Latin America Customer Experience Management Market Size & Outlook
Latin America customer experience management market, 2018-2030 (US$M)
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Latin America customer experience management market highlights
- The Latin America customer experience management market generated a revenue of USD 810.9 million in 2023.
- The market is expected to grow at a CAGR of 15.3% from 2024 to 2030.
- In terms of segment, text analytics was the largest revenue generating analytical tools in 2023.
- Speech Analytics is the most lucrative analytical tools segment registering the fastest growth during the forecast period.
- Country-wise, Mexico is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 810.9 million |
| Market revenue in 2030 | USD 2,202.2 million |
| Growth rate | 15.3% (CAGR from 2023 to 2030) |
| Largest segment | Text analytics |
| Fastest growing segment | Speech Analytics |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | EFM Software, Speech Analytics, Text Analytics, Web Analytics & Content Management |
| Key market players worldwide | Adobe Inc, Avaya, Freshworks Inc Ordinary Shares Class A, International Business Machines Corp, Open Text Corp, Oracle Corp, SAP SE, Verint Systems Inc |
Other key industry trends
- In terms of revenue, Latin America region accounted for 6.7% of the global customer experience management market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 7,134.5 million by 2030.
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Customer Experience Management Market Scope
Customer Experience Management Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Latin America customer experience management market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to customer experience management market will help companies and investors design strategic landscapes.
Text analytics was the largest segment with a revenue share of 39.35% in 2023. Horizon Databook has segmented the Latin America customer experience management market based on efm software, speech analytics, text analytics, web analytics & content management covering the revenue growth of each sub-segment from 2018 to 2030.
The IT and telecom industry accounted for a significant share of the regional market as telecom companies in Latin America responded favorably to the regulators’ calls for providing quality customer service and opted for CEM solutions.
While the demand for consumer goods is rising in Latin America; customers in Brazil, Mexico, and other countries in the region are particularly calling for on-demand customer service and personalized engagement across various customer support channels, thereby encouraging CEM solution providers to consider a foray into Latin America and cement their position in the regional market.
The trend of nearshoring IT operations to South America to save the costs associated with deployment and addressing support issues bodes well for the growth of the CEM market. For instance, in January 2020, Sprinklr, a SaaS-based customer experience management platform provider based in the U.S., announced the expansion of its business operations in Mexico and Central America.
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Our clientele includes a mix of customer experience management market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America customer experience management market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America customer experience management market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America customer experience management market size, by country, 2018-2030 (US$M)
Latin America Customer Experience Management Market Outlook Share, 2023 & 2030 (US$M)
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