The increasing need for big data analytics in the sectors such as banking & finance, retail & e-commerce, and IT & telecom is generating the need for customer success platform market across the globe. Moreover, increasing usage of cloud computing, artificial intelligence and machine learning, and the need for data interpretation for developing strategies coupled with the enhancing employee’s business and analytical skills are key factors contributing to the growth of the Customer Success market across the globe.
According to MarkNtel Advisors’ research report titled “Global Customer Success Platform Market Analysis, 2019”, the Global Customer Success market is anticipated to grow at a CAGR of around 24% during 2020-25. The market is growing due to the increasing number of enterprises adopting digital technology. Moreover, in 2019, the North America region dominated the Global Customer Success Platform market on an account of increasing IT spending in the various industries such as banking & finance, telecom, and government & public sector also.
The cloud-based segment dominated the market in 2019 due to the benefits of a cloud-based solution such as easy maintenance, accessibility of data, and low cost of up-gradation. Moreover, the key factors such as gathering data from various sources and being present at a single place are the major contributors for the deployment of the Customer Success Platform market and the same trend is expected to maintain dominance in the forecast period of 2020-25. However, the on-premise deployment had a considerable share in 2019 due to factors such as low awareness about the benefit of cloud-based deployment and easy customization.
In 2019, the customer service segment acquired the major market share on an account of the increasing organization’s strategic outlook, greater operational efficiency. Moreover, by components the solution segment dominated the market in 2019, owing to the increasing number of large and small-medium enterprises and rising awareness about the deployment of the customer success platforms in various organizations, as stated in the MarkNtel Advisors in its research report “Global Customer Success Platform Market Analysis, 2020”.
Product Launches by the Companies to Create Stiff Competition
The key players in the Global Customer Success Platform market are Natero, ChurnZero, Inc., ClientSuccess, Olestra, UserIQ, Planhat, Salesmachine Inc, etc. These companies are launching new products to gain a competitive edge in the industry.
A few of the instances of the new product launch by the companies are: In 2019, Gainsight, the provider of customer growth solution launched “Gainsight PX” for the organizations to help in the data-driven decisions. Moreover, UserIQ launched a mobile app to support the customer success market.
Key Questions Answered in the Market Research Report
1. What are the key market statistics (Market Overview, Market Size, Forecast, CAGR, Market Segmentation, Market Shares) of Global Customer Success Platform Market?
2. What are the key market or technology trends in Global Customer Success Platform Market?
3. What are the significant innovations, technology upgrades, opportunities, regulations, growth drivers and challenges in the Global Customer Success Platform Market?
4. Who are the key competitors or market players and how they perform in global competitive benchmarking matrix?
5. What are the key results derived from the market surveys conducted during the course of Global Customer Success Platform Market study?