Spending In Digital Customer Experience and Engagement Solutions Market - Snapshot

Digital customer experience and engagement solutions are cloud-based or on premise solutions that provide efficient management of customer data. Spending in digital customer experience and engagement solutions comprises the expenditure that a company invests in digitalizing the customer experience both at the front end as well as back end. Primarily, the solutions provide customer awareness, customer engagement, online maintenance requests & tracking, transaction processing, online marketing, advertising etc. Spending in digital customer experience and engagement solutions helps organizations to create customer awareness and engagement. Various software are developed for data analytics, marketing, advertising, user interface designing etc. Digital customer experience and engagement solutions are gaining importance in retail, banking, and manufacturing industry. In addition, digital customer experience and engagement solutions providers are emphasizing on developing software solutions and establishing appropriate frameworks to increase the customer base for the companies. Further, the market is flourishing due to the developments in technology as well as the increasing awareness about the technology amongst customers. 

spending in digital customer experience engagement solutions market

Customer expectations in terms of user experience are increasing radically. Customers are expecting a user friendly approach that involves an approachable User Interface (UI), and well-developed customer support and personalization facilities. Rapid response to queries and faster support facilities are also demanded by customers. Presently, customers have become more digitally conscious due to their increasing participation in social media and because information on the web is easily accessible. Moreover, users are demanding speed in their daily transactions or online activities. Exceeding customer expectations and providing solutions to both explicit customer requests and implicit customer needs are the primary objectives of organizations these days. This obliges organizations to implement improved user experiences in order to engage more customers. An omni-channel experience can be defined as a cross channel approach that enables various interfaces such as social media, web, and mobile to integrate for customer engagement. An omni-channel approach increases the involvement of customers with the organization, as all the communication channels are utilized in an integrated manner. This helps in broadening the customer base. 

In terms of business type, the spending in digital customer experience and engagement solutions market has been categorized into Business to Business (B2B), Business to Customer (B2C), and Business to Business to Consumer (B2B2C). Touch point segment of the market is bifurcated into social media, Gamification, digital marketing, and mobility. Based on industries, the bifurcation includes banking, insurance, manufacturing, public sector, telecommunications, utilities, retail & wholesale, services & consumer, and transport. In terms of enterprise size, the market is divided into small enterprises, medium enterprises, and large enterprises. Based on solutions, the market is segmented into customer awareness, customer engagement, purchase & relation, and support services. Customer awareness is sub segmented into customer data management platforms, customer analytics, and advertising & marketing. Advertising & marketing comprises email/campaign management, social media analytics, SEO/ Web analytics, targeted marketing, and content marketing. Customer engagement is further sub divided into personalization/ content targeting, cross selling/ up selling, and UI design. Purchase relation segment includes loyalty programs, transactions/ sales, and virtual trials/ displays. Support services segment includes Chatbot, self-serve tools, digital surveys, and case management.

Adoption of B2B business type is growing majorly in North America due to escalation in industrialization and major technological advancements. Social media is projected to be adopted majorly as the channel for customer experience and engagement solutions. In Europe, the retail and wholesale industry is estimated to hold the major share, as customers are becoming digitally conscious. The APAC region will see major adoption of support services followed by customer awareness solutions. 

Key players profiled in the spending in digital customer experience and engagement solutions market include Accenture, Capgemini SE, Cognizant, IBM Corporation, KOFAX INC.,Liferay Inc.,MEGA International, NCR Corporation, Orange Business Services, SAS Institute Inc., Tata Consultancy Services Limited, Tieto, and Zendesk, Inc.

Spending In Digital Customer Experience and Engagement Solutions Market: Overview

The spending in digital customer experience and engagement solutions market report provides analysis for the period 2016–2026, wherein 2018 to 2026 is the forecast period and 2017 is the base year. The report covers all the major trends and technologies playing an influential role in the market’s growth over the forecast period. It also highlights the market dynamics, which comprise drivers, restraints, and opportunities,for the analysis of market growth during the said period. The study provides a complete perspective on the evolution of the global spending in digital customer experience and engagement solutions market throughout the above mentioned forecast period in terms of revenue (US$ Bn). 

The market overview section of the report demonstrates market dynamics such as drivers, restraints, and opportunities that influence the current nature and future statusof this market,besides the challengesof the market.The market overview section also includes pricing model, which includes analysis of pay-per-unit, and tiered pay-per transaction model offered byspending in digital customer experience and engagement solutions vendors. In addition, market attractiveness analysis has been provided for every segment in the report, in order to offer a thorough understanding of the overall scenario in the spending in digital customer experience and engagement solutionsmarket. The report also provides an overview of various strategies adopted by key players present in the market.   

