Customer Experience Platforms Market

Customer Experience Platforms Market: Growing Adoption by Small, Medium, and Large Enterprises to Fuel Revenue Growth: Global Industry Analysis 2013-2017 and Opportunity Assessment 2018-2028

  • 2018-11-09
  • REP-GB-7587
  • 350 pages
  • PDF PPT EXCEL
 Customer Experience Platforms Market

An Incisive, In-depth Analysis on the Customer Experience Platforms Market

This study offers a comprehensive, 360 degree analysis on the Customer Experience Platforms market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Customer Experience Platforms market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.

Global Customer Experience Platforms Market Revenue to Expand at a CAGR of 12.7% During the Forecast Period (2018–2028), mainly driven by the High Adoption of Customer Experience Platforms for Improving Customer Satisfaction

Customer experience platforms help enterprises improve their interactions with customers. Customer experience platforms are used by enterprises for determining customer trends as well as issues faced by them by using their feedback about the products as well as services offered to them. The data collected through customer experience platforms is stored and analysed for estimating changes in the behaviour of customers, which helps enterprises improve customer experience. Through customer experience platforms, enterprises can collect data through customer feedback, create a personalised data profile for customers and interact with them through different interaction points. Moreover, customer experience platforms enable the delivery of a personalised experience to customers according to the data collected.

Enterprises from different industry verticals have started facing significant competition, and customer satisfaction is a crucial factor for sustaining in competition. Hence, an increasing number of enterprises are adopting customer experience platforms. The adoption for customer experience platforms is increasing to improve interactions between organisations and customers across all interaction points, which include stores, emails, mobile applications and others. In addition, customer experience platforms help manage interactions through various channels of communication. The rising need for customer satisfaction for improving brand loyalty is one of the prime factors that is significantly driving the customer experience platforms market. Enterprises are leveraging customer experience platforms for creating brand attachments for their customers by delivering real-time feedback and contact centre facilities. With the deployment of customer experience platforms, enterprises are able to manage their customers as separate individuals by providing access through interaction points. Moreover, using customer experience platforms, enterprises are managing the problems faced by customers on a case-to-case basis, which is boosting customer satisfaction and brand loyalty.

The increasing penetration of smartphones as well as Internet connectivity is one of the prime factors driving the customer experience platforms market as the online population is growing. Growth in the online population is boosting the number of interactions between enterprises and their customers through mobile applications and social media, owing to which enterprises are able to run customer experience platforms smoothly as they can quickly and easily gather feedback data from their customers. Moreover, customer experience platforms are playing an important role in the process of converting a new customer into a loyal customer, as these platforms track customer experience and enable enterprises to provide personalized feedback. Improvements in one-on-one communication through different interaction points is another factor responsible for increasing the demand for customer experience platforms.

The global customer experience platforms market is estimated to witness a double-digit CAGR growth rate, and hence, reach US$ 18.97 Bn by 2028. Increasing digitisation due to rapid Internet penetration backed by smart connected devices has significantly driven the global customer experience platforms market. Moreover, the increasing adoption of customer experience platforms by small, medium and large enterprises to improve customer satisfaction and ultimately customer loyalty has also contributed to the growth of the customer experience platforms market. The global customer experience platforms market is segmented on the basis of interaction points, platforms, enterprise size, industry and deployment.

On the basis of interaction point, the customer experience platforms market is segmented into stores, websites, email, call centre, mobile apps and social media. These are interaction points that are used by enterprises while taking feedback from customers for customer experience platforms. The revenue contribution from the mobile apps segment in the customer experience platforms market is expected to expand at a CAGR of 15.2% during the forecast period due to the increasing preference for mobile apps by customers to shop as well as surf. Moreover, customer experience platforms provide mobile phone users the ability to give feedback as per their convenience owing to their easy-to-use nature, which is fuelling the growth of the mobile apps segment of the customer experience platforms market.

On the basis of deployment, the customer experience platforms market is segmented into on-premise and cloud deployment. Among the deployment segments of the customer experience platforms market, the cloud deployment segment holds a major market share due to an increase in the preference of enterprises for customer experience platforms deployed over the cloud to implement a secure, fast and efficient feedback process.

On the basis of platforms, the customer experience platforms market is segmented into Windows, iOS and Android. Among the platform segments of the customer experience platforms market, Android has a major market share due to the rapid penetration of Android smartphones.

