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Customer Success Management Market Size, Share & Trends 2031
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Customer Success Management Market Size, Share & Trends 2031

Segments - Customer Success Management Market by Applications (Customer Experience Management, Risk & Compliance Management, Sales & Marketing Management, and Others), Deployment Modes (Cloud and On-premise), Enterprise Sizes (Small & Medium Enterprises and Large Enterprises), End-users (Retail, BFSI, IT & Telecommunication, Healthcare, Government, and Others), and Regions (Asia Pacific, North America, Latin America, Europe and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 - 2031

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Author : Raksha Sharma
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Fact-checked by : V. Chandola
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Editor : Shruti Bhat

Upcoming | Report ID :ICT-SE-4251 | 4.2 Rating | 67 Reviews | 160 Pages | Format : PDF Excel PPT

Report Description


Customer Success Management Market Outlook 2031:

The global customer success management market size was valued at USD 1.44 Billion in 2022 and is projected to reach USD 7.66 Billion by 2031, expanding at a CAGR of 20.40% during the forecast period 2023 - 2031. The growth of the market is attributed to the increasing usage of cloud-based solutions to enhance client success management.

Customer success refers to a process of anticipating questions that customers can ask and providing answers and solutions for them. It focuses working proactively with customers and aiding them to get more value out of their purchase. Effective customer success strategy decreases customer churn and increases up-sell opportunities.

Customer Success Management Market Outlook

Key functions for customer success management includes technical enablement, knowledge enablement, churn risk identification, growth opportunity identification, and general account management. It facilitates businesses to achieve lifetime customer value and recurring revenue. Customer success management oversees customer success representatives of a business and practices customer success strategies to assist customers.

  • Increasing adoption of cloud-based solution to automate and improve client success prediction accuracy is expected to boost the market during the forecast period.
  • Rising need of data collection for decision-making drives the market.
  • Growing need for customer satisfaction and customer retention is estimated to fuel the market in the coming years.
  • Increasing demand for monitoring customer scores and reducing churn rates boosts the market.
  • Increasing number of companies, organizations, and enterprises are using chatbots to engage customers in conversations is estimated to fuel the market during the projected period.
  • Data aggregation and synchronization from different silos hinder the growth of the market.
  • Emergence of artificial intelligence and machine learning to monitor customer activities offers growth opportunities for the key market players.

Scope of Customer Success Management Market Report

The report on the global customer success management market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Customer Success Management Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2022

Historic Data

2016–2021

Forecast Period

2023–2031

Segmentation

Applications (Customer Experience Management, Risk & Compliance Management, Sales & Marketing Management, and Others), Deployment Modes (Cloud and On-premise), Enterprise Sizes (Small & Medium Enterprises and Large Enterprises), and End-users (Retail, BFSI, IT & Telecommunication, Healthcare, Government, and Others)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

International Business Machines Corporation; Salesforce, Inc.; Gainsight, Inc.; UserIQ; Open Text Corporation; Medallia; Oracle Corporation; Verint Systems, Inc.; ClientSuccess, Inc.; Avaya, Inc.; Freshworks, Inc.; Customer Success Box; Planhat; and Others

Customer Success Management Market Segment Insights

Sales & marketing segment drives the market

Based on applications, the market is divided into customer experience management, risk & compliance management, sales & marketing management, and others.

The sales & marketing management segment is expected to boost the market during the forecast period, as customer management platforms facilitates sales executives and vendors to deal with their customers on the basis of data insights. These platforms offer visibility of customers activities to aid companies, enterprises, and organizations to provide customized experience to their customers.

Customer Success Management Market Application

Cloud segment boosts the market

In terms of deployment modes, the market is bifurcated into cloud and on-premise. The cloud segment is projected to drive the market during the forecast period, as cloud-based solutions are reliable, flexible, scalable, and effective.

These cloud-based solutions automate and improve the predictive accuracy of customer success management. These factors spur the growth of the segment.

