Global Customer Experience Platform Market Size, Trends, and Growth Opportunity, By Deployment (On-premises, Cloud), By Platform (Windows, iOS, Android), By Touch Point (Stores, Websites, Email, Apps, Social Media, Call Centre, Others), By Vertical (IT & Telecom, BFSI, Consumer Goods & Retail, Healthcare, Transportation & Logistics, Hospitality, Media & Entertainment, Government), Regional Outlook, Competitive Market Share & Forecast, 2022 – 2027.
Global Customer Experience Platform Market
The Global Customer Experience Platform Market was valued at USD 8.6 Bn in 2021 which is expected to reach USD 23.51 Bn by 2027, at a CAGR of 16.3% from 2022-2027.
Customer Experience platforms, or CX platforms, are often a group of tools that assist businesses in defining their objectives for customer contact. It might be challenging for a single solution to keep track of the variety of channels that customers shall use to communicate with a firm. It should be highlighted that as the value of tracking customer experience grows, exceptions to this rule will occur more frequently.
Analytics are an important part of any customer experience platform. Marketing, senior management, product teams, and other groups & departments in a firm can use the data gathered via customer experience platforms as feedback. Customer experience analytics enables organizations to evaluate the total customer experience with their brand and assist them in making any adjustments.
Market Drivers
The customer experience platform market is being driven primarily by the ever-increasing interaction points, or touchpoints, and the increasing adoption of AI technologies. The availability of virtual touchpoints through phones, laptops, social media, emails, and others, has decreased the need for in-person customer interaction and has enabled the easy installation of customer communication platforms.
Several companies are seeking strategies for rising customer loyalty and customer retention. This reason is also driving firms to adopt customer experience platforms which are accelerating the market’s growth. The integration of AI-enabled analytics with businesses is also helping in understanding customer behaviour better, thus fuelling the growth of the market.
Market Restraints
The major restraint that hinders the growth of the global customer experience platform market is the rising risk of cyber-attacks. Customer experience platforms involve sensitive data. Such data is at risk of being stolen or misused if proper cybersecurity measures are not installed.
There is a global need to install cutting-edge cyber security technologies and stringent government regulations regarding cyber criminals. Some of the regions are not at par with the required cyber security standards. This can impede the growth of the customer experience platform market in such regions.
Market Segmentation
The global customer experience platform market is segmented into deployment modes of On-premises and Cloud. Based on the platform, it is segmented into Windows, iOS, and Android.
Further, the market is segmented by touch points of stores, websites, Email, apps, social media, call centres, and others.
Regional Analysis
The North American region is expected to dominate the customer experience platform market share during the forecast period of 2027. This is due to the presence of corporations pioneering in customer experience technologies and platforms, and the presence of well-established infrastructures to support connectivity with virtual touch points.
Furthermore, the Asia-Pacific region is likely to register high growth during the forecast period due to the increasing number of people having access to high-speed internet, companies can access their customer base through a higher availability of digital touchpoints, and hence will turn to customer experience management platforms propelling its growth.
Key Players
Tech Mahindra Limited, SAP SE, Adobe, Cisco, Tata Consultancy Services, Huawei Technologies, International Business Machines Corporation, Zendesk, Zoho Corporation, SAS Institute Inc, Oracle, Genesys, Open Text Corporation, and Others.
