Customer Experience Management Market Worth 10.77 Billion USD by 2020

07 Dec, 2015, 11:00 ET from MarketsandMarkets

PUNE, India, December 7, 2015 /PRNewswire/ --

According to a new market research report "Customer Experience Management Market by Touch Points (Company Website, Ranch/Store, Web, and Call Center), by Regions (North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America), by Vertical (IT Communication Service Providers, BFSI, and Others) - Global Forecast to 2020", published by MarketsandMarkets, The global Market is projected to grow from USD 4.36 Billion in 2015 to USD 10.77 Billion by 2020, at a CAGR of 19.9% during the forecast period, 2015 to 2020.

Browse 101 market Tables and 57 Figures spread through 161 Pages sand in-depth TOC on "Customer Experience Management Market"

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In recent years, customers have become increasingly dynamic by embracing the new, digital channels for their work and non-work related activities. They are using mobile devices, including smartphones and tablets, to interact regarding their experiences with a brand. This experience sharing is done through various offline channels as well apart from the online channels including social media and other digital platforms. Therefore, companies such as Nokia Networks, Oracle Corporation, IBM, Adobe Systems Inc., and Tech Mahindra are introducing innovative solutions for their customers. Brands and customer relationships are the two most important assets for most of the organizations. Therefore, most companies today are seeking brand differentiation by designing and delivering highly positive customer experience.

With the increasing churn of customers and the pressure faced by enterprises to sustain growth in the competitive and volatile markets currently, enterprise spending on customer experience management (CEM) solutions has increased significantly. The verticals in which CEM is expected to gain traction are public sector energy & utilities; banking, financial services and insurance (BFSI); healthcare, automotive & transformation, consumer goods & retail, media & entertainment, travel & hospitality, and manufacturing. The North American, Europe, and Asia-Pacific regions are expected to be among the major revenue-generating regional markets for customer experience management. These regional markets are also expected to exhibit high growth during the forecast period of 2015 to 2020. Significant market growth is also expected in the Customer Experience Management Market of the Middle East & Africa and Latin America.

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The report covers all major sub segments of the market and provides quantitative (market size and market growth) and qualitative (trends, analysis, and insights) information for those segments. This comprehensive coverage of the global Customer Experience Management Market   provides important factors governing the market, such as drivers, restraints, and opportunities in this market. It also profiles major players in this market, maps competitive landscape, and provides overall perspective on the global Customer Experience Management Market   for various verticals and regions.

By touchpoints, the market is segmented into company website, branch/store, web, mobile, social media, and email, among others. On the basis of verticals, the market is segmented into IT communication service providers, telecommunication service providers, public sector, energy & utilities; banking, financial services & insurance; healthcare, automotive & transportation, consumer goods & retail, travel & hospitality, manufacturing, and media & entertainment, among others. On the basis of region, the market is segmented into North America (NA), Asia-Pacific (APAC), Europe (EU), Latin America (LA), and the Middle East & Africa (MEA).

The report on the global Customer Experience Management (CEM) Market provides comprehensive information regarding the market along with forecasting of the overall market. It also provides detailed information for various segments, which include touchpoints, verticals, and regions.

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