According to our latest market study on "Customer Experience Management Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Component, Deployment Mode, Organization Size, Touchpoint, and Industry Vertical," the customer experience management market size is projected to grow from US$ 11,555.18 million in 2022 to US$ 29,780.95 million by 2028; the customer experience management market share is expected to grow at a CAGR of 17.1% from 2022 to 2028

The COVID-19 pandemic significantly impacted countries such as Turkey, Iran, Iraq, Israel, Saudi Arabia, and the UAE in the MEA region. However, this region also comprises several growing economies, including Saudi Arabia and the UAE, which present great opportunities for CEM solution providers due to their diverse customer base. In recent years, the Gulf countries have shown a growing interest in adopting transformative technologies such as AI, machine learning, and cloud-based platforms to drive business growth across various industries. Even before the pandemic, countries in the MEA region had invested significantly in developing advanced technologies. However, the pandemic further increased the demand for CEM solutions, as businesses became more aware of improving customer experience. Leading players in the Middle East are now investing in integrating cloud-based platforms with CEM solutions, which is expected to fuel the growth of the customer experience management market in the coming years.

The report on the customer experience management market offers a comprehensive analysis of the market that can assist key players in devising growth strategies for the future. It provides detailed insights into the market and forecasts upcoming trends and developments that are likely to emerge in the market.

Key Findings of Study:
The market for customer experience management is categorized into several segments including component, deployment mode, organization size, touchpoint, industry vertical, and geography. In terms of component, the market is divided into solution and service. For deployment mode, it is classified into cloud-based and on-premise. The market is further categorized based on organization size into large enterprises and small and medium-sized enterprises (SMEs). Additionally, based on touchpoint, the market is segmented into call center, website, mobile applications, email, social media, and others. Lastly, the market is divided by industry vertical into IT & telecom, BFSI, energy & utilities, government, retail, manufacturing, and others.

The global customer experience management market is categorized into five regions, namely North America, Europe, Asia Pacific, the Middle East & Africa, and South America. The Asia Pacific region is anticipated to witness the highest growth rate during the forecast period, as it is an emerging market for customer experience tool vendors. The IT industry in the region has experienced significant growth in the last decade, with around 85% of the top 20 tech companies reporting year-on-year earnings growth in 2021, despite facing challenges such as supply chain disruptions and inflationary pressures due to the COVID-19 pandemic. Countries such as Taiwan, Japan, China, South Korea, Singapore, India, and Indonesia are driving the growth of the customer experience management market in the region due to the emergence of technology services. Furthermore, executives across APAC are supporting the adoption of CX technology, with 79% acknowledging the importance of CEM in providing a seamless customer experience. The use of CEM tools is expected to increase over the next 12 months, with nearly half of the executives surveyed identifying the provision of superior CX across multiple channels as a top priority. The growth of CRM adoption beyond sales and service/support is anticipated to improve coordination between teams and customer experience, with 81% of executives predicting its growth over the next three to five years. The customer experience management market in APAC is highly fragmented, with market players implementing multiple growth strategies such as new product launches, partnerships, collaborations, and acquisitions. Organizations are increasingly adopting CEM tools to transform their businesses and maintain market dominance. For instance, in July 2021, the Southeast Asian Commercial Joint Stock Bank (SeABank) adopted Oracle Financial Services Performance and Balance Sheet Management Suite products to transform its business and become a leader in retail banking with quality customer service. It is one of the first banks in Vietnam to implement Oracle's world-class products.

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