Customer Experience Platforms Market is projected to reach ~US$ 18,972.7 Million by 2028

The customer experience platforms market revenue totaled ~US$ 7,753.9 Million in 2021, according to Future Market Insights (FMI). The overall customer experience platforms market is projected to reach ~US$ 18,972.7 Million by 2028, growing at a CAGR of 13.9% for 2022 – 28.

A senior research analyst says while offering the market background, “Tremendous competition across industries is driving the critical need for customer retention and necessitating the regulation of customer churn rate. Businesses are thus increasingly preferring an extensive availability of a range of extension points to connect with their customer bases in an effort to survive the competitive scenario in the customer experience platform landscape”. Adding further to it, the analyst says,

“The approximately US$ 5 Bn market for customer experience platforms is likely to demonstrate over 10% year on year growth in revenue in 2019”.

In the wheel of fortune, the report categorizes various market segments on the basis of their rate of growth projected for the next decade old period. A majority of market segments fall in the high and medium growth quadrants. End use verticals such as consumer goods and retail, and hospitality, in addition to IP segments such as social media and mobile apps occupy the high growth quadrant.

Get a Sample Copy of Report @
https://www.futuremarketinsights.com/reports/sample/rep-gb-7587

Key Research Findings At A Glance

  • Robust yearly revenue growth of around 12% estimated for mobile apps as the highly attractive interaction point is primarily driven by exceptional penetration of smartphone technology. Around 1/4th share of the current market revenue is contributed by mobile applications.
  • Cloud as a deployment model is winning a heavy incremental opportunity translating further into a larger share of more than 55% over on premise segment in the customer experience platforms landscape.
  • Consumer goods and retail sector, currently holding around 1/4th share of the total market revenue, is observing a hefty incremental opportunity. Hospitality is also rapidly emerging attractive end use vertical for CX platform vendors owing to the considerable yearly growth anticipated post 2020.
  • Large enterprises continues to reign supreme over small and medium sized enterprises in terms of deployment of customer experience platforms. Maximum business opportunity resides in the Android segment.

FMI Recognizes Significant Growth Potential in Developing Regional Markets for Customer Experience Platforms

North America continues to lead the pack globally in customer experience platforms landscape, whereas substantial growth opportunities lie in the South Eastern Asia and rest of Asia Pacific region.

A collective revenue share of over 28% from the eastern and western parts of Europe represent the significant position of European region in customer experience platforms ecology.

While customer centric approach of CX platform vendors is identified to be the key driver for North America’s market, ever-growing digitization is pushing the scenario in Asia Pacific, wherein spectacular growth opportunities are spotted in India and ASEAN countries.

A majority of key market players have strong presence across developing economies in Japan and MEA.

Maintaining the Customer Centric Approach Helps CX Platform Vendors Deliver Customer Satisfaction at An Improved Level

Vendors of customer experience platforms are focusing more on end user requirements, in addition to ever-evolving business requirements.

Fostering adoption of IoT and connected technologies is fueling adoption of customer experience platforms based on end user perceptions.

Centralization of customer data that has been collected from the various points of interaction is enabling vendors to develop a personalized approach to delivering top notch customer experience.

Ask An Analyst @
https://www.futuremarketinsights.com/ask-the-analyst/rep-gb-7587

CX Platform Vendors to Tap into the White Spaces in Predictive Analytics Integration

Future Market Insights report on customer experience platforms landscape reveals that the vendors are leveraging the opportunities residing in the integration of predictive analytics into their existing CX platform offerings.

With more than 40% share of the current market revenue, Tier 1 players are reportedly delivering best-in-industry offerings in wider portfolios, imparting significant regional coverage. Tier 2 companies on the other side include some of the highly important companies that hold the potential to transit to the Tier 1 category. Although Tier 3 players are relatively new entrants and hold limited presence at a global level, they reflect growth at a rapid pace.

Customer Experience Platforms Market Outlook By Category

By Interaction Point:

  • Stores
  • Websites
  • Email
  • Call Centre
  • Mobile Apps
  • Social Media

By Deployment:

  • Cloud
  • On-Premise

By Vertical:

  • IT & Telecommunication
  • BFSI
  • Healthcare
  • Consumer Goods & Retail
  • Hospitality
  • Transportation and Logistics
  • Media and Entertainment
  • Government

By Enterprise Size:

  • Small Enterprises
  • Medium Enterprises
  • Large Enterprises

By Platform:

  • Windows
  • iOS
  • Android

By Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • SEA and other of APAC
  • Japan
  • China
  • Middle East and Africa (MEA)

Request Customization @
https://www.futuremarketinsights.com/customization-available/rep-gb-7587

Related Link :

https://www.zedlike.com/blogs/38112/Skills-Management-Software-Market-In-Depth-Analysis-Growth-Strategies-and

https://twikkers.nl/blogs/93263/Skills-Management-Software-Market-In-Depth-Analysis-Growth-Strategies-and

https://www.spoke.com/topics/skills-management-software-market-in-depth-analysis-growth-strategies-and-comprehensive-forecast-to-2022-2032-63bd681c08939196bc01e0d4

https://www.evernote.com/shard/s358/sh/111423ae-3606-2e19-db84-d5911689ac7c/322719ba19f097a93e9815d81eee870d

https://www.tumblr.com/impossibledeanmakerwombat/706066355349225472/skills-management-software-market-in-depth

About Us

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact Us:
Future Market Insights,
Unit No: 1602-006,
Jumeirah Bay 2,
Plot No: JLT-PH2-X2A,
Jumeirah Lakes Towers,
Dubai,
United Arab Emirates
For Sales Enquiriessales@futuremarketinsights.com
Websitehttps://www.futuremarketinsights.com
LinkedInTwitterBlogs

About the Author

Nikhil Kaitwade

Associate Vice President at Future Market Insights, Inc. has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

Leave a Reply

Your email address will not be published. Required fields are marked *

You may also like these