Global Customer Success Platforms Market

Customer Success Platforms Market: Insights

Customer Success Platforms offer a range of tools that help to ensure that consumers are presented with the results they need by using some type of service or product from a provider. The platform centralizes all the customer data into a 360-degree view. The rise of cloud computing, the need for innovative technologies to track customer ratings and minimize turnover, and thus the growth in data volume due to increased digitalization are supporting factors driving the market. The growing adoption and integration of advanced technologies including machine learning and Artificial Intelligence (AI) along with increasing investments in start-up customer success platforms are driving the market growth between 2021-2026. However, privacy and data security concerns are hampering the market growth for customer success platform. Data aggregation and synchronization from various tools is a challenge faced by the market.

Customer Success Platforms Market: By Component

Based on the component, the market is analyzed into platforms and services. During the forecast period, the services segment will occupy a major share and follow the trend. The services play a crucial role to support suppliers with technical services and consultancy services to manage the platform. The services segment ensure quicker and easier implementation that maximizes the value of investments in enterprises. As customer data is increasing, it is necessary to implement advanced technologies. The services segment is further classified into two main types: managed services and professional services. Service analytics help managers of customer service to monitor and evaluate key performance indicators (KPIs), such as best agent issue, agent performance assessment, average response time, and workload distribution.

Customer Success Platforms Market: By Application

The software finds its usages in different applications such as risk and compliance management, sales and marketing optimization, customer segmentation, reporting and analytics, customer service, and customer onboarding among others. Among all the applications, marketing and sales segment will occupy a major chunk of the market. Customer success platform registered a high growth rate and emerged as a key factor in optimizing sales and marketing. Visibility of the consumer activities is provided by the platforms, including their adoption trends, health scores, and onboarding status.

Customer Success Platforms Market: By Deployment Model

According to the GME analysis, the cloud segment is projected to be the largest growing segment. Organizations can avoid costs associated with the software, technical manpower, hardware, and storage by leveraging the cloud deployment model to deploy appropriate consumer success solutions. Furthermore, cloud-based customer success solutions are easy to maintain and upgrade and can collect the assessed results in one location across all data points, hence contributing to the development of this model.

Customer Success Platforms Market: By Region

Based on the regional analysis, the North American region holds the maximum share and generates huge revenue between 2021-2026. The growing implementation of new solutions among end-users in the region to track the journey of the customer are supporting the market growth. The key players such as Salesforce, Cisco, Bolstar, Amity, Hubspot, and Zoominfo among others are sharing the maximum market in the region. The advancement in cloud computing, the increase in data volume, and rapid digitalization are also pushing the market upwards. The major companies in the Asia Pacific region will implement customer success platforms to analyze customer’s perceptions and will be responsible for the fastest growth in the market. It is further expected that the increasing number of players across various regions will drive the market for customer success platforms.

Customer Success Platforms Market Share and Competitor Analysis

Strikedeck, Akita, Cisco, Wootric, ChurnZero, Intercom, SmartKarrot, Custify, Freshworks, ZoomInfo, Planhat, WalkMe, Amity, Clientshare, Salesforce, Catalyst, HubSpot, UserIQ,  Gainsight, AppsForOps, ClientSuccess, CustomerSuccessBox, Bolstra, Salesmachine, Armatic, Totango and Salesmachine among others are the major players sharing maximum revenue in the global market.

Please note: This is not an exhaustive list of companies profiled in the report.