Report : Middle East & Africa Customer Experience Management Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Component (Solution and Service), Deployment Mode (On Premise and Cloud based), Organization Size (Small and Medium Enterprises (SMEs) and Large Enterprises), Touchpoint (Call Center, Website, Mobile Application, Email, Social Media, and Others), and Industry Vertical (IT and Telecom, BFSI, Energy and Utilities, Government, Retail, Manufacturing, and Others)
At 13.0% CAGR, the Middle East & Africa Customer Experience Management Market is speculated to be worth US$ 1,003.62 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Middle East & Africa customer experience management market was valued at US$ 482.18 million in 2022 and is expected to reach US$ 1,003.62 million by 2028, registering an annual growth rate of 18.8% from 2022 to 2028. Incorporation of new business models and burgeoning innovation in omni channel shopping.
Significant structural changes emerged from traditional business structures, resulting in a new, profitable concept called the "on-demand" business model. This business structure focuses primarily on providing direct customer-centric services, thereby expanding the customer base to meet customer requirements in a short period and be supported by superior customer products and services. Investors are primarily focused on investing in such companies, as these business models are based on higher rates of return combined with better customer service. For example, one of the most common causes of such large-scale funding is Uber, which received about US$ 8.6 billion in funding in 2016, and Airbnb, which raised about US$ 2.4 billion in 2016. The increasing popularity of the on-demand business model boosts the acceptance of omnichannel shopping experiences. Furthermore, the need to personalize consumer behavior led companies to embark on strategic initiatives expected to increase overall product sales and profitability.
On the contrary, high concerns regarding data breaching and security.
- Based on component, the Middle East & Africa customer experience management market is segmented into solution and service. The solution segment held 70.6% market share in 2022, amassing US$ 340.54 million. It is projected to garner US$ 720.51 million by 2028 to expand at 13.3% CAGR during 2022–2028.
- Based on deployment mode, the Middle East & Africa customer experience management market is categorized into on premise and cloud based. The cloud based segment held 60.8% market share in 2022, amassing US$ 293.01 million. It is projected to garner US$ 631.94 million by 2028 to expand at 13.7% CAGR during 2022–2028.
- Based on organization size, the Middle East & Africa customer experience management market is bifurcated into on small and medium enterprises and large enterprises. The large enterprises segment held 69.8% market share in 2022, amassing US$ 336.70 million. It is projected to garner US$ 674.36 million by 2028 to expand at 12.3% CAGR during 2022–2028.
- Based on touchpoint, the Middle East & Africa customer experience management market is segmented into call center, website, mobile application, email, social media, and others. The call center segment held 27.5% market share in 2022, amassing US$ 132.62 million. It is projected to garner US$ 291.75 million by 2028 to expand at 14.0% CAGR during 2022–2028.
- Based on industry vertical, the Middle East & Africa customer experience management market is segmented into IT and telecom, BFSI, energy and utilities, government, retail, manufacturing, and others. The IT and telecom segment held 21.7% market share in 2022, amassing US$ 104.47 million. It is projected to garner US$ 223.39 million by 2028 to expand at 13.5% CAGR during 2022–2028
- Based on country, the Middle East & Africa customer experience management market has been segmented into Saudi Arabia, the UAE, South Africa, and Rest of MEA. Our regional analysis states that Saudi Arabia captured 39.9% market share in 2022. It was assessed at US$ 192.41 million in 2022 and is likely to hit US$ 394.52 million by 2028, exhibiting a CAGR of 12.7% during the forecast period.
Key players dominating the Middle East & Africa customer experience management market are Adobe; Avaya Inc.; IBM Corporation; NICE Ltd.; Oracle Corporation; SAP SEl; Verint Systems, Inc.; Zendesk; SAS Institute Inc.; and Salesforce.com, inc. among others.
- In 2021, Avaya has launched Avaya Experience Business. It aligns services, partners and developers of Avaya into an ecosystem for improving experiences for both customers and employees.
- In 2020, SAP launched "SAP Customer Data Platform" that helps organizations in creation of overall customer profile via use of multiple sources data both from online and social channels.
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