The customer experience management market is projected to grow to $16.91 billion by 2022, equivalent to a CAGR of 23.1%.

A new report from Report Buyer says the increased use of e-commerce has led to the adoption of customer experience management solutions that have helped streamline businesses and operational processes, thereby fueling the growth of the customer experience management market.

However, it says data synchronisation between customer experience management solutions and other technologies within organisations is restraining growth in some areas.

Based on touchpoint, the call center segment is estimated to account for the largest share of the customer experience management market in 2017. Call centers serve as key business differentiators whereby customers interact with customer care executives about their product usage experience and provide first-hand experience.

Based on vertical, the telecommunication service providers segment is estimated to account for the largest share of the customer experience management market in 2017. Telecom service providers are reaching out to subscribers through websites, call centers, social media, their applications, and others to judge the experience of the product offered. The telecom sector is a mature market place, where the pressing value proposition is customer loyalty.

North America is estimated to account for the largest share of the overall customer experience management market in 2017.