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Accelerated Growth Of Cloud-Based Solutions Is Driving The Service Quality Management And Telco Customer Experience Management Market Driver: A Major Catalyst in the Evolution of the Service Quality Management (SQM) And Telco Customer Experience Managemen
Service Quality Management SQM And Telco Customer Experience Management CEM Market
The increased uptake of cloud-based solutions is anticipated to boost the service quality management (SQM) and telco customer experience management (CEM) market's expansion. These cloud-based solutions are software or services hosted and accessed via the Internet, as opposed to being installed and run on local machines or servers. Their adoption is growing due to their scalable, flexible, and cost-efficient nature that benefits companies of all sizes. They enhance SQM and CEM by providing real-time data analysis, automation, and agile infrastructure for better responsiveness and customized service delivery. For example, a survey conducted by Flexera, a US-based software firm, in March 2024, with 753 respondents globally, found that more than a quarter (29%) spent over $12 million annually on cloud services. A close percentage (22%) spent the same on Software as a Service (SaaS). The survey also revealed a mild increase in the use of multi-cloud by organizations, rising from 87% in 2022 to 89% in 2023. Large enterprises also embraced multi-cloud security measures (61%) and employed multi-cloud FinOps tools for cost optimization (57%). Thus, the escalating uptake of cloud-based solutions is propelling the growth of the SQM and telco CEM market.
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What growth opportunities are expected to drive the service quality management (sqm) and telco customer experience management (cem) market's CAGR through 2034?
The market size for service quality management (SQM) and telco customer experience management (CEM) has seen a swift expansion in recent years. It is forecasted to rise from $5.22 billion in 2024 to an estimated $5.91 billion in 2025, with an impressive compound annual growth rate (CAGR) of 13.2%. Factors contributing to this past growth include enhanced utilization of mobile applications, increased customer interactions within the BFSI sector, the spread of IoT connections, focus on customer compatibility problems, and a surge in call center touchpoint interactions by end-users.
The size of the service quality management (SQM) and telco customer experience management (CEM) market is predicted to have a swift expansion in the coming years. Projected to reach $9.57 billion by 2029, the market is expected to have a compound annual growth rate (CAGR) of 12.8%. Factors contributing to this projected increase within the forecast period include the anticipated surge in mobile operator services, increased demand for technical support solutions, wide-ranging adoption of cost-effective cloud-based solutions, utilisation of open APIs for network capabilities and the emphasis on fault and event management. Notable trends during this forecast period are likely to encompass the integration of novel technologies, personalised solutions driven by Artificial Intelligence, the adoption of automated and self-service solutions, improved data analytics capabilities, as well as a commitment to proactive customer engagement.
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What are the emerging trends shaping the future of the service quality management (sqm) and telco customer experience management (cem) market?
Leading firms in the service quality management (SQM) and telco customer experience management (CEM) market are concentrating their efforts on creating advanced WiFi service assurance systems. These systems aim to bolster network stability, amplify performance, and provide uninterruptible connectivity experiences for clients, reducing customer turnover and enhancing overall contentment. WiFi service assurance systems are tools that oversee, scrutinize and improve WiFi networks to guarantee superior connectivity and user experiences. For instance, in September 2024, software services provider AVSystem, based in Poland, introduced a novel Customer Experience Management (CEM) Platform. This platform, specifically created to boost WiFi service assurance for Communication Service Providers (CSPs), aims to elevate customer contentment and operational efficiency by resolving prevalent issues related to WiFi connectivity. This CEM platform offers a detailed perspective of both the access layer and the home WiFi experience, enabling CSPs to proactively handle issues before they culminate in customer grievances.
Which growth-oriented segments of the service quality management (sqm) and telco customer experience management (cem) market are leading the industry's development?
The service quality management (SQM) and telco customer experience management (CEM) market covered in this report is segmented -
1) By Product Type: Enterprise Feedback Management (EFM), Text Analytics, Speech Analytics, Web Analytics
2) By Support System: Internet Service Providers (ISP), Managed Service Providers (MSP), Telecom Service Providers (TSP)
3) By Channel: Company Website, Web, Call Mobile, Centre, Branch, Social Media
4) By End Users: Small And Medium Businesses, Enterprises
Subsegments:
1) By Enterprise Feedback Management (EFM): Customer Surveys, Feedback Collection And Analysis Tools, Sentiment And Satisfaction Measurement
2) By Text Analytics: Natural Language Processing (NLP) Tools, Sentiment Analysis, Text Classification And Categorization
3) By Speech Analytics: Call Transcription And Analysis, Voice Sentiment Analysis, Speech-To-Text Tools
4) By Web Analytics: Web Traffic Analytics, User Behavior Analytics, Conversion And Engagement Tracking
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North America was the largest region in the service quality management (SQM) and telco customer experience management (CEM) market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the service quality management (SQM) and telco customer experience management (CEM) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
What companies are at the forefront of innovation in the service quality management (sqm) and telco customer experience management (cem) market?
Major companies operating in the service quality management (SQM) and telco customer experience management (CEM) market are Huawei Technologies Co. Ltd., accenture* PLC, The International Business Machines Corporation, Cisco Systems Inc., Oracle Corporation, SAP SE, The Hewlett Packard Enterprise Company, Nokia Corporation, Telefonaktiebolaget LM Ericsson, NEC Corporation, Capgemini SE, Adobe Inc., Tech Mahindra Ltd., Amdocs Limited, Ciena Corporation, SAS Institute, Genesys Cloud Services Inc., CSG International, Verint Systems, Calix Inc., Medallia Inc., Spirent Communications PLC, Comarch SA, InfoVista SAS, Comviva, Radisys Corporation, Aria Systems Inc.
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What Is Covered In The Service Quality Management (SQM) And Telco Customer Experience Management (CEM) Global Market Report?
•Market Size Forecast: Examine the service quality management (sqm) and telco customer experience management (cem) market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the service quality management (sqm) and telco customer experience management (cem) market for a structured understanding.
•Key Players Overview: Analyze major players in the service quality management (sqm) and telco customer experience management (cem) market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the service quality management (sqm) and telco customer experience management (cem) market.
•Segment Contributions: Evaluate how different segments drive overall growth in the service quality management (sqm) and telco customer experience management (cem) market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the service quality management (sqm) and telco customer experience management (cem) market.
•Industry Challenges: Identify potential risks and obstacles affecting the service quality management (sqm) and telco customer experience management (cem) market.
•Competitive Landscape: Review strategic developments in the service quality management (sqm) and telco customer experience management (cem) market, including expansions, agreements, and new product launches.
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