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Customer Experience Management Market Poised for Remarkable Growth, projected to Hit US$ 32.1 billion by 2032 | Persistence Market Research

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New York, July 17, 2023 (GLOBE NEWSWIRE) — The market for customer experience management is anticipated to be valued US$ 10.7 billion in 2022 and US$ 32.1 billion by 2032. Previously, the market increased at a quicker CAGR of 12.2% (2015-2021), reaching $9.5 billion in 2021.

Customer Experience Management (CEM) is a strategic approach that focuses on delivering a positive and engaging experience to customers at every touchpoint throughout their journey with a company. It encompasses various processes, technologies, and strategies that aim to understand, measure, and enhance customer satisfaction, loyalty, and advocacy. The Customer Experience Management market has been witnessing significant growth in recent years, driven by the increasing importance placed on customer-centricity and the rising demand for personalized and seamless experiences across industries.

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Market Overview

The Customer Experience Management market refers to the collection of software, services, and solutions designed to manage, analyze, and improve customer interactions and experiences across various channels and touchpoints. It includes customer feedback management, journey mapping, data analytics, voice of the customer (VoC) programs, customer segmentation, and personalization tools.

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Market Segmentation

The Customer Experience Management market can be segmented based on the following factors:

  • By Component: Solutions (Software, Services) and Services (Professional Services, Managed Services)
  • By Touchpoint: Web, Mobile, Social Media, Email, Call Center, In-store, and Others
  • By Deployment Mode: On-premises and Cloud-based
  • By Organization Size: Small and Medium-sized Enterprises (SMEs) and Large Enterprises
  • By Industry Vertical: Retail, BFSI, Healthcare, IT and Telecom, Travel and Hospitality, Automotive, and Others

Market Dynamics

Market Drivers

Increasing customer expectations: Customers today expect personalized, seamless, and consistent experiences across all touchpoints, driving the demand for advanced CEM solutions.

Growing adoption of digital channels: The proliferation of digital channels such as mobile and social media has created new opportunities and challenges for businesses to engage with customers effectively.

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Focus on customer-centricity: Organizations across industries are recognizing the importance of customer-centricity as a key differentiator and competitive advantage.

Need for customer data insights: Businesses are leveraging CEM solutions to gather and analyze customer data to gain actionable insights for better decision-making and targeted marketing campaigns.

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Market Restraints

Data privacy and security concerns: The collection and storage of customer data raise concerns about data privacy and security, which can hinder the adoption of CEM solutions.

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Complex integration and implementation: Implementing CEM solutions often involves integrating multiple systems and platforms, which can be challenging and time-consuming.

Lack of skilled professionals: There is a shortage of skilled professionals with expertise in CEM technologies and strategies, limiting the adoption and effective utilization of CEM solutions.

Regional Analysis

The Customer Experience Management market can be analyzed across key regions, including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to dominate the market due to the presence of major CEM solution providers and early adoption of advanced technologies.

Competitive Landscape

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The Customer Experience Management market is highly competitive and fragmented, with numerous vendors offering a wide range of CEM solutions. Key players in the market include IBM, SAP, ORACLE, AVAYA, OPENTEXT, ADOBE, VERINT SYSTEMS, TERADATA, TECH MAHINDRA, NOKIA. These companies are focusing on strategic partnerships, acquisitions, and product innovations to gain a competitive edge in the market.

Recent Developments

  • Adobe announced in June 2023 that it has made significant enhancements to its Adobe Experience Cloud, including the availability of Adobe Product Analytics for enterprise customers. The company also announced new features for Adobe Experience Manager, Adobe Mix Modeler, Adobe Journey Optimizer, and Adobe Real-Time Customer Data Platform.
  • Avaya announced in June 2023 that it has rebranded its professional services division as Avaya Customer Experience Services (ACES). The new division will focus on helping customers improve their customer experience across all channels.
  • Q-nomy launched Cubu in March 2023. Cubu is a customer journey management solution that combines customer flow management, appointment scheduling, and customer interaction management in one integrated solution.
  • ResultsCX expanded its geographic presence in the U.K. and Europe in October 2022. The company acquired a Bulgarian CXM provider to establish its European headquarters in London.
  • SAP acquired Emarsys in November 2020 to integrate the company’s customer experience solutions into its own portfolio.

