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North America Customer Experience Management Market

North America Customer Experience Management Market

North America Customer Experience Management (CXM) Market, By Offerings (Solution, Services); By Touch Point (Stores/Branches, Call Centers, Social Media Platform, Email, Mobile, Web Services, Others); By Deployment Mode (On-Premises, Cloud); By Enterprise Size (SMEs, Large Enterprises); By End User (BFSI, Retail, Healthcare, Automotive, Travel & Hospitality, Media & Entertainment, Public Sector, Others (Education, Transportation, Logistics)); By Country (United States, Canada), Trend Analysis, Competitive Landscape & Forecast, 2019–2030

  • Published Date: November 2024
  • Report ID: BWC24842
  • Available Format: PDF
  • Page: 255

Report Overview

Increasing adoption of digitalization, technological advancements in cloud and AI solutions, and the need to analyze customer data for business insights drive the growth of North America Customer Experience Management (CXM) Market during the forecast period between 2024 and 2030

North America Customer Experience Management (CXM) Market – Industry Trends & Forecast Report, 2030

North America Customer Experience Management (CXM) Market size by value was estimated at USD 5.28 billion in 2023. During the forecast period between 2024 and 2030, North America Customer Experience Management (CXM) Market size is expected to expand at a CAGR of 15.20% reaching a value of USD 10.70 billion by 2030. North America Customer Experience Management (CXM) Market is driven by the increasing adoption of digitalization, technological advancements in cloud and AI solutions, the need to analyze customer data for business insights, and rising consumer expectations. These factors collectively contribute to the market's growth as businesses strive to enhance customer satisfaction and loyalty.

North America Customer Experience Management Market

Customer Experience Management (CXM) – Overview

Customer Experience Management (CXM) involves strategies and processes used by businesses to track, oversee, and organize every interaction between a customer and the company throughout the customer lifecycle. The aim is to optimize customer satisfaction, loyalty, and advocacy by understanding their needs and behaviors through feedback, data analysis, and personalized services. Effective CXM helps in building strong relationships with customers, enhancing brand reputation, and driving business growth.

North America Customer Experience Management (CXM) Market

Growth Drivers

Rapid Adoption of Digital Technologies Across Industries

The rapid adoption of digital technologies across industries significantly drives North America Customer Experience Management (CXM) Market. Businesses are increasingly leveraging digital tools, such as cloud computing and artificial intelligence, to enhance customer interactions and streamline operations. This digital transformation enables companies to offer personalized experiences, improve customer satisfaction, and gain valuable insights from data analytics, fostering market growth.

Challenges

Data Privacy and Security Concerns

Data privacy and security concerns could significantly restrain the growth of North America Customer Experience Management (CXM) Market. High-profile data breaches and privacy scandals have heightened consumer awareness, leading to a more discerning attitude toward sharing personal information. Companies must balance personalization with privacy, making it a complex challenge to implement effective CXM strategies without compromising customer trust.

Impact of Escalating Geopolitical Tensions on North America Customer Experience Management (CXM) Market

Intensifying geopolitical tensions among countries spreading across the major regions could affect the grwoth of North America Customer Experience Management (CXM) Market. Political, trade, and economic tensions could disrupt global supply chains, leading to shortages of essential communication equipment and increased costs for manufacturers. Additionally, political instabilities could deter investments and affect consumer confidence, leading to reduced spending on Customer Experience Management (CXM) solutions. The resulting economic strain can hinder market growth, despite the rising demand for advanced communication technologies.

North America Customer Experience Management (CXM) Market

Segmental Coverage

North America Customer Experience Management (CXM) Market – By Offerings   

Based on offerings, North America Customer Experience Management (CXM) Market is divided into Solution and Services segments. The solution segment holds a larger market share of North America Customer Experience Management (CXM) Market by offerings. The solution segment leads due to the increasing demand for platforms that enhance customer engagement through advanced analytics, real-time feedback, and omnichannel integration. Companies prioritize solutions to gain actionable insights from customer interactions and improve satisfaction and loyalty. Technologies like AI and machine learning within CXM solutions also drive this segment, enabling predictive analytics and personalized experiences. As businesses aim to retain customers in a competitive market, the solution segment continues to dominate, reflecting the importance of proactive customer experience strategies.

North America Customer Experience Management Market Size

North America Customer Experience Management (CXM) Market – By Touch Point

By touch point, North America Customer Experience Management (CXM) Market is divided into Stores/Branches, Call Centers, Social Media Platform, Email, Mobile, Web Services, and other segments. The stores/branches segment is typically the largest in North America Customer Experience Management (CXM) Market. The segment remains dominant as physical locations continue to play a critical role in customer experience, especially for industries like retail and banking. Despite digital advancements, customers often prefer in-person interactions for personalized assistance and trust-building. However, digital channels, particularly web services and social media platforms, are also expanding rapidly, driven by growing consumer demand for convenience and immediacy. The omnichannel approach, blending physical and digital experiences, reinforces the importance of stores/branches as a central segment in North America's CXM landscape.

