Customer Engagement Solutions Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis
The customer engagement solution is the facility that provides a level of interaction between consumers and an organization directly or indirectly through the different channel of communication ranging from online or offline services. This connection helps to improve customer experience and customer engagement as they seek huge profit as well as revenues and higher customer lifetime value. Customer engagement solutions help the customer to solve their problems with the speed and make suggestions on how to improve themselves.
Increasing use of e-commerce platforms, growing adoption of customer engagement solutions as well as smartphones and tablets are some of the major factors which are contributing to the growth of the global customer engagement solutions market. However, customized expectations of customers and complexities to synchronize data between customer engagement solution and other technology are the factors hindering the growth of the global customer engagement solution market.
The "Global Customer Engagement Solutions Market Analysis to 2031" is a specialized and in-depth study of the customer engagement solutions with a focus on the global customer engagement solutions market trend. The report aims to provide an overview of global customer engagement solutions market with detailed market segmentation by component, organization size, deployment model, vertical and geography. The global customer engagement solutions market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading market players and offers key trends and opportunities in the market.
The customer engagement solutions market report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global customer engagement solutions market based on by component, organization size, deployment model and vertical. It also provides market size and forecast till 2031 for overall customer engagement solutions market with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America (SAM). The market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 16 counties globally along with current trend and opportunities prevailing in the region.
Besides this, the report analyzes factors affecting customer engagement solution market from both demand and supply side and further evaluates market dynamics affecting the customer engagement solution market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors affecting the market in these regions.
Also, key customer engagement solutions market players influencing the market are profiled in the study along with their SWOT analysis and market strategies. The report also focuses on leading industry players with information such as company profiles, products, and services offered, financial information of the last 3 years, a key development in the past five years. Some of the key players influencing the customer engagement solutions market are Aspect Software, Inc., Microsoft Corporation, IBM Corporation, Calabrio, Inc., Avaya Inc., Oracle Corporation, OpenText Corporation, SAP SE, Pegasystems Inc. and Nuance Communications, Inc. among others.
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Table of Contents
1 Introduction
1.1 Scope of Study
1.2 The Insight Partners Research Report Guidance
2 Key Takeaways
3 Customer Engagement Solutions Market Landscape
3.1 Market Overview
3.2 Market Segmentation
3.2.1 Customer Engagement Solutions Market - By Component
3.2.2 Customer Engagement Solutions Market - By Organization Size
3.2.3 Customer Engagement Solutions Market - By Deployment Model
3.2.4 Customer Engagement Solutions Market - By Vertical
3.2.5 Customer Engagement Solutions Market - By Region
3.2.5.1 By Countries
3.3 PEST Analysis
3.3.1 North America - PEST Analysis
3.3.2 Europe - PEST Analysis
3.3.3 Asia Pacific - PEST Analysis
3.3.4 Middle East and Africa - PEST Analysis
3.3.5 South America - PEST Analysis
4 Customer Engagement Solutions Market - Key Industry Dynamics
4.1 Key Market Drivers
4.2 Key Market Restraints
