The Global Market for Customer Experience Monitoring is Projected to Reach US$2.5 Billion by 2020

Growing Customer Churn Rate Fuels Growth in the Customer Experience Monitoring Market, According to a New Report by Global Industry Analysts, Inc.

GIA announces the release of a comprehensive global report on Customer Experience Monitoring. The global market for Customer Experience Monitoring is projected to reach US$2.5 billion by 2020, driven by stiff competition among service providers, falling customer loyalty, and growing customer churn rate.

Customers worldwide are showing preference to spend on products and services that provide better experience. Growing competition in various business fields is ensuring a plethora of options for customers to choose from, resulting in little hesitation to move to competitor brands if quality of the service or product is seen as inadequate. Consequently, enterprises worldwide are increasingly investing in processes and tools that enable them to monitor customer experiences related to their products and services. Customer Experience Monitoring is a collection of processes and solutions that are used by companies for tracking, and organizing their interactions with customers. Customer Experience Monitoring provides insight into customers’ experiences by evaluating service interactions with the focus on achieving and exceeding customer expectations.

Evolving consumer requirements, technological advancements and growing device diversity are presenting a rich mixture of opportunities and challenges for service providers in the telecom industry. Growing competition is resulting in stiff price wars and significant customer churn rates. Commoditization of conventional services such as SMS and voice are forcing service providers to seek new streams for growth in average revenue per user (ARPU). Emergence of various new connected devices and growing popularity of high-bandwidth applications are together exerting significant pressure on mobile networks and Quality of Service (QoS). This thereby requires continuous monitoring of customer experience of bandwidth and transmission services. Rising mobile broadband usage is leading to growing preference for better speeds, coverage and overall experience. These challenges have expanded the relevance of improving customer experience to retain existing customer base, acquire new customers, provide affordable and reliable services, and realize revenue growth. Network probes are the most commonly used customer experience monitoring solutions by wireless service operators for gaining insight into network performance and customer experience.

As stated by the new market research report on Customer Experience Monitoring, the United States represents the single largest market worldwide. Asia-Pacific is forecast to emerge as the fastest growing market with a projected CAGR of 13.2% over the analysis period.

Major players covered in the report include Aternity Inc., BMC Software Inc., CA Technologies, Inc., CorrelSense Ltd., Huawei Technologies Co., Ltd., Knoa Software Inc., Nokia Siemens Networks Oy, and Oracle Corporation among others.

The research report titled “Customer Experience Monitoring: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, drivers, company profiles, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections for Customer Experience Monitoring solutions in the mobile telecommunications industry in value (US$) for all major geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (Australia, China, India and Rest of Asia-Pacific), Latin America and Rest of World.