Driving Customer Loyalty: How AI and Cloud are Shaping the Future of Customer Ex

1. Driving Customer Loyalty: How AI and Cloud are Shaping the Future of Customer Experience Management Market According to a research report"Customer Experience Management Marketby Offering (Solutions, Services), Touchpoint, Deployment Type, Organization Size, Vertical (Travel & Hospitality, BFSI, Retail, Healthcare, IT & Telecom) and Region - Global Forecast to 2028"published by MarketsandMarkets, The global customer experience management market is expected to be valued USD 11.4 billion in 2023 and USD 20.4 billion by 2028, growing at a CAGR of 12.2% during the forecast period. MARKET DYNAMICS DRIVERS •Increased need to establish learning behavior with customers •Demand for enhanced customer satisfaction and responsiveness •Need for companies to drive increased customer loyalty •Focus on establishing coordination among customer contact channels and customer experience management personnel RESTRAINTS •Use of incomplete data while calculating CE matrix •Data synchronization complexities OPPORTUNITIES •Growth in collection of information using single platform •Increasing use of insights to predict customer intents •Increasing extraction of information extracted from CEM solutions for optimal strategies According to Market Research Download PDF for game changing business opportunities Top Companies Customer Experience Management Industry Include: •Adobe (US) •IBM (US) •Oracle (US)

2. •Avaya (US) •Nice (Israel) •Nokia (Finland) •SAP (Germany) As businesses recognize the significance of building lasting customer relationships, they invest in strategies and technologies to optimize every customer journey touchpoint. The infusion of advanced technologies like AI, data analytics, and omnichannel platforms empowers companies to not only understand customer preferences but also to anticipate their needs. This evolution reflects a fundamental understanding that superior customer experiences are no longer optional but essential for differentiation, loyalty, and sustained success in today’s competitive market landscape. The services to record a higher growth rate during the forecast period As businesses increasingly prioritize tailored customer interactions and seamless multichannel engagement, the demand for specialized services is poised to surge. These services encompass diverse offerings, from strategic consulting and implementation to continuous support and training. The services segment becomes an indispensable element of successful customer experience management strategies by aligning solutions with unique business needs and enhancing customer engagement. This heightened emphasis on comprehensive services is poised to significantly bolster the growth trajectory of the customer experience management market, emphasizing their instrumental role in driving the effective and sustainable implementation of customer-centric approaches. Download Sample Report Cloud deployment mode is expected to have a higher growth rate during the forecast period Businesses increasingly recognize the advantages of cloud-based solutions in enabling seamless, scalable, and cost-effective implementation of customer-centric strategies. Cloud deployment allows access to data and tools from anywhere, ensuring real-time insights and personalized engagements. This aligns well with the evolving customer expectations for on-demand interactions across multiple touchpoints. As companies seek to streamline operations, enhance agility, and cater to digital-savvy customers, the cloud deployment mode emerges as a critical driver of growth in the customer experience management landscape. North America to hold the largest market size duringthe forecast period The dominance is attributed to the region's robust technological infrastructure, widespread digital adoption, and heightened customer-centric strategies embraced by

3. businesses. With an emphasis on tailored interactions, data-driven insights, and seamless multichannel experiences, North American enterprises are well-positioned to excel in delivering exceptional customer experiences. The region's mature market, strong economic foundation, and cultural focus on customer satisfaction contribute to its leading position in the customer experience management domain. As companies prioritize customer engagement and loyalty, North America is set to shape the market’s trajectory through innovation and fostering long-lasting customer connections. Market Players The major players in the customer experience management market are Adobe (US), IBM (US), Oracle (US), Avaya (US), Nice (Israel), Nokia (Finland), SAP (Germany), OpenText (Canada), Tech Mahindra (India), Verint Systems (US), Zendesk (US), Teradata (US), Sprinklr (US), Medallia (US), InMoment (US), SAS (US), Clarabridge (US), Sitecore (US), NGDATA (Belgium), Amperity (US), Mixpanel (US), Segment.io (US), Skyvera (US), MindTouch (US), Algonomy (US), and Sogolytics (US). About MarketsandMarkets™ MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients. The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. Built on the ’GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry. To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook. Contact: Mr. Rohan Salgarkar MarketsandMarkets Inc. 1615 South Congress Ave.

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