SAN FRANCISCO, Feb. 2, 2022 / PRNewswire/-A new market study published by Global Industry Analysts Inc., (GIA) the leading market research firm, today released its report titled “Customer Interaction Solutions – Global Market Trajectory and Analytics”. The report presents new insights into opportunities and challenges in a significantly changed market after COVID-19.
FACTS AT A GLANCE
edition: 8; Released: January 2022
Executive Pool: 36026
Companies: 444 – Covered players include Aspect Software, Inc .; Avaya, Inc .; Bpmonline; Calabrio, Inc .; Crmnext; eGain Corporation; Eptica; Freshworks Inc .; Genesys; IBM Corporation; Ifs-Mplsystems; Lithium Technologies, LLC .; Microsoft Corporation; NICE Systems Ltd .; Nuance Communications, Inc .; OpenText Corporation; Oracle Corporation; Pegasystems, Inc .; Pitney Bowes, Inc .; Salesforce.com, Inc .; SAP SE; ServiceNow, Inc .; SugarCRM, Inc .; Verint Systems, Inc .; Zendesk, Inc. etc.
Scope: All major geographies and major segments
Segments: Components (Solutions, Services); Vertical (BFSI, Telecommunication, Retail and Consumer Goods, Other Vertical)
Geography: Mundo; United States; Canada; Japanese; China; Europe (France; Germany; Italy; United Kingdom; and left to Europe); Asia-Pacific; Other parts of the World.
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Global Customer Engagement Solutions Market to Reach US $ 31.3 Billion by the Year 2026
Customer engagement refers to the process that brands can use for maximizing their interaction with customers through various channels for building and strengthening customer relationships. Customer interaction can be done through a variety of means, marketing campaigns, creating and posting new content on websites, and outreach through social media platforms, mobile devices, and wearables. Customer engagement is emerging as one of the most effective ways of customer retention and is becoming the primary focus area for small and large organizations around the world. Against the backdrop of widespread digitalization of marketing, the ability of companies to interact with potential and existing customers through various digital channels to build relationships is growing in importance, so , it has become essential for competitive success in the marketplace. Fully committed customers show loyalty and buy more even during difficult economic conditions. Some of the popular digital interaction channels include email, text messaging, social media, live chat, webinars, podcasts, augmented reality (AR) and Virtual reality (VR), IoT, mobile apps, chatbots and voice assistant, among others. AI chatbots and voice assistants provide immediate response to customers ’service or product inquiries, thus providing an enjoyable interaction experience. Big data technologies help in making interactions more personal and tailored to individual preferences.
In the midst of the COVID-19 crisis, the global market for Customer Engagement Solutions is estimated to US $ 15 Billion by the year 2020, is expected to reach a revised size of US $ 31.3 Billion by 2026, growing at a CAGR of 12.5% during the review period. Solutions, one of the segments analyzed in the report, is expected to grow at an 11.2% CAGR to reach US $ 22.6 Billion at the end of the review period. After a thorough analysis of the business implications of the pandemic and its resulting economic crisis, growth in the Services segment will be readjusted to a revised 15.5% CAGR for the next 7 years. This segment currently provides 28.3% share of the global Customer Engagement Solutions market.
The US Market is estimated at $ 5.5 Billion in 2021, While China is Forecasting Reachable $ 4 Billion by 2026
The Customer Engagement Solutions market in the US is estimated at US $ 5.5 Billion in the year 2021. The country currently has a 32.3% share in the global market. Chinathe second largest economy in the world, is estimated to reach the estimated market size of that US $ 4 Billion in the year 2026 following a CAGR of 15% at the time of review. Among other notable geographic markets are Japanese at Canada, each forecast to grow at 9.7% and 11.7% respectively during the review period. Within Europe, Germany is estimated to grow at approximately 11.1% CAGR while the rest of the European market (as defined in the study) will take US $ 1.4 Billion at the end of the review period. More
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About Global Industry Analysts, Inc. & StrategyR
Global Industry Analysts, Inc., (www.strategyr.com) is a well -known market research publisher the only influencer driven market research company in the world. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurately forecasting markets and industries over over 33 years.
Zak Ali |
Director, Corporate Communications
Global Industry Analysts, Inc.
Email: [email protected]
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SOURCE Global Industry Analysts, Inc.