Market Overview:
The global customer engagement solutions market is expected to grow at a CAGR of 10.8% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for customer engagement solutions across different industries, such as BFSI, consumer goods & retail, telecommunication, healthcare & life sciences, automotive & transportation, media & entertainment, travel & hospitality and manufacturing. In addition, the rising adoption of cloud-based customer engagement solutions and the increasing need for workforce optimization are also contributing to the growth of this market. However, lack of awareness about customer engagement solutions among small businesses is restraining the growth of this market.
Product Definition:
Customer engagement solutions are tools and platforms that allow businesses to interact with their customers in more meaningful ways. These solutions can include anything from social media platforms to customer relationship management (CRM) software. The main purpose of customer engagement solutions is to help businesses better understand their customers and create more personalized interactions with them. This can lead to increased loyalty and sales for businesses.
Omnichannel:
Omnichannel is the integration of more than one channel or medium through which a customer can make a purchase. It includes using more than one type of media, such as the internet, email, text messaging and phone call to interact with customers. The omnichannel strategy helps businesses in gaining maximum customer interaction and engagement across all the channels that are likely to influence buying behavior.
Workforce Optimization:
Workforce optimization is a set of technologies that help businesses to effectively manage their workforces and resources. It helps organizations in improving the quality of decisions, increasing productivity, reducing costs, and enhancing flexibility. Workforce optimization provides an analytical framework for understanding human behavior within an organization as well as across the entire workforce. The technology enables enterprises to make better decisions regarding employee engagement & retention, workplace culture & design along with succession planning among other activities which help them improve business performance significantly.
Application Insights:
The manufacturing sector is expected to emerge as the fastest-growing segment over the forecast period. The growth can be attributed to increasing use of RCS by manufacturers for providing a personalized experience to their customers and improving communication with them. For instance, in June 2017, Panasonic Corporation launched an RCS service for its customers in Japan under the name of ¢â‚¬ËœPanasonic Connected World Limited Edition¢â‚¬â„¢. The service provided by this platform is similar to that offered by Apple Inc., however, it has been customized according to Japanese culture and preferences.
Furthermore, rising demand from BFSI companies for using automation tools such as chatbots and virtual assistants is expected drive industry growth over the coming years.
Regional Analysis:
The CES market in North America is expected to witness significant growth over the forecast period owing to the presence of a large number of market players and increased adoption of automation across various industries. The U.S. has been one of the early adopters for RCS, thus making it an essential component for customer engagement solutions in that country. Furthermore, increasing investments by companies such as IBM Corporation; Salesforce; Microsoft Corporation; Oracle Corporation; and Google Inc.
Moreover, growing penetration rates for internet services in emerging economies such as India.
Growth Factors:
- Increased demand for customer engagement solutions from small and medium businesses (SMBs) due to the growing need to improve customer relationships and drive sales.
- The increasing popularity of cloud-based customer engagement solutions, which are easier and faster to deploy than traditional on-premises software, is helping to fuel market growth.
- The rising demand for omni-channel customer engagement solutions that can support interactions across multiple channels, including social media, chatbots, and voice assistants, is driving market growth.
- The growing use of artificial intelligence (AI) and machine learning technologies in customer engagement solutions is helping organizations boost their sales productivity and improve the overall customer experience.
- The increasing focus on Customer Relationship Management (CRM) by organizations of all sizes is also contributing to market growth as they seek better ways to manage their customers’ interactions with them
Scope Of The Report
Report Attributes
Report Details
Report Title
Customer Engagement Solutions Market Research Report
By Type
Omnichannel, Workforce Optimization, Robotic Process Automation, Analytics & Reporting
By Application
BFSI, Consumer Goods & Retail, Telecommunication, Healthcare & Life Sciences, Automotive & Transportation, Media & Entertainment, Travel & Hospitality, Manufacturing, Others
By Companies
Avaya, Aspect Software, Calabrio, Genesys, IBM, Microsoft, Nice Systems, Nuance Communications, Opentext, Oracle, Pegasystems, Pitney Bowes, Salesforce, SAP, Servicenow, Verint Systems, Zendesk, Egain Corporation, Bpmonline, Crmnext, Eptica, Freshworks, Ifs-Mplsystems, Lithium Technologies, Sugarcrm
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
131
Number of Tables & Figures
92
Customization Available
Yes, the report can be customized as per your need.
