The global customer success platforms market is expected to grow from USD 840.21 million in 2018 to USD 2,742.37 million by 2026 at a CAGR of 26.44% during the forecast period from 2018-2026.
Global customer success platforms market is expected to reach USD 2,742.37 million by 2026, at a CAGR of 26.44% from 2018 to 2026. The customer success platform is an emerging technology, which addresses critical business issues by combining data from multiple sources, such as social media, email, websites, customer relationship management (CRM) systems, and various third-party websites. Providers in the market deliver such solutions as a comprehensive standalone platform or software based on various needs, such as customer onboarding, workflow management, and sales and marketing management. Vendors are leveraging customer success platforms to reduce churn, maximize customer satisfaction, and increase upselling and cross-selling to increase the market share in the global market during the forecast period.
Customer success software is used by businesses to ensure, interactions with the company, customers achieve the outcome that enterprises anticipate them to reach as they use the product. It often integrates with help desk software, CRM software, and social media management software tools. Factors such as advent of cloud computing in customer success, the increasing demand for advanced solutions to monitor customer scores and reduce churn, and rise in the data volume due to increased digitalization are expected to drive the adoption of customer success platforms solution and services. Moreover, increasing adoption of advanced technologies such as Artificial Intelligence (AI) and Machine Learning (ML), and increasing investments in customer success platform startups are anticipated to create ample opportunities for customer success platforms solution providers.