The practice of establishing a positive customer experience at each touchpoint and maintaining brand loyalty is known as customer experience management (CXM). It is an essential component of any customer-first approach and works to boost income, foster customer loyalty, and drive customer pleasure.The need for better customer retention and engagement tactics, the rising need for personalized experiences, the growing emphasis on AI-based technological solutions, and the expanding use of big data and IoT technologies are just a few of the drivers driving the market.
The global Customer Experience Management Market size was valued at US$ 9.6 billion in 2022 and is anticipated to witness a compound annual growth rate (CAGR) of 13.46% from 2022 to 2030.
Prominent Companies in the Customer Experience Management Industry:
1.Tech Mahindra
Tech Mahindra founded in 1986 and its headquarters Pune India. The company operates in 90 countries. 2021 Tech Mahindra has announced that it has acquired a 100% stake in Activus Connect, a leading provider of work at home customer experience.
2. Adobe Inc
Adobe Inc founded in 1982, and its Headquarters located in San Jose, California, United States. The company operates in 24 nations. In 2021 Adobe Systems Incorporated (Nasdaq:ADBE) today announced its new Adobe Digital Enterprise Platform for Customer Experience Management (CEM).
3.Medallia Inc
Medallia Inc was launch in 2001 and it’s headquarter located San Mateo, California, United States.it operate over 150 country.
4. Oracle Corporation
Oracle Corporation was launch in 1977 and it’s headquarter, Austin, Texas, United States..it operate over 140 country. By 2021, Oracle CX had been combined with Oracle Data Cloud and became Oracle Advertising and Customer Experience (CX).
5. Clarabridge
Clarabridge was founded 2006 with its headquarters in Reston, Virginia. With businesses in over 60 countries. 2021 Qualtrics has agreed to acquire Clarabridge, the industry leader in omnichannel conversational analytics
6. Zendesk
Zendesk was launch in 2007 and it’s headquarter located San Francisco, California, United States.it operate over 160 country. Zendesk acquires Tymeshift, bringing AI-powered workforce management to customers.
7. Open Text Corporation
Open Text Corporation was launch in 1991 and it’s headquarter, Waterloo, Canada. It operate over 114 country. OpenText expects that the acquisition will complement its current software portfolio, particularly its Customer Experience Management and Cloud
*Definition- Customer experience management (CXM) is the process of delivering a great customer experience across every touchpoint and ensuring that customers remain loyal to the brand. It is a core part of any customer-first strategy and helps to drive customer satisfaction, reduce churn and increase revenue and loyalty..