North America Customer Experience Management Market Share

North America Customer Experience Management (CXM) Market – By Deployment Mode

By deployment mode, North America Customer Experience Management (CXM) Market is split into On-Premises and Cloud segments. The cloud segment leads the North America Customer Experience Management (CXM) Market, due to the growing preference for scalable, flexible, and cost-effective solutions among businesses. The adoption of cloud-based CXM solutions enables organizations to leverage data analytics, customer insights, and real-time engagement capabilities, which are vital for enhancing customer satisfaction and loyalty. Additionally, cloud solutions support remote access, allowing businesses to operate efficiently across multiple locations and adapt to the rising trend of remote work. This shift towards cloud-based platforms aligns with North America's strong digital infrastructure and focus on customer-centric strategies.

North America Customer Experience Management (CXM) Market – By Enterprise Size

Based on enterprise size, North America Customer Experience Management (CXM) Market is bifurcated into SMEs and Large Enterprises segments. The large enterprises segment holds a larger share of North America Customer Experience Management (CXM) Market. This dominance is driven by the robust adoption of CXM solutions by large companies aiming to enhance customer satisfaction and loyalty in a highly competitive market. These enterprises prioritize customer experience to differentiate themselves, leveraging advanced analytics, AI, and data integration tools to personalize interactions. Additionally, large enterprises have the resources to invest in sophisticated CXM platforms that provide real-time insights and multichannel support, further strengthening their market position.

North America Customer Experience Management (CXM) Market – By End User

On the basis of end user, North America Customer Experience Management (CXM) Market is divided into BFSI, Retail, Healthcare, Automotive, Travel & Hospitality, Media & Entertainment, Public Sector, and other (Education, Transportation, and Logistics) segments. The retail segment represents the largest share of North America Customer Experience Management (CXM) Market. This dominance is driven by the sector's ongoing digital transformation, with a strong focus on enhancing customer engagement and personalizing shopping experiences. Retailers are increasingly adopting CXM solutions to analyze customer behavior, improve satisfaction, and drive loyalty amid competitive market pressures. Rising e-commerce trends and the demand for omnichannel experiences are also boosting CXM adoption within retail. As businesses prioritize real-time insights and proactive customer service, retail's focus on customer-centric strategies further reinforces its leading position in the CXM market.

North America Customer Experience Management Market Demand

North America Customer Experience Management (CXM) Market – By Country

Geographically, North America Customer Experience Management (CXM) Market is divided into United States and Canada. United States holds a larger market share of North America Customer Experience Management (CXM) Market. This dominance is driven by the country's advanced technological infrastructure, high adoption of digital transformation strategies across industries, and a strong focus on customer satisfaction. United States-based companies prioritize enhancing customer interactions through omnichannel strategies, analytics, and AI-driven insights, which fuel demand for comprehensive CXM solutions. Additionally, the presence of major CXM providers and continuous innovation contribute to the growth in this segment, positioning the United States as the leader in North America CXM Market over Canada.

North America Customer Experience Management Trend

Competitive Landscape

Key players in the highly competitive North America Customer Experience Management (CXM) Market include Adobe Inc., Avaya Inc., Clarabridge, Freshworks Inc., Genesys, International Business Machines Corp., Medallia Inc., Open Text Corp., Oracle Corporation, and SAP SE. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Scope of the Report

Attributes

Details

Years Considered

Historical Data – 2019–2023

Base Year – 2023

Estimated Year – 2024

Forecast Period – 2024–2030

Facts Covered

Revenue in USD Billion 

Market Coverage

United States, Canada

Product/Service Segmentation

Offerings, Touch Point, Deployment, Enterprise Size, End User, Country

Key Players

Adobe Inc., Avaya Inc., Clarabridge, Freshworks Inc., Genesys, International Business Machines Corp., Medallia Inc., Open Text Corp., Oracle Corporation, SAP SE

 

By Offerings

  • Solution

  • Services

By Touch Point

  • Stores/Branches

  • Call Centers

  • Social Media Platform

  • Email

  • Mobile

  • Web Services

  • Others

By Deployment Mode

  • On-Premises

  • Cloud

By Enterprise Size

  • SMEs

  • Large Enterprises

By End User

  • BFSI

  • Retail

  • Healthcare

  • Automotive

  • Travel & Hospitality

  • Media & Entertainment

  • Public Sector

  • Others (Education, Transportation, Logistics)