Global Spending in Digital Customer Experience and Engagement Solutions Market: Scope of the Report 

The report also highlights the competitive landscape of the market, positioning all the major players according to their presence in different regions of the world, and initiated by them in the market. The comprehensive spending in digital customer experience and engagement solutionsmarket estimates are the result of our in-depth secondary research, primary interviews, and in-house expert panel reviews. These market estimates have been analyzed by taking into account the impact of different political, social, economic,and technological factors along with the current market dynamics affecting the spending in digital customer experience and engagement solutionsmarket growth. 

This report provides all the essential information required to understand the key developments in the spending in digital customer experience and engagement solutionsmarket and growth trends of each segment and region. It also includes companies’ strategies, business overview, business portfolio, and financial information, under the company profile section. Furthermore, Porter’s Five Forces analysis explains the five forces namely, buyers bargaining power, suppliers bargaining power, threat of new entrants, threat of substitutes, and degree of competition in thespending in digital customer experience and engagement solutionsmarket.This report also provides a comprehensiveecosystem analysis ofthe market. It explains the various participants, including software &platform vendors, system integrators, intermediaries, and end-userswithin the ecosystem of the market. 

Global Spending in Digital Customer Experience and Engagement Solutions Market: Research Methodology

The research methodology is a perfect combination of primary research, secondary research, and expert panel reviews. Secondary research sources such as annual reports, company websites, broker reports, financial reports, SEC filings and investor presentations, national government documents, internal and external proprietary databases, statistical databases, relevant patent and regulatory databases, market reports, government publications, statistical databases, World Bank database, and industry white papers are referred. 

Primary research involves telephonic interviews, e-mail interactions, and face-to-face interviews for detailed and unbiased reviews on the spending in digital customer experience and engagement solutions market, across geographies. Primary interviews are usually conducted on an ongoing basis with industry experts and participants in order to get latest market insights and validate the existing data and analysis. Primary interviews offer firsthand information on important factors such as market trends, market size, competitive landscape,growth trends, outlook etc. These factors help to validate and strengthen secondary research findings and also help to develop the analysis team’s expertise and market understanding. Moreover, the data collected and analyzed from secondary and primary research is again discussed and examined by our expert panel. 

Global Spending in Digital Customer Experience and Engagement Solutions Market: Competitive Dynamics

The research study includes profiles of leading companies operating in the global spending in digital customer experience and engagement solutions market. Key players profiled include Accenture PLC, Capgemini SE, Cognizant, IBM Corporation, KOFAX INC., Liferay Inc., MEGA International, NCR Corporation, Orange Business Services, SASInstitute Inc., Tata Consultancy Services Limited, Tieto Corporation, and Zendesk Inc. 

The global spending in digital customer experience and engagement solutions market is segmented as below:

Global Spending in Digital Customer Experience and Engagement Solutions Market, by Business Type

  • Business to Business (B2B)
  • Business to Consumer (B2C)
  • Business to Business to Consumer (B2B2C)

Global Spending in Digital Customer Experience and Engagement Solutions Market, byTouch Points

  • Social media
  • Gamification
  • Digital Marketing
  • Mobility

Global Spending in Digital Customer Experience and Engagement Solutions Market, by Industry

  • Banking
  • Insurance
  • Manufacturing
  • Public Sector
  • Telecommunications
  • Utilities
  • Retail and wholesale
  • Services & Consumers
  • Transport

Global Spending in Digital Customer Experience and Engagement Solutions Market, by Enterprise Size

  • Small Enterprises
  • Medium Enterprises
  • Large Enterprises 

Global Spending in Digital Customer Experience and Engagement Solutions Market, by Solutions

  • Customer Awareness
    • Customer Data Management Platforms
    • Customer Analytics
    • Advertising & Marketing
      • Email / Campaign management
      • Social Media Analytics
      • SEO/ Web Analytics
      • Targeted Marketing
      • Content Marketing
    • Customer Engagement
      • Personalization/ Content Targeting
      • Cross Selling/ Up selling
      • UI Design
    • Purchase and Relation
      • Loyalty Programs
      • Transactions/ Sales
      • Virtual Trials/ Displays
    • Support Services
      • Chatbot
      • Self-serve tools
      • Digital surveys
      • Case Management 

Global Spending in Digital Customer Experience and Engagement Solutions Market, by Geography

  • North America
    • The U.S.
    • Canada
    • Rest of North America
  • Europe
    • The U.K
    • Germany
    • France
    • Rest of Europe
  • Asia Pacific (APAC)
    • India
    • China
    • Japan
    • Rest of Asia Pacific
  • Middle East & Africa (MEA)
    • GCC Countries
    • South Africa
    • Rest of Middle East & Africa
  • South America
    • Brazil
    • Rest of South America
.