offers a full range of CEM solutions. Hence, these factors are expected to drive segment growth during the forecast period.
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
Key Drivers
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?
- CAGR of the market during the forecast period
- Detailed information on factors that will drive the growth of the customer experience management market between 2023 and 2027
- Precise estimation of the size of the customer experience management market and its contribution to the market with a focus on the parent market
- Accurate predictions about upcoming trends and changes in consumer behavior
- Growth of the customer experience management market across North America, Europe, APAC, South America, and the Middle East and Africa
- A thorough analysis of the market’s competitive landscape and detailed information about vendors
- Comprehensive analysis of factors that will challenge the growth of customer experience management market vendors
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| Customer Experience Management Market Scope | |
| Report Coverage | Details |
| Base year | 2022 |
| Historic period | 2017-2021 |
| Forecast period | 2023-2027 |
| Growth momentum & CAGR | Accelerate at a CAGR of 15.23% |
| Market growth 2023-2027 | USD 12,555.32 million |
| Market structure | Fragmented |
| YoY growth 2022-2023 (%) | 14.35 |
| Regional analysis | North America, Europe, APAC, South America, and Middle East and Africa |
| Performing market contribution | North America at 42% |
| Key countries | US, Canada, China, Germany, and UK |
| Competitive landscape | Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
| Key companies profiled | Adobe Inc., Avaya Inc., Freshworks Inc., Genesys Telecommunications Laboratories Inc., International Business Machines Corp., Medallia Inc., Microsoft Corp., NICE Ltd., Nokia Corp., Open Text Corp., Oracle Corp., Qualtrics LLC, SAP SE, SAS Institute Inc., Service Management Group, Sprinklr Inc., Tech Mahindra Ltd., Verint Systems Inc., Zendesk Inc., and Ignite Enterprise Software Solutions Inc. |
| Market dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
| Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of Contents
1 Executive Summary
- 1.1 Market Overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Component
- Exhibit 06: Executive Summary – Chart on Market Segmentation by Deployment
- Exhibit 07: Executive Summary – Chart on Incremental Growth
- Exhibit 08: Executive Summary – Data Table on Incremental Growth
- Exhibit 09: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 10: Parent market
- Exhibit 11: Market Characteristics
3 Market Sizing
- 3.1 Market definition
- Exhibit 12: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 13: Market segments
- 3.3 Market size 2022
- 3.4 Market outlook: Forecast for 2022-2027
- Exhibit 14: Chart on Global – Market size and forecast 2022-2027 ($ million)
- Exhibit 15: Data Table on Global – Market size and forecast 2022-2027 ($ million)
- Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
- Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)
4 Historic Market Size
- 4.1 Global customer experience management market 2017 – 2021
- Exhibit 18: Historic Market Size – Data Table on global customer experience management market 2017 – 2021 ($ million)
- 4.2 Component Segment Analysis 2017 – 2021
- Exhibit 19: Historic Market Size – Component Segment 2017 – 2021 ($ million)
- 4.3 Deployment Segment Analysis 2017 – 2021
- Exhibit 20: Historic Market Size – Deployment Segment 2017 – 2021 ($ million)
- 4.4 Geography Segment Analysis 2017 – 2021
- Exhibit 21: Historic Market Size – Geography Segment 2017 – 2021 ($ million)
- 4.5 Country Segment Analysis 2017 – 2021
- Exhibit 22: Historic Market Size – Country Segment 2017 – 2021 ($ million)
5 Five Forces Analysis
- 5.1 Five forces summary
- Exhibit 23: Five forces analysis – Comparison between 2022 and 2027
- 5.2 Bargaining power of buyers
- Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
- 5.3 Bargaining power of suppliers
- Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
- 5.4 Threat of new entrants
- Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
- 5.5 Threat of substitutes
- Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
- 5.6 Threat of rivalry
- Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
- 5.7 Market condition
- Exhibit 29: Chart on Market condition – Five forces 2022 and 2027
6 Market Segmentation by Component
- 6.1 Market segments
- Exhibit 30: Chart on Component – Market share 2022-2027 (%)
- Exhibit 31: Data Table on Component – Market share 2022-2027 (%)
- 6.2 Comparison by Component
- Exhibit 32: Chart on Comparison by Component
- Exhibit 33: Data Table on Comparison by Component
- 6.3 Solution – Market size and forecast 2022-2027
- Exhibit 34: Chart on Solution – Market size and forecast 2022-2027 ($ million)
- Exhibit 35: Data Table on Solution – Market size and forecast 2022-2027 ($ million)
- Exhibit 36: Chart on Solution – Year-over-year growth 2022-2027 (%)
- Exhibit 37: Data Table on Solution – Year-over-year growth 2022-2027 (%)
- 6.4 Service – Market size and forecast 2022-2027
- Exhibit 38: Chart on Service – Market size and forecast 2022-2027 ($ million)
- Exhibit 39: Data Table on Service – Market size and forecast 2022-2027 ($ million)
- Exhibit 40: Chart on Service – Year-over-year growth 2022-2027 (%)
- Exhibit 41: Data Table on Service – Year-over-year growth 2022-2027 (%)
- 6.5 Market opportunity by Component
- Exhibit 42: Market opportunity by Component ($ million)
- Exhibit 43: Data Table on Market opportunity by Component ($ million)
7 Market Segmentation by Deployment
- 7.1 Market segments
- Exhibit 44: Chart on Deployment – Market share 2022-2027 (%)
- Exhibit 45: Data Table on Deployment – Market share 2022-2027 (%)
- 7.2 Comparison by Deployment
- Exhibit 46: Chart on Comparison by Deployment
- Exhibit 47: Data Table on Comparison by Deployment
- 7.3 On-premises – Market size and forecast 2022-2027
- Exhibit 48: Chart on On-premises – Market size and forecast 2022-2027 ($ million)
- Exhibit 49: Data Table on On-premises – Market size and forecast 2022-2027 ($ million)
- Exhibit 50: Chart on On-premises – Year-over-year growth 2022-2027 (%)
- Exhibit 51: Data Table on On-premises – Year-over-year growth 2022-2027 (%)
- 7.4 Cloud – Market size and forecast 2022-2027
- Exhibit 52: Chart on Cloud – Market size and forecast 2022-2027 ($ million)
- Exhibit 53: Data Table on Cloud – Market size and forecast 2022-2027 ($ million)
- Exhibit 54: Chart on Cloud – Year-over-year growth 2022-2027 (%)
- Exhibit 55: Data Table on Cloud – Year-over-year growth 2022-2027 (%)
- 7.5 Market opportunity by Deployment
- Exhibit 56: Market opportunity by Deployment ($ million)
- Exhibit 57: Data Table on Market opportunity by Deployment ($ million)
8 Customer Landscape
- 8.1 Customer landscape overview
- Exhibit 58: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
9 Geographic Landscape
- 9.1 Geographic segmentation
- Exhibit 59: Chart on Market share by geography 2022-2027 (%)
- Exhibit 60: Data Table on Market share by geography 2022-2027 (%)
- 9.2 Geographic comparison
- Exhibit 61: Chart on Geographic comparison
- Exhibit 62: Data Table on Geographic comparison
- 9.3 North America – Market size and forecast 2022-2027
- Exhibit 63: Chart on North America – Market size and forecast 2022-2027 ($ million)
- Exhibit 64: Data Table on North America – Market size and forecast 2022-2027 ($ million)
- Exhibit 65: Chart on North America – Year-over-year growth 2022-2027 (%)
- Exhibit 66: Data Table on North America – Year-over-year growth 2022-2027 (%)
- 9.4 Europe – Market size and forecast 2022-2027
- Exhibit 67: Chart on Europe – Market size and forecast 2022-2027 ($ million)
- Exhibit 68: Data Table on Europe – Market size and forecast 2022-2027 ($ million)
- Exhibit 69: Chart on Europe – Year-over-year growth 2022-2027 (%)
