Customer Experience Management (CEM) In Telecommunication Market Scope
The global customer experience management (CEM) In telecommunication market is expected to grow at a healthy pace during the forecast period, according to the AMA study. Increasing demand for analyzing consumer behaviour and high demand for efficient implementation of consumer engagement strategy is expected to be some of the major factors aiding into the growth for the market. However, the market is expected to witness a decline in growth during FY 2020 but it is again expected to rise with a healthy pace after the COVID-19 pandemic is over.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Bitrix (United States), Zoho Corporation (India), Oracle (United States), IBM (United States), Microsoft (United States), Agile CRM (United States), SAP (Germany), SAS Institute, Inc (United States), Cisco Systems, Inc. (United States), Groove Networks (United States), SmartKarrot, Inc. (United States), Freshworks Inc. (United States) and Adobe (United States) |
CAGR | % |
The vendors in this market are majorly focusing on developing innovative products and solutions in order to cater to the market's demands to remain competitive in the global market. According the recent global industry crisis due to the outbreak of COVID-19 is expected to be one of the major challenges for the vendors of this market as the production and markets of different industries have been shut down for an ambiguous period of time. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Customer Experience Management (CEM) In Telecommunication market throughout the predicted period.
Bitrix (United States), Zoho Corporation (India), Oracle (United States), IBM (United States), Microsoft (United States), Agile CRM (United States), SAP (Germany), SAS Institute, Inc (United States), Cisco Systems, Inc. (United States), Groove Networks (United States), SmartKarrot, Inc. (United States), Freshworks Inc. (United States) and Adobe (United States) are some of the key players that are part of study coverage.
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Customer Experience Management (CEM) In Telecommunication market by Type , by Application (Customer Segmentations, Dashboard, Knowledge Management, Multi-Channel Data Collection, Negative Feedback Management, Predictive Analysis, Sentiment Analysis, Poll Management, Text Analysis and Others) and Region with country level break-up.
On the basis of geography, the market of Customer Experience Management (CEM) In Telecommunication 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).
region held largest market share in the year 2022.
Market Leaders and their expansionary development strategies
In August 2023, SAP, a leading provider of enterprise software, announced its merger with Qualtrics, a provider of cloud-based feedback management software. The merger will create a unified CEM platform that combines SAP's enterprise expertise with Qualtrics' feedback management capabilities, enabling businesses to collect, analyze, and act on customer feedback in real-time.
In October 2023, Salesforce announced the launch of its new Customer Experience Platform (CX Platform). The CX Platform is a unified platform that brings together all of Salesforce's tools for managing customer data, marketing campaigns, customer service interactions, and communication channels. The platform is designed to help businesses create seamless, personalized, and engaging customer experiences across all channels.
Stringent Worldwide Government Regulations Regarding Lockdown of Cities' & States' Organizational Operations Reducing the Demand for Customer Experience Solutions
Influencing Trend:
Implementation of Artificial Intelligence in Consumer Experience Management Solutions
Market Growth Drivers:
Increasing Demand for Analysing Consumer Behaviour and High Demand for Efficient Implementation of Consumer Engagement Strategy
Challenges:
Difficulty in Getting Consistent Customer Experience Feedback Through all Channels and Short-term Challenges due to Reduced Sales & Demand Across Different Markets
Restraints:
Difficulty in Synchronizing Customer Experience Data Collected from Different Touchpoints within Different Domains
Opportunities:
Opportunities in the Asia Pacific Region
Key Target Audience
Consultancy firms, Software Developers, Vendors and Others