The research firm Contrive Datum Insights has just recently added to its database a report with the heading global Customer Engagement Solutions Market .Both primary and secondary research methodologies have been utilised in order to conduct an analysis of the worldwide Customer Engagement Solutions Market . In order to provide a comprehensive comprehension of the topic at hand, it has been summed up using appropriate and accurate market insights. According to Contrive Datum Insights, this worldwide comprehensive report is broken up into several categories in order to present the data in a way that is understandable, succinct, and presented in a professional manner. Solutions for increasing and retaining customers through business communications and interactions fall under the category of customer engagement. Software for managing omni-channel marketing, web chat, customer service, and other aspects of customer engagement are also included in customer engagement solutions. This solution can be used for automation, collaborative application development, and workforce optimization.
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Customer Engagement Solutions Market Competitive Research And Precise Outlook 2023 To 2030
1. Sample on Global Customer Engagement Solutions Market - Global
Industry Analysis, Size, Share, Growth Opportunities, Future Trends,
Covid-19 Impact, SWOT Analysis, Competition and Forecasts 2022 to
2030
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Global Customer Engagement Solutions Market, 2023-2030
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Research Methodology
Methodology/Research Approach
Our research methodology implements a mix of primary as well as secondary research. Our
projects are initiated with secondary research, where we refer to a variety of sources including
trade databases; government published documents, investor presentations, company annual
reports, white papers, and paid databases.
Research Programs/Design
Requirement
collection
Feasibility check of
client requirements
Draft of
deliverables
(iterative step)
Approval from
client
Projectinitiation
Secondary
research
Data collection Primary research
Data validation Data analysis
Cross verification
with panel of
experts
Projectdelivery to
the client
Post-delivery
support
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Global Customer Engagement Solutions Market, 2023-2030
Market Size Estimation
Post the initial data mining stage, we gather our findings and analyse them, Wearable Patch/ Data
Recordering out relevant insights. These are evaluated across teams and by our in-house
Medical. Along with data mining, we also initiate the primary research phase in which we interact
with companies operating within the market space.
To evaluate the wholeness of the market, we interact (via email or telephone) with players who
are responsible in adding value to the final product. Additionally, we interact with related industries
to understand the external factors that can drive/hamper a market. We also make it a point to
evaluate various economic parameters, which typically, have an impact on the purchasing choices
of individuals as well as companies.
Post these stages, data are cross-verified with the companies that operate in a market space. It
is important for us to study these companies in detail, to understand their existing performance
and future strategies which will define the market in the coming years.
All this data is collected and evaluated by our analysts. Post the preparation of the report and
data analysis, the findings are presented to our in-house experts who then eliminate
discrepancies (if any).
īˇ The key players in the industry and markets have been identified through extensive
secondary research.
īˇ The industryâs supply chain and market size, in terms of value, have been determined
through primary and secondary research processes.
īˇ All percentage shares, splits, and breakdowns have been determined using secondary
sources and verified through primary sources.
Data Source
Secondary Sources
In the secondary research process, various secondary sources, such as D&B Hoovers,
Bloomberg Business Week, and Factiva, have been referred to, for identifying and collecting
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information for this study. Secondary sources included annual reports, press releases, and
investor presentations of companies; whitepapers, certified publications, and articles by
recognized authors; gold standard and silver standard websites; regulatory bodies; trade
directories; and databases.
List of secondary sources include but are not limited to:
īˇ Academic Journals
īˇ Census.gov
īˇ Bloomberg
īˇ Company Annual Report
īˇ Hoovers
Preliminary data mining
Raw market data is obtained and collated on a broad front. Data is continuously Wearable Patch/
Data Reordered to ensure that only validated and authenticated sources are considered. In
addition, data is also mined from a host of reports in our repository, as well as a number of reputed
paid databases. For comprehensive understanding of the market, it is essential to understand the
complete value chain and in order to facilitate this; we collect data from raw material suppliers,
distributors as well as buyers.
Technical issues and trends are obtained from surveys, technical symposia and trade journals.
