Customer Experience Management (CEM) Market outline with key players, vendors, & regions by 2018-2025

The global customer experience management marketsize is expected to reach USD 32.49 billion by 2025, according to a new report by Grand View Research, Inc., progressing at a CAGR of 22.9% during the forecast period. Growing focus of business organizations on retaining their customers by providing consistent and enhanced customer experience across multiple channels is one of the key trends stimulating market growth.

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Cloud-based implementation of customer experience management is expected to gain traction over the forecast period. This growth can be attributed to rising number of organizations using cloud deployment models at their contact center to effectively engage customers across different channels such as mobile, email, call center, social media, and chat.

The retail sector is one of the largest end-users segment of customer experience management software. Retailers are actively focusing on delivering enhanced customer experience while buying and interacting with the brand or the company. In current era, customers are relying on different technology to get information and to make their purchase decision. Retail companies are using structured analytics CEM technology to maintain detailed information about their customer's profile. By collecting this customer information from different touch points such as web, mobile, social and media, retail companies can get the idea about their customer preferences by analyzing their personalized insights. Using this crucial information, the retailers can deliver personalized and superior customer experience in turn gain loyal customer relationship.

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Further key findings from the report suggest:

• On the basis of touch point, the call center segment was the largest segment in 2016 and is anticipated to generate revenue of over USD 1.70 billion by 2025.

• Based on analytical tools, speech analytics is estimated to be at the forefront of the market throughout the forecast horizon

• The customer experience management market in the BFSI sector is anticipated to cross the USD 7.33 billion mark by 2025

• Asia Pacific is projected to witness substantial growth over the forecast period. The growth can be attributed to growing adoption of CEM techniques among various end-user industries. The regional market is expected to rise at a CAGR of 24.7% from 2017 to 2025

• Key players include IBM Corporation; Oracle Corporation; Adobe Systems Incorporated; Nokia Networks; and Avaya, Inc. dominated the market in 2016.

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Michelle Thoras 
Corporate Sales Specialist, USA
Radiant Insights, Inc
28 2nd Street, Suite 3036, San Francisco, CA 94105, United States
Phone: 1-415-349-0054
Toll Free: 1-888-202-9519
Email: sales@radiantinsights.com

Online Event Ticketing market size is expected to reach USD 67.99 billion by 2025

The global online event ticketing market size is expected to reach USD 67.99 billion by 2025, according to a new report by Grand View Research, Inc., exhibiting a 4.8% CAGR during the forecast period. Growing demand for online ticketing can be attributed to increased Internet accessibility and overall hassle-free experience in booking processes.

Event ticketing processes have witnessed a paradigm shift from traditional booking of tickets at event venue counters to purchasing tickets in advance from the comfort of one's home. Over the years, booking of tickets through smartphones and tablets has gained immense popularity on account of the perceived ease and flexibility of the procedure and user-friendly, attractive mobile interfaces developed by service providers.

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Major ticketing vendors are focusing on providing mobile applications and making websites customer-friendly to facilitate quick and easy ticketing transactions. Such applications enable customers to access all types of information about the event, ticket pricing, seating layouts, and other relevant information.

On account of intensifying competition in the online ticketing industry, service providers are vying to secure long-term contracts with theatres, production houses, sports authorities, and local event organizers in order to ensure sustainability. Promotion of movies, sports tournaments, music concerts, and stand-up comedy shows on the websites of service providers forms a sizeable portion of their revenue.

Uncertainties associated with online booking of tickets are high as demand fluctuates based on the popularity of the event. In case of movies, the stage of lifecycle a movie has reached plays a pivotal role in demand for online booking. To elaborate, 2-3 weeks after a film's release, patrons prefer purchasing tickets at the counter instead of paying additional surcharge fees since movie halls are comparatively less crowded during that time.

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Further key findings from the report suggest:

• Mobile applications are expected to surpass the traditional Internet platform for online movie booking services by 2019, which can be attributed to increased penetration of smartphones and improved connectivity through affordable 3G and 4G LTE Internet packs

• Asia Pacific is expected to witness significant growth over the forecast period due to increasing penetration of Internet and smart devices

• Increased disposable income is resulting in a rise in discretionary spending on entertainment and leisure. Moreover, movies account for a major part of the entertainment sector, which may catapult demand over the coming years

• Increasing movie releases worldwide is also expected to drive online movie booking services

• Venue owners and concert organizers across the globe are selling VIP packages, including premium food and beverages, backstage access, preferred seats, and VIP restrooms, which is expected to increase market growth.

Contact Details:
Michelle Thoras 
Corporate Sales Specialist, USA
Radiant Insights, Inc
28 2nd Street, Suite 3036, San Francisco, CA 94105, United States
Phone: 1-415-349-0054
Toll Free: 1-888-202-9519
Email: sales@radiantinsights.com