By Country

  • United States

  • Canada

  1. Research Framework
    1. Research Objective
    2. Product Overview
    3. Market Segmentation
  2. Executive Summary
  3. North America Customer Experience Management (CXM) Market Insights
    1. Industry Value Chain Analysis
      1. DROC Analysis
      2. Growth Drivers
        1. Rapid adoption of digital technologies across industries
        2. Rising customer expectations
        3. Increasing focus on data-driven insights
      3. Restraints
        1. Data privacy and security concerns
        2. Complexity of implementation
        3. High initial investment costs
      4. Opportunities
        1. Growing integration of AI and ML
        2. Delivering consistent and personalized experiences across multiple channels
        3. Leveraging real-time feedback mechanisms
      5. Challenges
        1. Ensuring data accuracy and consistency
        2. Lack of skilled workforce
    2. Technological Advancements/Recent Developments
    3. Regulatory Framework
    4. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
  4. North America Customer Experience Management (CXM): Marketing Strategies
  5. North America Customer Experience Management (CXM) Market: Pricing Analysis
  6. North America Customer Experience Management (CXM) Market Overview
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Offerings
        1. Solution
        2. Services
      2. By Touch Point
        1. Stores/Branches
        2. Call Centers
        3. Social Media Platform
        4. Email
        5. Mobile
        6. Web Services
        7. Others
      3. By Deployment Mode
        1. On-Premises
        2. Cloud
      4. By Enterprise Size
        1. SMEs
        2. Large Enterprises
      5. By End User
        1. BFSI
        2. Retail
        3. Healthcare
        4. Automotive
        5. Travel & Hospitality
        6. Media & Entertainment
        7. Public Sector
        8. Others (Education, Transportation, Logistics)
      6. By Country
        1. United States
        2. Canada
  7. United States Electric Commercial Vehicle Market
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Offerings
      2. By Category
      3. By Deployment Mode
      4. By Enterprise Size
      5. By End User
  8. Canada Electric Commercial Vehicle Market
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Offerings
      2. By Category
      3. By Deployment Mode
      4. By Enterprise Size
      5. By End User
  9. Competitive Landscape
    1. List of Key Players and Their Offerings
    2. North America Customer Experience Management (CXM) Company Market Share Analysis, 2023
    3. Competitive Benchmarking, By Operating Parameters
    4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
  10. Impact of Geopolitical Tensions on North America Customer Experience Management (CXM) Market
  11. Company Profiles (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, and SWOT Analysis)
    1. Adobe Inc.
    2. Avaya Inc.
    3. Clarabridge
    4. Freshworks Inc.
    5. Genesys
    6. International Business Machines Corp.
    7. Medallia Inc.
    8. Open Text Corp.
    9. Oracle Corporation
    10. SAP SE
    11. Other Prominent Players
  12. Key Strategic Recommendations
  13. Research Methodology
    1.       Qualitative Research
      1.   Primary & Secondary Research
    2.       Quantitative Research
    3.       Market Breakdown & Data Triangulation
      1.   Secondary Research
      2.   Primary Research
    4.       Breakdown of Primary Research Respondents, By Region
    5.       Assumptions & Limitations

*Financial information of non-listed companies can be provided as per availability.

**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable

 

List of Figures

 

Figure 1       North America Customer Experience Management (CXM) Segmentation

Figure 2       North America Customer Experience Management (CXM) Market Value Chain Analysis

Figure 3       Company Market Share Analysis, 2023

Figure 4       North America Customer Experience Management (CXM) Market Size, By Value (USD Billion), 2019–2030

Figure 5       North America Customer Experience Management (CXM) Market Share, By Offerings, By Value, 2019–2030

Figure 6       North America Customer Experience Management (CXM) Market Share, By Category, By Value, 2019–2030

Figure 7       North America Customer Experience Management (CXM) Market Share, By Deployment Mode, By Value, 2019–2030

Figure 8       North America Customer Experience Management (CXM) Market Share, By Enterprise Size, By Value, 2019–2030

Figure 9       North America Customer Experience Management (CXM) Market Share, By End User, By Value, 2019–2030

Figure 10     North America Customer Experience Management (CXM) Market Share, By Country, By Value, 2019–2030

Figure 11     United States Customer Experience Management (CXM) Market Size, By Value (USD Billion), 2019–2030

Figure 12     United States Customer Experience Management (CXM) Market Share, By Offerings, By Value, 2019–2030

Figure 13     United States Customer Experience Management (CXM) Market Share, By Category, By Value, 2019–2030

Figure 14     United States Customer Experience Management (CXM) Market Share, By Deployment Mode, By Value, 2019–2030

Figure 15     United States Customer Experience Management (CXM) Market Share, By Enterprise Size, By Value, 2019–2030

Figure 16     United States Customer Experience Management (CXM) Market Share, By End User, By Value, 2019–2030