Market Taxonomy
By Deployment
• On-premises
• Cloud
By Platform
• Windows
• iOS
• Android
By Touch Point
• Stores
• Websites
• Email
• Apps
• Social Media
• Call Centre
• Others
By Vertical
• IT & Telecom
• BFSI
• Consumer Goods and Retail
• Healthcare
• Transportation and Logistics
• Hospitality
• Media and Entertainment
• Government
By Region
• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa
Global Customer Experience Platform Market
1 Introduction
1.1 Objective of the Study
1.2 Market definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Global Customer Experience Platform Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Global Customer Experience Platform Market, By Deployment
5.1 Y-o-Y Growth Comparison, By Deployment
5.2 Global Customer Experience Platform Market Share Analysis, By Deployment
5.3 Global Customer Experience Platform Market Size and Forecast, By Deployment
5.3.1 On-premises
5.3.2 Coud
6 Global Customer Experience Platform Market, By Platform
6.1 Y-o-Y Growth Comparison, By Platform
6.2 Global Customer Experience Platform Market Share Analysis, By Platform
6.3 Global Customer Experience Platform Market Size and Forecast, By Platform
6.3.1 Windows
6.3.2 iOS
6.3.3 Android
7 Global Customer Experience Platform Market, By Touch Point
7.1 Y-o-Y Growth Comparison, By Touch Point
7.2 Global Customer Experience Platform Market Share Analysis, By Touch Point
7.3 Global Customer Experience Platform Market Size and Forecast, By Touch Point
7.3.1 Stores
7.3.2 Websites
7.3.3 Email
7.3.4 Apps
7.3.5 social media
7.3.6 Call Centre
7.3.7 Others
8 Global Customer Experience Platform Market, By Vertical
8.1 Y-o-Y Growth Comparison, By Vertical
8.2 Global Customer Experience Platform Market Share Analysis, By Vertical
8.3 Global Customer Experience Platform Market Size and Forecast, By Vertical
8.3.1 IT & Telecom
8.3.2 BFSI
8.3.3 Consumer Goods and Retail
8.3.4 Healthcare
8.3.5 Transportation and Logistics
8.3.6 Hospitality
8.3.7 Media and Entertainment
8.3.8 Government
9 Global Customer Experience Platform Market, By Region
9.1 Global Customer Experience Platform Market Share Analysis, By Region
9.2 Global Customer Experience Platform Market Size and Forecast, By Region
10 North America Customer Experience Platform Market Analysis and Forecast (2022-2027)
10.1 Introduction
10.2 North America Customer Experience Platform Market Share Analysis, By Deployment
10.3 North America Customer Experience Platform Market Size and Forecast, By Platform
10.4 North America Customer Experience Platform Market Size and Forecast, By Touch Point
10.5 North America Customer Experience Platform Market Size and Forecast, By Vertical
10.6 North America Customer Experience Platform Market Size and Forecast, By Country
10.6.1 U.S.
10.6.2 Canada
10.6.3 Mexico
11 Europe Customer Experience Platform Market Analysis and Forecast (2022-2027)
11.1 Introduction
11.2 Europe Customer Experience Platform Market Share Analysis, By Deployment
11.3 Europe Customer Experience Platform Market Size and Forecast, By Platform
11.4 Europe Customer Experience Platform Market Size and Forecast, By Touch Point
11.5 Europe Customer Experience Platform Market Size and Forecast, By Vertical
11.6 Europe Customer Experience Platform Market Size and Forecast, By Country
11.6.1 Germany
11.6.2 France
11.6.3 UK
11.6.4 Rest of Europe
12 Asia Pacific Customer Experience Platform Market Analysis and Forecast (2022-2027)
12.1 Introduction
12.2 Asia Pacific Customer Experience Platform Market Share Analysis, By Deployment
12.3 Asia Pacific Customer Experience Platform Market Size and Forecast, By Platform
12.4 Asia Pacific Customer Experience Platform Market Size and Forecast, By Touch Point
12.5 Asia Pacific Customer Experience Platform Market Size and Forecast, By Vertical
