Global Customer Engagement Software
Market Report
2024
Delivery Includes:- Market Timeline 2019 till 2031, Market Size, Revenue/Volume Share, Forecast and CAGR, Competitor Analysis, Regional Analysis, Country Analysis, Segment Analysis, Market Trends, Drivers, Opportunities, Restraints, ESG Analysis, Porters Analysis, PESTEL Analysis, Market Attractiveness, Patent Analysis, Technological Trend, SWOT Analysis, COVID-19 Analysis, Consumer Behavior Analysis, etc.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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According to Cognitive Market Research Global Customer Engagement Software was expected to have a market size of XX million in 2024 with a growing CAGR of XX% during the forecast period.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Market Size | 121212 |
Country Market Size | 121212 |
North Americ Market Size | 121212 |
Europe Market Size | 121212 |
Asia Pacific Market Size | 121212 |
South America Market Size | 121212 |
Middle East and Africa Market Size | 121212 |
Market Split by Component |
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Market Split by Depolyment Type |
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Market Split by Organization Size |
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Market Split by End User |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Key Qualitative Information Covered |
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Customer Engagement Software Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
A customer engagement platform is a single piece of software that tracks, manages, and enables interactions with your prospects and customers. It can be integrated with a variety of consumer engagement methods, including chatbots, email, and direct messaging. The user may utilize all of the interactions and communication channels as building blocks to create automated, omnichannel workflows. Businesses may create cohesive consumer profiles, tailor interactions to individual customers, and foster enduring customer loyalty by leveraging insights from both first-party and zero-party data. Businesses can access a full range of consumer engagement channels by employing CPaaS technology. Also, customers can select how businesses interact with them via SMS, email, and WhatsApp when CPaaS technology is combined with an advanced customer engagement platform that is fueled by a potent customer data platform. Owing to the increasing popularity of smartphones and the internet, consumers can easily find out about a wide range of goods and services via a variety of channels, such as social media, online sites, and other applications. Given that consumers spend more than five hours a day on their mobile devices on average and that there is a plethora of customer touchpoints that they can use to interact with brands and boost sales, such as social media, websites, live chat, phone calls, and in-person support, brands are finding many ways to connect with consumers and boost sales. Businesses are automating their processes by using a variety of engagement solutions in response to this shift in customer behavior. Solutions with multi-channel communication, centralized customer care, and customer insights with analytics support are being used by an increasing number of people. Additionally, manufacturers in the industry are providing unique solutions for different areas in addition to a single solution that can handle a company's needs for client interaction. Furthermore, as part of their digital transformation, several large companies have already begun integrating AI. To cut costs, financial service providers like Capital One, JP Morgan Chase, and Bank of America have successfully optimized their back-end processes, including labor management, by using chatbots as virtual assistants in the past. According to IBM, a business that provides AI solutions for contact centres, bot interactions in the banking sector are anticipated to reach 90% by the conclusion of the following three years. Therefore, it is anticipated that the market for cloud communication platforms will be growing rapidly in the coming years.
The growing use of customer engagement solutions contributes to improving the company's brand image and retaining more customers by turning negative customer experiences into positive ones. Live chat is one feature of communication engagement software that lets companies offer their clients real-time assistance. Businesses can reduce customer churn by promptly resolving questions and issues, which helps to avoid customer aggravation and dissatisfaction. For instance, companies may interact with clients quickly with Zendesk's live chat service, which increases customer satisfaction and decreases attrition rates. Additionally, these programs have characteristics like automated email campaigns and customized messaging for individualized communication. Through customized content and offers that are based on the tastes and behavior of their customers, organizations can lower attrition by increasing customer engagement and loyalty. For instance, businesses can send customized emails that appeal to their target and drive repeat business by using Hubspot's marketing automation platform. Furthermore, the software facilitates the gathering of customer feedback, assisting organizations in comprehending the requirements and inclinations of their clientele. Reacting promptly to this input allows businesses to improve their offers, address problems, and retain customers who may otherwise go elsewhere. For instance, SurveyMonkey provides businesses with the tools to create and distribute surveys, allowing them to get meaningful data that will increase customer satisfaction and retention. Through community-building features like social media integration and forums provided by some communication engagement software platforms, customers may interact with the business and with each other. Companies can create loyal customers who are less likely to leave by fostering a sense of community and offering a peer support forum. For instance, Salesforce's Community Cloud helps companies establish online communities where customers can interact, share ideas, and seek assistance—all of which contribute to strengthening the customer's bond with the brand. Thus, communication engagement software can significantly reduce churn rates by improving customer service, enabling proactive interaction, gathering feedback, building communities, and enabling customized communication. By successfully implementing these strategies, businesses may increase customer satisfaction, loyalty, and retention—all of which will ultimately contribute to long-term success.
