Customer Experience Monitoring Market Size, Share & Trends Analysis Report By Solution (Feedback Management, Customer Analytics), By End-use (Healthcare, Government), By Type, By Region, And Segment Forecasts, 2024 - 2030

Market Size & Trends

The global customer experience monitoring market size was estimated at USD 2.80 billion in 2023 and is projected to grow at a CAGR of 24.9% from 2024 to 2030. The market is driven by the digital transformation of businesses, with companies increasingly adopting omnichannel strategies to engage customers across various platforms (web, mobile, and social media). The rise of mobile commerce, social media engagement, and online reviews has amplified the need for real-time monitoring of customer feedback and sentiment. In addition, advancements in artificial intelligence (AI) and machine learning (ML) are enabling deeper insights into customer behavior, helping companies to personalize experiences and predict customer needs proactively.

As customer acquisition costs continue to rise, businesses are increasingly prioritizing customer retention as a strategic focus. Retaining existing customers is often more cost-effective than acquiring new ones, as it can cost up to five times more to attract a new customer than to keep an existing one. This shift is driven by the realization that loyal customers not only contribute to consistent revenue but are also more likely to advocate for the brand, leading to organic growth through word-of-mouth and referrals. To enhance customer retention, companies are focusing on delivering high-quality customer experiences across every touchpoint. By monitoring customer interactions, feedback, and behavior, businesses can identify pain points and opportunities for improvement. Tools like customer feedback management, real-time monitoring, and sentiment analysis allow companies to be proactive in addressing customer issues and personalizing their experiences, increasing satisfaction and loyalty.

Digital transformation has fundamentally reshaped customer interactions, with businesses increasingly engaging through digital channels like websites, mobile apps, and social media. This shift has expanded the volume and complexity of customer touchpoints, making it crucial for companies to implement robust monitoring solutions. Real-time tracking of customer experiences across these channels allows businesses to respond quickly, optimize interactions, and deliver personalized experiences. As customers expect seamless digital interactions, monitoring solutions help ensure consistent quality, improve customer satisfaction, and support the overall customer experience strategy in an increasingly digital business environment.

Solution Insights

The feedback management segment accounted for the largest market share of over 38% in 2023. Businesses are increasingly adopting customer-centric strategies, recognizing the crucial role of customer feedback in improving products, services, and overall experiences. By gathering and analyzing feedback, companies gain insights into customer preferences, pain points, and expectations. This enables them to make informed decisions that better align with customer needs. Acting on this feedback helps businesses enhance customer satisfaction, build loyalty, and foster long-term relationships. In a competitive market, this customer-centric approach is essential for staying ahead, as it drives continuous improvement and ensures that businesses meet and exceed customer expectations consistently.

The customer analytics segment is expected to grow at a CAGR of 25.9% during the forecast period. Businesses are increasingly relying on data for decision-making, using customer analytics to gain deep insights into behavior, preferences, and patterns. This data-driven approach enables companies to make informed decisions that enhance customer experience. By understanding these insights, businesses can tailor their strategies, create personalized interactions, and deliver more impactful experiences, ultimately improving customer satisfaction and driving better outcomes. Personalization is crucial for driving customer satisfaction and retention. By analyzing customer data, businesses can deliver tailored recommendations, targeted marketing, and customized experiences that resonate with individual preferences. This personalized approach fosters deeper connections with customers, enhancing loyalty and reducing churn. As a result, businesses that effectively utilize customer analytics for personalization are better positioned to retain customers and ensure long-term success in competitive markets.

Type Insights

The PC terminal segment held a market share of over 63% in 2023 and is expected to dominate the market by 2030. Enterprise-level customer experience monitoring tools are often designed for use on PC terminals, which provide the necessary capabilities for handling complex, large-scale operations. PCs offer powerful processing power and large screen sizes, ideal for managing and analyzing extensive customer data. They support advanced functionalities, such as integrating with other enterprise systems like CRM and ERP, facilitating a unified view of customer interactions and feedback. This integration is crucial for cohesive management and accurate analysis across various departments. In addition, PCs enable detailed reporting, custom dashboard creation, and real-time monitoring, making them essential for enterprises that need to manage and optimize comprehensive customer experience strategies effectively.