On the basis of vertical, the global customer experience platforms market is segmented into IT & Telecommunication, BFSI, healthcare, consumer goods & retail, hospitality, transportation & logistics, media & entertainment and government. The revenue contribution of the consumer goods & retail segment of the customer experience platforms market is expected to expand at a CAGR of 15.1% during the forecast period due to the rapid adoption of customer experience platforms from enterprises in the consumer goods & retail industry vertical for maintaining the quality of products and services offered by them. The adoption of customer experience platforms is also fuelled by increasing competition in the consumer goods & retail industry.

On the basis of enterprise size, the global customer experience platforms market is segmented into small enterprises, medium enterprises and large enterprises. The revenue contribution from the large enterprises segment of the customer experience platforms market is expected to expand at a CAGR of 13.3% during the forecast period as established brands and emerging brands are primarily large enterprises, and these enterprises are increasingly investing in processes to boost customer retention and attraction. This trend is one of the major factors fuelling the demand for customer experience platforms in large enterprises.

On the basis of region, the global customer experience platforms market is segmented into North America, Latin America, Western Europe, Eastern Europe, SEA and others of APAC, China, Japan and MEA. The North America region is expected to dominate the global customer experience platforms market by holding the highest market share by the end of 2018. Increase in the disposable income and the rapid adoption of advanced software, such as customer experience platforms, are some of the key factors driving the North America customer experience platforms market.

Some of the popular vendors of customer experience platforms are:

  • Avaya

  • IBM Corporation

  • Huawei Corporation

  • Qualtrics

  • Zendesk

  • Oracle Corporation

  • OpenText Corporation

  • SAS Institute

  • Adobe Systems Incorporated

  • Cisco Systems, Inc.

  • Tech Mahindra

  • Software AG

  • TCS

Report Synopsis

FMI offers a 10-year forecast for the customer experience platforms market between 2018 and 2028. In terms of value, the customer experience platforms market is expected to register a CAGR of 12.7% during the forecast period. This study demonstrates the global customer experience platforms market dynamics and trends across regions such as North America, Latin America, Western Europe, Eastern Europe, China, Japan, SEA & other APAC and Middle East & Africa, which influence the current nature and the future status of the customer experience platforms market over the forecast period. The popularity of customer experience platforms is increasing due to their adoption by enterprises for improving customer experience and enabling the personalisation of customer feedback.

Report Description

This research report provides a detailed analysis of the customer experience platforms market and offers insights on the various factors influencing the market. This customer experience platforms market study provides a comprehensive assessment of stakeholder strategies and imperatives for succeeding in the business. The customer experience platforms report segregates the market based on deployment, platform, interaction points, vertical & enterprise size as well as across different regions worldwide.

The customer experience platforms market is witnessing high traction since past few years. The adoption of digitalised solutions for maintaining a customer-specific experience model is resulting in the growth of the customer experience platforms market. The increasing importance of customer experience platforms for products as well as services is becoming important for enterprises to sustain in the global competition. In addition, the penetration of Internet connectivity and the simultaneously increasing adoption of smartphones are some of the prime factors fuelling the growth of the customer experience platforms market, as they are boosting the convenience, reliability and efficiency of customer experience management. The popularity of customer experience platforms is increasing and is expected to reach new heights during the forecast period due to the rapid adoption of customer experience platforms in the retail and consumer goods industry.

The report starts with an overview of the global customer experience platforms market in terms of value. In addition, this section from the customer experience platforms report includes the analysis of key trends, drivers and restraints that are influencing the customer experience platforms market. The impact analysis of the key drivers and restraints of the customer experience platforms market are included in this report to provide clients crystal-clear decision-making insights.

The global customer experience platforms market is categorised on the basis of deployment, platform, interaction point, vertical, enterprise size and region. On the basis of deployment, the customer experience platforms market is segmented into cloud deployment and the on-premise deployment of customer experience platforms software. Revenue contribution from the cloud deployment segment of the customer experience platforms market is expected to expand at a CAGR of 13.9% during the forecast period. This growth in customer experience platforms can be attributed to the increasing adoption of cloud deployment by enterprises for getting a centralised data storage and improving the efficiency of the customer experience platforms process.

On the basis of platform, the customer experience platforms market is segmented into Android, Windows and iOS. Among these, the Android platform holds a major share of the customer experience platforms market owing to the highest penetration of Android smartphones due to their low cost and easy availability, and the usages of these devices for customer experience platforms.

On the basis of interaction point, the global customer experience platforms market is segmented into social media, mobile apps, email, stores, websites and call centre. Due to the increasing availability of brands and enterprise-specific mobile applications for generating feedback, the revenue contribution from the customer experience platforms mobile apps segment is expected to expand at a CAGR of 15.2% during the forecast period.

