Press release
Customer Service Software Global Market Report 2024 - By Report, Size, Share, Trends, Forecast To 2033
Customer Service Software
The Business Research Company offers in-depth market insights through Customer Service Software Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The customer service software market size has grown rapidly in recent years. It will grow from $7.92 billion in 2023 to $9.48 billion in 2024 at a compound annual growth rate (CAGR) of 19.8%. The growth in the historic period can be attributed to rise of e-commerce and online businesses, growing customer expectations, globalization and business expansion, integration with corm systems, increasing complexity of customer inquiries.
The customer service software market size is expected to see rapid growth in the next few years. It will grow to $18.64 billion in 2028 at a compound annual growth rate (CAGR) of 18.4%. The growth in the forecast period can be attributed to increasing adoption of AI and automation, data analytics for customer insights, emphasis on omnichannel customer experience, focus on proactive customer service, cybersecurity considerations. Major trends in the forecast period include advancements in technology, AI-powered automation, omnichannel support, personalization and customer insights, self-service portals.
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Market Segmentation:
The customer service software market covered in this report is segmented -
1) By Component: Software, Services
2) By Deployment Type: Cloud-Based, On-Premise
3) By Application: Large Enterprises, Small And Medium-Sized Enterprises (SMEs)
4) By End-User: Government, Manufacturing, Financial, Internet And Telecom, Other End-Users
Major Driver - The Impact Of Customer Experience On The Growth Of The Customer Service Software Market
The growing importance of customer experience is driving the customer service software market. Customer experience refers to the overall perception used to describe how a customer feels about all the ways they interact with a business or brand. Customer service software can be very useful in improving customer experiences as it helps companies improve communication and enhance customer engagement processes. It can also help businesses collect feedback from customers, allowing them to make data-driven decisions about how to improve the customer experience and develop unique strategies for their business. For instance, in June 2022, according to a survey conducted by Verint Systems, a US-based customer engagement solutions company, more than 2,000 people participated in this survey, ranging in age from 18 to 75. 39 percent of the respondents agreed that they would tell their friends and family not to purchase goods from a company if they had a bad customer experience with that brand and 64 percent of the respondents had already stopped doing business with such companies. 79 percent of the respondents under the age of 45 agreed that it was very important to have a good experience on digital platforms. Therefore, the growing importance of customer experience is driving the customer service software market forward.
Competitive Landscape:
Major companies operating in the customer service software market report are Oracle Corporation, SAP SE, Salesforce Inc., Yekaliva.ai, Atlassian Corporation, Atlassian Corporation plc, Genesys Telecommunications Laboratories Inc., BMC Software Inc., HubSpot Inc., Zendesk Inc., Nuance Communications Inc., Zoho Corporation Pvt. Ltd., Verint Systems Inc., SolarWinds Worldwide LLC, Freshworks Inc., Intercom Inc, Microsoft Corporation, Kayako Infortech Ltd., LiveChat Software Inc., Help Scout PBC, Amphora Inc, Eka Software Solutions, Agile CRM Inc., Quantifi Inc., HappyFox Inc., Quality Unit LLC., FocalScope, PhaseWare Inc., Tracker Software Technologies Ltd, LiveAgent, Hiver Inc., Vivantio Ltd., Habla Inc.
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Top Trend - Advancing Customer Service Software In The Automotive Sector
Major companies operating in the customer service software market are focusing on developing innovative solutions, such as software solutions and services on demand. An software solutions and services on demand involves providing customizable and flexible software solutions and services that can be accessed and utilized as needed by clients. For instance, in September 2023, Valeo, a France-based company that supplies automotive products and services to automakers and the aftermarket, launched Valeo anSWer, a new offer of software as a product and as a service that includes best-in-class applications, middleware, and services for customers. This includes an open, scalable, and modular offer comprising best-in-class applications, middleware, and services for all mobility players, with a focus on innovation in automotive software and tailored support for OEMs. Its significance in the customer service software market lies in addressing the evolving automotive industry's software demands, providing best-in-class applications, middleware, and support services, thus contributing to the advancement of customer service software in the automotive sector.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Customer Service Software Market Characteristics
3. Customer Service Software Market Trends And Strategies
4. Customer Service Software Market - Macro Economic Scenario
5. Customer Service Software Market Size And Growth
…..
27. Customer Service Software Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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