Customer Experience Management Market Project to Reach $6.61 Billion by 2017



According to a new market research report, “Customer Experience Management Market & Voice of Customer (VoC) Analytics Market - Worldwide Market Size and Forecasts (2012 – 2017),” published by MarketsandMarkets, the total CEM and VoC Analytics market is expected to reach $6.61 billion by 2017 with a CAGR of 19.8 percent.

North America holds the largest share: 47.6 percent of the overall customer experience management market in 2012 at $1.28 billion, and is expected to reach $2.98 billion by 2017, at a CAGR of 18.5 percent between 2012 and 2017.
 
CEM metrics are performance indicators which help to understand how the company is adopting different tools to accomplish customer needs. Companies rely on delighted customers to accomplish market growth while unhappy customers defect brand names and negatively impact business, the report said. A company that proactively plans for future growth should invest today to understand its customer experiences. CEM, with the ability to collect VOC and measure and report customer experience data, fills this gap effectively, according to the researchers.