Marketing

Customer Success Platforms Market Worth $2.5 Billion by 2025

CopyPress

Published: February 5, 2021 (Updated: November 1, 2022)

Customer success is one of the most important aspects of any business. Whether you sell products or services, it’s important that your sales process is one that leaves customers with a good sense of accomplishment. One major aspect of a successful sales process is a customer success platform that houses all of the necessary information on any given campaign.

With customer success platforms, businesses and e-commerce brands can better manage and track the buyers’ journey and customer satisfaction. Find out what the market research has to say about the growth in the customer success platform market.

The Growth of Customer Success Platforms

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Image via iStock by Andrei Askirka

Marketsandmarkets.com recently published market research on customer success platforms and the forecast for these over the next four years. This means the market size is set to jump from 1 billion USD in 2020 to 2.5 billion USD in 2025. On the other side, the report predicts the market to have a compound annual growth rate (CAGR) of 20.4% over the same time period. But could cause this growth? Here are a few of the leading factors:

  • Growth of cloud computing in customer success
  • More demand for advanced analytics-based solutions to track customer scores
  • Increases in data volume from the evolving e-commerce and online markets

Impacting Growth Rate

Another thing that’ll impact the growth rate is the development of AI and ML to better monitor and align with the customer journey. We may also see an increase in investments by startups that have identified growth opportunities for enterprises operating across several verticals in the customer success platform market. In the report, there are two separate segments: 

  • Platforms: the actual place where customer success lives online.
  • Services: the action being performed to get the information on the platform. 

According to the current forecasts, services are expected to grow at higher rates during the time period. They also play a vital role in the functioning of these platforms, as vendors may require support and consulting to use them at scale. Additionally, the services ensure faster and smoother integration so you can maximize the value of your investment.

These services also help companies plan and strategize their operations through design, implementation, adoption, and training. For more insights into the customer success platforms market, review the market report on Markets and Markets for more information on the present and future of these essential platforms for a successful business.

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