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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Customer Success Platform Market Share
Customer experience management segment is expected to hold a significant market share due to the growing focus on customer retention and loyalty across industries
The customer experience management segment accounts for the largest customer success platform market share, as it helps businesses to retain and satisfy their customers by providing personalised and proactive services. Some of the key factors driving the growth of this segment are the increasing adoption of digital technologies, the rising demand for omnichannel customer engagement, and the growing focus on customer retention and loyalty.
Sales and marketing management helps businesses to align their sales and marketing goals, strategies, and activities, and to increase their sales productivity and performance. According to customer success platform market analysis, segment’s growth is driven by the rising need for improving sales efficiency and effectiveness, the growing adoption of cloud-based solutions, and the increasing integration of artificial intelligence and machine learning technologies.
The risk and compliance management segment in customer success platform market helps businesses to identify, assess, monitor, and mitigate the potential threats and vulnerabilities that may affect their customer relationships, reputation, and profitability. Some of the key factors driving the growth of this segment are the increasing complexity and diversity of risks, the rising regulatory scrutiny and fines, and the growing need for data protection and governance.
SMEs are expected to increase their demand for CSPs as it helps identify risks and opportunities and automate workflows
Small and medium-sized enterprises (SMEs) are expected to witness a significant growth in the customer success platform market share, owing to the increasing adoption of cloud-based solutions and the need to enhance customer retention and loyalty. SMEs often face challenges such as limited budget, lack of skilled staff, and high competition, which can be addressed by using customer success platforms that offer cost-effective, scalable, and easy-to-use features. Customer success platforms can help SMEs to monitor customer health, identify risks and opportunities, automate workflows, and provide personalised support and guidance.
Large enterprises are also expected to increase their demand for customer success platforms, as they have a large customer base and complex business operations that require effective management and optimisation. Customer success platforms can help large enterprises to align their customer success strategies with their business goals, streamline cross-functional collaboration, leverage data and analytics, and deliver consistent and proactive customer experiences.
Customer Success Platform Market Report Snapshots
Customer Success Platform Market Size
Customer Success Platform Market Trends
Customer Success Platform Market Share
Customer Success Platform Companies
Customer Success Platform Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the customer success platform market reached an approximate value of USD 1704.37 million.
The market is expected to grow at a CAGR of 26.1% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 13,740.39 million by 2032.
Customer success platform (CSP) is a software solution that helps businesses manage their customer relationships, retention, and loyalty. CSPs enable companies to identify risks and opportunities, deliver customer support and guidance, and measure the impact of customer success initiatives.
The major drivers of the market include the rise in data volume, increase in digitalisation, rising acceptance of advanced technologies such as Artificial Intelligence (AI) and Machine Learning (ML), innovation in start-ups based on customer success platforms, and higher adoption of customer satisfaction solutions across various industry verticals.
Key trends aiding customer success platform market expansion include the introduction of cloud computing for customer satisfaction, and the need for innovative solutions to track customer scores and lower turnover.
The major regions in the market are North America, Latin America, Middle East and Africa, Europe, and Asia Pacific.
The significant application of the global customer success platform market are customer experience management, sales and marketing management, risk and compliance management, and customer service.
Based on deployment model, the market can be divided into on-premises and cloud.
The market can be divided based on organisation size into small and medium-sized enterprises and large enterprises.
The significant industry verticals are banking, financial services, and insurance, retail and e-commerce, telecommunications and IT, healthcare and life sciences, and government and public sector, among others.
Key players in the market are Gainsight, Inc., Salesforce.com, Inc., SmartKarrot Inc., Totango, Inc., ClientSuccess, Inc., Strikedeck, Inc., ChurnZero, Inc, and Freshworks Inc., among others.
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