Asia Pacific Customer Success Platforms Market By Component (Platforms (Without Services) and Services), By Application (Sales & Marketing Optimization, Customer Service, Risk & Compliance Management, Reporting & Analytics, Customer Segmentation & Onboarding, and Others), By Deployment Type (On-premise and Cloud), By Enterprise Size (Large Enterprises and Small & Medium Enterprises), By End User (BFSI, Retail & eCommerce, Transportation & Logistics, Healthcare, Telecom & IT, Government & Public Sector and Others), By Country, Industry Analysis and Forecast, 2020 - 2026
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Market Report Description
The Asia Pacific Customer Success Platforms Market would witness market growth of 22.5% CAGR during the forecast period (2020-2026). With the growing competition, companies are adopting emerging technologies, like AI and ML, to get a competitive advantage. AI has various applications in the domain of customer success, like churn forecasting, customer behavior analysis, and customer journey monitoring.
AI can make CRMs and customer success applications smarter through the utilization of advanced algorithms. These systems can produce automated insights about problems and behavior in order to help organizations in better understanding of the customers. Moreover, AI embedded chatbots can enhance customer experience & satisfaction, causing better revenue & profits.
ML-built customer success platforms use data to produce precise insights without being explicitly programmed. These systems are capable of detecting customer preferences and recommend suitable solutions to trigger their behavior. ML-enabled customer success systems can also enhance workflow by initializing customized customer interactions. Regarding customer success, these major technologies can leverage various latent regions to improve customer success.
The deployment of cloud-based customer success platforms has boosted the adoption of customer success platforms among small enterprises and is anticipated to surge due to constant R&D investments by providers. By adopting suitable cloud-based solutions, companies proactively address the concerns related to real-time optimization & take faster decisions, hence enhancing the overall operational productivity.
Based on Component, the market is segmented into Platforms (Without Services) and Services. Based on Application, the market is segmented into Sales & Marketing Optimization, Customer Service, Risk & Compliance Management, Reporting & Analytics, Customer Segmentation & Onboarding, and Others. Based on Deployment Type, the market is segmented into On-premise and Cloud. Based on Enterprise Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Based on End User, the market is segmented into BFSI, Retail & eCommerce, Transportation & Logistics, Healthcare, Telecom & IT, Government & Public Sector and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
The China market dominated the Asia Pacific Cloud Customer Success Platforms Market by Country 2019, and would continue to be a dominant market till 2026. The Japan market is exhibiting a CAGR of 23.1% during (2020 - 2026). Additionally, The India market is anticipated to witness a CAGR of 24.5% during (2020 - 2026).
The Large Enterprises market dominated the South Korea Customer Success Platforms Market by Enterprise Size 2019, thereby, achieving a market value of $44 million by 2026. The Small & Medium Enterprises market would witness a CAGR of 25.3% during (2020 - 2026).
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Salesforce.com, Inc., Cisco Systems, Inc., HubSpot, Inc., Medallia, Inc. (Strikedeck, Inc.), Gainsight, Inc., Totango, Ltd., UserIQ, Inc., Planhat AB, Salesmachine, Inc., and Freshworks, Inc.
Scope of the Study
Market Segments Covered in the Report:
- Platforms (Without Services)
- Sales & Marketing Optimization
- Customer Service
- Risk & Compliance Management
- Reporting & Analytics
- Customer Segmentation & Onboarding
By Deployment Type
By Enterprise Size
- Large Enterprises
- Small & Medium Enterprises
- Retail & eCommerce
- Transportation & Logistics
- Telecom & IT
- Government & Public Sector
- South Korea
- Rest of Asia Pacific
Key Market Players
List of Companies Profiled in the Report:
- Salesforce.com, Inc.
- Cisco Systems, Inc.
- HubSpot, Inc.
- Medallia, Inc. (Strikedeck, Inc.)
- Gainsight, Inc.
- Totango, Ltd.
- UserIQ, Inc.
- Planhat AB
- Salesmachine, Inc.
- Freshworks, Inc.
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