Spending In Digital Customer Experience and Engagement Solutions Market – Snapshot
Digital customer experience and engagement solutions are cloud-based or on premise solutions that provide efficient management of customer data. Spending in digital customer experience and engagement solutions comprises the expenditure that a company invests in digitalizing the customer experience both at the front end as well as back end. Primarily, the solutions provide customer awareness, customer engagement, online maintenance requests & tracking, transaction processing, online marketing, advertising etc. Spending in digital customer experience and engagement solutions helps organizations to create customer awareness and engagement. Various software are developed for data analytics, marketing, advertising, user interface designing etc. Digital customer experience and engagement solutions are gaining importance in retail, banking, and manufacturing industry. In addition, digital customer experience and engagement solutions providers are emphasizing on developing software solutions and establishing appropriate frameworks to increase the customer base for the companies. Further, the market is flourishing due to the developments in technology as well as the increasing awareness about the technology amongst customers.
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In terms of business type, the spending in digital customer experience and engagement solutions market has been categorized into Business to Business (B2B), Business to Customer (B2C), and Business to Business to Consumer (B2B2C). Touch point segment of the market is bifurcated into social media, Gamification, digital marketing, and mobility. Based on industries, the bifurcation includes banking, insurance, manufacturing, public sector, telecommunications, utilities, retail & wholesale, services & consumer, and transport. In terms of enterprise size, the market is divided into small enterprises, medium enterprises, and large enterprises. Based on solutions, the market is segmented into customer awareness, customer engagement, purchase & relation, and support services. Customer awareness is sub segmented into customer data management platforms, customer analytics, and advertising & marketing. Advertising & marketing comprises email/campaign management, social media analytics, SEO/ Web analytics, targeted marketing, and content marketing. Customer engagement is further sub divided into personalization/ content targeting, cross selling/ up selling, and UI design. Purchase relation segment includes loyalty programs, transactions/ sales, and virtual trials/ displays. Support services segment includes Chatbot, self-serve tools, digital surveys, and case management.
Adoption of B2B business type is growing majorly in North America due to escalation in industrialization and major technological advancements. Social media is projected to be adopted majorly as the channel for customer experience and engagement solutions. In Europe, the retail and wholesale industry is estimated to hold the major share, as customers are becoming digitally conscious. The APAC region will see major adoption of support services followed by customer awareness solutions.
Key players profiled in the spending in digital customer experience and engagement solutions market include Accenture, Capgemini SE, Cognizant, IBM Corporation, KOFAX INC.,Liferay Inc.,MEGA International, NCR Corporation, Orange Business Services, SAS Institute Inc., Tata Consultancy Services Limited, Tieto, and Zendesk, Inc.
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