Global Customer Engagement Solutions Market Report Segments:
The global Customer Engagement Solutions market is segmented on the basis of:
Types
Omnichannel, Workforce Optimization, Robotic Process Automation, Analytics & Reporting
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
BFSI, Consumer Goods & Retail, Telecommunication, Healthcare & Life Sciences, Automotive & Transportation, Media & Entertainment, Travel & Hospitality, Manufacturing, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Avaya
- Aspect Software
- Calabrio
- Genesys
- IBM
- Microsoft
- Nice Systems
- Nuance Communications
- Opentext
- Oracle
- Pegasystems
- Pitney Bowes
- Salesforce
- SAP
- Servicenow
- Verint Systems
- Zendesk
- Egain Corporation
- Bpmonline
- Crmnext
- Eptica
- Freshworks
- Ifs-Mplsystems
- Lithium Technologies
- Sugarcrm
Highlights of The Customer Engagement Solutions Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Omnichannel
- Workforce Optimization
- Robotic Process Automation
- Analytics & Reporting
- By Application:
- BFSI
- Consumer Goods & Retail
- Telecommunication
- Healthcare & Life Sciences
- Automotive & Transportation
- Media & Entertainment
- Travel & Hospitality
- Manufacturing
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Customer Engagement Solutions Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Customer engagement solutions are a set of tools and processes that help businesses better understand and engage with their customers. They can include things like customer surveys, customer data analysis, and communication strategies.
Some of the major companies in the customer engagement solutions market are Avaya, Aspect Software, Calabrio, Genesys, IBM, Microsoft, Nice Systems, Nuance Communications, Opentext, Oracle, Pegasystems, Pitney Bowes, Salesforce, SAP, Servicenow, Verint Systems, Zendesk, Egain Corporation, Bpmonline, Crmnext, Eptica, Freshworks, Ifs-Mplsystems, Lithium Technologies, Sugarcrm.
The customer engagement solutions market is expected to grow at a compound annual growth rate of 10.8%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Customer Engagement Solutions Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Customer Engagement Solutions Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Customer Engagement Solutions Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Customer Engagement Solutions Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Customer Engagement Solutions Market Size & Forecast, 2018-2028
4.5.1 Customer Engagement Solutions Market Size and Y-o-Y Growth
4.5.2 Customer Engagement Solutions Market Absolute $ Opportunity
Chapter 5 Global Customer Engagement Solutions Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Customer Engagement Solutions Market Size Forecast by Type
5.2.1 Omnichannel
5.2.2 Workforce Optimization
5.2.3 Robotic Process Automation
5.2.4 Analytics & Reporting
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Customer Engagement Solutions Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Customer Engagement Solutions Market Size Forecast by Applications
6.2.1 BFSI
6.2.2 Consumer Goods & Retail
6.2.3 Telecommunication
6.2.4 Healthcare & Life Sciences
6.2.5 Automotive & Transportation
6.2.6 Media & Entertainment
6.2.7 Travel & Hospitality
6.2.8 Manufacturing
6.2.9 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Customer Engagement Solutions Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Customer Engagement Solutions Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Customer Engagement Solutions Analysis and Forecast
9.1 Introduction
9.2 North America Customer Engagement Solutions Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Customer Engagement Solutions Market Size Forecast by Type
9.6.1 Omnichannel
9.6.2 Workforce Optimization
9.6.3 Robotic Process Automation
9.6.4 Analytics & Reporting
