North America Customer Experience Management Market To Reach $13.22 Billion By 2030

North America Customer Experience Management Market Growth & Trends

The north america customer experience management market size is expected to reach USD 13.22 billion by 2030, registering a CAGR of 14.6% from 2024 to 2030, according to a new report by Grand View Research, Inc. Owing to the intensifying competition across industries, organizations are steadily shifting from the traditional strategy of chasing sales targets and marketing to providing enhanced customer experience as a way of building long-term relationships with customers.

As a result, it has become essential for an organization to understand the changing needs of customers. Thus, the continuous evaluation of customer feedbacks to fetch valuable customer insights as a way of adding business value is becoming one of the top priorities across industries. Moreover, the rising focus of companies on integration with social media and mobile platforms to connect with customers and deliver enhanced customer service is also expected to drive the adoption of CEM tools in the near future. In addition, big data analytics is transforming business operations and customer interaction, necessitating it for companies to adopt advanced customer experience management solutions.

In terms of deployment, the adoption of cloud-based CEM tools has been on the rise in recent years. Cloud-based CEM solutions help organizations to address customer needs while providing a personalized experience. The cloud facilitates organizations to easily and quickly upgrade features across different channels to accelerate business transformation and, in turn, gain a competitive edge. A notable trend observed in the market is the migration of companies from large CEM vendors to small CEM vendors who offer industry-specific tailor-made solutions. This process is driven by two major factors, including pricing strategies of smaller vendors and their ability to offer customizable solutions. Large vendors are expected not to relinquish their share but witness slow growth.

Another key trend observed in the North America market is the increasing emphasis of large and medium-sized companies on providing multichannel services to deliver a seamless experience to customers across all touch points channels. Organizations are adopting business analytics tools such as sentiment analytics, speech analytics, and text analytics. Such efforts are expected to help enterprises understand the critical insights from unstructured data gathered from interactions with customers to provide enhanced digital services.

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North America Customer Experience Management Market Report Highlights

• Web service segment is expected to grow at the fastest CAGR over the forecast period. The growing reliance on digital interactions between businesses and consumers drives the segment growth

• Speech analytics is expected to register the fastest CAGR of 17.2% over the forecast period. Speech analytics helps businesses better understand customer sentiments, requirements, and challenges.

• The call centers segment held the largest market revenue share in 2023. The growing complexity of products and services requires more personalized and immediate customer support, which call centers are well-equipped to provide.

• The on-premise segment held the largest market revenue share in 2023. On-premise solutions offer greater control over data, reducing the risk of breaches and ensuring compliance with stringent regulatory requirements.

North America Customer Experience Management Market Segmentation

Grand View Research has segmented the North America customer experience management market on the basis of on analytical tools, touch point, deployment, enterprise size, end-use and region:

North America Customer Experience Management Analytical Tools Outlook (Revenue, USD Billion, 2018 - 2030)

• EFM Software

• Speech Analytics

• Text Analytics

• Web Analytics & Content Management

• Others

North America Customer Experience Management Touch Point Outlook (Revenue, USD Million, 2018 - 2030)

• Stores/Branches

• Call Centers

• Social Media Platform

• Email

• Mobile

• Web Services

• Others

North America Customer Experience Management Deployment Outlook (Revenue, USD Million, 2018 - 2030)

• Hosted

• On-Premise

North America Customer Experience Management Enterprise Size Outlook (Revenue, USD Million, 2018 - 2030)

• SMEs

• Large Enterprises

North America Customer Experience Management End-use Outlook (Revenue, USD Million, 2018 - 2030)

• BFSI

• Retail

• Healthcare

• IT & Telecom

• Manufacturing

• Government, Energy & Utilities

• Construction, Real Estate & Property Management

• Service Business

• Others

North America Customer Experience Management Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

List of Key Players in the North America Customer Experience Management Market

• Adobe Inc.

• Avaya Inc.

• Clarabridge

• Freshworks Inc.

• Genesys

• International Business Machines Corp.

• Medallia Inc.

• Open Text Corp.

• Oracle Corporation

• SAP SE