Market Snapshot:
The global customer experience management (CEM) market is expected to grow at a healthy pace during the forecast period, according to the AMA study. Increasing demand for analysing consumer behaviour and high demand for efficient implementation of consumer engagement strategy are expected to be some of the major factors aiding into the growth for the market. However, the market is expected to witness decline in the growth during FY 2020 but it is again expected to rise with a healthy pace after the COVID-19 pandemic is over.
Highlights from Customer Experience Management (CEM) Market Study
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
The key Players profiled in the report are 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).
Geographic Breakdown and Segment Analysis
The Global Customer Experience Management (CEM) market presents a comprehensive analysis of the Customer Experience Management (CEM) market by end-user/application (Customer Segmentations, Dashboard, Knowledge Management, Multi-Channel Data Collection, Negative Feedback Management, Predictive Analysis, Sentiment Analysis, Poll Management, Text Analysis and Others), and by geography (North America, South America, Europe, Asia-Pacific and MEA) along with country level break-up. This section of our report presents a realistic picture of the Global Customer Experience Management (CEM) industry. Investors and Players can easily understand the inherent opportunities and challenges for their products in geographical region of interest.
For instance, while the holds majority of market share of the Customer Experience Management (CEM) market
Analyst at AMA have segmented the market study of Global Customer Experience Management (CEM) market by Type, Application and Region.
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
Market Developments Activities:
In October 2023, Adobe, announced a partnership with Salesforce, a leading provider of cloud-based CRM software. The partnership will integrate Adobe's Experience Cloud platform with Salesforce's Customer 360 platform, enabling businesses to create more personalized and engaging customer experiences across all touchpoints.
In September 2023, Adobe announced a new CEM initiative, Adobe Customer Experience Excellence, to help businesses accelerate their customer experience transformation efforts. The initiative includes a range of resources, such as research, tools, and training, to help businesses design, implement, and measure their customer experience initiatives.
Regulatory Insights:
Stringent Worldwide Government Regulations Regarding Lockdown of Cities' & States' Organizational Operations Reducing the Demand for Customer Experience Solutions
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 to the recent global industry crisis due to 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.