The Customer Engagement Solution Market Is Expected To Grow At A 12% Rate, Driven By The High Penetration Of The Internet As Per The Business Research Company's Customer Engagement Solution Global Market Report 2022
TBRC’s market research report covers customer engagement solution market size, customer engagement solution market forecasts, major customer engagement solution companies and their market share, key strategies to undertake, and more.
/EIN News/ -- LONDON, Aug. 09, 2022 (GLOBE NEWSWIRE) -- According to The Business Research Company’s research report on the customer engagement solution market, the high penetration of the internet is expected to propel the growth of the customer engagement solutions market going forward. The Internet refers to a worldwide network that helps to transmit a variety of data and media across interconnected devices. The Internet is used in customer engagement solutions for answering customer questions digitally using tools such as email, social media, live chat, and messaging apps. For instance, in March 2021, according to Internet World Stats, a US-based internet statistics providing company, internet users rose from 4.5 billion in June 2019 to 5.1 billion in 2021 worldwide, with a penetration rate of 65.6%. Furthermore, the average global Internet user spends 6 hours and 43 minutes online each day. Therefore, the high penetration of the internet is driving the customer engagement solutions market.
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The global customer engagement solution market share is expected to grow from $15.32 billion in 2021 to $17.83 billion in 2022 at a compound annual growth rate (CAGR) of 16.4%. The global customer engagement solution market growth is expected to reach $28.32 billion in 2026 at a CAGR of 12.3%.
Technological innovations are gaining popularity in the customer engagement solution market trends. Major companies operating in the customer engagement solutions sector are introducing new technological innovations to reinforce their position in the market. For instance, in May 2019, Verint Systems Inc., a US-based manufacturer of software and hardware products for customer engagement management and business intelligence, launched its customer engagement software called Verint Unified VoC. This software provides a complete view of direct, indirect, and inferred VoC from across key customer engagement channels. This is a customer engagement channel that has powerful, automated analytics that provide customer engagement solutions to deliver actionable insights.
Major players in the customer engagement solution market are Aspect Software Inc., Avaya Inc., Calabrio Inc., Genesys, IBM Corporation, Microsoft Corporation, NICE Systems Ltd., Nuance Communications Inc., OpenText Corporation, Oracle Corporation, Pegasystems Inc., Pitney Bowes Inc., Salesforce Inc., SAP SE, ServiceNow Inc., SugarCRM Inc., Verint Systems Inc., Zendesk Inc., Bpmonline, Crmnext, eGain Corporation, Eptica, Freshworks Inc., Ifs-Mplsystems, and Lithium Technologies LLC.
The global customer engagement solution industry analysis is segmented by component into solution, services; by deployment type into on-premise, cloud; by organization size into small and medium enterprises, large enterprises; by vertical into BFSI, consumer goods and retail, telecommunication, healthcare and life sciences, automotive and transportation, media and entertainment, travel and hospitality, manufacturing, others.
North America was the largest region in the customer engagement solutions market in 2021. Asia-Pacific is expected to be the fastest-growing region in the global customer engagement solutions market during the forecast period. The regions covered in the global customer engagement solutions market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Customer Engagement Solution Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provide customer engagement solutions market overviews, customer engagement solutions market analyze and forecast market size and growth for the whole market, customer engagement solutions market segments and geographies, customer engagement solutions market trends, customer engagement solutions market drivers, customer engagement solutions market restraints, leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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