Press release
Advancements in Internet of Things (IoT) to Propel the Expansion of Customer Service Software Market (2018-2028)
The increasing need for real-time problem solving and strong relationship building with customers are fueling the demand for customer service software market. Customer service software enables to track, organize and manage customer request using a single platform. Customer service software consolidates the issues and chats and enhances CRM and sales with more insights and personalized campaigns. The main features of the customer service software are ticketing system, social post, calls, transform customer emails, chat messages, and others and direct it to agents for immediate resolution. Components of customer service software are service desk, help desk, IT/IS support, technical support, support center, customer support center, customer service center, call center, and contact center. The major advantages of customer service software are real-time problem solving, sales and lead generation, relationship building, getting customer feedback, real-time analytics, improved communication with team and customers, stronger collaboration, increase support efficiency, improved customer loyalty, and others.
The three major components considered while buying customer service software are supported style, usability, and price. Customer service software support style includes features such as live chat, email and call support, comprehensive knowledge-based article, or a combination of all of these. Customer service software usability includes intuitive User Interface (UI) with limited requirement of training. Overall cost of customer service software is another important parameter and the purchase decision is based on the features and services offered to the customers of customer service software. Other features of customer service software include clean interface, language support, custom preferences, custom fields, internal communication and collaboration tool, knowledge-based content management system, personalized customer service, remote customer service, social media customer service, and others. The customer service software market is expected to grow at a CAGR of around 17% during the forecast period. Several developments in customer service software, with reference to technology, the proliferating growth rate of the market, along with the recent developments and innovations are expected to drive the global customer service software market during the forecast period.
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Customer service software Market: Drivers and Challenges
Continuous improvements in cloud technology along with features such as smart support, enhanced CRM, reduced cost, and time efficient process is driving the global customer service software market. Increasing trend of automated workflow is driving the global customer service software market. Other factors such as increasing ICT spending, continuous improvement in cloud technology and rising number of customer-facing business are expected to have a positive impact on the growth of global customer service software market.
One of the major factors hindering the growth of the global customer service software market is the insufficient data provided by customers while raising tickets. It becomes difficult for service providers to understand the issue. However, vendors are continuously focusing on developing customer service software with mandatory data fields to be filled by customers for a better understanding. It is expected that the vendors will overcome the restraints mentioned above during the forecast period with respect to the global customer service software market.
Customer Service Software Market: Key Segmentation
Customer service software market segmentation based on deployment:
The customer service software market is segmented based on;
On premise
SaaS-based
Customer service software market segmentation based on enterprise type:
The customer service software market is segmented based on;
Small and Medium Enterprise
Large Enterprise
Customer service software market segmentation based on the component:
The customer service software market is segmented based on;
Software
Services
Customer service software market segmentation based on industry:
The customer service software market is segmented based on;
Government
Manufacturing
Financial
Internet & Telecom
Others
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Customer Service Software Market: Key Players
Some of the key players of customer service software market are LiveChat, Inc., Genesys, Atlassian, Zendesk, Freshworks Inc., HappyFox Inc., Kayako, Zoho Corporation Pvt. Ltd., SolarWinds Worldwide LLC, and others.
Customer Service Software Market: Regional Overview
North America and Western Europe are expected to have the major market share of the global customer service software market. U.S. is witnessing a huge adoption of customer service software due to the high concern about customer relationship and the availability of advanced IT infrastructure. SEA and Other APAC countries are expected to have high Y-o-Y during the forecast period due to continuous developments in emerging countries such as India and China.
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