Small & medium enterprises segment expands rapidly

On the basis of enterprise sizes, the market is segregated into small & medium enterprises and large enterprises. The small & medium enterprises segment is anticipated to hold a significant market share during the forecast period, owing to increasing adoption of customer success management solutions to acquire panoramic view of customer activities to recognize trends, patterns, and insights to improve business performance.

Retail segment holds a key market share

In terms of end-users, the market is divided into retail, BFSI, IT & telecommunication, healthcare, government, and others. The retail segment is estimated to boost the market during the forecast period, owing to increasing implementation of customer success management in the retail industry.

The retail industry uses customer success management to track customer information and update or inform customers regarding new features or updates of any product. These factors aid in the expansion of the segment.

Customer Success Management Market End User

North America dominates the market

Based on regions, the market is segmented into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market in North America is expected to register a significant CAGR during the forecast period, due to growing presence of key market players in the region.

Increasing number of enterprises are providing multichannel services to customers. Enterprises, organizations, and companies are adopting business tools such as speech analytics, test analytics, sentiment analytics, and others. These factors aid in the expansion of the market in North America.

Customer Success Management Market Region

Segments

The global customer success management market has been segmented on the basis of

Applications

  • Customer Experience Management
  • Risk & Compliance Management
  • Sales & Marketing Management
  • Others

Deployment Modes

  • Cloud
  • On-premise

Enterprise Sizes

  • Small & Medium Enterprise
  • Large Enterprise

End-users

  • Retail
  • BFSI
  • IT & Telecommunication
  • Healthcare
  • Government
  • Others

Regions

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

Key Players

  • International Business Machines Corporation
  • Salesforce, Inc.
  • Gainsight, Inc.
  • UserIQ
  • Open Text Corporation
  • Medallia
  • Oracle Corporation
  • Verint Systems, Inc.
  • ClientSuccess, Inc.
  • Avaya, Inc.
  • Freshworks, Inc.
  • Customer Success Box
  • Planhat
  • Others

Competitive Landscape

The global customer success management market is competitive with the presence of key players such as International Business Machines Corporation; Salesforce, Inc.; Gainsight, Inc.; UserIQ; Open Text Corporation; Medallia; Oracle Corporation; Verint Systems, Inc.; ClientSuccess, Inc.; Avaya, Inc.; Freshworks, Inc.; Customer Success Box; Planhat; and others, who use business strategies such as mergers, partnerships, collaborations, acquisitions, and product launches to dominate the market.

For example, in November 2021, Gainsight launched Horizon AI, which facilitates companies in taking customer success actions with the help of AI. In December 2021, Verient Systems, Inc. launched its Customer Engagement Cloud Platform in India to aid clients with its digital transformation services.