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 Future Outlook

The Customer Experience Management market is expected to witness substantial growth in the coming years, driven by the increasing focus on customer-centricity and the rising demand for personalized experiences. Advancements in technologies such as artificial intelligence (AI), machine learning (ML), and predictive analytics will further enhance the capabilities of CEM solutions, enabling organizations to deliver exceptional customer experiences. However, challenges such as data privacy concerns and the shortage of skilled professionals need to be addressed to ensure the successful adoption and implementation of CEM strategies.

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About Persistence Market Research:

Business intelligence is the foundation of every business model employed by Persistence Market Research. Multi-dimensional sources are being put to work, which include big data, customer experience analytics, and real-time data collection. Thus, working on “micros” by Persistence Market Research helps companies overcome their “macro” business challenges.

Persistence Market Research is always way ahead of its time. In other words, it tables market solutions by stepping into the companies’/clients’ shoes much before they themselves have a sneak pick into the market. The pro-active approach followed by experts at Persistence Market Research helps companies/clients lay their hands on techno-commercial insights beforehand, so that the subsequent course of action could be simplified on their part.

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Persistence Market Research 
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Email: [email protected]

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Artificial Intelligence

Creator-first AI x Blockchain Project Animechain.ai Reveals Its White Paper and Participation in IVS Crypto 2024 KYOTO as a Platinum Sponsor

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Striving for utilization of AI and blockchain as “A Magic Wand For Creators”
TOKYO, July 4, 2024 /PRNewswire/ — Animechain.ai is an AI x Blockchain project that fully values creators’ rights and creativity. We have published a white paper describing our core vision in detail. By combining cutting-edge AI and blockchain technology, we strive to improve the efficiency and quality of anime production while protecting creators’ rights and securing fair compensation. 

We will also be participating in IVS Crypto 2024 KYOTO, one of Japan’s largest startup conferences held in Kyoto for three days from July 4th to the 6th, as a platinum sponsor. Animechain.ai’s vision and initiatives, including the content of our white paper, will be presented at the Keynote Session of the main stage of IVS Crypto 2024 KYOTO on Saturday, July 6th, from 11:45 AM.
White Paper Outline:
1. A Creator-first Rights Management System:
○   Strictly managing creators’ rights by implementing the AIRA (AI Rights Asset) token.
○   An automated and highly transparent reward distribution system controlled by smart contracts.
○   Creating new revenue opportunities by promoting derivative work and spinoffs.
2. High-quality Generative AI Specialized in Anime:
○   High-quality anime image generators with resolution of the highest standards in the industry.
○   Innovative time series models that enable animation generation on a real-time basis.
○   Overall production support by multimodal generation combining text, audio, and images.
3. Proprietary Layer 2 Solution “Anime Network”:
○   Transaction processing at over 100 times the conventional speed.
○   Ensuring data security and privacy with cryptography.
○   Unique functions that are optimized for the workflow of anime production.
4. Comprehensive Ecosystem and Governance:
○   A diverse community of creators, anime studios, AI developers, fans, and rights holders.
○   Democratic decision-making by token holders.
○   An incentive system that promotes continuous technological innovation and expansion of the market.
Whitepaper: https://whitepaper.animechain.ai/IVS Crypto 2024 KYOTO: https://www.ivs.events/crypto
Animechain.ai will combine creators’ dreams and AI technology to break new ground in the anime industry. Please visit our official website (https://animechain.ai/) for further information.
Company InformationCompany name: Animechain LLCHeadquarter: TokyoEstablished: February 2024CEO: Shuhei MiseBusiness: Development of “Animechain.ai”, a project to support creators’ creative activities using AI and blockchain
About Animechain.aiOfficial Website: https://animechain.ai/FAQ: https://medium.com/@anime_chain/anime-chain-faq-english-version-7bb1b4ae83bb
Photo – https://mma.prnewswire.com/media/2454419/Animechain.jpg

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Artificial Intelligence

Console Connect Recognized with Frost & Sullivan’s 2024 Global Technology Innovation Leadership Award for Its Outstanding Automation and Blockchain Solutions

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SAN ANTONIO, July 4, 2024 /PRNewswire/ — Frost & Sullivan recently analyzed the NaaS industry and, based on its findings, recognizes Console Connect with the Global Technology Innovation Leadership Award. Console Connect is a pioneering provider of NaaS solutions, offering advanced automation and intelligent use of blockchain technology that significantly enhances the platform.

