Customer Experience Management Market Is Driven By The Growing Need To Enhance Customer Experience And Improve The Customer Satisfaction Levels | TechSci Research

 According to TechSci Research, Global customer experience management market is expected to grow at an impressive rate during the forecast period. The global customer experience management market is driven by the growing need to enhance customer experience and improve the customer satisfaction levels. Additionally, increasing deployment of advanced technologies such as AI, big data analytics solution, IoT, Cloud Computing, Machine Learning, among others to provide better, more reliable and efficient customer services which can reduce customer churn rates are further expected to propel the market through 2027. 

Furthermore, increasing investments, R&D and new product launches by the major vendors operating in the market is expected to create lucrative opportunities for the market growth over the next few years. However, lack of awareness pertaining to the availability of such technologies can hamper the market growth. Besides, high cost coupled with reluctance among consumers in choosing the appropriate technology can further impede the market growth during the forecast period.

The global customer experience management market is segmented based on component, deployment mode, touch point, organization size, end user industry, company, and region. Based on deployment mode, the market can be bifurcated into on-premises and cloud. The cloud segment is expected to dominate the market on account of the flexibility, scalability, 24/7 availability, large storage space, among others associated with cloud. Based on touch point, the market can be categorized into social media, branches/stores, the web, call centers, company website, email, mobile and others. The mobile segment is expected to register significant growth in the market through 2027. This can be ascribed to the rising use of mobile phones among the consumers, increasing number of mobile applications and growth in mobile marketing.

Regionally, the customer experience management market has been segmented into various regions including Asia-Pacific, North America, South America, Europe, and Middle East & Africa. Among these regions, North America is expected dominate the overall customer experience management market owing to the early adoption of technologies in the region.

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The major players operating in the customer experience management market Adobe Systems, Inc., Oracle Corporation, SAP SE, IBM Corporation, Avaya Inc., NICE Systems, Nokia, OpenText, Tech Mahindra, Verint Systems, and others. Major companies are developing advanced technologies and launching new services to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new service developments. For instance, In March 2021, Oracle partnered with TWINSET, an Italian Clothing Brand, for providing the company with Oracle Retail’s modern point-of-service (POS) technology. This technology enhances customer experience at TWINSET stores by providing all transactional details to the in-store staff thus helping them suggest customers necessary styling and information related to the latest merchandise and more.

Objective of the Study:

  1. To analyze and estimate the market size of global customer experience management market from 2017 to 2020.
  2. To estimate and forecast the market size of global customer experience management market from 2021 to 2027 and growth rate until 2027.
  3. To classify and forecast global customer experience management market based on component, deployment mode, touch point, organization size, end user industry, company and regional distribution.
  4. To identify dominant region or segment in the global customer experience management market.
  5. To identify drivers and challenges for global customer experience management market.
  6. To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global customer experience management market.
  7. To identify and analyze the profile of leading players operating in global customer experience management market.
  8. To identify key sustainable strategies adopted by market players in global customer experience management market.


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TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of service providers across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the service providers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the service providers, distribution channels and presence of all major players across the globe.

TechSci Research calculated the market size of global customer experience management market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research. 

Key Target Audience:

  1. Customer experience management service provider companies
  2. Market research and consulting firms
  3. Government bodies such as regulating authorities and policy makers
  4. Organizations, forums and alliances related to customer experience management

The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as service providers, suppliers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.

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