About Consumer Engagement Solutions
The Consumer Engagement Solution is a collection of consumer engagement software and services that work together to handle customer communications and interactions across multiple channels and touchpoints. Because of the benefits associated with consumer engagement solutions, businesses all over the world are showing an interest in implementing them. Consumer engagement solutions provide omni-channel platform, reporting and analytics, workforce optimization, automation, engagement application development, self-service, and a variety of other services. Some of the major factors driving the growth of the global customer engagement solutions market include the increasing use of e-commerce platforms, the growing adoption of customer engagement solutions, as well as smartphones and tablets. Customer service is the primary factor that encourages consumers to show brand loyalty, resulting in consistent revenue for businesses across industries. Customer engagement software aids in the management of customer communications and interactions across multiple channels and touchpoints.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The customer engagement solutions market is fragmented due to the market consists of various new and major vendors with a strong focus on the small and medium enterprises that compete in the large enterprise segment. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Consumer Engagement Solutions market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Aspect Software (United States), Avaya (United States), Calabrio (United States), Genesys (United States), IBM (United States), Microsoft (United States), Nuance Communications (United States), OpenText (Canada), Oracle (United States) and SAP (Germany) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are ServiceNow (United States), eGain Corporation (United States), CRMnext (India) and Eptica (France).
Segmentation Overview
AMA Research has segmented the market of Global Consumer Engagement Solutions market by and Region.
On the basis of geography, the market of Consumer Engagement Solutions has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Industry Vertical, the sub-segment i.e. Banking, Financial Services, and Insurance will boost the Consumer Engagement Solutions market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Solution/Service Type, the sub-segment i.e. Solution will boost the Consumer Engagement Solutions market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing Adoption of Tablets and Smartphones
Market Growth Drivers:
Increasing Use of E-Commerce Platforms, Increasing Focus on Delivering Enhanced Customer Engagement through Omnichannel and Integration of IoT with Consumer Engagement Solutions
Challenges:
Managing Security With Multiple Customer Touchpoints
Restraints:
Complexities Related to the Implementation and Data Security and Privacy Concerns
Opportunities:
Increased Applicability of Big Data and Machine Learning and Rising investment in Artificial Intelligence
Market Leaders and their expansionary development strategies
In January 2024, Healthtech unicorn Innovaccer has acquired a digital marketing and customer relationship management startup Cured.Innovaccer will leverage Cured’s expertise in patient and member outreach, engagement, and growth strategy.
In September 2023, Kognitiv Corporation delivers AI-powered loyalty and data activation solutions to enable highly effective personalization and optimization of the customer experience. Kognitiv is thrilled to add Kognitiv Ignite to its innovative, omni-channel SaaS platform. This transformative AI-native, outcome-based, one-to-one personalization software has been designed to reshape and propel brands' customer engagement strategies across owned channels.
Key Target Audience
Software providers, Technology providers, Providers of Customer Engagement Solutions and Services, Suppliers of IT Hardware/Software/Services, IT Infrastructure Providers, Marketing Analytics Executives, System Administrators and App Developers
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.