Console Connect provides a comprehensive and efficient platform that meets the ever-evolving needs of enterprises and cloud providers. The company’s sophisticated platform enables seamless integration with major cloud providers, including Amazon Web Services (AWS), Google Cloud, Microsoft Azure, Oracle Cloud, and IBM Cloud.
Additionally, the platform provides network services and innovative solutions, such as the Edge SIM service, which provides secure and reliable transport for Internet of Things (IoT) applications without using the public internet. This forward-thinking approach has allowed Console Connect to expand its service offerings and maintain its solid leadership position in the industry.
“Console Connect’s innovative platform delivers unparalleled automation, security, and efficiency in the Network-as-a-Service (NaaS) industry, setting a new standard with its cutting-edge use of blockchain technology and seamless multi-cloud integration,” said Stephen Thomas, Senior Industry Director at Frost & Sullivan.
Console Connect leverages a top-tier IP network to enhance its already powerful NaaS platform. This strategic fusion has enabled Console Connect to rapidly advance its network automation capabilities, delivering enhanced service efficiency and operational excellence.
Furthermore, Console Connect’s technological innovation extends beyond network automation to include blockchain technology for inventory and invoicing. The platform’s integration of blockchain establishes a standardized service inventory verified by a distributed ledger, ensuring accurate and undisputed invoicing through smart contracts. This innovative approach significantly reduces disputes and enhances operational efficiency, providing a robust and reliable solution for network management.
As a result, Console Connect is driving technological advancement worldwide with its futuristic network automation, the clever use of blockchain enabled contracts and is rapidly positioning itself as a leader in the NaaS industry.
“We are delighted to receive this award from Frost & Sullivan that identifies Console Connect as a technology leader in Network-as-a-Service. As an early adopter of network automation, Console Connect is proud to be recognised as an innovator in this field, and we continue to embrace technology to reimagine how businesses provision, manage and experience connectivity,” said Neil Templeton, SVP, Marketing, Console Connect. 
Each year, Frost & Sullivan presents this award to the company that has developed a product with innovative features and functionality that is gaining rapid acceptance in the market. The award recognizes the quality of the solution and the customer value enhancements it enables.
Frost & Sullivan Best Practices awards recognize companies in various regional and global markets for demonstrating outstanding achievement and superior performance in leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analyses, and extensive secondary research to identify best practices in the industry.
About Frost & Sullivan
For six decades, Frost & Sullivan has been world-renowned for its role in helping investors, corporate leaders, and governments navigate economic changes and identify disruptive technologies, Mega Trends, new business models, and companies to action, resulting in a continuous flow of growth opportunities to drive future success. Contact us: Start the discussion.
Contact:Ashley ShreveP: 210.844.2505E: [email protected]
About Console Connect
Console Connect is a platform for Software Defined Interconnection® of applications and infrastructures. It allows users to self-provision private, high-performance connections among a global ecosystem of enterprises, networks, clouds, SaaS providers, IoT providers and applications providers.
Console Connect is the only digital platform that is underpinned by one of the world’s largest private networks and a Tier 1 global IP network that is ranked in the top 10 for IPv4 and IPv6 peering, delivering higher levels of network performance, speed, and security to meet the digital needs of today’s interconnected users and communities.
Accessible from 1000+ data centres in 50+ countries worldwide, the platform is integrated with all major hyperscale cloud providers, including AWS, Google Cloud, IBM Cloud, Microsoft Azure, Alibaba Cloud and more. Through the Console Connect portal or via its API, users can access a broad range of native and third-party solutions.
To learn more about Console Connect, please visit www.consoleconnect.com.
Logo – https://mma.prnewswire.com/media/2453773/Frost_Sullivan_Console_Connect_Award.jpg 

