Customer Experience Management Market Industry Analysis, Size, Growth, Trends, and Outlook 2021- ABB Ltd, Cognex Corporation, Siemens AG, Schneider Electric, Swisslog Holding AG (Kuka AG), Rockwell Automation

The Customer Experience Management Market report provides the overall structure and business outlook of the global and regional industries. The study also involves the important Achievements of the market, Research & Development, new product launch, product responses, and regional growth of the leading competitors operating in the market on a global and local scale. The structured analysis contains graphical as well as a diagrammatic representation of the global Customer Experience Management Market with its specific geographical regions.

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

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Top Leading Companies of Global Customer Experience Management Market are ABB Ltd, Cognex Corporation, Siemens AG, Schneider Electric, Swisslog Holding AG (Kuka AG), Rockwell Automation Inc., Honeywell International Inc., Robert Bosch GmbH, Johnson Controls International PLC, Emerson Electric Company, General Electric Company, Cisco Systems Inc., Intel Corporation, Fanuc Corporation, Denso Corporation

Market Overview

- 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.

- The advent of technology has led to the digitalization of every sector and has tremendously increased the digital customer interaction. Technology evolution at a rapid pace has led to the creation of more intuitive and user-friendly interactions. But as customers are now accustomed to user-friendly and personalized digital natives, such as Google and Amazon, they expect the same kind of service from established players. According to research, 25% of customers will defect after just one bad experience, and thus, companies are demanding multi-purpose, user-friendly, accurate, and fast solutions from the key vendors.

- Digital transformation has opened up a plethora of opportunities in the way contact centers have been functioning, and the Asia-Pacific region is experiencing high adoption of a customer experiencing platforms in various industries. For instance, in 2019, Singapore Airlines, one of the world�s best airlines, has partnered with Insider to drive its customer satisfaction initiatives. Insiders growth management platform based on the latest artificial intelligence technologies will enable Singapore Airlines to deliver highly personalized, meaningful experiences to each individual based on historical, real-time, and predictive data.

News and Latest 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.

KEY MARKET BENEFITS FOR STAKEHOLDERS

─The objective of report is to define, segment, and project the market on the basis of product type, application, and region, and to describe the content about the factors influencing market dynamics, policy, economic, technology and market entry etc.

─This report provides an in-depth analysis of the Global Customer Experience Management market to identify the potential investment pockets.

─It outlines the current trends and future scenarios to determine the Customer Experience Management market potential and gain stronger market foothold.

─Key drivers, restraints, and opportunities and their detailed impact analysis are elucidated.

─Quantitative analysis of the Customer Experience Management industry from 2015 to 2025 is highlighted to recognize the financial competency of the market.

─Porter’s Five Forces model illustrates the threat of new entrants, threat of substitutes, and strength of the buyers & suppliers.

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