- Exhibit 70: Data Table on Europe – Year-over-year growth 2022-2027 (%)
- 9.5 APAC – Market size and forecast 2022-2027
- Exhibit 71: Chart on APAC – Market size and forecast 2022-2027 ($ million)
- Exhibit 72: Data Table on APAC – Market size and forecast 2022-2027 ($ million)
- Exhibit 73: Chart on APAC – Year-over-year growth 2022-2027 (%)
- Exhibit 74: Data Table on APAC – Year-over-year growth 2022-2027 (%)
- 9.6 South America – Market size and forecast 2022-2027
- Exhibit 75: Chart on South America – Market size and forecast 2022-2027 ($ million)
- Exhibit 76: Data Table on South America – Market size and forecast 2022-2027 ($ million)
- Exhibit 77: Chart on South America – Year-over-year growth 2022-2027 (%)
- Exhibit 78: Data Table on South America – Year-over-year growth 2022-2027 (%)
- 9.7 Middle East and Africa – Market size and forecast 2022-2027
- Exhibit 79: Chart on Middle East and Africa – Market size and forecast 2022-2027 ($ million)
- Exhibit 80: Data Table on Middle East and Africa – Market size and forecast 2022-2027 ($ million)
- Exhibit 81: Chart on Middle East and Africa – Year-over-year growth 2022-2027 (%)
- Exhibit 82: Data Table on Middle East and Africa – Year-over-year growth 2022-2027 (%)
- 9.8 US – Market size and forecast 2022-2027
- Exhibit 83: Chart on US – Market size and forecast 2022-2027 ($ million)
- Exhibit 84: Data Table on US – Market size and forecast 2022-2027 ($ million)
- Exhibit 85: Chart on US – Year-over-year growth 2022-2027 (%)
- Exhibit 86: Data Table on US – Year-over-year growth 2022-2027 (%)
- 9.9 China – Market size and forecast 2022-2027
- Exhibit 87: Chart on China – Market size and forecast 2022-2027 ($ million)
- Exhibit 88: Data Table on China – Market size and forecast 2022-2027 ($ million)
- Exhibit 89: Chart on China – Year-over-year growth 2022-2027 (%)
- Exhibit 90: Data Table on China – Year-over-year growth 2022-2027 (%)
- 9.10 Canada – Market size and forecast 2022-2027
- Exhibit 91: Chart on Canada – Market size and forecast 2022-2027 ($ million)
- Exhibit 92: Data Table on Canada – Market size and forecast 2022-2027 ($ million)
- Exhibit 93: Chart on Canada – Year-over-year growth 2022-2027 (%)
- Exhibit 94: Data Table on Canada – Year-over-year growth 2022-2027 (%)
- 9.11 Germany – Market size and forecast 2022-2027
- Exhibit 95: Chart on Germany – Market size and forecast 2022-2027 ($ million)
- Exhibit 96: Data Table on Germany – Market size and forecast 2022-2027 ($ million)
- Exhibit 97: Chart on Germany – Year-over-year growth 2022-2027 (%)
- Exhibit 98: Data Table on Germany – Year-over-year growth 2022-2027 (%)
- 9.12 UK – Market size and forecast 2022-2027
- Exhibit 99: Chart on UK – Market size and forecast 2022-2027 ($ million)
- Exhibit 100: Data Table on UK – Market size and forecast 2022-2027 ($ million)
- Exhibit 101: Chart on UK – Year-over-year growth 2022-2027 (%)
- Exhibit 102: Data Table on UK – Year-over-year growth 2022-2027 (%)
- 9.13 Market opportunity by geography
- Exhibit 103: Market opportunity by geography ($ million)
- Exhibit 104: Data Tables on Market opportunity by geography ($ million)
10 Drivers, Challenges, and Trends
- 10.1 Market drivers
- 10.2 Market challenges
- 10.3 Impact of drivers and challenges
- Exhibit 105: Impact of drivers and challenges in 2022 and 2027
- 10.4 Market trends
11 Vendor Landscape
- 11.1 Overview
- 11.2 Vendor landscape
- Exhibit 106: Overview on Criticality of inputs and Factors of differentiation
- 11.3 Landscape disruption
- Exhibit 107: Overview on factors of disruption
- 11.4 Industry risks
- Exhibit 108: Impact of key risks on business
12 Vendor Analysis
- 12.1 Vendors covered
- Exhibit 109: Vendors covered
- 12.2 Market positioning of vendors
- Exhibit 110: Matrix on vendor position and classification
- 12.3 Adobe Inc.
- Exhibit 111: Adobe Inc. – Overview
- Exhibit 112: Adobe Inc. – Business segments
- Exhibit 113: Adobe Inc. – Key offerings
- Exhibit 114: Adobe Inc. – Segment focus
- 12.4 Avaya Inc.