Technical data is also gathered from intellectual property perspective, focusing on white space
and freedom of movement. Operation Industry Vertical dynamics with respect to drivers,
restraints, pricing trends is also gathered. As a result, the material developed contains a wide
range of original data that is then further cross-validated and authenticated with published
sources.
Primary Sources
This is the final step in estimating and forecasting for our reports. Exhaustive primary interviews
are conducted, on face to face as well as over the phone to validate our findings and assumptions
used to obtain them. Interviewees are approached from leading companies across the value chain
including suppliers, Component providers, domain experts and buyers so as to ensure a holistic
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and unbiased picture of the market. These interviews are conducted across the globe, with
language barriers overcome with the aid of local staff and interpreters. Primary interviews not only
help in data validation, but also provide critical insights into the market, current business scenario
and future expectations and enhance the quality of our reports. All our estimates and forecast are
verified through exhaustive primary research with Key Operation Industry Vertical Participants
(KIPs) which typically include:
īˇ Market leading companies
īˇ Raw material suppliers
īˇ Operating System distributors
īˇ Buyers
The key objectives of primary research are as follows:
īˇ To validate our data in terms of accuracy and acceptability
īˇ To gain an insight in to the current market and future expectations
Some of the KIPs are mentioned as below:
īˇ Medtronic
īˇ Olympus
īˇ Otsuka Holdings Co., Ltd.
īˇ Etcetera
īˇ Others
Statistical model
Our market estimates and forecasts are derived through simulation models. A unique model is
created customized for each study. Gathered information for market dynamics, Component
landscape, Sensor Type development and pricing trends is fed into the model and analyzed
simultaneously. These factors are studied on a comparative basis, and their impact over the
forecast period is quantified with the help of correlation, regression and time series analysis.
Market forecasting is performed via a combination of economic tools, technological analysis, and
industry experience and domain expertise.
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Econometric models are generally used for short-term forecasting, while technological market
models are used for long-term forecasting. These are based on an amalgamation of Component
landscape, regulatory frameworks, economic outlook and business principles. A bottom-up
approach to market estimation is preferred, with key regional markets analyzed as separate
entities and integration of data to obtain global estimates. This is critical for a deep understanding
of the industry as well as ensuring minimal errors. Some of the parameters considered for
forecasting include:
īˇ Market drivers and restrains, along with their current and expected impact
īˇ Raw material scenario and supply v/s price trends
īˇ Regulatory scenario and expected developments
īˇ Current capacity and expected capacity additions up to 2026
We assign weights to these parameters and quantify their market impact using weighted average
analysis, to derive an expected market growth rate.
Data Triangulation
Contrive Datum Insights also leverages three Industry Verticals of data triangulation approaches
as follows:
Data Triangulation Techniques
Source: Secondary Literature, Expert Interviews, and Contrive Datum Insights Analysis 2023
Data Source Triangulation
âĸ Extracting data and validation
from multiple type of
secondary and primary
sources
Methodology Triangulation
âĸ Combining various
methodologies to validate
data inputs
Theory Triangulation
âĸ Applying different theories to
check credibility of data sets
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Contrive Datum Insights data modeling tool is an in-house developed tool, which is based on the
fundamental Top Down and Bottom Up approach.
Bottom Up Approach
Source: Secondary Literature, Expert Interviews, and Contrive Datum Insights Analysis 2023
After arriving at the overall market size using the market size estimation processes as explained
above, the market was split into several segments and sub segments. To complete the overall
market engineering process and arrive at the exact statistics of each market segment and sub
segment, the data triangulation and market breakdown procedures were employed, wherever
applicable. The data was triangulated by studying several factors and trends from both the
demand and supply sides.
