Service Quality Management (SQM) worth $2.1 Billion & Telco Customer Experience Management (CEM) Market worth $2.3 Billion by 2019, According to a New Study on ASDReports

Thursday 4 September 2014, Amsterdam

The report, now available on ASDReports, “Service Quality Management (SQM) and Telco Customer Experience Management (CEM) Market by Product Type (EFM, Web Analytics, Text Analytics, Speech Analytics), & by Provider Type (ISP, TSP, MSP) - Global Advancements, Worldwide Forecasts & Analysis (2014-2019)” defines and segments the SQM and CEM market into various sub-segments with an in-depth analysis and forecasting of revenues. The report also identifies the factors driving this market, various restraints and opportunities impacting it, along with the technology roadmap and adoption trends.

The Telco CEM market will grow from $1.6 billion in 2014 to $2.3 billion by 2019 and the SQM market will grow from $1.5 billion in 2014 to $2.1 billion by 2019, at a CAGR of 7.41% and 6.69%, respectively, during the forecast period.

The new report broadly segments the SQM and Telco CEM market by analytic types: enterprise feedback management, text analytics, web analytics, speech analytics, and others; by touch points: company website, branch/store, the web, and mobile and social media; by end users: small and medium businesses and enterprises; and by regions: North America (NA), Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and Latin America (LA).

CEM is a necessary mechanism for gaining competitive advantage in the market. Organizations implement CEM to improve and upgrade their level of customer service. There are different tools and techniques that are used in the CEM process. The advancements in Internet technology and usage patterns have compelled organizations to manage traditional as well as introduce new and innovative customer channels. Traditional methods of customer interaction include retail outlets and sales representatives, whereas some of the emerging customer channels are social media, mobile phones, e-mails, and blog websites. These channels focus on business organizations and help in identifying gaps and developing optimized VAS in products and services based on the customer demand and customer feedback. VAS acts as a critical factor in acquiring and retaining customers as well as in enhancing the customer lifetime value.