The mobile terminal segment is expected to grow at a CAGR of 25.6% over the forecast period. The rise in smartphone and tablet usage has driven a significant increase in customer interactions through mobile channels. This trend has prompted companies to invest in mobile CX monitoring to track and enhance these interactions effectively. Mobile terminals facilitate real-time feedback collection through apps and mobile surveys, enabling businesses to gather insights instantly. This immediacy allows companies to promptly address customer issues and refine experiences based on up-to-date data. By focusing on mobile CX monitoring, businesses can ensure a seamless and responsive experience across mobile platforms, meeting customer expectations and fostering satisfaction in an increasingly mobile-first world.

End-use Insights

The retail & e-commerce segment held a global market share of over 28% in 2023, and it is expected to dominate the market by 2030. The shift to e-commerce has heightened the need for retailers to monitor and enhance customer experiences across digital platforms. To ensure smooth, personalized online shopping experiences from browsing to checkout, retailers are investing in CX monitoring tools. In addition, as omnichannel strategies become prevalent, retailers are integrating in-store, online, and mobile experiences. CX monitoring solutions track customer interactions across all these channels, helping ensure a consistent and seamless experience. This approach is essential for retaining customers and fostering loyalty, as it allows businesses to meet evolving customer expectations and create a unified brand experience across different touchpoints.

The hospitality segment is expected to grow at a CAGR of 26.0% over the forecast period. With an increased focus on guest loyalty, hotels and resorts are using customer experience (CX) monitoring tools to better understand guest preferences and behaviors. These insights allow them to tailor services, enhance satisfaction, and optimize loyalty programs. By providing personalized experiences, businesses can improve retention and build long-term relationships with their guests. Simultaneously, the hospitality industry is embracing digital touchpoints to enhance convenience and guest experiences. From mobile apps for booking and digital check-ins to smart room controls, these innovations improve the overall guest journey. CX monitoring tools track interactions across these digital platforms, ensuring a seamless and tech-enabled experience. By monitoring and analyzing guest feedback in real time, hospitality businesses can continuously refine their digital services and deliver superior, personalized experiences that drive guest loyalty.

Regional Insights

The customer experience monitoring market in North America held the largest market share of over 37% globally in 2023. In North America, companies are increasingly adopting customer-centric business models, prioritizing customer satisfaction and loyalty as key drivers of success. This shift is fueled by the recognition that positive customer experiences lead to long-term relationships and sustained revenue growth. Customer experience (CX) monitoring tools are essential in this transformation, providing businesses with insights into customer needs, behaviors, and interactions across various touchpoints. By tracking and analyzing this data, companies can identify pain points, optimize experiences, and deliver personalized services that resonate with customers. This focus on enhancing the overall customer journey helps businesses retain customers, reduce churn, and differentiate themselves in competitive markets, making CX monitoring a crucial component of modern business strategies.

U.S. Customer Experience Monitoring Market Trends

The customer experience monitoring market in the U.S. is growing significantly at a CAGR of 24.4% from 2024 to 2030. The expansion of e-commerce and digital services in the U.S. has resulted in a surge of online customer interactions, making seamless digital experiences more critical than ever. As customers increasingly engage with brands through websites, mobile apps, and digital channels, businesses are investing in Customer Experience (CX) monitoring tools to optimize these touchpoints. These tools help companies track website performance, mobile app usability, and digital customer support efficiency in real time. By identifying and addressing issues promptly, businesses can ensure a smooth, personalized experience that meets customer expectations. In an era where digital interactions dominate, CX monitoring is essential for enhancing customer satisfaction, reducing friction, and maintaining a competitive edge in the e-commerce and digital services sectors.