The usage of e-commerce and mobile commerce platforms has increased. It is anticipated that the industry will see new avenues for market expansion in addition to new investment options in cutting-edge technologies. Its ease of use, customization options, and developing features are driving the market's growth by giving consumers a smooth and enjoyable shopping experience. Furthermore, the landscape of e-commerce and mobile commerce has evolved significantly in recent years, opening up new avenues for the use of tactics that have previously proven successful in the United States. The combination of e-commerce and m-commerce platforms has been a major help in the development of communication engagement software. These platforms facilitate simple communication between businesses and their customers, increasing customer happiness and engagement. One well-known example is how companies are using mobile apps to enhance customer service. For instance, when retail giant Walmart launched its mobile app, customers could browse products, receive personalized recommendations, and instantly contact customer support. Walmart engages customers more and fosters a more dynamic and responsive relationship with them by providing real-time updates on order status, promotions, and personalized offers through this app. E-commerce websites have also played a crucial role in fostering connection and interaction. For instance, Amazon helps with both product sales and customer support through its e-commerce platform. Through features like Q&A sections, seller feedback methods, and product evaluations, customers can engage with sellers and each other, creating a vibrant community on the platform. This exchange not only fosters trust but also provides customers and sellers with useful information that promotes further engagement and loyalty. Additionally, businesses can streamline customer support processes by incorporating communication interaction capabilities into online shopping carts. Furthermore, e-commerce and m-commerce platforms serve as effective channels for marketing and promotion, which raises user involvement. For instance, the clothing retailer ASOS provides its customers with personalized recommendations, tailored promotions, and interactive content via its mobile app and website. With the use of communication engagement technologies and data analytics, ASOS successfully engages its audience, boosting conversion rates and fostering repeat business. The way businesses engage with their clients has been revolutionized by the merging of communication engagement software with m-commerce and e-commerce platforms. It is expected from businesses like Walmart, Amazon, Shopify, and ASOS that utilization of the software will lead to better consumer experiences, higher engagement, and improved communication—all of which ultimately propel business growth and success.
Customer information is crucial to customer engagement because it facilitates communication between organisations and their clients. Thanks to the intricate nature of touchpoints in the customer feedback process, businesses have accumulated a wealth of data regarding customer expectations and behaviour. Large volumes of data are produced by customer contact centres, and when this data is not synced with other technology, businesses face synchronisation issues. Conflicts may arise when many sources try to update the same piece of data simultaneously. Security problems arise when many systems synchronise their data. Moreover, real-time data synchronisation requires low latency, which can be challenging in distributed systems or networks with varying speeds. Delays in updates can have an impact on decision-making and lead to consistency issues. Organisations find it challenging to organise the diverse types of data they gather from numerous touchpoints, such as emails, social media, mobile phones, and company websites. Furthermore, a solid foundation of organised and unstructured data is required to address these problems, which costs money and time. Furthermore, it takes longer for experts to examine the procedure. This leads to further problems that hinder the market's ability to provide the best return on investment. so limiting the expansion of the market.
The COVID-19 impact the global Customer Engagement Software Market negatively. With the rise in the cases of the pandemic, worldwide restrictions were announced. Nations all over the world have imposed travel restrictions and declared a national lockdown. The interruption of the worldwide supply chain was caused by this total shutdown. This had a very detrimental impact on numerous markets. Since retail and e-commerce companies are the primary users of the software, the market for customer interaction software was severely damaged in the early going. Global lockdown caused the export and import, manufacturing, and transportation to come to a complete stop. As a result, there were fewer possibilities for distribution from one location to another. This led to the entire cessation of online commerce. The customer engagement software suffered greatly in the beginning as a result. But with a greater number of days the world was asked to be at home, the shift towards a digital adoption happened.
Covid-19 let to many people starting to shift their base towards online, in terms of working, purchasing etc. Because customer behaviour changed frequently, using digital technology was essential to survival. After the epidemic, the sales and service sectors continued to adapt to the new beliefs and methods. Businesses moved quickly in the post-crisis era to satisfy client expectations. The increased usage of digital media during the epidemic and the shifting expectations of customers for what constitutes basic digital abilities caused a change in the rules of communication. Plans for a future-focused digital engagement that supported the development of client relationships rather than just digital transactions were being worked on by organisations more and more. Therefore, in the initial period, the market for customer engagement software was affected due to lockdown and restriction but eventually the market gained momentum with time.
