Customer Experience Management in North America, Forecast to 2029 Updated Research Available

Over the course of the projection period, the market for CX management is expected to expand. This is mostly due to two factors: 1) the growing recognition of CX as a potent tool for competitive advantage, and 2) the increasing motivation for businesses to outsource their CX activities.

This market is poised for disruption due to the emergence of generative AI technology. The high potential of this technology will drastically elevate the productivity level of agents and will allow companies to leverage self-service at a greater extent, increasingly without human intervention in many cases.

The impact will not be the same in the overall customer service landscape (including inhouse and outsource) than in the outsourcing industry, as an increasing number of organizations will outsource more due to the increasing complexity of running CX operations, which will provide a positive push to service providers´ growth rates.

Frost & Sullivan expects than Gen AI will have a negative impact in the number of FTE, but this will be compensated by new types of customer interactions, which will require the re-skilling of contact center agents.

Companies are expecting continuous process enhancement and rapid and constant innovation. As organizations must adapt to changing market conditions, they are looking to partner with nimble CX management providers to speed up the time to market. The right mix of people, processes, and technology is the key to success and will help providers bring reliable and agile transformation capabilities to their clients.

As more customer interactions continue to be automated, calls that reach live agents grow in complexity. This is leading to an increase in AHT (Average Handle Time). Companies are trying to improve agent productivity by providing the right tools and support, such as real-time recommendations, next-best-thing suggestions, and intelligent routing.

Many companies see contact centers as a profit center that opens up new opportunities for cross- and up-selling. Companies also realize that conversion is exceptionally high when they harness the natural touchpoints customers have with them (e.g., at contract renewal junctures or during billing cycles), typically involving the contact center. Therefore, contact centers are becoming an essential element of an effective revenue growth strategy.

This report provides a detailed assessment of the customer experience management market in North America, providing market shares, segmentations, and forecasts for several variables such as number of full-time employees, fulfillment region, industry vertical, born digital vs. traditional companies, channel of contact, and service function. The base year of this study is 2023 and forecasts reach to 2029.

Author: Sebastian Menutti