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Customer Service Software Market 2024 Report By Key Companies, Regional Analysis And Forecast 2033

05-27-2024 11:19 AM CET | IT, New Media & Software

Press release from: The Business research company

Customer Service Software Market

Customer Service Software Market

The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Customer Service Software Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $18.64 billion In 2028 At A CAGR Of 18.4% :

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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Customer Service Software Market Major Segments
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

Key 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.

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Prominent Trend - Major Companies' Strategies In The Evolving Customer Service Software Landscape

Technological advancements are a key trend gaining popularity in the customer service software market. Major companies in the market are introducing advanced technology-based software technologies to sustain their position in the market. For instance, in June 2021, Yellow.ai, a US-based enterprise-grade conversational AI platform company, launched new voice bots to improve the consumer experience. The uniqueness of the new solution is that it has a self-learning NLP (natural language processing) engine and sophisticated voice models in over 100 languages to help brands automate their customer experience. Additionally, it has multichannel voice experiences, text-to-speech (TTS) features that support a range of emotions, and a speech-to-text (STT) engine that continuously learns to increase accuracy over time. In addition, it has built-in customization engines with sentiment analysis, intent comprehension, contextual awareness, and human agent transfer.

Customer Service Software Market Players
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.

View The Full Report Here - https://www.thebusinessresearchcompany.com/report/customer-service-software-global-market-report

Largest And Fastest Growing Region In The Market
North America was the largest region in the customer service software market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global customer service software market forecast period. The regions covered in the customer service software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Customer Service Software Market Report Structure
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

Contact Us:
The Business Research Company
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Americas: +1 315 623 0293
Email: info@tbrc.info

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Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.

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