4.3 Key Market Opportunities
4.4 Future Trends
4.5 Impact Analysis
5 Customer Engagement Solutions Market Analysis- Global
5.1 Global Customer Engagement Solutions Market Overview
5.2 Global Customer Engagement Solutions Market Forecasts and Analysis
6 Customer Engagement Solutions Market Revenue and Forecasts to 2028 - Component
6.1 Overview
6.2 Component Market Forecasts and Analysis
6.3 Solution Market
6.3.1 Overview
6.3.2 Solution Market Forecasts and Analysis
6.3.2.1 Workforce Optimization Market
6.3.2.1.1 Overview
6.3.2.1.2 Workforce Optimization Market Forecasts and Analysis
6.3.2.2 Analytics & Reporting Market
6.3.2.2.1 Overview
6.3.2.2.2 Analytics & Reporting Market Forecasts and Analysis
6.4 Service Market
6.4.1 Overview
6.4.2 Service Market Forecasts and Analysis
6.4.2.1 Professional Services Market
6.4.2.1.1 Overview
6.4.2.1.2 Professional Services Market Forecasts and Analysis
6.4.2.2 Managed Services Market
6.4.2.2.1 Overview
6.4.2.2.2 Managed Services Market Forecasts and Analysis
7 Customer Engagement Solutions Market Revenue and Forecasts to 2028 - Organization Size
7.1 Overview
7.2 Organization Size Market Forecasts and Analysis
7.3 Large Enterprises Market
7.3.1 Overview
7.3.2 Large Enterprises Market Forecasts and Analysis
7.4 Small & Medium Enterprises (SMEs) Market
7.4.1 Overview
7.4.2 Small & Medium Enterprises (SMEs) Market Forecasts and Analysis
8 Customer Engagement Solutions Market Revenue and Forecasts to 2028 - Deployment Model
8.1 Overview
8.2 Deployment Model Market Forecasts and Analysis
8.3 On-Premises Market
8.3.1 Overview
8.3.2 On-Premises Market Forecasts and Analysis
8.4 Cloud-based Market
8.4.1 Overview
8.4.2 Cloud-based Market Forecasts and Analysis
9 Customer Engagement Solutions Market Revenue and Forecasts to 2028 - Vertical
9.1 Overview
9.2 Vertical Market Forecasts and Analysis
9.3 Banking, Financial services and Insurance (BFSI) Market
9.3.1 Overview
9.3.2 Banking, Financial services and Insurance (BFSI) Market Forecasts and Analysis
9.4 Healthcare and Life Sciences Market
9.4.1 Overview
9.4.2 Healthcare and Life Sciences Market Forecasts and Analysis
9.5 Transportation Market
9.5.1 Overview
9.5.2 Transportation Market Forecasts and Analysis
9.6 Media and Entertainment Market
9.6.1 Overview
9.6.2 Media and Entertainment Market Forecasts and Analysis
9.7 Retail Market
9.7.1 Overview
9.7.2 Retail Market Forecasts and Analysis
9.8 IT & Telecommunication Market
9.8.1 Overview
9.8.2 IT & Telecommunication Market Forecasts and Analysis
9.9 Manufacturing Market
9.9.1 Overview
9.9.2 Manufacturing Market Forecasts and Analysis
9.10 Others Market
9.10.1 Overview
9.10.2 Others Market Forecasts and Analysis
10 Customer Engagement Solutions Market Revenue and Forecasts to 2028 - Geographical Analysis
10.1 North America
10.1.1 North America Customer Engagement Solutions Market Overview
10.1.2 North America Customer Engagement Solutions Market Forecasts and Analysis
10.1.2.1 North America Market Forecasts and Analysis - By Countries
10.1.2.1.1 US market
10.1.2.1.2 Canada market
10.1.2.1.3 Mexico market
10.1.3 North America Market Forecasts and Analysis - By Component
10.1.4 North America Market Forecasts and Analysis - By Organization Size
10.1.5 North America Market Forecasts and Analysis - By Deployment Model
10.1.6 North America Market Forecasts and Analysis - By Vertical
10.2 Europe
10.2.1 Europe Customer Engagement Solutions Market Overview
10.2.2 Europe Customer Engagement Solutions Market Forecasts and Analysis
10.2.2.1 Europe Market Forecasts and Analysis - By Countries
10.2.2.1.1 France market
10.2.2.1.2 Germany market
10.2.2.1.3 Italy market
10.2.2.1.4 Spain market
10.2.2.1.5 UK market
10.2.2.2 Europe Market Forecasts and Analysis - By Component
10.2.2.3 Europe Market Forecasts and Analysis - By Organization Size
10.2.2.4 Europe Market Forecasts and Analysis - By Deployment Model
10.2.2.5 Europe Market Forecasts and Analysis - By Vertical
10.3 Asia pacific (APAC)
10.3.1 Asia Pacific Customer Engagement Solutions Market Overview
10.3.2 Asia Pacific Customer Engagement Solutions Market Forecasts and Analysis