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The market for customer engagement software is very competitive. Since there are so many new and significant players in the customer engagement solutions market, and because these providers primarily target small and medium-sized businesses that compete in the large enterprise segment, the industry is boosting. As technology advances, the most effective ways for industry players to gain quick access to expanding markets are predicted to be partnerships, strategic mergers, and acquisitions. For example, RNI announced in May 2023 that its Intelligent Customer Engagement Platform is now available to the general public. This platform is the corporate solution for seamlessly integrating the best-in-class applications for event management, appointment scheduling, and queuing/lobby management. The JRNI Intelligent Customer Engagement Platform may accelerate the lead-to-transaction lifecycle, improve conversion rates, and greatly boost the number of new prospects and customer opportunities. Therefore, the market for customer engagement software is very competitive with players working on strategies and developments.
Top Companies Market Share in Customer Engagement Software Industry: (In no particular order of Rank)
If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.
North America region has the largest market share with an expected market size of XX million in 2024 with a growing CAGR of XX% during the forecast period. The market growth in the region is driven by the advanced technology the region has, the presence of notable customer engagement software solutions such as Oracle Corporation, Nuance Communications, IBM Corporation, Microsoft Corporation, and Salesforce.com Inc., and the early adoption of this software. Moreover, the communications, retail, healthcare, and manufacturing applications in North America are anticipated to experience a considerable growth rate due to the increasing investments in customer engagement software solutions. Therefore, given the number of businesses undergoing digital transformation, it is anticipated that the North American region is expected to be a hub for innovation and have a substantial market share in the customer engagement software market.
The Asia-Pacific region is the fastest growing with an expected market size of XX million in 2024 with a growing CAGR of XX% during the forecast period. The market growth in the region is driven by the rising usage of cloud computing by various enterprises. Various small and medium businesses in nations like Malaysia, Japan, China, India, and Singapore are investing heavily in information technology to compete, secure, and capitalize on the market's digital potential. With the use of customer engagement software, companies in the regions can expand their business and grow. Moreover, with government support, there have been a lot of initiatives and digital projects announced in the various countries of the region. Therefore, it can be anticipated that the market will be growing significantly in the coming years.
The current report Scope analyzes Customer Engagement Software Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only.
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Global Customer Engagement Software Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Customer Engagement Software Industry growth. Customer Engagement Software market has been segmented with the help of its Component , Depolyment Type Organization Size , and others. Customer Engagement Software market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
The Solution Segment has the largest market share with an expected market size of XX million in 2024 with a growing CAGR of XX% during the forecast period. The market growth is driven due to the growing acceptance and popularity of advanced technology models, as well as the strong demand for the design and implementation of new customer interaction solution networks as part of digital transformation initiatives. For instance, Type form offers an intuitive platform for creating engaging surveys, perfect for collecting customer feedback. Appcues is another software that is recommended for user onboarding and engagement in mobile apps. Therefore, it can be anticipated that the market growth will be growing significantly in the coming years.
The Service Segment is the fastest growing with an expected market size of XX million in 2024 with a growing CAGR of XX% during the forecast period. The market growth is driven by significant reductions in the total cost of ownership, faster and higher-quality delivery, and an increase in globally standardized and configurable services. For instance, Zendesk is a self-service platform for customer support that offers a wide range of capabilities, such as live chat and ticketing, to improve customer assistance and engagement through various channels. Using the social media management tool Buffer, is another software that teams can plan posts and track their effectiveness. Therefore, it can be anticipated that the service segment will be growing rapidly in the coming years.
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The Cloud Segment has the largest market share with an expected market size of XX million in 2024 with a growing CAGR of XX% during the forecast period. The cloud is an Internet-accessible distributed network of servers that house infrastructure and applications. Businesses are starting to use cloud storage more frequently. In particular, it is anticipated that the public cloud will gain popularity. This is as a result of lower overhead expenses. Furthermore, cloud computing facilitates the wider possibility of building a reliable data platform that unites several corporate divisions. The market for customer engagement solutions is anticipated to grow as a result. The development of the Internet of Things (IoT) is anticipated to accelerate market expansion even more. The combination of IoT and customer engagement solutions is anticipated to become a significant trend in the global market for customer engagement solutions in the next few years. Therefore, it can be anticipated that the cloud market will be growing rapidly in the future.
