The global Customer Experience Management (CEM) Market is set to grow at a significant CAGR during the forecast period. Customer experience management and customer relationship management involve a diverse set of processes. CRM methods and processes have resulted in minimizing turnaround time and costs for companies whereas CEM dynamics revolve around customer expectations and loyalty to the companies they do business with. The basic recipe for good customer experience management is to turn customers from satisfied to loyal. In addition, the customer experience solutions operate as cross-channel, cross-touchpoint, and cross-lifecycle.
The CEM market is driven by an increase in the use of personalization technology to enhance customer service in the service industries. CEM represents a set of technologies to enable a constant transformation within organizations in order to meet and determine customer expectations. Business organizations have acknowledged the essential need for customer experience since it helps organizations to leverage the brand value and help in customer loyalty, which in turn, reduces customer turnaround time. Moreover, the rise in complexity in the IT & Telecom sector involves challenges and complexity
The deployment segment for the customer experience management (CEM) market comprises cloud and on-premises. The end-user category for the CEM industry entails healthcare, BFSI, IT & Telecom, manufacturing & government, and energy & utilities. Touchpoint segment comprises social media, Email, and call centers.
Geographical segmentation for customer experience management (CEM) market spans North America, South America, Europe, Asia-Pacific, Middle East, and Africa. North American and European markets are more likely to outgrow in the global market owing to constantly evolving business models and the use of digital technology for customer empowerment. In addition, technological advances in cloud and big data analytics enhance the end-to-end customer experience process. The key players profiled in the customer experience management (CEM) industry report are IBM Corporation, Oracle Corporation, Adobe Systems, Nokia Networks, and Avaya Inc.
Customer Experience Management (CEM) Analytical Tool Outlook (Revenue, USD Million, 2014 - 2025)
• Enterprise Feedback Management (EFM) software
• Speech analytics
• Text analytics
• Web analytics
• Other analytics
Customer Experience Management (CEM) TouchPoint Type Outlook (Revenue, USD Million, 2014 - 2025)
• Stores/ branch
• Call Centers
• Social Media
• Web services
Customer Experience Management (CEM) Deployment Outlook (Revenue, USD Million, 2014 - 2025)
Customer Experience Management (CEM) End-User Outlook (Revenue, USD Million, 2014 - 2025)
• IT & Telecom
• Government, Energy & utilities
Customer Experience Management (CEM) Regional Outlook (Revenue, USD Million, 2014 - 2025)
• North America
• Rest of Europe
• Asia Pacific
• Rest of APAC
• Latin America
• Rest of Latin America
• Middle East & Africa
Research Support Specialist, USA
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