Customer Experience Management Market 2021 Strategic Assessment- Adobe Inc., Oracle Corporation, SAP SE, IBM Corporation

The report presents an in-depth assessment of the Customer Experience Management Market including enabling technologies, key trends, market drivers, challenges, regulatory landscape, deployment models, opportunities, future roadmap, value chain, ecosystem player profiles and strategies. The report also presents forecasts for Customer Experience Management investments from 2021 till 2025.

The customer experience management market expected to register a CAGR of 10% over the forecast period 2020-2025.

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The report presents the market competitive landscape and a corresponding detailed analysis of the major vendor/key players in the market. Top Companies in the Global Customer Experience Management Market: Adobe Inc., Oracle Corporation, SAP SE, IBM Corporation, Avaya Inc., Verint Systems Inc., Tech Mahindra, Open Text Corporation., Zendesk, Sitecore, Clarabridge, Medallia Inc., MaritzCX Research LLC

Key Developments:

- March 2020 - Adobe launched the Digital Economy Index, the first real-time barometer of the digital economy, to analyze trillions of online transactions across 100 million products in 18 categories. It reflects consumers' desire to purchase products in the future. It is powered by Adobe Analytics and based on a new digital consumer shopping basket measuring scale of online goods and services. It has also protected many businesses during the pandemic outbreak COVID-19, as it helped many companies become digital.
- February 2020 - Verint System Inc. partnered with Adobe to support more personalized customer journeys by combining experience data from the Verint Experience Cloud along with data from the Adobe Experience Platform. Organizations can leverage customer experience data seamlessly to automate the process of predicting and acting on experienced drivers, the key to anticipating, and meeting customer needs. Companies can now automate and take action on real-time insights across every level of the organization to drive meaningful outcomes, prioritizing improvements based on desired impacts.

Market Overview:

Increasing adoption of digitalization, technological advancements in cloud and artificial intelligence solutions, rapid integration of multichannel touchpoints into a single platform, and the increasing need to analyze customer data to draw business insights to increase revenue are some of the primary factors boosting the customer experience management market.
Brands are increasingly dependent on customer experience management tools to determine customers' requirements and to verify that the customer needs and the company's offerings are on the same level to be one step ahead of competitors. Companies also utilize cloud-based technology, advanced analytics, and automation to provide highly personalized customer experience and build brand loyalty to reduce churn rate. According to a study, brand loyalty aids companies to achieve revenue gains of 5% to 10% and reduce costs by 15% to 25% within two or three years as new customer acquisition costs five times as to retain a current customer.

Regional Analysis:

For comprehensive understanding of market dynamics, the global Customer Experience Management Market is analyzed across key geographies namely: United States, China, Europe, Japan, South-east Asia, India and others. Each of these regions is analyzed on basis of market findings across major countries in these regions for a macro-level understanding of the market.

Key Market Trends
Travel and Transportation are Expected to Witness Moderate Growth
- According to the WTTC 2019 report, the travel and tourism sector experienced 3.5% growth and outpaced the global economy (2.5%) for the ninth consecutive year. Over the past five years, one in four new jobs were created by the sector and has generated 10.3% of global GDP. This data reflects the sector's significant growth in the coming years.
- The travel and transportation sector has experienced a digital transformation over the past few years due to the overwhelming shift of customers from traditional paper to digital solutions. The rapid adoption of mobile and access to internet services across the world has forced all the travel companies to switch to mobile supporting applications to enhance the customer experience.
- Modern travelers use technology at every single point, from reaching to the airport, checking in, accessing in-flight entertainment, managing itineraries, unlocking hotel rooms, handling customer service problems, or looking for food to eat. This trend has led to the development of mobile integration solutions that provide personalized data and have ultimately improved customer experience. For instance, Wyndham Hotel Group uses Adobe Analytics to gather data, time-based metrics, geolocation, and personalization data for better application experience to loyalty members.

The report has 150 tables and figures browse the report description and TOC:

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What are the market factors that are explained in the report?

-Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.

-Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

-Analytical Tools: The Global Customer Experience Management Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.

Finally, Customer Experience Management Market report is the believable source for gaining the Market research that will exponentially accelerate your business. The report gives the economic situations with the item value, benefit, limit, generation, supply, request and Market development rate and figure and so on. This report additionally Present new task SWOT examination, speculation attainability investigation, and venture return investigation.

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