Customer Engagement Solution Market Report: Trends, Forecast and Competitive Analysis to 2030

Customer Engagement Solution Trends and Forecast

The future of the global customer engagement solution market looks promising with opportunities in the cloud and on-premise markets. The global customer engagement solution market is expected to reach an estimated $40.4 billion by 2030 with a CAGR of 10.5% from 2024 to 2030. The major drivers for this market are surge in customer engagement solution adoption for reduction of customer churn rates and growing prevalence of ecommerce and mcommerce platforms.

A more than 150-page report is developed to help in your business decisions.

Customer Engagement Solution by Segment

The study includes a forecast for the global customer engagement solution by component, organization size, deployment mode, end use, and region.

Customer Engagement Solution Market by Component [Shipment Analysis by Value from 2018 to 2030]:

• Solutions
• Services

Customer Engagement Solution Market by Organization Size [Shipment Analysis by Value from 2018 to 2030]:

• Small and Medium Sized Enterprises
• Large Enterprises

Customer Engagement Solution Market by Deployment Mode [Shipment Analysis by Value from 2018 to 2030]:

• Cloud
• On-Premises

Customer Engagement Solution Market by End Use [Shipment Analysis by Value from 2018 to 2030]:

• Banking, Finance Services, and Insurance (BFSI)
• Healthcare and Life Sciences
• Telecom and IT
• Automotive
• Transportation and Logistics
• Retail and Consumer Goods
• Media and Entertainment
• Travel and Hospitality
• Other

Customer Engagement Solution Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Customer Engagement Solution Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies customer engagement solution companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the customer engagement solution companies profiled in this report include-

• Avaya
• IBM
• Microsoft
• NICE Systems
• Oracle
• Salesforce
• SAP

Customer Engagement Solution Market Insights

Lucintel forecasts that solution is expected to witness the higher growth over the forecast period as it aims at delivering customers with tailored connected encounters across an extensive array of physical, mobile, and web-based platforms.

Within this market, cloud is expected to witness the higher growth as it offers prospective expansion, adaptability, and enhanced mobility.

North America will remain the largest region over the forecast period due to growing adoption of artificial intelligence and internet of things across variou end use industries and existence of prominent industry leaders in the region.

Features of the Global Customer Engagement Solution Market

Market Size Estimates: Customer engagement solution market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Customer engagement solution market size by various segments, such as by component, organization size, deployment mode, end use, and region in terms of value ($B).

Regional Analysis: Customer engagement solution market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different components, organization sizes, deployment modes, end uses, and regions for the customer engagement solution market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the customer engagement solution market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the customer engagement solution market size?

Answer: The global customer engagement solution market is expected to reach an estimated $40.4 billion by 2030.

Q2. What is the growth forecast for customer engagement solution market?

Answer: The global customer engagement solution market is expected to grow with a CAGR of 10.5% from 2024 to 2030.

Q3. What are the major drivers influencing the growth of the customer engagement solution market?

Answer: The major drivers for this market are surge in customer engagement solution adoption for reduction of customer churn rates and growing prevalence of ecommerce and mcommerce platforms.

Q4. What are the major segments for customer engagement solution market?

Answer: The future of the customer engagement solution market looks promising with opportunities in the cloud and on-premise markets.

Q5. Who are the key customer engagement solution market companies?

Answer: Some of the key customer engagement solution companies are as follows:

• Avaya
• IBM
• Microsoft
• NICE Systems
• Oracle
• Salesforce
• SAP

Q6. Which customer engagement solution market segment will be the largest in future?

Answer: Lucintel forecasts that solution is expected to witness the higher growth over the forecast period as it aims at delivering customers with tailored connected encounters across an extensive array of physical, mobile, and web-based platforms.

Q7. In customer engagement solution market, which region is expected to be the largest in next 5 years?

Answer: North America will remain the largest region over the forecast period due to growing adoption of artificial intelligence and internet of things across variou end use industries and existence of prominent industry leaders in the region.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the customer engagement solution market by component (solutions and services), organization size (small and medium sized enterprises and large enterprises), deployment mode (cloud and on-premises), end use (banking, finance services, and insurance (BFSI), healthcare and life sciences, telecom and IT, automotive, transportation and logistics, retail and consumer goods, media and entertainment, travel and hospitality, and other), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?