Global Conversational Customer Engagement Software Market: Introduction
Conversational customer engagement software is a substitute approach to ticket-based customer service, which uses the customer records and database and not the incident as the center of action. This facilitates omni-channel customer service which prioritize the tickets on the basis of identity and a history and enable customers to interact with and be identified by the software, using any channel at any time.
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Global Conversational Customer Engagement Software Market – Dynamics
Increasing Need for Customer Retention and Customer Satisfaction
The need for customer retention and customer satisfaction across industries around the globe has increased. Conversational customer engagement software enables human interaction and leverages automatic customer lookup and customer query with skills-based agent which helps in achieving customer satisfaction. This, in turn, is driving the global conversational customer engagement software market.
Improves Operational Efficiency
Conversational customer engagement software has reportedly increased the efficiency of companies. The ROI with respect to investment has increased with conversational customer engagement software. Adoption by SMEs and startups to handle queries via advance digital technology has also increased, which is driving the growth of the conversational customer engagement software market.
System Downtime at the time of Integration
Integration of conversational customer engagement software within an enterprise is expected to hamper the workflow system for short term period . This is because regions such as Asia Pacific, Middle East & Africa, and South America still use the conventional or traditional system to co-ordinate with their customers. The deployment of conversational customer engagement software will impact the revenue for the short term and this would indirectly impact the demand for conversational customer engagement software.
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North America Expected to Dominate the Global Conversational Customer Engagement Software Market
In terms of region, the global conversational customer engagement software market can be divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America is expected to dominate the global conversational customer engagement software market during the forecast period, due to availability of low-cost labor in the region.
COVID-19 Impact on the Global Conversational Customer Engagement Software Market
The COVID-19 pandemic is expected to adversely impact the global conversational customer engagement software market for a short-term period. This is because the demand for products and services has reduced drastically, due to lockdown. This, in turn, has resulted in decrease in customer queries and customer engagement processes.
Global Conversational Customer Engagement Software Market – Competition Landscape
- In April 2020, Conversocial announced a new platform combining AI and human agents in a single platform. Conversocial is empowering brands to deliver unique experiences, at scale, across the customer lifecycle. The new conversational customer experience platform has integrated four key capabilities which includes agent workspace, bots, notify, and insights.
Established in 2009, Conversocial is highly focused on integrating and simplifying the communication between a brand and its customer by combining human agents and bots in a single platform. In 2019, the company acquired Assist, a leading enterprise chatbot platform, providing its customers with an advanced, integrated experience across bot and human agents.
Global Conversational Customer Engagement Software Market: Segmentation
The global conversational customer engagement software market can be segmented based on:
Global Conversational Customer Engagement Software Market, by Deployment
Based on deployment, the global conversational customer engagement software market can be divided into:
Global Conversational Customer Engagement Software Market, by Industry
Based on industry, the global conversational customer engagement software market can be classified into:
- IT & Telecommunication
- Healthcare & Life Sciences
- Retail & Consumer Goods
- Media & Entertainment
- Government & Public
- Travel & Hospitality
Regional Analysis of Global Conversational Customer Engagement Software Market:
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
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