12.6 Asia Pacific Customer Experience Platform Market Size and Forecast, By Country
12.6.1 China
12.6.2 Japan
12.6.3 India
12.6.4 Rest of Asia
13 Latin America Customer Experience Platform Market Analysis and Forecast (2022-2027)
13.1 Introduction
13.2 Latin America Customer Experience Platform Market Share Analysis, By Deployment
13.3 Latin America Customer Experience Platform Market Size and Forecast, By Platform
13.4 Latin America Customer Experience Platform Market Size and Forecast, By Touch Point
13.5 Latin America Customer Experience Platform Market Size and Forecast, By Vertical
13.6 Latin America Customer Experience Platform Market Size and Forecast, By Country
13.6.1 Brazil
13.6.2 Rest of Latin America
14 Middle East Customer Experience Platform Market Analysis and Forecast (2022-2027)
14.1 Introduction
14.2 Middle East Customer Experience Platform Market Share Analysis, By Deployment
14.3 Middle East Customer Experience Platform Market Size and Forecast, By Platform
14.4 Middle East Customer Experience Platform Market Size and Forecast, By Touch Point
14.5 Middle East Customer Experience Platform Market Size and Forecast, By Vertical
14.6 Middle East Customer Experience Platform Market Size and Forecast, By Country
14.6.1 Saudi Arabia
14.6.2 UAE
14.6.3 Egypt
14.6.4 Kuwait
14.6.5 South Africa
15 Competitive Analysis
15.1 Competition Dashboard
15.2 Market share Analysis of Top Vendors
15.3 Key Development Strategies
16 Company Profiles
16.1 Tech Mahindra Limited
16.1.1 Overview
16.1.2 Offerings
16.1.3 Key Financials
16.1.4 Business Segment & Geographic Overview
16.1.5 Key Market Developments
16.1.6 Key Strategies
16.2 SAP SE
16.2.1 Overview
16.2.2 Offerings
16.2.3 Key Financials
16.2.4 Business Segment & Geographic Overview
16.2.5 Key Market Developments
16.2.6 Key Strategies
16.3 Adobe
16.3.1 Overview
16.3.2 Offerings
16.3.3 Key Financials
16.3.4 Business Segment & Geographic Overview
16.3.5 Key Market Developments
16.3.6 Key Strategies
16.4 Cisco
16.4.1 Overview
16.4.2 Offerings
16.4.3 Key Financials
16.4.4 Business Segment & Geographic Overview
16.4.5 Key Market Developments
16.4.6 Key Strategies
16.5 Tata Consultancy Services
16.5.1 Overview
16.5.2 Offerings
16.5.3 Key Financials
16.5.4 Business Segment & Geographic Overview
16.5.5 Key Market Developments
16.5.6 Key Strategies
16.6 Huawei Technologies
16.6.1 Overview
16.6.2 Offerings
16.6.3 Key Financials
16.6.4 Business Segment & Geographic Overview
16.6.5 Key Market Developments
16.6.6 Key Strategies
16.7 International Business Machines Corporation
16.7.1 Overview
16.7.2 Offerings
16.7.3 Key Financials
16.7.4 Business Segment & Geographic Overview
16.7.5 Key Market Developments
16.7.6 Key Strategies
16.8 Zendesk
16.8.1 Overview
16.8.2 Offerings
16.8.3 Key Financials
16.8.4 Business Segment & Geographic Overview
16.8.5 Key Market Developments
16.8.6 Key Strategies
16.9 Zoho Corporation
16.9.1 Overview
16.9.2 Offerings
16.9.3 Key Financials
16.9.4 Business Segment & Geographic Overview
16.9.5 Key Market Developments
16.9.6 Key Strategies
16.10 SAS Institute Inc
17.10.1 Overview
16.10.2 Offerings
16.10.3 Key Financials
16.10.4 Business Segment & Geographic Overview
16.10.5 Key Market Developments
16.10.6 Key Strategies
16.11 Oracle
16.11.1 Overview
16.11.2 Offerings
16.11.3 Key Financials
16.11.4 Business Segment & Geographic Overview
16.11.5 Key Market Developments
16.11.6 Key Strategies
16.12 Genesys
16.12.1 Overview
16.12.2 Offerings
16.12.3 Key Financials
16.12.4 Business Segment & Geographic Overview
16.12.5 Key Market Developments
16.12.6 Key Strategies
16.13 Open Text Corporation
16.13.1 Overview
16.13.2 Offerings
16.13.3 Key Financials
16.13.4 Business Segment & Geographic Overview
16.13.5 Key Market Developments
16.13.6 Key Strategies
