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Customer Engagement Solution Global Market Report 2022

Customer Engagement Solution Global Market Report 2022

  • August 2022
  • 175 pages
  • ID: 6316253
  • Format: PDF
  • The Business Research Company

Summary

Table of Contents

Major players in the customer engagement solution market are Aspect Software Inc., Avaya Inc., Calabrio Inc., Genesys, IBM Corporation, Microsoft Corporation, NICE Systems Ltd., Nuance Communications Inc., OpenText Corporation, Oracle Corporation, Pegasystems Inc., Pitney Bowes Inc., Salesforce Inc., SAP SE, ServiceNow Inc., SugarCRM Inc., Verint Systems Inc., Zendesk Inc., Bpmonline, Crmnext, eGain Corporation, Eptica, Freshworks Inc., Ifs-Mplsystems, and Lithium Technologies LLC.

The global customer engagement solutions market is expected to grow from $15.32 billion in 2021 to $17.83 billion in 2022 at a compound annual growth rate (CAGR) of 16.4%. The customer engagement solutions market is expected to grow to $28.32 billion in 2026 at a CAGR of 12.3%.

The customer engagement solutions market consists of sales of customer engagement solutions by entities (organizations, sole traders, and partnerships) that are used to solve problems without requiring a support team.Customer engagement solutions refer to solutions that can improve and automate customer self-service options.

It helps the live agent concentrate on other requests, such as calls or chat requests. This also helps to improve customer loyalty.

The main types of components in customer engagement solutions are solutions and services.A customer engagement solution can range from a live chat tool that allows communicating with customers through your service channel(s) to enterprise-level software that covers every single touchpoint a user has during their sales journey with your company.

The different deployment types include on-premise, cloud, and involve various organization sizes such as small and medium enterprises, large enterprises. it is employed in BFSI, consumer goods and retail, telecommunication, healthcare and life sciences, automotive and transportation, media and entertainment, travel and hospitality, manufacturing, and other verticals.

North America was the largest region in the customer engagement solutions market in 2021.Asia Pacific is expected to be the fastest-growing region in the forecast period.

The regions covered in the customer engagement solutions market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The customer engagement solutions market research report is one of a series of new reports that provides customer engagement solutions market statistics, including customer engagement solutions industry global market size, regional shares, competitors with a customer engagement solutions market share, detailed customer engagement solutions market segments, market trends and opportunities, and any further data you may need to thrive in the customer engagement solutions industry. This customer engagement solutions market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the industry.

The high penetration of the internet is expected to propel the growth of the customer engagement solutions market going forward.The Internet refers to a worldwide network that helps to transmit a variety of data and media across interconnected devices.

The Internet is used in customer engagement solutions for answering customer questions digitally using tools such as email, social media, live chat, and messaging apps. For instance, in March 2021, according to Internet World Stats, a US-based internet statistics providing company, internet users rose from 4.5 billion in June 2019 to 5.1 billion in 2021 worldwide with a penetration rate of 65.6%. In addition, on an average global Internet, users are spending 6 hours and 43 minutes online every day. Therefore, the high penetration of the internet is driving the customer engagement solutions market.

Technological innovations are the key trends gaining popularity in the customer engagement solutions market.Major companies operating in the customer engagement solutions sector are introducing new technological innovations to reinforce their position in the market.

For instance, in May 2019, Verint Systems Inc., a US-based manufacturer of software and hardware products for customer engagement management and business intelligence, launched its customer engagement software called Verint Unified VoC. This software provides a complete view of direct, indirect, and inferred VoC from across key customer engagement channels. This is a customer engagement channel that has powerful, automated analytics that provide customer engagement solutions to deliver actionable insights.

In November 2021, Exotel, an India-based cloud telephony platform that powers communication for enterprises, such as startups and small and medium enterprises, acquired Cognos AI for an undisclosed amount.This acquisition helps Exotel to expand its business into new markets such as the Middle East and Southeast Asia.

Congo AI is an India-based company that provides customer engagement solutions.

The countries covered in the customer engagement solutions market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

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