According to report published by MarketsandMarkets™, the global Customer Success Platforms Market size to grow from $1.0 billion in 2020 to $2.5 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 20.4% during the forecast period.
The major factors driving the growth of the customer success platforms market are the advent of cloud computing in customer success, growing demand for advance analytical-based solutions to monitor customer scores and reduce churn rates, and increasing data volume due to growing digitalization. Furthermore, the emergence of AI and ML to the better monitor customer journey and increasing investments by startups in identifying growth opportunities are expected to provide opportunities for enterprises operating across several verticals in the customer success platforms market.
Browse in-depth TOC on “Customer Success Platforms Market”
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=140271118
The services segment to record the higher growth rate during the forecast period
On the basis of components, the customer success platforms market is segmented into platforms and services. The services are segmented to grow at a higher rate during the forecast period. The services play a vital role in the functioning of customer success platforms as the vendors require technical support services and consulting services to manage the effective deployment of these platforms. The services ensure faster and smoother implementation that maximizes the value of enterprise investments. They are an integral step in deploying technology software and are taken care of by platforms and service providers. These services ensure the end-to-end deployment and maintenance of customer success platforms and address pre-and post-deployment queries as well. These services help companies plan and strategize operations through design, implementation, adoption, and training.
The reporting and analytics segment to record the highest CAGR during the forecast period
In the customer success platforms market by application, the reporting and analytics application segment is expected to record the highest CAGR during the forecast period. The customer success platforms market is segmented on the basis of applications such as sales and marketing optimization, risk and compliance management, customer segmentation, customer service, reporting and analytics, customer onboarding, and others (revenue management, customer engagement, workflow management, and project administration). Reporting and analytics tools are essential for visualization that help end-users to sort out essential customer details. Customer data, such as product usage levels, the time spent while interacting with the brand, heat map, and similar visuals can be identified as seen using such tools.
North America to hold the largest market size during the forecast period
North America is expected to hold the largest market size in the global customer success platforms market during the forecast period. The key factor favoring the growth of the customer success platforms market in North America is the increasing demand for the enhanced customer viewing experience to strengthen customer retention initiatives. Europe is expected to be in the second position in terms of market size and market share during the forecast period. The growing demand to reduce enterprise workloads related to internal and external communication monitoring is boosting the adoption of customer success platforms in Europe. APAC is expected to record the fastest growth rate during the forecast period. The customer success platforms market is expected to witness considerable developments and implementation across APAC during the forecast period. The increasing number of players across different regions is further expected to drive the customer success platforms market.
Speak to Analyst @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=140271118
Key and emerging market players include Salesforce (US), Cisco(US), HubSpot (US), Gainsight (US), Freshworks (US), Totango (US), Amity (Canada), Strikedeck (US), ChurnZero (US), SmartKarrot (US), ClientSuccess (US), Bolstra (US), UserIQ (US), Planhat (Sweden), Salesmachine (US), Catalyst (US), AppsForOps (Australia), Armatic (US), CustomerSuccessBox (US), Clientshare (UK), Wootric (US), ZoomInfo (US), Akita (Ireland), Intercom (US), WalkMe (US), and Custify (Romania).
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
Mr. Aashish Mehra
630 Dundee Road
Northbrook, IL 60062
Visit Our Website: https://www.marketsandmarkets.com
Research Insights: https://www.marketsandmarkets.com/ResearchInsight/customer-success-platforms-market.asp Content Source: https://www.marketsandmarkets.com/PressReleases/customer-success-platforms.asp