Customer Experience Management Market to grow at CAGR of 19.9%

Global customer experience management market, as per a recent study,  is projected to reach $10.77 Billion by 2020, at a CAGR of 19.9% during the forecast period of 2015 to 2020.

The way organizations engage with their customers has become a key factor in defining their success. The customer experience management market covers various touch points, such as company websites, branch/store, web, email, mobile, and social media, which are used by organizations to monitor customer behaviour and make strategic decisions accordingly. From an insight perspective, this research report has focused on various levels of analysis-industry analysis (industry trends and value chain analysis), market share analysis of the top players, and company profiles. These insights together comprise and discuss basic views on the competitive landscape, emerging- and high-growth segments of the global customer experience management market, high-growth regions, and initiatives taken by governments of different countries, along with market drivers, restraints, and opportunities.

Currently, mobile and social media are gaining popularity in every aspect of human lives. The customers are surrounded with large number of choices, which ultimately affects brand loyalty. Therefore, companies are focusing on fulfilling customers demand by providing products and services that can be personalized to their specific needs and delivered through their chosen channel. Companies are using various analytical tools such as big data analytics, predictive analytics, social media analytics, speech analytics, and various others to manage the emotional component of customer's experience and increase their customer base.

The key players in the market are Nokia Networks, SAP SE, Tech Mahindra, Verint Systems, Oracle Corporation, Adobe Systems Inc., IBM, Clarabridge, SAS Institute Inc., SDL, and OpenText, among others.