Customer Success Management Market Key Players

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Customer Success Management Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Customer Success Management Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Customer Success Management Market - Supply Chain
  4.5. Global Customer Success Management Market Forecast
     4.5.1. Customer Success Management Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Customer Success Management Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Customer Success Management Market Absolute $ Opportunity
5. Global Customer Success Management Market Analysis and Forecast by Applications
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Applications
     5.2.2. Y-o-Y Growth Projections by Applications
  5.3. Customer Success Management Market Size and Volume Forecast by Applications
     5.3.1. Customer Experience Management
     5.3.2. Risk & Compliance Management
     5.3.3. Sales & Marketing Management
     5.3.4. Others
  5.4. Absolute $ Opportunity Assessment by Applications
  5.5. Market Attractiveness/Growth Potential Analysis by Applications
6. Global Customer Success Management Market Analysis and Forecast by End Users
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by End Users
     6.2.2. Y-o-Y Growth Projections by End Users
  6.3. Customer Success Management Market Size and Volume Forecast by End Users
     6.3.1. Retail
     6.3.2. BFSI
     6.3.3. IT & Telecommunication
     6.3.4. Healthcare
     6.3.5. Government
     6.3.6. Others
  6.4. Absolute $ Opportunity Assessment by End Users
  6.5. Market Attractiveness/Growth Potential Analysis by End Users
7. Global Customer Success Management Market Analysis and Forecast by Region
  7.1. Market Trends
  7.2. Introduction
     7.2.1. Basis Point Share (BPS) Analysis by Region
     7.2.2. Y-o-Y Growth Projections by Region
  7.3. Customer Success Management Market Size and Volume Forecast by Region
     7.3.1. North America
     7.3.2. Latin America
     7.3.3. Europe
     7.3.4. Asia Pacific
     7.3.5. Middle East and Africa (MEA)
  7.4. Absolute $ Opportunity Assessment by Region
  7.5. Market Attractiveness/Growth Potential Analysis by Region
  7.6. Global Customer Success Management Demand Share Forecast, 2019-2026
8. North America Customer Success Management Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
  8.2. North America Customer Success Management Market Size and Volume Forecast by Country
     8.2.1. U.S.
     8.2.2. Canada
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. North America Customer Success Management Market Size and Volume Forecast by Applications
     8.4.1. Customer Experience Management
     8.4.2. Risk & Compliance Management
     8.4.3. Sales & Marketing Management
     8.4.4. Others
  8.5. Basis Point Share (BPS) Analysis by Applications
  8.6. Y-o-Y Growth Projections by Applications
  8.7. North America Customer Success Management Market Size and Volume Forecast by End Users
     8.7.1. Retail
     8.7.2. BFSI
     8.7.3. IT & Telecommunication
     8.7.4. Healthcare
     8.7.5. Government
     8.7.6. Others
  8.8. Basis Point Share (BPS) Analysis by End Users
  8.9. Y-o-Y Growth Projections by End Users
  8.10. Market Attractiveness/Growth Potential Analysis
     8.10.1. By Country
     8.10.2. By Product Type
     8.10.3. By Application
  8.11. North America Customer Success Management Demand Share Forecast, 2019-2026
9. Latin America Customer Success Management Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Latin America Average Pricing Analysis
  9.2. Latin America Customer Success Management Market Size and Volume Forecast by Country
      9.2.1. Brazil
      9.2.2. Mexico
      9.2.3. Rest of Latin America
   9.3. Absolute $ Opportunity Assessment by Country
  9.4. Latin America Customer Success Management Market Size and Volume Forecast by Applications
     9.4.1. Customer Experience Management
     9.4.2. Risk & Compliance Management
     9.4.3. Sales & Marketing Management
     9.4.4. Others
  9.5. Basis Point Share (BPS) Analysis by Applications
  9.6. Y-o-Y Growth Projections by Applications
  9.7. Latin America Customer Success Management Market Size and Volume Forecast by End Users
     9.7.1. Retail
     9.7.2. BFSI
     9.7.3. IT & Telecommunication
     9.7.4. Healthcare
     9.7.5. Government
     9.7.6. Others
  9.8. Basis Point Share (BPS) Analysis by End Users
  9.9. Y-o-Y Growth Projections by End Users
  9.10. Market Attractiveness/Growth Potential Analysis
     9.10.1. By Country
     9.10.2. By Product Type
     9.10.3. By Application
  9.11. Latin America Customer Success Management Demand Share Forecast, 2019-2026
