Global Customer Engagement Solutions Market: Overview
Customer engagement refers to the adoption of strategies by businesses in order to retain and widen their consumers. It is a a large part of business communication and interaction. Customer engagement solutions range from customer services, social media, CRMs, marketing personalization, web chat, etc. Customer engagement solutions primarily provide a platform for interaction, offer analytics, reporting, optimization of workforce, self-service, development of engagement applications, and automation. As the need for customer satisfaction and meaningful engagement surges, the global customer engagement solutions market is likely to see a substantial growth in the coming years.
This report provides in-depth analysis of the global customer engagement solutions market, focusing on the market opportunities and possible restraints, along with the latest trends driving the market. The report segments the global customer engagement solutions market based on its deployment, component, application, organization size and geography.
Global Customer Engagement Solutions Market: Trends & Opportunities
The soaring proliferation of personal digital assistants (PDA), smart phones, and tablets plays a key role in the growth of the global customer engagement solutions market. The high penetration of internet across these devices is likely to spur the market growth. The combined utilization of digitally automated devices, along with the high uptake of machine learning, artificial intelligence and automation will boost the growth of the customer engagement solutions market in eth coming years. The existence of smart devices creates the need for a fruitful consumer experience, leading to demand for customer engagement solutions.
Enterprises are shifting towards the use to cloud storage. In particular, public cloud is expected to emerge as a popular option. This could be on account of its lower overhead expenses. This is expected to be another key factor boosting the global customer engagement solutions market in the coming years. The emergence of internet of things (IoT) is likely to support the growth of the market further. The integration of IoT with customer engagement solution is likely to be a key trend in the global customer engagement solutions market in the coming years.
A recent milestone in the market is the launch of IBM Watson Customer Engagement. The product is designed to target individual customers while designing its marketing campaigns. The introduction of novel innovations such as these by vendor is likely to amplify sales in the global customer engagement solutions market in the coming years.
Global Customer Engagement Solutions Market: Regional Outlook
On the basis of region, the global customer engagement solutions market is likely to be led by North America. Countries in the region such as the U.S are known to adopt social, mobile, clod and analytics technologies at their inception. This is expected to work in the favor of the North America customer engagement solutions market.
In the coming years, Asia Pacific is expected to witness the highest growth potential for customer engagement solutions. The region is witnessing large adoption of cloud by emerging countries such as China, India, and Japan. This is expected to bolster the regional market substantially.
Global Customer Engagement Solutions Market: Competitive Landscape
Vendors in the global customer engagement solutions market are expected to keep abreast of the leading technological innovations in the industry. Players are expected to adopt startegies such as meaningful collaborations, mergers and acquisitions, and partnerships in order to stay afloat in the market.
Prominent vendors operating in the global customer engagement solutions market are International Business Machines Corporation, Salesforce.com Inc., Genesys, Zendesk Inc., Microsoft Corporation, SAP SE, SugarCRM, and Avaya Inc.
Market segmentation based on geography:
- North America
- South America
- Asia Pacific
- Middle East and Africa
This report gives access to decisive data, such as:
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for the coming years
Key highlights of this report include:
- Overview of key market forces propelling and restraining market growth
- Up-to-date analyses of market trends and technological improvements
- Pin-point analyses of market competition dynamics to offer you a competitive edge
- An analysis of strategies of major competitors
- An array of graphics and SWOT analysis of major industry segments
- Detailed analyses of industry trends
- A well-defined technological growth map with an impact-analysis
- Offers a clear understanding of the competitive landscape and key product segments
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.