Global
Market
Value
Add up all Country Market Sizes
to Derive Regional Market Size
Market Size for a Country = Add up of Total
Company Revenues
Primary: Demand and Supply Side Experts
Secondary: Annual Reports, Presentations,
Press Release, Journals, Paid Databases,
and A2Z Market Research database
Primary: Demand & Supply Side Experts
Secondary: Annual Reports, Presentations,
Press Releases, Journals, Paid Databases,
and A2Z Market Research database
Bottom-upApproach (Segmental Analysis) Global Market
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Top Down Approach
Source: Secondary Literature, Expert Interviews, and Contrive Datum Insights Analysis 2023
Report Objectives
īˇ To define, describe, and forecast the {Keyword} Market by segments, and region
īˇ To provide detailed information about the major factors (drivers, restraints, opportunities,
and challenges) influencing the growth of the market
īˇ To analyze the sub-segments with respect to individual growth trends, prospects, and
contributions to the total market
īˇ To analyze opportunities in the market for stakeholders and provide the competitive
landscape of the market
īˇ To forecast the revenues of the market segments with respect to the major regions, such
as North America, Europe, Asia Pacific (APAC), Middle East & Africa and South America.
īˇ To profile the key players and comprehensively analyze their recent developments and
positioning in {Keyword} market.
Global Market ($ Million)
Geographical Split
Percent Split for Type and
Application Segments for
Market
Country Split
Global Market Size Through Primaries(Demand and
Supply Side Experts)
Secondary: Annual Reports, Presentations, Press
Release, Journals, Paid Databases, and A2Z Market
Research
Primary: Demand and Supply Side Experts
Secondary: Annual Reports, Presentations, Press
Release, Journals, Paid Databases, and A2Z Market
Research database
Primary: Demand &and Supply Side Experts
Primary: Demand and Supply Side Experts
Secondary: Company Websites, Press Releases, and
News Articles
Top-Down Approach (SegmentalAnalysis) Global Market
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īˇ To analyze competitive developments, such as mergers and acquisitions, new product
developments, and Research and Development (R&D) activities, in the market
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Market Overview
Market Synopsis
The term "customer engagement" refers to the interaction between a company and its clientele.
They employ a variety of techniques to attract new clients and retain existing ones. Software that
manages customization for marketing, support, web chat, and omnichannel is one type of customer
interaction software available. This response has wide-ranging applications for boosting
productivity in the workplace, creating employee-engagement tools, and automating routine
processes.
Business conversations and interactions that employ various strategies to attract and retain clients
are known as customer engagement solutions. Software that manages individualization in
marketing, support, web chat, omni-channel, and other areas are also available as customer
engagement alternatives. Numerous applications exist for this solution, such as task automation,
making the most of your staff, and collaborative application development.
The expansion of e-commerce and m-commerce has led to an increase in the demand for customer
engagement solutions, which in turn has led to a rise in the number of businesses offering such
services. The need to boost multichannel consumer engagement is also driving the market for
customer interaction solutions. However, the need for data synchronization between customer
engagement solutions systems, customer engagement solutions, and other technologies is restricting
the market's growth. Reason being: keeping information private and secure. The customer
engagement solutions market, on the other hand, is expected to expand in the coming years thanks
to increased investment in AI-based customer service tools.
Request Sample Copy of Report âGlobal Customer Engagement Solutions Market Size, Share &
Trends Estimation Report By Type Outlook (Cloud & On-Premises) By Application Type Outlook
(BFSI, Telecom and IT, Retail and Consumer Goods, Media and Entertainment & Other End-user
Industries) By Component Outlook (Solution & Services) By Verticals Type Outlook ( Banking,
Finance services, and Insurance (BFSI),Healthcare and Life Sciences,Telecom and
IT,Automotive,Transportation and Logistics,Retail and Consumer Goods,Media and
Entertainment,Travel and Hospitality & Other Verticles (energy and utilities, and education)) By
Organization Type Outlook (Small & Medium Enterprises & Large Enterprise) Region, And
Forecasts, 2023 - 2030â, published by Contrive Datum Insights.
Key Market Updates:
īˇ Avaya, Inc. announced an expanded worldwide relationship with Microsoft Azure
in May 2022, providing businesses with even more options for enhancing
productivity and customer interaction at unprecedented levels of availability, agility,
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and scalability. Customers that prefer to have the most flexibility in installing in a
hybrid, public, or private cloud environment will be pleased to know that the Avaya
OneCloud portfolio will soon be accessible on Azure.
īˇ Calabrio, a firm that conducts research on client satisfaction, announced in June
2021 that its Workforce Engagement Management (WEM) application was now
available in the cloud and could be accessed through its Singaporean branches.