Asia Pacific Customer Experience Monitoring Market Trends

The customer experience monitoring market in Asia Pacific is growing significantly at a CAGR of 26.3% from 2024 to 2030. The Asia Pacific (APAC) region is undergoing rapid digitalization, with a significant rise in e-commerce and the widespread adoption of digital services. As businesses shift their operations online, the demand for Customer Experience (CX) monitoring tools has surged. These tools are essential for ensuring smooth and optimized digital experiences across various platforms, including websites, mobile apps, and social media. With an increasingly tech-savvy consumer base, businesses need to meet growing customer expectations for seamless interactions. CX monitoring solutions help companies identify and address issues in real time, enhance user experiences, and improve customer satisfaction. This focus on digital transformation is driving the adoption of CX monitoring tools across the APAC region, making them crucial for business success.

Europe Customer Experience Monitoring Market Trends

The customer experience monitoring market in Europe is growing significantly at a CAGR of 25.0% from 2024 to 2030. The expansion of e-commerce in Europe, accelerated by the pandemic, has intensified the need for businesses to invest in CX monitoring tools. These tools ensure seamless digital experiences by optimizing website performance, mobile app usability, and customer support. Simultaneously, European companies are adopting advanced technologies like AI and predictive analytics to enhance customer experience strategies. CX monitoring tools that incorporate these technologies enable businesses to gain deeper insights into customer behavior, anticipate needs, and make real-time improvements. This combination of e-commerce growth and technological adoption is driving the demand for sophisticated CX monitoring solutions in Europe.

Key Customer Experience Monitoring Insights

Key players operating in the market include RADCOM Ltd., Aternity, Inc., Oracle Corporation, RadioOpt GmbH, BMC Software, Inc., Startek, CA Technologies, Inc., Comarch SA, Riverbed Technology, Inc., Compuware Corporation, and CorrelSense, Inc. The companies are focusing on various strategic initiatives, including new product development, partnerships & collaborations, and agreements to gain a competitive advantage over their rivals. The following are some instances of such initiatives.

• In May 2024, Startek launched a generative AI platform aimed at empowering customer Customer Analytics agents and enhancing overall customer experience. This platform integrates AI-driven capabilities to assist agents with real-time support, improve decision-making, and deliver more personalized customer interactions. The AI platform helps streamline processes, boosts efficiency, and elevates the quality of customer Customer Analytics, allowing agents to focus on complex issues while AI handles routine queries.

• In September 2023, Oracle Corporation introduced generative AI capabilities to enhance customer Customer Analytics for organizations. These AI-powered tools help businesses automate responses, assist customer Customer Analytics agents with complex queries, and deliver personalized customer interactions at scale. The integration of generative AI aims to improve efficiency, reduce response times, and enhance overall customer satisfaction by providing more accurate and relevant solutions in real-time. This technology also helps businesses better understand customer needs and improve Customer Analytics quality.

Customer Experience Monitoring Market Report Scope

Global Customer Experience Monitoring Market Report Segmentation

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends from 2018 to 2030 in each of the sub-segments. For this study, Grand View Research has segmented the global customer experience monitoring market report based on solution, type, end use, and region:

• Customer Experience Monitoring Solution Outlook (Revenue, USD Billion, 2018 - 2030)

  • Feedback Management

  • Customer Analytics

  • Customer Journey Analytics

  • Sentiment Analysis

  • Real-time Monitoring

• Customer Experience Monitoring Type Outlook (Revenue, USD Billion, 2018 - 2030)

  • PC Terminal

  • Mobile Terminal

• Customer Experience Monitoring End Use Outlook (Revenue, USD Billion, 2018 - 2030)

  • BFSI

  • Retail & E-Commerce

  • Healthcare

  • IT & Telecommunications

  • Government

  • Hospitality

  • Others

• Customer Experience Monitoring Regional Outlook (Revenue: USD Billion; 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • UK

    • Germany

    • France

  • Asia Pacific

    • China

    • India

    • Japan

    • Australia

    • South Korea

  • Latin America

    • Brazil

  • Middle East & Africa (MEA)

    • UAE

    • Saudi Arabia

    • South Africa