The Customer Success Management Market is estimated to be valued at USD 2.01 billion in 2024 and is expected to reach USD 7.91 billion by 2031, exhibiting a compound annual growth rate (CAGR) of 21.61% from 2024 to 2031.

Introduction:

Customer success management (CSM) is an emerging business practice focusing on maximizing product value for customers by ensuring their success with the purchased product or service. With rising customer expectations and adoption of subscriptions model over one-time purchases, CSM has become crucial for companies to deliver continuous value and retain existing customers in highly competitive markets. CSM encompasses strategic processes and organizational culture changes that empower customer-facing teams to proactively address customer needs across pre- and post-purchase phases. By actively monitoring product usage and seeking feedback, CSM helps align business goals with customer success to enhance loyalty and advocacy over the long-term.

Market Dynamics:

The customer success management market growth is driven by the need for organizations to shift from a product-centric to customer-centric approach to build sustainable customer relationships. Rising demand for measurable business outcomes along with evolving consumption models has necessitated the need for proactive engagement with customers. However, high implementation costs and difficulty in changing existing enterprise processes act as restraints for the market. The growing adoption of software-as-a-service delivery models and technologies like big data analytics presents significant opportunities for CSM vendors to optimize product usage and gain valuable customer insights. Real-time monitoring of usage patterns can help address issues proactively and ensure continuous value delivery.

Key features of the study:

- This report provides in-depth analysis of the global customer success management market, and provides market size (US$ Billion) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year

- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market

- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players

- It profiles key players in the global customer success management market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies

- Key companies covered as a part of this study include Armatic Technologies Inc., Avaya Holdings Corp., ClientSuccess Inc., CustomerSuccessBox, Freshworks Inc., Gainsight Inc., IBM Corporation, Medallia Inc., Open Text Corporation, Oracle Corporation, Planhat AB, Salesforce.com Inc., SAP SE, Sitecore, Tech Mahindra Limited, Totango, UserIQ Inc., and Verint Systems Inc. are the major players

- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics

- The global customer success management market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts

- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global customer success management market

Detailed Segmentation-

• By Component
• • Software
  • Services
    • Professional Services
      • Consulting
      • System Integration and Implementation
      • Support and Maintenance
  • Managed Services
• By Industry Vertical
• • Healthcare
  • Retail
  • BFSI
  • IT and Telecommunications
  • Government
  • Other
•  By Application
• • Sales and Marketing Management
  • Customer Experience Management
  • Risk and Compliance Management
  • Other Applications
• By Region
• • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East & Africa
• Key Players Insights
  • Armatic Technologies Inc.
  • Avaya Holdings Corp.
  • ClientSuccess Inc.
  • CustomerSuccessBox
  • Freshworks Inc.
  • Gainsight Inc.
  • IBM Corporation
  • Medallia Inc.
  • Open Text Corporation
  • Oracle Corporation
  • Planhat AB
  • Salesforce.com Inc.
  • SAP SE
  • Sitecore
  • Tech Mahindra Limited
  • Totango
  • UserIQ Inc.
  • Verint Systems Inc.