Customer Success Platforms Market to Reach $2.5 Billion by 2025
According to a recent research conducted by MarketsandMarkets™, the worldwide customer success platforms market is valued at $1 billion in 2020 and expected to expand to $2.5 billion by 2025, growing 20% annually !
Key growth driving factors :
– advent of cloud computing
– growing demand for advance analytics solutions to monitor customer scores and reduce churn
– increasing data volume due to growing digitalization.
Other factors :
– emergence of artificial intelligence to monitor customer journeys
– increasing investments by startups.
In the report, we also learn that :
– the reporting and analytics segment is expected to record the highest growth.
– services segment is expected to grow at a higher rate than the platforms one.
As for the Reporting and Analytics tools,
it refers to tracking customer data, product usage, time spent interacting with the company as well as other visualization tools.