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Hyperlink InfoSystem Emerges as India’s #1 Salesforce Development Company in 2024

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NEW YORK and LOS ANGELES, July 4, 2024 /PRNewswire/ — The world of digital advancements is experiencing a phenomenal level of explosive growth, and Salesforce, a leading customer relationship management (CRM) platform, has witnessed staggering popularity and an exponential level of advancement in India. India’s robust infrastructure, coupled with its incredibly skilled developers, has made it an attractive hub for all things Salesforce. The Indian IT sector has an established history of providing world-class solutions, which renders it a reliable partner for Salesforce development initiatives. Since the Salesforce development market in India is growing, global enterprises are increasingly hunting for specialized solutions to enhance their CRM capabilities. Custom Salesforce solutions have curated a sudden spike in demand that could help firms stand out. 

This sudden need, plus the urgency of competent pricing, has led international investors to lean towards Indian workforces. Indian developers are known for their mastery of customizing Salesforce solutions to meet distinct business needs, streamline operations, and ensure seamless CRM integrations. The talented pool of Salesforce developers at competitive pricing makes for an appealing option for businesses looking to optimize their CRM investments. Indian developers are known for their creative approach, favorable time zones for extended working hours, understanding of global practices, and constant thinking outside the box to render the best-in-class modern solutions to overcome complex Salesforce-driven business challenges. That’s where Hyperlink InfoSystem struck the chord and cemented its position as India’s leading Salesforce development company.
Hyperlink InfoSystem has emerged as a frontrunner in Salesforce development solutions and has become the ultimate powerhouse for custom CRM solutions. Their dedication to excellence has helped them maintain a steady track record spanning over a decade, with several successful Salesforce project deliveries. Hyperlink InfoSystem utilizes best-in-class technologies such as AI, Big Data, and IoT to craft bespoke Salesforce solutions to meet every business’s unique needs. They place a strong emphasis on client requirements to deliver custom solutions for driving measurable results. From consultation and integration to support and customization, Hyperlink InfoSystem offers end-to-end Salesforce development services, ensuring a seamless transition to the CRM. With a commitment to Agile methodologies and certified Salesforce developers, they follow only the best practices in the industry.
“We are extremely honored to be recognized as India’s leading Salesforce development company,” said Mr. Harnil Oza, CEO of Hyperlink InfoSystem. This achievement showcases our team’s commitment and dedication to delivering immaculate solutions that promote the company’s success. He added, “We at Hyperlink InfoSystem think that Salesforce can change how businesses run and engage with their customers and staff. And we will keep pushing the envelope of innovation to provide each client with immaculate Salesforce solutions.”
Looking forward, Hyperlink InfoSystem is committed to staying one step ahead of all Salesforce innovations. Their whole focus is on helping companies realize the full potential of Salesforce, which can result in remarkable customer experiences and growth that is truly transformative. This will be achieved by consistently incorporating the newest features and functionality into their development processes. By providing scalable and adaptable Salesforce solutions, businesses can smoothly future-proof their operations.
About Hyperlink InfoSystem
Hyperlink InfoSystem is a prominent international enterprise excelling in IT solutions in many domains. Since its humble beginnings in 2011, its specialization in technologies has expanded across web development, mobile app development, enterprise software solutions, and now Artificial Intelligence (AI). With over 1200+ employees and a global presence in the USA, UK, UAE, France, India, and Canada, Hyperlink InfoSystem is dedicated to assisting corporations to leverage the complete power of technology to accomplish their goals.
Contact Details:Hyperlink InfoSystemHarnil [email protected]
New York Address:One World Trade Center285 Fulton Street suite 8500,New York, NY 10007,United States
Mumbai Address:Level 8, Vibgyor Towers C 62,G Block Bandra Kurla Complex,Mumbai, Maharashtra 400098
London Address:Level 30, The Leadenhall Building,122 Leadenhall Street,London EC3V 4AB
Canada Address:151 Yonge Street, 11th Floor,Toronto, Ontario, M5C 2W7,Canada
Logo: https://mma.prnewswire.com/media/2429933/Hyperlink_InfoSystem_Logo.jpg
 

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