The customer experience management system helps to identify customer needs, product problems and provides solutions to improve customer lifecycle. Increasing demand for customer satisfaction, the increasing need to manage customer experience management, customer retention and competitive environment are the factors boosting the growth of the customer experience market.
Customer experience managementan be defined as a process by which a company tracks the interaction between consumers and the organizations. This process takes place throughout a particular consumer lifecycle. The organization has a customer experience management process to meet consumer requirements and loyalty. Customer experience management requires an extensive strategy to manage customer experiences.
Customer Experience Management Market is Also, the presence of call centers across industry verticals manage customer queries and increasing need to retain customer through calls in order to reduce cost is expected to boost the market over the forecast period, 2017-2023.
Major Key Players:
- IBM Corporation (U.S.)
- SAS Institute Inc. (U.S.)
- Adobe Systems Incorporated (U.S.)
- Tech Mahindra Limited (India)
- Oracle Corporation (U.S.)
- Open Text Corporation (Canada)
- Nokia Networks (Finland)
- Avaya Inc. (U.S.)
- SDL (U.K.)
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Customer Experience Management Market:
According to Market Research Future, market has been segmented into touch point, end-users and region.
On the basis of end-users, the market has been segmented into banking & finance, manufacturing, government, IT & telecommunications, energy & utilities, healthcare, automotive, media & entertainment among others.
Out of these end-users, manufacturing segment accounted for the largest market share, majorly due to the growing focus of manufacturing companies on retaining customers and acquiring new customers. Also, the manufacturing sector face various challenges such as high operational cost and other economic factors. Manufacturing companies focus on customer experience management to achieve business profitability.
Regionally, North-America accounted for the largest market share, increased adoption of new technological solutions, regional growth of the customer experience management and increasing customer expectations.
However, Asia-Pacific region is expected to grow over the forecast period, 2017-2023. The reason is attributed to the increasing competition among major players, increasing consumer needs and the availability of new technological solutions.
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- Research firms
- Consultancy firms
- Software Developers
- Semiconductor Manufacturers
- End-user sectors
- Technology Investors
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