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Service Quality Management (SQM) And Telco Customer Experience Management (CEM) Market Size Projected To Reach $9.57 Billion By 2034 With A Cagr Of 12.8%
Service Quality Management (SQM) And Telco Customer Experience Management (CEM) Market
What Is the Projected Growth of the Service Quality Management (SQM) And Telco Customer Experience Management (CEM) Market?
The market size of service quality management (SQM) and telco customer experience management (CEM) has seen a significant expansion lately. Its growth is expected to escalate from $5.22 billion in 2024 to $5.91 billion in 2025, marking a compound annual growth rate (CAGR) of 13.2%. Factors such as heightened usage of mobile apps, increased customer engagement in the BFSI sector, expansion of IoT connectivity, emphasis on customer compatibility problems, and increased interactions at the call center touchpoints are noted as the primary contributors to the growth observed in the historical period.
The market size for service quality management (SQM) and telco customer experience management (CEM) is predicted to experience significant growth in the coming years, escalating to $9.57 billion by 2029, with a compound annual growth rate (CAGR) of 12.8%. This expected growth during the forecasted period can be linked to the anticipated increase in mobile operator services, rising demand for technical support solutions, and the growth of cost-effective cloud-based solutions. Other contributing factors include the adoption of open APIs for network capabilities and emphasis on fault and event management. Key trends during this period are expected to be the integration of emerging technologies, AI-powered personalization, automation and self-service solutions, increased data analytics capabilities, and focus on proactive customer involvement.
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What Are the Different Service Quality Management (SQM) And Telco Customer Experience Management (CEM) Market Segments?
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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What Are the Primary Drivers Shaping the Service Quality Management (SQM) And Telco Customer Experience Management (CEM) Market?
The escalating popularity of solutions based in the cloud is projected to spur the expansion of the service quality management (SQM) and telco customer experience management (CEM) market. These cloud-based solutions denote software or services hosted and accessed via the Internet, as opposed to being launched and operated on individual computers or servers. The shift towards cloud solutions is increasing for their adaptability, scalability, and financial viability for diverse business sizes. These solutions augment SQM and CEM by facilitating real-time data evaluation, automation, and adaptable infrastructure for better responsiveness and personalized service provisioning. As an illustration, a survey by Flexera, an American software firm, in March of 2024 reported that over a quarter (29%) of the 753 global respondents invested more than $12 million per year on cloud services, and a similar fraction (22%) allocated the same sum on Software as a Service (SaaS). Organizations' usage of multi-cloud saw a marginal increase, from 87% in 2022 to 89% in 2023. Furthermore, 61% of large businesses adopted multi-cloud security protocols, while 57% integrated multi-cloud FinOps tools for cost effectiveness. Consequently, the escalating implementation of cloud-based solutions is catalyzing the progress of the SQM and CEM market.
Which Companies Are Leading 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.
What Trends Are Expected to Dominate the Service Quality Management (SQM) And Telco Customer Experience Management (CEM) Market in the Next 5 Years?
Leading firms in the service quality management (SQM) and telco customer experience management (CEM) sectors are prioritizing the development of innovative WiFi service assurance systems to augment network dependability, hone performance, and assure customers of continuous connectivity. These efforts are aimed at reducing customer defection and increasing satisfaction levels. WiFi service assurance systems function as tools that supervise, scrutinize, and refine WiFi networks to guarantee superior connectivity and user experience. As an example, AVSystem, a software services company originating from Poland, inaugurated a new Customer Experience Management (CEM) Platform in September 2024. This platform was constructed specifically to fortify WiFi service assurance for Communication Service Providers (CSPs). It intends to enhance customer gratification and streamline operations by tackling issues commonly related to WiFi connectivity. The CEM Platform delivers an all-encompassing view of both the access layer and in-home WiFi experience, equipping CSPs with the ability to proactively manage issues before they amplify into customer grievances.
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What Are the Top Revenue-Generating Geographies in the Service Quality Management (SQM) And Telco Customer Experience Management (CEM) Market?
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.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Service Quality Management (SQM) And Telco Customer Experience Management (CEM) Market?
2. What is the CAGR expected in the Service Quality Management (SQM) And Telco Customer Experience Management (CEM) Market?
3. What Are the Key Innovations Transforming the Service Quality Management (SQM) And Telco Customer Experience Management (CEM) Industry?
4. Which Region Is Leading the Service Quality Management (SQM) And Telco Customer Experience Management (CEM) Market?
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