In a recently published report, Customer Self-Service Software Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Customer Self-Service Software Market products.
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Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further.
Customer Self-Service Software Market to reach USD 18.14 billion by 2025.Customer Self-Service Software Market is valued approximately USD 5.2 billion in 2017 and is anticipated to grow with a healthy growth rate of more than 16.9% over the forecast period 2018-2025. The growing need of businesses to enhance their customer experience is the major factor which is driving the growth in the Global Customer Self-Service Software Market. The growing acceptance of customer self-service software solutions by consumers to improve satisfaction level and loyalty is also boosting the growth. Additionally, the increasing presence of a huge number of customer touch points is expected to escalate the growth in the near future. Organizations are focusing to know the behavior of their customers to improve their services.
In the statistics by Eurostat, the total value of the ICT sector including manufacturing and services of ICT in Europe, was estimated to be more than EUR 475 billion in the year 2017. Out of these, the ICT services sector accounted for the largest share. Moreover, the ICT services sector is predicted to be ten times larger than that of ICT manufacturing. On the other hand, the ICT services consist of computer programming, consultancy and related activities, along with telecommunication activities, out of which the former held about 49.1% share while the latter held around 30.3% share in the year 2017. These factors are estimated to impact positively towards the growth of the market in the next few years. According to the statistics by GSMA Intelligence, total cellular connections worldwide as of May 2020 was recorded to 10,18 billion.
As per the Eurostat, the total value of the ICT sector in Europe, including the ICT manufacturing and ICT services, was estimated to be more than EUR 475 billion in 2017. In this sector, the ICT services account for the major share as it is predicted to be ten times larger than the share held by ICT manufacturing. ICT services consist of computer programming, consultancy and related activities which held about 49.1% share while the telecommunications activities held around 30.3% share in the segment in 2017. These factors are estimated to impact the market growth in a positive manner in the next few years.
Besides this, rising implementation of automated software solution by large number of small and medium-sized businesses across the world is likely to fuel the growth of the market. Furthermore, the incorporation of customer self-service software with big data, artificial intelligence, and business intelligence is estimated to create lucrative opportunities for the global market in the coming future. However, increasing adoption of customer self-service solution may result in reduced engagement and personal interaction of companies with their consumers, which is expected to slow down the market growth over the forecast period. In addition, the slow adoption rate of customer self-service tool in some of the regions and lack of consciousness among organizations about its advantages is likely to restrict the market growth.
The regional analysis of Customer Self-Service Software Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. In region such as Asia-Pacific, Middle-East and Africa, rise in usage of passenger vehicles set the growth in Customer Self-Service Software Market over the forecasted period 2018-2025. Asia-Pacific is estimated to hold a prominent share of the Customer Self-Service Software market. Developing countries, such as India and China, are significant players boosting the demand for the Customer Self-Service Software Market. Europe, North America and the Middle East and Africa are continuously witnessing infrastructural growth which fueling the demand of Customer Self-Service Software Market over the coming years. Asia Pacific region is contributing towards the growth of global Customer Self-Service Software Market and anticipated to exhibit higher growth rate / CAGR over the forecast period 2018-2025.
The objective of the study is to define market size of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Solution
*Web Self-Service
*Mobile self-service
*Intelligent virtual assistants
*Social media & community self-service
*Email management
*IVR & ITR
*Others
By Service
*Professional Services
*Managed services
By Vertical
*BFSI
*Manufacturing
*Retail & e-commerce
*Education
*Media & entertainment
*It & telecommunication
*Healthcare & life sciences
*Transportation & logistics
*Utilities
*Others
By Regions:
*North America
**U.S.
**Canada
*Europe
**UK
**Germany
*Asia Pacific
**China
**India
**Japan
*Latin America
**Brazil
**Mexico
*Rest of the World
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Furthermore, years considered for the study are as follows:
Historical year – 2015, 2016
Base year – 2017
Forecast period – 2018 to 2025
The leading Market players mainly include-
*Microsoft Corporation
*Nuance Communications, Inc.
*Oracle Corporation
*SAP SE
*Salesforce.Com, Inc.
*Aspect Software, Inc.
*Avaya, Inc.
*BMC Software, Inc.
*Verint Systems, Inc.
*Zendesk, Inc.
*Answerdash, Inc.
*Aptean Corporation
*Creative Virtual
*Egain Corporation
*Freshdesk, Inc.
*Happyfox, Inc.
Target Audience of the Customer Self-Service Software Market in Market Study:
*Key Consulting Companies & Advisors
*Large, medium-sized, and small enterprises
*Venture capitalists
*Value-Added Resellers (VARs)
*Third-party knowledge providers
*Investment bankers
*Investors
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TABLE OF CONTENTS
Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Key Trends
1.3. Global & Segmental Market Estimates & Forecasts, 2015-2025 (USD Billion)
1.3.1. Customer Self-Service Software, by Solution, 2015-2025 (USD Billion)
1.3.2. Customer Self-Service Software, by Service, 2015-2025 (USD Billion)
1.3.3. Customer Self-Service Software, by Vertical, 2015-2025 (USD Billion)
1.3.4. Customer Self-Service Software, by Region, 2015-2025 (USD Billion)
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Customer Self-Service Software Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Customer Self-Service Software Market Dynamics
3.1. See Saw Analysis
3.1.1. Market Drivers
3.1.2. Market Challenges
3.1.3. Market Opportunities
Chapter 4. Customer Self-Service Software Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Buyers
4.1.2. Bargaining Power of Suppliers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model
4.2. PEST Analysis
4.2.1. Political Scenario
4.2.2. Economic Scenario
4.2.3. Social Scenario
4.2.4. Technological Scenario
4.3. Value Chain Analysis
4.3.1. Supplier
4.3.2. Manufacturers/Service Provider
4.3.3. Distributors
4.3.4. End-Users
4.4. Key Buying Criteria
4.5. Regulatory Framework
4.6. Cost Structure Analysis
4.6.1. Raw Material Cost Analysis
4.6.2. Manufacturing Cost Analysis
4.6.3. Labour Cost Analysis
4.7. Investment Vs Adoption Scenario
4.8. Analyst Recommendation & Conclusion
Chapter 5. Customer Self-Service Software, by Solution
5.1. Market Snapshot
5.2. Market Performance – Potential Model
5.3. Key Market Players
5.4. Customer Self-Service Software, Sub Segment Analysis
5.4.1. Web Self-Service
5.4.1.1. Market estimates & forecasts, 2015-2025 (USD Billion)
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