Press release
Customer Success Platforms Market Overview and Growth Drivers 2024-2033
Customer Success Platforms Market Overview
Customer Success Platforms 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 $9.85 billion In 2028 At A CAGR Of 25.1% :
The customer success platforms market size has grown exponentially in recent years. It will grow from $2.07 billion in 2023 to $2.5 billion in 2024 at a compound annual growth rate (CAGR) of 20.9%. The growth in the historic period can be attributed to business growth and expansion, collaboration across departments, adoption in diverse industries, focus on customer lifetime value (clv).
The customer success platforms market size is expected to see exponential growth in the next few years. It will grow to $5.48 billion in 2028 at a compound annual growth rate (CAGR) of 21.7%. The growth in the forecast period can be attributed to expansion of subscription economy, enhanced customer experience (cx), data-centric approaches, remote work and digital transformation, outcome-based customer success metrics. Major trends in the forecast period include focus on customer-centric strategies, saas and subscription-based models, data-driven customer insights, personalization and segmentation, integration with crm systems.
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Customer Success Platforms Market Major Segments
The customer success platforms market covered in this report is segmented -
1) By Component: Platforms, Services
2) By Deployment Mode: Cloud, On-Premises
3) By Organization Size: SMEs, Large Enterprises
4) By Application: Sales And Marketing Optimization, Reporting And Analytics, Customer Segmentation, Risk and Compliance Management, Customer Service, Customer Onboarding, Other Applications
5) By End-user: BFSI, Retail And e-Commerce, Transportation And Logistics, Healthcare, Telecom And IT, Government And Public Sector, Other End-Users
Key Driver - Cloud-Based Solutions Fueling Growth In Customer Success Platform Market
The rising adoption of cloud-based solutions is expected to propel the growth of the customer success platform market going forward. Cloud-hosted software and services can be accessed and used through a web browser, a dedicated desktop client that connects to a desktop or mobile operating system. Organizations today are adopting cloud-based solutions such as cloud customer success platforms for the benefits they offer, including improved customer services, offer faster implementation cycles. For instance, according to data by Flexera, a US-based computer software company, in 2022, 89% of organizations adopted a multi-cloud, 80% adopted a hybrid cloud, 9% adopted a single public cloud, and 2% a single private cloud. Therefore, the rising adoption of cloud-based solutions is driving the growth of the customer success platform market.
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Prominent Trend - Tech Advancements Is Gaining Popularity Inthe Customer Success Platforms
Technological advancement is a key trend gaining popularity in the customer success platform market. Major companies operating in the market are introducing new technologies that work on AI-powered insights and recommended actions to sustain their position in the market. For instance, in March 2022, Gainsight, a US-based software development company launched the Gainsight Essentials platform with AI-powered insights and recommended actions to drive customer success. It helps to get direct customer-related data to accelerate time to value and reduce overall administration costs.
Customer Success Platforms Market Players
Major companies operating in the customer success platforms market report are Gainsight Inc., Salesforce.com Inc., Totango Ltd., Strikedeck Inc., ClientSuccess LLC, ChurnZero Inc., Cisco Systems Inc., Wootric Inc., Planhat AB, CustomerSuccessBox, ZoomInfo Technologies LLC, Intercom Inc., WalkMe Ltd., Akita Software Ltd., Custify Ltd., SmartKarrot Inc., HubSpot Inc., Amity Software Inc., Natero Inc., UserIQ Inc., Catalyst Software Inc., Chorus.ai Inc., Cognism Limited, Freshworks Inc., Airtable Inc., Churn Buster LLC, CustomerGauge, Customer Success Builder, Zendesk Inc., Vitally Inc.
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Largest And Fastest Growing Region In The Market
North America was the largest region in the customer success platforms market share in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the customer success platforms 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 Success Platforms Market Report Structure
3. Customer Success Platforms Market Trends And Strategies
4. Customer Success Platforms Market - Macro Economic Scenario
5. Customer Success Platforms Market Size And Growth
…..
27. Customer Success Platforms 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 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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