Customer Experience Management Market

Adobe Systems (US) and IBM (US) are leading players in Customer Experience Management Market

MarketsandMarkets expects the customer experience management market to grow from USD 7.8 billion in 2019 to USD 14.5 billion by 2024, at a CAGR of 13.3% during the forecast period. Customer Experience Management (CEM) is a set of processes that are used to track customer feedback, understand customer expectations, and improve the overall customer experience, in order to help businesses reach new markets through different touchpoints. The need to improve customer engagement and reduce customer churn rate is driving companies to adopt customer experience management solutions.

Key and emerging market players include Adobe Systems (US), Oracle Corporation (US), SAP (Germany), IBM (US), Avaya Inc. (US), NICE Systems (Israel), Nokia (Finland), OpenText (Canada), Tech Mahindra (India), Verint Systems (US), Zendesk (US), SDL (UK), MaritzCX (US), Medallia (US), InMoment (US), SAS Institute (US), Clarabridge (US), and Sitecore (US). These players have adopted various strategies to grow in the customer experience management market.

To know about the assumptions considered for the study download the pdf brochure

Adobe Systems entered the customer experience management market with its product Adobe Experience Cloud and has become a pioneer in offering digital experience solutions to enterprises worldwide. The company is focused on inorganic growth strategies to strengthen its market position. For instance, in 2018, the company acquired Magento and Marketo to drive its revenue growth in the coming years. The company also concentrates on increasing its innovative capabilities by spending approximately 17% of its revenue on R&D consecutively in fiscal years 2016, 2017, and 2018.

IBM offers an elaborate range of products in the customer experience management market through its AI-based solution IBM Watson. The company offers various solutions in the form of predictive analytics, premium insights, and web content management, among others, providing end-to-end solutions in the market. The company has been able to maintain a leading position globally owing to its capabilities as cognitive solutions and cloud platform provider through which it has been able to create a wide range of services, software, analytics tools, and related services for its customers in the customer experience management market. The company offers the Watson Marketing solution that enables users with multiple solutions to improve their offerings in customer experience management. IBM has adopted inorganic growth strategies, such as partnerships and acquisitions, to enhance its offerings. For instance, it recently partnered with BUCKiTDREAM, providing BUCKiTDREAM with the Watson Marketing solution for an improved and personalized brand engagement experience to its customers.

Related Reports:

Customer Experience Management Market by Component (Solutions, Services) Touchpoint, Deployment Type, Vertical (IT & Telecom, BFSI, Retail, Healthcare, Media & Entertainment, Automotive, Travel & Hospitality), and Region - Global Forecast to 2024

Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com

Report Code
TC 2625
RI Published ON
5/13/2019
Choose License Type
BUY NOW
  • SHARE
X
Request Customization
Speak to Analyst
Speak to Analyst
OR FACE-TO-FACE MEETING
PERSONALIZE THIS RESEARCH
  • Triangulate with your Own Data
  • Get Data as per your Format and Definition
  • Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
  • Any level of Personalization
REQUEST A FREE CUSTOMIZATION
LET US HELP YOU!
  • What are the Known and Unknown Adjacencies Impacting the Customer Experience Management Market
  • What will your New Revenue Sources be?
  • Who will be your Top Customer; what will make them switch?
  • Defend your Market Share or Win Competitors
  • Get a Scorecard for Target Partners
REQUEST A FREE WORKSHOP
ADJACENT MARKETS
REQUEST BUNDLE REPORTS
ONLINE CHAT
+1-888-600-6441
  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
CONNECT WITH US
ABOUT TRUST ONLINE
© MarketsandMarkets Research Private Ltd. All rights reserved