The global customer advocacy software market is estimated to garner US$ 1.4 Billion while exhibiting a 7.1% CAGR during the forecast period. Mainly due to the availability of smart technologies amongst the masses the global customer advocacy software market has grown by leaps and bounds in recent years. As enterprises strive to attain a competitive edge, customer advocacy is a necessity. Many large enterprises are considering the extraction capabilities for getting valuable insights from big data, which is opportunistic for the market and will help boost the growth of the market.
Also, small and medium-scale businesses are shifting their business to a digital platform, small-scale businesses are using customer advocacy software solutions for several uses and it is helping them to become more productive, smarter, and efficient and also to form a loyal customer base. With increasing cloud-based solutions, the customer advocacy software industry is expected to secure US$ 718 Million in 2022.
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Rising penetration of big data technologies, cloud computing, and other advanced technologies have prompted customer advocacy software providers to transform services to a whole new level. Also, the increasing use of cloud-based technology such as artificial intelligence and big data in many applications impelled the growth of the market. The enterprise propaganda segment is likely to offer remunerative opportunities for the global customer advocacy software market.
Key Takeaways from the Customer Advocacy Software Market Report:
- By type, the cloud-based segment is expected to record a 6.9% CAGR by 2032
- By application, the enterprise propaganda segment is to expand at a 6.8% growth rate during the forecast period
- The U.S market to garner US$ 510 Million and record a 7.0% CAGR from 2022-2032
- Market in China to procure US$ 104.5 Million, expanding at a 6.5% growth rate during the assessment period
Competitive Landscape:
Key players in the global customer advocacy software market include One Click Politics, The Soft Edge, CQ-Roll Call, Capitol Impact, and Capitol Canary among others. Market players are leveraging strategic collaborative initiatives to increase their market share and increase their profitability. Recent developments among key players are:
- In March 2021– Blackbaud the world’s leading cloud software company powering social good, introduced Blackbaud CRM which provides enterprise institutions with a strong foundation to support broader technology initiatives across campus, enabling them to drive fundraising and engagement success.
- In February 2022– Capitol Canary, the leading government affairs technology platform, after acquisitions of KnowWho and GovPredict, which paved the way for the company to provide a comprehensive government affairs solution that combines detailed legislative and regulatory intelligence, proven advocacy tools, and the most accurate policymaker contact data.
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Customer Advocacy Software Market Segmentation:
By Type:
- On-premises
- Cloud-based
By Application:
- Enterprise Propaganda
- Government Election
- Organize Fund-raising
By Region:
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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