10.3.2.1 Asia Pacific Market Forecasts and Analysis - By Countries
10.3.2.1.1 Australia market
10.3.2.1.2 China market
10.3.2.1.3 India market
10.3.2.1.4 Japan market
10.3.3 Asia Pacific Market Forecasts and Analysis - By Component
10.3.4 Asia Pacific Market Forecasts and Analysis - By Organization Size
10.3.5 Asia Pacific Market Forecasts and Analysis - By Deployment Model
10.3.6 Asia Pacific Market Forecasts and Analysis - By Vertical
10.4 Middle East and Africa (MEA)
10.4.1 Middle East and Africa Customer Engagement Solutions Market Overview
10.4.2 Middle East and Africa Customer Engagement Solutions Market Forecasts and Analysis
10.4.2.1 Middle East and Africa Market Forecasts and Analysis - By Countries
10.4.2.1.1 South Africa market
10.4.2.1.2 Saudi Arabia market
10.4.2.1.3 UAE market
10.4.3 Middle East and Africa Market Forecasts and Analysis - By Component
10.4.4 Middle East and Africa Market Forecasts and Analysis - By Organization Size
10.4.5 Middle East and Africa Market Forecasts and Analysis - By Deployment Model
10.4.6 Middle East and Africa Market Forecasts and Analysis - By Vertical
10.5 South America (SAM)
10.5.1 South America Customer Engagement Solutions Market Overview
10.5.2 South America Customer Engagement Solutions Market Forecasts and Analysis
10.5.2.1 South America Market Forecasts and Analysis - By Countries
10.5.2.1.1 Brazil market
10.5.3 South America Market Forecasts and Analysis - By Component
10.5.4 South America Market Forecasts and Analysis - By Organization Size
10.5.5 South America Market Forecasts and Analysis - By Deployment Model
10.5.6 South America Market Forecasts and Analysis - By Vertical
11 Industry Landscape
11.1 Mergers & acquisitions
11.2 Market Initiatives
11.3 New developments
11.4 Investment scenarios
12 Competitive Landscape
12.1 Competitive Product mapping
12.2 Market Positioning/ Market Share
13 Customer Engagement Solutions Market, Key Company Profiles
13.1 Aspect Software, Inc.
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Financial Overview
13.1.4 SWOT Analysis
13.1.5 Key Developments
13.2 Microsoft Corporation
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Financial Overview
13.2.4 SWOT Analysis
13.2.5 Key Developments
13.3 IBM Corporation
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Financial Overview
13.3.4 SWOT Analysis
13.3.5 Key Developments
13.4 Calabrio, Inc.
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Financial Overview
13.4.4 SWOT Analysis
13.4.5 Key Developments
13.5 Avaya Inc.
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Financial Overview
13.5.4 SWOT Analysis
13.5.5 Key Developments
13.6 Oracle Corporation
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Financial Overview
13.6.4 SWOT Analysis
13.6.5 Key Developments
13.7 OpenText Corporation
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Financial Overview
13.7.4 SWOT Analysis
13.7.5 Key Developments
13.8 SAP SE
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Financial Overview
13.8.4 SWOT Analysis
13.8.5 Key Developments
13.9 Pegasystems Inc.
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Financial Overview
13.9.4 SWOT Analysis
13.9.5 Key Developments
13.10 Nuance Communications, Inc.
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Financial Overview
13.10.4 SWOT Analysis
13.10.5 Key Developments
14 Appendix
14.1 About The Insight Partners
14.2 Glossary of Terms
14.3 Research Methodology
NOTE:
• This ToC is tentative in nature and is subject to further refinement during the course of the research study
• The list of company profiles included in this ToC is tentative. Profiles of specific players, if required, shall be added to the report upon request.
The List of Companies
1. Aspect Software, Inc.
2. Microsoft Corporation
3. IBM Corporation
4. Calabrio, Inc.
5. Avaya Inc.
6. Oracle Corporation
7. OpenText Corporation
8. SAP SE
9. Pegasystems Inc.
10. Nuance Communications, Inc.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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