Global Customer Success Platform Market to Grow at a CAGR of 26.1% During 2024-2032, Aided by Rising Need for Businesses to Retain their Customers

Businesses deploy customer success platforms (CSPs) to monitor, manage, and optimise their customer journeys. The platform is made up of different features, including product usage analytics, onboarding tools, customer feedback and surveys, and support management. As businesses increasingly focus on retaining their customers and enhancing customer engagement, they are demanding CSPs, which, in turn, supports the customer success platform market growth.

These solutions enable businesses to understand customers’ behaviours and needs, helping them create a personalised experience for them. This encourages loyalty and enhances customer retention. By providing visibility into product usage, CSP helps businesses determine opportunities for upselling and cross-selling, boosting revenue potential. The platform allows companies to automate various aspects of customer management, providing them with extra time and resources to conduct other business-related processes. A customer success platform is critical to increase revenue by reducing churn and driving expansion.

Prominent customer success platform providers include Gainsight, Inc., Salesforce.com, Inc. (NYSE: CRM), and ChurnZero. Key users of customer success platforms include Waystar, Dynatrace, SAP, SentinelOne, and Aircall. Customer success platforms are adopted by these companies to prevent churn, increase revenue growth, and boost team productivity.

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Market Breakup by Application, Component, Deployment Model, Organisation Size, Industry Vertical, and Region:

• The market is segmented based on application into customer experience management, sales and marketing management, risk and compliance management, and customer service.

• By component, the market is segmented into solution and services.

• By deployment model, the market is segmented into on-premises and cloud.

• By organisation size, the market is bifurcated into small and medium-sized enterprises and large enterprises.

• By industry vertical, the market is segmented into banking, financial services, and insurance, retail and ecommerce, telecommunications and IT, healthcare and life sciences, government and public sector, and others.

• Region-wise, the global market for customer success platform can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• Customer success platform (CSP) is a software that provides businesses with actionable insights to handle customer needs, enhance customer satisfaction, and reduce churn.

• Customer success platforms help automate routine tasks such as onboarding, communication, and support management, and enable customer success teams to focus on more strategic initiatives.

• The integration of advanced technologies, such as artificial intelligence (AI) into a customer success platform provides comprehensive summaries of any customer account's attributes, such as usage, engagement, and communications. Robust analytics tools provide valuable insights into customer behaviour, enabling data-driven decision-making.

• These platforms, encompassing diverse solutions and services, are being adopted by startups concerned with growing at a rapid rate by attracting customers as well as large companies inclined towards reducing their customer churn.

Key Offerings of the Report:

• The EMR report gives an overview of the global customer success platform market for the periods (2018-2023) and (2024-2032).

• The report also offers historical (2018-2023) and forecast (2024-2032) market information for the application, component, deployment model, organisation size, industry vertical, and major regions of customer success platform.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the customer success platform market are Gainsight, Inc., Salesforce.com, Inc., SmartKarrot Inc., Totango, Inc., ClientSuccess, Inc., Strikedeck, Inc., ChurnZero, Inc, and Freshworks Inc. among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

Key Highlights of the Report

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