- Exhibit 115: Avaya Inc. – Overview
- Exhibit 116: Avaya Inc. – Business segments
- Exhibit 117: Avaya Inc. – Key offerings
- Exhibit 118: Avaya Inc. – Segment focus
- 12.5 Freshworks Inc.
- Exhibit 119: Freshworks Inc. – Overview
- Exhibit 120: Freshworks Inc. – Product / Service
- Exhibit 121: Freshworks Inc. – Key offerings
- 12.6 Genesys Telecommunications Laboratories Inc.
- Exhibit 122: Genesys Telecommunications Laboratories Inc. – Overview
- Exhibit 123: Genesys Telecommunications Laboratories Inc. – Product / Service
- Exhibit 124: Genesys Telecommunications Laboratories Inc. – Key offerings
- 12.7 International Business Machines Corp.
- Exhibit 125: International Business Machines Corp. – Overview
- Exhibit 126: International Business Machines Corp. – Business segments
- Exhibit 127: International Business Machines Corp. – Key news
- Exhibit 128: International Business Machines Corp. – Key offerings
- Exhibit 129: International Business Machines Corp. – Segment focus
- 12.8 Medallia Inc.
- Exhibit 130: Medallia Inc. – Overview
- Exhibit 131: Medallia Inc. – Product / Service
- Exhibit 132: Medallia Inc. – Key offerings
- 12.9 Open Text Corp.
- Exhibit 133: Open Text Corp. – Overview
- Exhibit 134: Open Text Corp. – Product / Service
- Exhibit 135: Open Text Corp. – Key news
- Exhibit 136: Open Text Corp. – Key offerings
- 12.10 Oracle Corp.
- Exhibit 137: Oracle Corp. – Overview
- Exhibit 138: Oracle Corp. – Business segments
- Exhibit 139: Oracle Corp. – Key news
- Exhibit 140: Oracle Corp. – Key offerings
- Exhibit 141: Oracle Corp. – Segment focus
- 12.11 Qualtrics LLC
- Exhibit 142: Qualtrics LLC – Overview
- Exhibit 143: Qualtrics LLC – Product / Service
- Exhibit 144: Qualtrics LLC – Key offerings
- 12.12 SAP SE
- Exhibit 145: SAP SE – Overview
- Exhibit 146: SAP SE – Business segments
- Exhibit 147: SAP SE – Key news
- Exhibit 148: SAP SE – Key offerings
- Exhibit 149: SAP SE – Segment focus
- 12.13 SAS Institute Inc.
- Exhibit 150: SAS Institute Inc. – Overview
- Exhibit 151: SAS Institute Inc. – Product / Service
- Exhibit 152: SAS Institute Inc. – Key news
- Exhibit 153: SAS Institute Inc. – Key offerings
- 12.14 Service Management Group
- Exhibit 154: Service Management Group – Overview
- Exhibit 155: Service Management Group – Product / Service
- Exhibit 156: Service Management Group – Key offerings
- 12.15 Tech Mahindra Ltd.
- Exhibit 157: Tech Mahindra Ltd. – Overview
- Exhibit 158: Tech Mahindra Ltd. – Business segments
- Exhibit 159: Tech Mahindra Ltd. – Key offerings
- Exhibit 160: Tech Mahindra Ltd. – Segment focus
- 12.16 Verint Systems Inc.
- Exhibit 161: Verint Systems Inc. – Overview
- Exhibit 162: Verint Systems Inc. – Product / Service
- Exhibit 163: Verint Systems Inc. – Key offerings
- 12.17 Zendesk Inc.
- Exhibit 164: Zendesk Inc. – Overview
- Exhibit 165: Zendesk Inc. – Product / Service
- Exhibit 166: Zendesk Inc. – Key offerings
13 Appendix
- 13.1 Scope of the report
- 13.2 Inclusions and exclusions checklist
- Exhibit 167: Inclusions checklist
- Exhibit 168: Exclusions checklist
- 13.3 Currency conversion rates for US$
- Exhibit 169: Currency conversion rates for US$
- 13.4 Research methodology
- Exhibit 170: Research methodology
- Exhibit 171: Validation techniques employed for market sizing
- Exhibit 172: Information sources
- 13.5 List of abbreviations
- Exhibit 173: List of abbreviations
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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