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Small and Medium-sized enterprises have the largest market share with an expected market size of XX million in 2024 with a growing CAGR of XX% during the forecast period. Owners of small and medium-sized businesses want to offer a cutting-edge, customized online consumer experience without having to incur major increases in IT expenses. Through artificial intelligence (AI), customer engagement solutions assist organizations in increasing the efficacy of their websites and apps. Businesses can use these technologies to create AI suggestions based on client behavior, including location and past purchases. To enhance the consumer's online experience, they can also employ AI-powered chatbots or virtual assistants to automate human interactions and respond to often requested inquiries. For instance, Amazon’s customer engagement software provides a deep understanding of customers with the use of integrated AWS AI services that automate natural dialogues and provide real-time data for enhanced customer experiences. Small and medium enterprises use this at a very minimal cost without spending much. Hence, the usage of customer engagement software is led by small and medium enterprises.
Retail and consumer good has the largest market share with an expected market size of XX million in 2024 with a growing CAGR of XX% during the forecast period. It is becoming essential for companies looking to prosper in a competitive environment as the retail and consumer goods sectors keep changing and make it easier to integrate with different platforms. Retailers who use customer engagement software to position themselves for success and growth in the digital age do so by putting customers at the center of their plans and utilizing the power of cutting-edge technology. These platforms enable businesses to provide a coherent and uniform consumer experience via a range of touchpoints. Customers receive tailored and pertinent interactions whenever and wherever they choose, whether it's online, in-store, or through other channels like social media. The segmentation capabilities of the platform enable businesses to divide their clientele into discrete groups according to their demographics, preferences, and behavior patterns. The transmission of extremely relevant content and offers is made possible by this accuracy. Retailers can see each customer as a whole because of aggregated data from multiple sources. Businesses can make better decisions about what their clients require by using this thorough profile to better understand them. Retailers use the platforms to plan and carry out focused marketing initiatives. The correct message may be sent to the right audience at the right time using these campaigns, which can be customized to target particular client segments. For instance, more than 250 international retail brands trust OptCulture, demonstrating its efficacy in fostering customer engagement and business expansion. OptCulture's smooth integration with top POS systems, e-commerce sites, and marketing tools throughout the globe is what makes it unique. Businesses save time and effort by avoiding implementation complexities and enabling focused outreach due to this pre-integration. Therefore, it is expected that the market for retail and consumer goods will be growing in the coming years.
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The Global Customer Engagement Software Market is witnessing significant growth in the near future.
In 2023, the Solution segment accounted for noticeable share of global Customer Engagement Software Market and is projected to experience significant growth in the near future.
The On-premise segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies Aspect Software , Avaya and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Please note, we have not disclose, all the sources consulted/referred during a market study due to confidentiality and paid service concern. However, rest assured that upon purchasing the service or paid report version, we will release the comprehensive list of sources along with the complete report and we also provide the data support where you can intract with the team of analysts who worked on the report.
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Component | Solution, Service |
Depolyment Type | On-premise, Cloud |
Organization Size | Small and Medium-sized Enterprise, Large Enterprises |
End User | BFSI, Telecom, and IT, Retail and Consumer Goods, Media and Entertainment |
List of Competitors | Aspect Software, eGain Corporation, Avaya, Calabrio, Genesys, IBM, Microsoft, NICE Systems, Nuance Communications, OpenText, Oracle, Pegasystems, Salesforce, SAP SE, Zendesk, Lithium Technologies, Eptica, Alvaria |
This chapter will help you gain GLOBAL Market Analysis of Customer Engagement Software. Further deep in this chapter, you will be able to review Global Customer Engagement Software Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Chapter 2 North America Market Analysis
Chapter 3 Europe Market Analysis
Chapter 4 Asia Pacific Market Analysis
Chapter 5 South America Market Analysis
Chapter 6 Middle East and Africa Market Analysis
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Chapter 7 Top 10 Countries Analysis (Only Available with Corporate User License)
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Component Analysis 2019 -2031, will provide market size split by Component . This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Component Analysis 2019 -2031
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Chapter 11 Market Split by Depolyment Type Analysis 2019 -2031
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Chapter 12 Market Split by Organization Size Analysis 2019 -2031
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Chapter 13 Market Split by End User Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Customer Engagement Software market
Chapter 14 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Solution have a significant impact on Customer Engagement Software market? |
What are the key factors affecting the Solution and Service of Customer Engagement Software Market? |
What is the CAGR/Growth Rate of On-premise during the forecast period? |
By type, which segment accounted for largest share of the global Customer Engagement Software Market? |
Which region is expected to dominate the global Customer Engagement Software Market within the forecast period? |
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