On the basis of vertical, the global customer experience platforms market is segmented into government, IT & Telecommunication, healthcare, BFSI, transportation & logistics, consumer goods & retail, hospitality and media & entertainment. The revenue contribution from the consumer goods & retail segment of the customer experience platforms market is expected to hold a major market share during the forecast period. Consumer goods & retail enterprises are adopting customer experience platforms to establish a better communication platform for their customers.

On the basis of enterprise size, the customer experience platforms market is segmented into small, medium and large enterprises. Considering the demand for customer experience platforms, the large enterprises segment of the customer experience platforms enterprise size segment is expected to grow at the highest CAGR over the forecast period due to the increasing need for customer retention by these enterprises. This projected growth can be attributed to increasing competition from emerging and small-format enterprises that are introducing low-cost products.

The next section highlights a detailed analysis of customer experience platforms across various countries. It provides a market outlook for 2018–2028, and sets the forecast within the context of the customer experience platforms market, which includes the latest technological developments and offerings in the market. This customer experience platforms study discusses the key trends within countries that are contributing to the growth of the customer experience platforms market, as well as analyses the degrees at which drivers influence this market in each region. Key regions and countries assessed in this customer experience platforms report include North America (U.S. and Canada), Latin America (Brazil, Mexico and the rest of Latin America), Western Europe (Germany, Italy, France, Spain, U.K., BENELUX and the rest of Western Europe), Eastern Europe (Russia, Poland, and the rest of Eastern Europe), China, Japan, SEA and other APAC (India, ASEAN, Australia & New Zealand and the rest of SEA) and MEA  (GCC Countries, Turkey, North Africa, South Africa and the rest of MEA).

The customer experience platforms market report evaluates the present scenario and growth prospects of the customer experience platforms market across various regions globally for the period 2018–2028. We have considered 2017 as the base year for the customer experience platforms market, and provided data for the remaining 12 months. The forecast presented in the customer experience platforms market report assesses the total revenue by value across the market. To offer an accurate customer experience platforms market forecast, we started by sizing the current market, which forms the basis of how the customer experience platforms market will develop in the future. Given the characteristics of the customer experience platforms market, we have triangulated the outcome of different types and vertical analysis based on technology trends involved in customer experience platforms.

In addition, it is imperative to note that, in an ever-fluctuating global economy, we not only conduct forecasts in terms of CAGR, but also analyse on the basis of key parameters, such as year-on-year (Y-o-Y) growth, to understand the predictability of the customer experience platforms market and to identify the right opportunities present in the market.

In the final section of the customer experience platforms market report, we have included a competitive landscape to provide clients a dashboard view based on the categories of providers in the value chain, their presence in the customer experience platforms portfolio and key differentiators. This section from the customer experience platforms report is primarily designed to provide clients an objective and detailed comparative assessment of key providers specific to a market segment in the customer experience platforms value chain and the potential players for the same. Customer experience platforms report audiences can gain segment-specific vendor insights to identify and evaluate key competitors based on an in-depth assessment of their capabilities and success in the marketplace. Detailed profiles of customer experience platforms providers are also included in the scope of the report to evaluate their long-term & short-term strategies, key offerings and recent developments in the customer experience platforms market.

Key Segments Covered

  • Interaction Point

    • Stores

    • Websites

    • Email

    • Call Centre

    • Mobile Apps

    • Social Media

  • Deployment

    • Cloud

    • On-Premise

  • Vertical

    • IT & Telecommunication

    • BFSI

    • Healthcare

    • Consumer Goods & Retail

    • Hospitality

    • Transportation and Logistics

    • Media and Entertainment

    • Government

  • Enterprise Size

    • Small Enterprises

    • Medium Enterprises

    • Large Enterprises

  • Platform

    • Windows

    • iOS

    • Android

Key Regions Covered

  • North America

    • U.S.

    • Canada

  • Latin America

    • Brazil

    • Mexico

    • Rest of Latin America

  • Western Europe

    • Germany

    • Italy

    • France

    • Spain

    • U.K.

    • BENELUX

    • Rest of Western Europe

  • Eastern Europe

    • Russia

    • Poland

    • Rest of Eastern Europe

  • Japan

  • China

  • SEA and other APAC

    • India

    • ASEAN

    • Australia and New Zealand

    • Rest of SEA

  • Middle East & Africa

    • GCC Countries

    • Turkey

    • North Africa

    • South Africa

    • Rest of MEA

Customer Experience Platforms Market Reports - Table of Contents

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