Customer experience management in telecommunications market was predicted to be valued US$11.34 billion in 2022. Between 2022 and 2032, the market is projected to grow at a CAGR of 16.2%, reaching US$ 50.89 billion.
Customers are ready to help businesses improve the services they offer as they become more aware about the services being rendered to them. Many companies are using their increased understanding of the value of customer experiences to improve the quality of the products they offer. This is leading to the market growing.
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Competitive Landscape
Players work together and make investments in companies developing cutting-edge technology to boost the functionality of customer experience solutions. The main companies also participate in a range of mergers, partnerships, acquisitions, and collaborations in order to strengthen their market positions.
In May 2021, Airkit disclosed a $40 million Series B financing round. The company wants to spend money on future-proof CX solutions. In response to the growing need for CX solutions, reusability shortens development cycles, delivers CX for the future, and improves customer experience.
Customer Experience Management (CEM) in Telecommunication Market: Drivers
Customers are growing more knowledgeable about the services provided to them and are eager to assist businesses in providing better services. Many businesses are becoming more aware of the value that their customers’ experiences have and are utilising this to raise the bar for the items they provide. The market is expanding as a result of this.
However, the expense associated with digitising customer experience management is limiting market expansion.
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Customer Experience Management (CEM) in Telecommunication Market: Segmentation
Customer experience management can be divided into many categories based on the different sorts of interactions, verticals, organisations, application markets, and geographic regions. Human-to-human and machine-to-human interactions are two categories into which the different sorts of interaction can be divided.
Human-to-human interaction can be further divided based on the communication channel used, such as in-person, over the phone, over web chat, on social media, or via email. On the basis of the communication channel, machine to human interaction can be further divided into on-call, web chat, social media, and interactive apps. It is divided into companies that manufacture telecom equipment and organisations that provide telecom services based on verticals.
Customer Experience Management (CEM) in Telecommunication: Competition Landscape
Adobe Systems Inc., Tech Mahindra, SAP SE, Medallia, IBM, Oracle Corporation, Verint Systems, Amdocs Inc., HP Development Company, Huawei Technologies Co., Ltd., Ericsson, Cisco Systems Inc., and Clarabridge are a few of the major competitors in the market.
Recently, PersonaDrive, Inc., a pioneer in customer experience management, was bought by McorpCX, Inc., a leader in customer experience software and consultancy. By implementing business tactics including acquisitions, partnerships, and others, companies expand their market.
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The report covers exhaustive analysis on
- Customer Experience Management (CEM) in Telecommunication Market Segments
- Customer Experience Management (CEM) in Telecommunication Market Dynamics
- Historical Actual Market Size, 2013 – 2015
- Supply Chain Analytics Market Size & Forecast 2016 to 2026
- Customer Experience Management (CEM) in Telecommunication Market Current Trends/Issues/Challenges
- Competition & Companies involved
- Technology
- Value Chain
- Customer Experience Management (CEM) in Telecommunication Market Drivers and Restraints
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