PUBLISHER: Grand View Research | PRODUCT CODE: 1474943
PUBLISHER: Grand View Research | PRODUCT CODE: 1474943
The global customer engagement solutions market size is anticipated to reach USD 50.03 billion by 2030. The market is anticipated to expand at a CAGR of 11.8% from 2024 to 2030, according to a new report by Grand View Research, Inc. The rise of omnichannel engagement is a significant growth driver for the customer engagement solutions industry. As businesses increasingly recognize the importance of meeting customers on their preferred platforms, the demand for comprehensive solutions that enable seamless interactions across various channels is surging.
Customer engagement solutions that facilitate omnichannel strategies address this need by providing the tools and infrastructure necessary to deliver consistent experiences across social media, mobile apps, websites, email, and chat platforms. This trend is driven by consumers' evolving preferences, who expect personalized and cohesive interactions regardless of the channel they choose. Therefore, businesses are investing in these solutions to enhance engagement, foster loyalty, and gain a competitive edge in the market by delivering superior customer experiences.
Artificial Intelligence (AI) and analytics are beginning to be used in customer engagement solutions. These technologies enable companies to gather vast amounts of customer data, derive actionable insights, and automate personalized interactions at scale. AI-powered chatbots, virtual assistants, predictive analytics, and sentiment analysis tools empower businesses to deliver relevant content, recommendations, and real-time support, driving improved engagement and conversion rates. For instance , Alibaba uses AI chatbots for 75% of its online and 40% of phone consultations, handling over 2 million daily sessions and 10 million daily conversations. It has raised customer satisfaction by 25% and saved the company millions by employing AI instead of human agents.