10. Europe Customer Success Management Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Europe Average Pricing Analysis
  10.2. Europe Customer Success Management Market Size and Volume Forecast by Country
     10.2.1. Germany
     10.2.2. France
     10.2.3. Italy
     10.2.4. U.K.
     10.2.5. Spain
     10.2.6. Russia
     10.2.7. Rest of Europe
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Europe Customer Success Management Market Size and Volume Forecast by Applications
     10.4.1. Customer Experience Management
     10.4.2. Risk & Compliance Management
     10.4.3. Sales & Marketing Management
     10.4.4. Others
  10.5. Basis Point Share (BPS) Analysis by Applications
  10.6. Y-o-Y Growth Projections by Applications
  10.7. Europe Customer Success Management Market Size and Volume Forecast by End Users
     10.7.1. Retail
     10.7.2. BFSI
     10.7.3. IT & Telecommunication
     10.7.4. Healthcare
     10.7.5. Government
     10.7.6. Others
  10.8. Basis Point Share (BPS) Analysis by End Users
  10.9. Y-o-Y Growth Projections by End Users
  10.10. Market Attractiveness/Growth Potential Analysis
     10.10.1. By Country
     10.10.2. By Product Type
     10.10.3. By Application
  10.11. Europe Customer Success Management Demand Share Forecast, 2019-2026
11. Asia Pacific Customer Success Management Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Asia Pacific Average Pricing Analysis
  11.2. Asia Pacific Customer Success Management Market Size and Volume Forecast by Country
     11.2.1. China
     11.2.2. Japan
     11.2.3. South Korea
     11.2.4. India
     11.2.5. Australia
     11.2.6. Rest of Asia Pacific (APAC)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Asia Pacific Customer Success Management Market Size and Volume Forecast by Applications
     11.4.1. Customer Experience Management
     11.4.2. Risk & Compliance Management
     11.4.3. Sales & Marketing Management
     11.4.4. Others
  11.5. Basis Point Share (BPS) Analysis by Applications
  11.6. Y-o-Y Growth Projections by Applications
  11.7. Asia Pacific Customer Success Management Market Size and Volume Forecast by End Users
     11.7.1. Retail
     11.7.2. BFSI
     11.7.3. IT & Telecommunication
     11.7.4. Healthcare
     11.7.5. Government
     11.7.6. Others
  11.8. Basis Point Share (BPS) Analysis by End Users
  11.9. Y-o-Y Growth Projections by End Users
  11.10. Market Attractiveness/Growth Potential Analysis
     11.10.1. By Country
     11.10.2. By Product Type
     11.10.3. By Application
  11.11. Asia Pacific Customer Success Management Demand Share Forecast, 2019-2026
12. Middle East & Africa Customer Success Management Market Analysis and Forecast
  12.1. Introduction
     12.1.1. Basis Point Share (BPS) Analysis by Country
     12.1.2. Y-o-Y Growth Projections by Country
     12.1.3. Middle East & Africa Average Pricing Analysis
  12.2. Middle East & Africa Customer Success Management Market Size and Volume Forecast by Country
     12.2.1. Saudi Arabia
     12.2.2. South Africa
     12.2.3. UAE
     12.2.4. Rest of Middle East & Africa (MEA)
  12.3. Absolute $ Opportunity Assessment by Country
  12.4. Middle East & Africa Customer Success Management Market Size and Volume Forecast by Applications
     12.4.1. Customer Experience Management
     12.4.2. Risk & Compliance Management
     12.4.3. Sales & Marketing Management
     12.4.4. Others
  12.5. Basis Point Share (BPS) Analysis by Applications
  12.6. Y-o-Y Growth Projections by Applications
  12.7. Middle East & Africa Customer Success Management Market Size and Volume Forecast by End Users
     12.7.1. Retail
     12.7.2. BFSI
     12.7.3. IT & Telecommunication
     12.7.4. Healthcare
     12.7.5. Government
     12.7.6. Others
  12.8. Basis Point Share (BPS) Analysis by End Users
  12.9. Y-o-Y Growth Projections by End Users
  12.10. Market Attractiveness/Growth Potential Analysis
     12.10.1. By Country
     12.10.2. By Product Type
     12.10.3. By Application
  12.11. Middle East & Africa Customer Success Management Demand Share Forecast, 2019-2026
13. Competition Landscape
  13.1. Global Customer Success Management Market: Market Share Analysis
  13.2. Customer Success Management Distributors and Customers
  13.3. Customer Success Management Market: Competitive Dashboard
  13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     13.4.1. International Business Machines Corporation
     13.4.2. Salesforce, Inc.
     13.4.3. Gainsight, Inc.
     13.4.4. UserIQ
     13.4.5. Open Text Corporation
     13.4.6. Medallia
     13.4.7. Oracle Corporation
     13.4.8. Verint Systems, Inc.
     13.4.9. ClientSuccess, Inc.
     13.4.10. Avaya, Inc.

Methodology

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