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. Customers will appreciate having their products or services delivered to them with ease. One major aspect of a successful sales process is a customer success platform that houses all of the necessary information on any given campaign.
Marketsandmarkets.com recently published market research on Customer Success Platforms and the forecast for these platforms over the next four years. Some of the main points that are discussed in this market report are the growth rate of this market and how much the market is going to be worth four years from now. The market size is set to grow from 1 billion USD in 2020 to 2.5 billion USD in 2025. The customer success platform market is expected to have a compound annual growth rate (CAGR) of 20.4% during this time.
Some of the major factors that will drive this growth are:
- The advent of cloud computing in customer success.
- The growing demand for advanced analytical-based solutions to monitor customer scores.
- The increase in data volume due to the growing digitalization of the market.
Another thing that will increase the growth rate is the emergence of AI and ML to better monitor 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.
This report breaks down the Customer Success Platforms into two separate segments:
- Platforms – the actual place where customer success lives online.
- Services – the action being performed to get the information on the platform.
The services are segmented to grow at higher rates during the forecast period. They also play a vital role in the functioning of these platforms, as vendors may require support and consulting to manage the effective deployment of these platforms. The services ensure faster and smoother implementation 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.
Check out the market report on Customer Success Platforms on marketandmarkets.com for more information on the present and future of these essential platforms for a successful business.