Companies from other parts of the world who are considering expanding into
Southeast Asia can use WEM's cloud services to help them satisfy the rising need
for cloud-first contact center solutions.
Regional Outlook:
North America is expected to have the fastest-growing market for customer engagement
solutions during the forecast period, expanding at a CAGR of 10.5%. Top software developers
in the African continent supply firms with a wide range of customer engagement solutions meant
to speedily address end-user concerns. In order to boost brand loyalty and reduce customer
attrition, these solutions give measurements and actionable insights that improve the whole
customer experience.
As an example, in June of 2020, Walgreens Boots Alliance Inc. stated that it would be
expanding its strategic alliance with Microsoft and Adobe to create a consumer insights platform
to deliver individualized healthcare and general retail products and services. Walgreens is able
to give each individual customer an individualized prescription service thanks to this
personalisation tool. Boots will also provide a new beauty experience for its consumers by
giving its beauty experts more autonomy in recommending products based on each customer's
unique needs.
Further, as a result of the massive transition toward digital transformation among businesses,
North America is a hub for the healthcare, IT & telecom, and energy & utility sectors. Examples
of such emerging technologies include machine learning and industrial automation. As
businesses across all industries undergo a digital transformation, new technologies like machine
learning and industrial automation are increasingly being put to use in North America's thriving
healthcare, IT & telecommunications, energy, and utilities markets.
Rising investments in the BFSI industry are expected to propel the Asia-Pacific market, which
currently accounts for the second highest revenue share, to significant revenue development in
the coming years. Digital adoption rates in India are more than double what they were in 2020,
making it one of the most rapidly expanding Fintech marketplaces. The Reserve Bank of India
(RBI) has established a new division to oversee the Fintech regulatory framework. The
expansion of the regional market's revenue is attributed, in part, to the officials' assurance that
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secure and cost-effective e-payment technology will always be accessible for the creation of a
"cashless" economy. The region's market is seeing revenue growth as a result of increased
demand for mobile engagement services including SMS, e-mail, and others. Greeting users with
a pushed notification or providing assistance is streamlined when you use a mobile app.
Through thoughtful and deliberate interactions with consumers, successful apps provide a
positive consumer experience through mobile engagement.
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Market Scope
On the basis of By Type, the market has been segmented as follows:
īˇ Cloud
īˇ On-Premises
On the basis of By Application, the market has been segmented as follows:
īˇ BFSI
īˇ Telecom and IT
īˇ Retail and Consumer Goods
īˇ Media and Entertainment
īˇ Other End-user Industries
On the basis of By Verticals, the market has been segmented as follows:
īˇ Banking, Finance services, and Insurance (BFSI)
īˇ Healthcare and Life Sciences
īˇ Telecom and IT
īˇ Automotive
īˇ Transportation and Logistics
īˇ Retail and Consumer Goods
īˇ Media and Entertainment
īˇ Travel and Hospitality
īˇ Other Verticles (energy and utilities, and education)
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On the basis of By Component, the market has been segmented as follows:
īˇ Solution
o Omnichannel
o Workforce optimization
o Robotic process optimization
o Analytics and reporting
īˇ Services
o Professional services
ī§ Integration and deployment services
ī§ Support and maintenance services
ī§ Consulting services
o Managed services
On the basis of By Organization Size, the market has been segmented as follows:
īˇ Small and Medium-Sized Enterprises
īˇ Large Enterprises
On the basis of Companies
īˇ Avaya Inc.
īˇ Aspect Software Inc.
īˇ Calabrio Inc.
īˇ Genesys
īˇ IBM Corporation
īˇ Verint Systems Inc
īˇ Nice Systems
īˇ Nuance Communications Inc.
īˇ OpenText Corporation
īˇ Oracle Corporation
īˇ and Pegasystems Inc.
īˇ Microsoft
īˇ SAP
On the basis of Geography
īˇ NORTH AMERICA
īˇ EUROPE
īˇ ASIA PACIFIC
īˇ MIDDLE EAST AFRICA
īˇ SOUTH AMERICA
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