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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Customer Success Platform Market Size
The global customer success platform market size was valued at USD 1704.37 million in 2023. The market is further projected to grow at a CAGR of 26.1% between 2024 and 2032, reaching a value of USD 13,740.39 million by 2032.
Key Takeaways
- CRM software can raise sales by up to 29% and enhance sales team efficiency by 34%.
- 65% of mobile CRM users can achieve their yearly sales target, compared to 22% of non-mobile CRM users.
- 59% of organisations report that CRM applications have helped them increase customer loyalty (by 47%), customer satisfaction rate (by 47%), and lower lead cost (by 27%).
A customer success platform (CSP) is a software solution that helps businesses manage and optimise their customer relationships, retention, and loyalty. It enables businesses to monitor customer behavior, identify risks and opportunities, provide proactive support, and deliver personalised value. A customer success platform typically integrates with other tools such as CRM, marketing automation, analytics, and communication channels.
The global customer success platform market is expected to grow due to increasing demand for cloud-based solutions that offer scalability, flexibility, and cost-effectiveness.
The rising adoption of customer success platforms by small and medium-sized enterprises (SMEs) that need to enhance their customer retention and loyalty is also augmenting customer success platform market growth. The growing need for data-driven insights and analytics that help businesses understand customer behavior, preferences, and feedback is further driving the demand for customer success platforms.
The expanding use of artificial intelligence (AI) and machine learning (ML) technologies enable customer success platforms to provide predictive and prescriptive recommendations, automation, and personalisation. Moreover, the rising awareness of the benefits of customer success platforms among various industries such as IT and telecom, retail and e-commerce, healthcare, education, and finance has enabled the market to grow.
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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