Customer Engagement Solutions Market Is Set for a Rapid Growth and Is Expected to Reach USD 29.49 Billion by 2024

Sarasota, FL -- (SBWire) -- 11/27/2018 --Global customer engagement solutionsmarketaccounted for USD12.85 billion in 2017 and is expected to reach USD 29.49 billion by 2024, growing at a CAGR of around 12.6% between 2018 and 2024.

Customer engagement solutions aredefined as softwarethat manages customer interactions and communications through various solutions, such as analytics and reporting, omnichannels, etc. Customer engagement solutions are introduced owing to the penetration of the internetand increasing adoption of the smart devices,such as smartphones, laptops, tablets, etc. Business organizations around the globe focus on increasing the user experienceas a part of theirexpansion strategyand to retaintheir customer base.

DOWNLOAD FREE PDF BROCHURE @ https://bit.ly/2Kw2VgT

Increasingpenetration of smart and advanced consumer electronic devices and internet is the major factor driving the customer engagement solutions market. In addition, continuous introduction of advanced technologies and solutions,such asthe internet of things (IoT), is estimated to increase the adoption of customer engagement solutions, due to the assistance provided by IoT in customer engagement solutions. Hence, the integration of IoT with customer engagement solutions is estimated to be a primary factor likely to drive the global customer engagement solutions market. However, the complex issues associated with the implementation of customer engagement software, lack of resources, and data breaches are the major factors that are hindering the growth of this market. Increasing investments made in artificial intelligence is estimated to open alluringgrowth opportunities for the market in the upcoming years.

Omnichannel, robotic process optimization, analytics and reporting, and workforce optimizationform the solutionsegment of the customer engagement solutions market. Analytics and reporting solutions segment is expected to register the highest growth rate in the forecast timeframe, due to the increase in the use of IoT in business, which, in turn,increases the use of analytical capabilities.

By organization size, the customer engagement solutions market is segmented into small and medium enterprisessolutions and large enterprises. The small and medium enterprises segment is estimated to register a higher growth rate during the projected years, due to the implementation of cloud-based customer engagement solutions thatresults in business outcomes and increased revenue.

Among the verticals analyzed in this report, the BFSI segment is estimated to lead the market from 2018 to 2024. This growth is due to the rise in the adoption of customer engagement solutions in BFSI applications, as it helps BFSI organizations to automate customer communication processes through chatbots, which, in turn, reduces service delivery period.

North America dominated the customer engagement solutions market in 2017. The growth of this regional market is driven by the presence of the key players,such asMicrosoft, IBM, Oracle, Nuance Communications, Verint Systems, and Salesforce in the region. Europe is anticipated to experience significant growth over the projected years, owing to the adoption of customer engagement solutions in several applications, such as consumer goods and retail and automotive sectors. Asia Pacific is anticipated to be the fastest growing market from 2018 to 2024, due to the increasing adoption of cloud computing by various organizations in this region.

Some key players in the customer engagement solutions marketare Avaya, Aspect Software, Pitney Bowes, Nuance Communications, Calabrio, Oracle, Pegasystems, Genesys, IBM, Microsoft, Nice Systems, OpenText, Salesforce, SAP, ServiceNow, Verint Systems, and Zendesk,among others.

Get FREE Sample Research Report @ https://bit.ly/2Bwa4uw

This report segmentstheglobal customer engagement solutionsmarket as follows:

Global Customer Engagement SolutionsMarket: Solution Segment Analysis

Omnichannel
Workforce Optimization
Robotic Process Optimization
Analytics & Reporting

Global Customer Engagement Solutions Market: Services SegmentAnalysis Services

Professional Services
Implementation & Integration Services
Support & Maintenance Services
Consulting Services
Managed Services

Global Customer Engagement SolutionsMarket: Deployment Type Segment Analysis

Cloud
On-premise

Global Customer Engagement SolutionsMarket: Organization Size Segment Analysis

Large Enterprises
Small & Medium-Sized Enterprises

Global Customer Engagement SolutionsMarket: Vertical Segment Analysis

BFSI
Consumer Goods & Retail
Telecommunication
Healthcare & Life Sciences
Automotive & Transportation
Media & Entertainment
Travel & Hospitality
Manufacturing
Others

Global Customer Engagement Solutions Market: Regional Segment Analysis

North America
U.S.
Europe
UK
France
Germany
Asia Pacific
China
Japan
India
Latin America
Brazil
Middle East and Africa

About Zion Market Research
Zion Market Research is an obligated company. We create futuristic, cutting-edge, informative reports ranging from industry reports, the company reports to country reports. We provide our clients not only with market statistics unveiled by avowed private publishers and public organizations but also with vogue and newest industry reports along with pre-eminent and niche company profiles. Our database of market research reports comprises a wide variety of reports from cardinal industries. Our database is been updated constantly in order to fulfill our clients with prompt and direct online access to our database. Keeping in mind the client's needs, we have included expert insights on global industries, products, and market trends in this database. Last but not the least, we make it our duty to ensure the success of clients connected to us—after all—if you do well, a little of the light shines on us.