Figure 17     Canada Customer Experience Management (CXM) Market Size, By Value (USD Billion), 2019–2030

Figure 18     Canada Customer Experience Management (CXM) Market Share, By Offerings, By Value, 2019–2030

Figure 19     Canada Customer Experience Management (CXM) Market Share, By Category, By Value, 2019–2030

Figure 20     Canada Customer Experience Management (CXM) Market Share, By Deployment Mode, By Value, 2019–2030

Figure 21     Canada Customer Experience Management (CXM) Market Share, By Enterprise Size, By Value, 2019–2030

Figure 22     Canada Customer Experience Management (CXM) Market Share, By End User, By Value, 2019–2030

 

 

List of Tables

 

Table 1        North America Customer Experience Management (CXM) Market Size, By Value (USD Billion), 2019–2030

Table 2        North America Customer Experience Management (CXM) Market Size, By Offerings, By Value, 2019–2030

Table 3        North America Customer Experience Management (CXM) Market Size, By Category, By Value, 2019–2030

Table 4        North America Customer Experience Management (CXM) Market Size, By Deployment Mode, By Value, 2019–2030

Table 5        North America Customer Experience Management (CXM) Market Size, By Enterprise Size, By Value, 2019–2030

Table 6        North America Customer Experience Management (CXM) Market Size, By End User, By Value, 2019–2030

Table 7        North America Customer Experience Management (CXM) Market Size, By Country, By Value, 2019–2030

Table 8        United States Customer Experience Management (CXM) Market Size, By Value (USD Billion), 2019–2030

Table 9        United States Customer Experience Management (CXM) Market Size, By Offerings, By Value, 2019–2030

Table 10      United States Customer Experience Management (CXM) Market Size, By Category, By Value, 2019–2030

Table 11      United States Customer Experience Management (CXM) Market Size, By Deployment Mode, By Value, 2019–2030

Table 12      United States Customer Experience Management (CXM) Market Size, By Enterprise Size, By Value, 2019–2030

Table 13      United States Customer Experience Management (CXM) Market Size, By End User, By Value, 2019–2030

Table 14      Canada Customer Experience Management (CXM) Market Size, By Value (USD Billion), 2019–2030

Table 15      Canada Customer Experience Management (CXM) Market Size, By Offerings, By Value, 2019–2030

Table 16      Canada Customer Experience Management (CXM) Market Size, By Category, By Value, 2019–2030

Table 17      Canada Customer Experience Management (CXM) Market Size, By Deployment Mode, By Value, 2019–2030

Table 18      Canada Customer Experience Management (CXM) Market Size, By Enterprise Size, By Value, 2019–2030

Table 19      Canada Customer Experience Management (CXM) Market Size, By End User, By Value, 2019–2030

Table 20      Adobe Inc. Company Overview

Table 21      Adobe Inc. Financial Overview

Table 22      Avaya Inc. Company Overview

Table 23      Avaya Inc. Financial Overview

Table 24      Clarabridge Company Overview

Table 25      Clarabridge Financial Overview

Table 26      Freshworks Inc. Company Overview

Table 27      Freshworks Inc. Financial Overview

Table 28      Genesys Company Overview

Table 29      Genesys Financial Overview

Table 30      International Business Machines Corp. Company Overview

Table 31      International Business Machines Corp. Financial Overview

Table 32      Medallia Inc. Company Overview

Table 33      Medallia Inc. Financial Overview

Table 34      Open Text Corp. Company Overview

Table 35      Open Text Corp. Financial Overview

Table 36      Oracle Corporation Company Overview

Table 37      Oracle Corporation Financial Overview

Table 38      SAP SE Company Overview

Table 39      SAP SE Financial Overview

Market Segmentation

No data available
No data available

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Frequently Asked Questions (FAQs):

Ans: North America Customer Experience Management (CXM) Market size by value was estimated at USD 5.28 billion in 2023.
Ans: North America Customer Experience Management (CXM) Market by value is expected to grow at a CAGR of 15.20% during the forecast period between 2024 and 2030.
Ans: North America Customer Experience Management (CXM) Market size is forecast to reach a value of USD 10.70 billion by 2030.
Ans: Growth of North America Customer Experience Management (CXM) Market is primarily driven by the increasing adoption of digitalization, technological advancements in cloud and AI solutions, and the need to analyze customer data for business insights.
Ans: Key players in North America Customer Experience Management (CXM) Market include Adobe Inc., Avaya Inc., Clarabridge, Freshworks Inc., Genesys, International Business Machines Corp., Medallia Inc., Open Text Corp., Oracle Corporation, and SAP SE.
Ans: The retail segment accounts for the largest market share of North America Customer Experience Management (CXM) Market by end user.
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