At 17.3% CAGR, the North America Customer Experience Management Market is projected to be worth US$ 7,342.97 million by 2028, says Business Market Insights   

According to Business Market Insights’ research, the North America customer experience management market was valued at US$ 4,572.39 million in 2022 and is expected to reach US$ 7,342.97 million by 2028, registering an annual growth rate of 17.3% from 2022 to 2028. Surging adoption of artificial intelligence and boosting e-commerce industries.                

The growing adoption of artificial intelligence (AI) in verticals such as retail, IT & telecom, automotive, and healthcare is helping to improve the customer experience. The companies are analyzing future customer behavior by integrating AI and machine learning into consumer experience solutions. These predictive analytics and AI-enabled solutions help companies extract meaningful insights from customer data. Therefore, companies are increasingly focusing on implementing advanced technologies to improve the customer experience. For instance, in December 2021, TPG launched Anna, an AI-based customer experience platform. It evaluates more interactions with high accuracy. Anna Chatbot can evaluate customer interactions 100% and provide a sample-based analysis of customer chats and voice communications. Furthermore, companies are using advanced AI applications such as facial recognition, biometrics, chatbots, and digital assistants to improve the customer experience. For instance, the Facebook Messenger bot uses AI and machine learning to help shoppers find what they are looking for through simple conversations, which helps improve the customer experience and increase profitability. Similarly, adopting augmented reality across retailers is expected to help improve the shopping experience. For example, IKEA integrates augmented reality to show furniture in real-time, helping customers make purchase decisions and reduce returns. Therefore, the rapid adoption of virtual assistants/bots is stimulating the demand for consumer experience solutions.  

On the contrary, raising concerns regarding data breaching and security. 

• Based on component, the North America customer experience management market is segmented into solution and service. The solution segment held 78.8% market share in 2022, amassing US$ 3,603.91 million. It is projected to garner US$ 9,668.82 million by 2028 to expand at 17.9% CAGR during 2022–2028.
• Based on deployment mode, the North America customer experience management market is categorized into on premise and cloud based. The cloud based segment held 74.2% market share in 2022, amassing US$ 3,394.41 million. It is projected to garner US$ 9,107.50 million by 2028 to expand at 17.9% CAGR during 2022–2028.
• Based on organization size, the North America customer experience management market is bifurcated into on Small and Medium Enterprises and Large Enterprises. The Large Enterprises segment held 65.7% market share in 2022, amassing US$ 3,005.99 million. It is projected to garner US$ 7,461.56 million by 2028 to expand at 16.4% CAGR during 2022–2028.
• Based on touchpoint, the North America customer experience management market is segmented into call center, website, mobile application, email, social media, and others. The call center segment held 31.2% market share in 2022, amassing US$ 1,426.18 million. It is projected to garner US$ 3,951.69 million by 2028 to expand at 18.5% CAGR during 2022–2028.
• Based on industry vertical, the North America 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 25.5% market share in 2022, amassing US$ 1,166.69 million. It is projected to garner US$ 3,110.05 million by 2028 to expand at 17.8% CAGR during 2022–2028
• Based on country, the North America customer experience management market has been segmented into the US, Canada, and Mexico.  Our regional analysis states that the US captured 84.3% market share in 2022. It was assessed at US$ 3,853.61 million in 2022 and is likely to hit US$ 10,175.72 million by 2028, exhibiting a CAGR of 17.6% during the forecast period.  

Key players dominating the North America 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 2020, Adobe has expanded the solutions offering of its Experience Cloud for healthcare. This enables healthcare enterprises deploy customer insights to form meaningful and personalized experiences.
• In 2019, Avaya and Standard Chartered, international banking group have had formed partnership for multi-year client experience transformation project.  

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