GITNUX MARKETDATA REPORT 2024
Customer Experience Software Industry Statistics
The Customer Experience Software Industry has shown steady growth, with an expected market size of over $14 billion by 2023, driven by increasing demand for personalized customer interactions and improved efficiency in customer service operations.
In this post, we will explore a comprehensive overview of the customer experience software industry, backed by a range of compelling statistics. From the rapid expansion of the global Customer Experience Management market to the significant impact of customer retention on profitability, these data points shed light on the current landscape and future trends within this dynamic sector.
Statistic 1
"The global Customer Experience Management (CEM) market size was valued at USD 8.5 billion in 2020."
Statistic 2
"The CEM market is expected to expand at a Compound Annual Growth Rate (CAGR) of 17.7% from 2021 to 2028."
Statistic 3
"North America accounted for 34.5% of the global CEM market in 2020."
Statistic 4
"Only 15% of organizations are able to quantify the impact of Customer Experience (CX) on their top-line revenue."
Statistic 5
"About 40% of all data analytics projects will relate to an aspect of Customer Experience by 2022."
Statistic 6
"By 2023, more than half of all companies will redirect their investments to customer experience innovations."
Statistic 7
"86% of buyers are willing to pay more for a great customer experience."
Statistic 8
"It's 6-7 times more costly for a company to attract a new customer than to retain an existing customer."
Statistic 9
"Just a 5% increase in customer retention can increase a company’s profitability by 75%."
Statistic 10
"72% of businesses say that improving the customer experience is their top priority."
Statistic 11
"Only 37% of companies responded to customer's tweet within 30 minutes."
Statistic 12
"The global CEM market is expected to surpass USD 35 Billion by 2026."
Statistic 13
"The global CEM market in 2019 was valued at approximately $7 Billion."
Statistic 14
"The retail industry accounted for a significant market share in the Customer Experience Management market size in 2019."
Statistic 15
"The retention analytics solution segment of the CEM market is projected display a CAGR of 18.1% from 2021 to 2028."
Statistic 16
"Companies that invest in customer experience improvement, convert 1.9 times more browsers into buyers."
Statistic 17
"Only 12% of customers rate brands' customer experience delivery as being "at an all-time high.""
Statistic 18
"On average, companies are expected to allocate 11% of their marketing budget towards improving customer experience in the next 12 months."
Jannik Lindner
Can You Trust Our Report?
The statistics are checked by us and then entered into the database. Our market data reports have been linked to by some of the largest publishers and companies on the Internet.