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Customer Engagement Solutions Market Size Forecast by Applications
9.10.1 BFSI
9.10.2 Consumer Goods & Retail
9.10.3 Telecommunication
9.10.4 Healthcare & Life Sciences
9.10.5 Automotive & Transportation
9.10.6 Media & Entertainment
9.10.7 Travel & Hospitality
9.10.8 Manufacturing
9.10.9 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Customer Engagement Solutions Analysis and Forecast
10.1 Introduction
10.2 Europe Customer Engagement Solutions Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Customer Engagement Solutions Market Size Forecast by Type
10.6.1 Omnichannel
10.6.2 Workforce Optimization
10.6.3 Robotic Process Automation
10.6.4 Analytics & Reporting
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Customer Engagement Solutions Market Size Forecast by Applications
10.10.1 BFSI
10.10.2 Consumer Goods & Retail
10.10.3 Telecommunication
10.10.4 Healthcare & Life Sciences
10.10.5 Automotive & Transportation
10.10.6 Media & Entertainment
10.10.7 Travel & Hospitality
10.10.8 Manufacturing
10.10.9 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Customer Engagement Solutions Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Customer Engagement Solutions Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Customer Engagement Solutions Market Size Forecast by Type
11.6.1 Omnichannel
11.6.2 Workforce Optimization
11.6.3 Robotic Process Automation
11.6.4 Analytics & Reporting
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Customer Engagement Solutions Market Size Forecast by Applications
11.10.1 BFSI
11.10.2 Consumer Goods & Retail
11.10.3 Telecommunication
11.10.4 Healthcare & Life Sciences
11.10.5 Automotive & Transportation
11.10.6 Media & Entertainment
11.10.7 Travel & Hospitality
11.10.8 Manufacturing
11.10.9 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Customer Engagement Solutions Analysis and Forecast
12.1 Introduction
12.2 Latin America Customer Engagement Solutions Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Customer Engagement Solutions Market Size Forecast by Type
12.6.1 Omnichannel
12.6.2 Workforce Optimization
12.6.3 Robotic Process Automation
12.6.4 Analytics & Reporting
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Customer Engagement Solutions Market Size Forecast by Applications
12.10.1 BFSI
12.10.2 Consumer Goods & Retail
12.10.3 Telecommunication
12.10.4 Healthcare & Life Sciences
12.10.5 Automotive & Transportation
12.10.6 Media & Entertainment
12.10.7 Travel & Hospitality
12.10.8 Manufacturing
12.10.9 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Customer Engagement Solutions Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Customer Engagement Solutions Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Customer Engagement Solutions Market Size Forecast by Type
13.6.1 Omnichannel
13.6.2 Workforce Optimization
13.6.3 Robotic Process Automation
13.6.4 Analytics & Reporting
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Customer Engagement Solutions Market Size Forecast by Applications
13.10.1 BFSI
13.10.2 Consumer Goods & Retail
13.10.3 Telecommunication
13.10.4 Healthcare & Life Sciences
13.10.5 Automotive & Transportation
13.10.6 Media & Entertainment
13.10.7 Travel & Hospitality
13.10.8 Manufacturing
13.10.9 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Customer Engagement Solutions Market: Competitive Dashboard
14.2 Global Customer Engagement Solutions Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Avaya
14.3.2 Aspect Software
14.3.3 Calabrio
14.3.4 Genesys
14.3.5 IBM
14.3.6 Microsoft
14.3.7 Nice Systems
14.3.8 Nuance Communications
14.3.9 Opentext
14.3.10 Oracle
14.3.11 Pegasystems
14.3.12 Pitney Bowes
14.3.13 Salesforce
14.3.14 SAP
14.3.15 Servicenow
14.3.16 Verint Systems
14.3.17 Zendesk
14.3.18 Egain Corporation
14.3.19 Bpmonline
14.3.20 Crmnext
14.3.21 Eptica
14.3.22 Freshworks
14.3.23 Ifs-Mplsystems
14.3.24 Lithium Technologies
14.3.25 Sugarcrm
