The Customer Self-Service Software Market Is Expected To Grow At A More Than 21% Rate Through 2023-2027 As Per The Business Research Company's Customer Self Service Software Global Market Report 2023
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
LONDON, March 21, 2023 (GLOBE NEWSWIRE) -- The Business Research Company’s research on the customer self-service software market forecasts the global customer self-service software market size to grow from $12.9 billion in 2022 to $15.79 billion in 2023 at a compound annual growth rate (CAGR) of 22.4%. The customer self-service software market size is expected to grow to $34.35 billion in 2027 at a CAGR of 21.4%.
The increased accessibility of customer service touchpoints is expected to propel the customer self-service software market forward in the coming years. Customer service touchpoints are real-time interactions with an organization's employee, a website, an application, or an advertisement to improve a customer's purchasing and problem-solving processes related to a product or service in order to maximize the customer experience. Customers' requests for instant solutions to their problems, rather than searching the web or waiting on the phone, are prompting major corporations to implement customer self-service software. For instance, in 2022, according to Emplify Inc., a US-based company operating in software-as-a-Service, approximately 52% of customers expect brands to respond within one hour, and 75% of customers think it's important for an organization to have a fully self-service customer care option. Therefore, the rising accessibility of customer service touchpoints is expected to propel the growth of the customer self-service software market.
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The key trend that is gaining traction in the customer self-service software market is technological advancement. Major market players are concentrating their efforts on developing advanced products that will provide better solutions and strengthen their market position. For instance, in December 2021, Wolken Software, a US-based company operating in self-service customer software for extraordinary customer experiences, introduced its customer self-service tool integrated with cloud computing and omnichannel technologies known as Wolken Care. Wolken Care provides the organization with superior customer service to their customers in several sectors such as automotive, semiconductor, manufacturing, and others by using a cloud-native SaaS application that enables enterprises to operate without assistance and eliminate overhead costs associated with coding operations. The solution intends to assist these firms by providing them with a top-notch, feature-rich service desk at a reduced cost for both their internal and external clients.
Major players in the customer self-service software market are Oracle Corporation, Salesforce Inc., SAP SE, Microsoft Corporation, BMC Software Inc., Verint System, Zendesk Inc., Nuance Communications Inc., Zoho Corporation Private Limited, Avaya Holdings Corp, HappyFox Technologies LLP, Aspect Software Inc., Zappix Inc., Freshworks Inc., AnswerDash, GoTo(LogMeIn Inc), SolarWinds MSP UK Ltd., Moxie Software Solutions India Private Limited, Software Advice, Creative Virtual Private Limited, eGain Corporation, Nanorep Technologies Ltd., SugarCRM Inc., Inbenta Holdings Inc., and Aptean Asia-Pacific Ltd.
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North America was the largest region in the customer self-service software market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the customer self-service software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The global customer self-service software market is segmented by offering into solution, service; by deployment into cloud, on-premise; by end-user industry into BFSI, healthcare, retail, government, IT and telecommunication, other end-user industries.
Customer Self Service Software Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2032 by The Business Research Company provides insights and customer self-service software market outlook on the customer self-service software market size, customer self-service software market segments, customer self-service software market trends, drivers and restraints, customer self-service software industry major competitors’ market positioning, revenues and customer self-service software market share.
The Business Research Company has published over 3,000+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
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