Complaint Management Software Market Expected to Witness Sustainable Growth Over 2026
An increase in the need to streamline complaint management operations is expected to impact the growth of the global complaint management software market.
PORTLAND, PORTLAND, OR, UNITED STATES, June 28, 2023/EINPresswire.com/ — According to the report published by Allied Market Research, the global complaint management software market was estimated at $1.93 billion in 2018 and is expected to hit $8.28 billion by 2026, registering a CAGR of 11.2% from 2019 to 2026. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and changing market trends.
The rise in the need to protect brand reputation and elevate consumer satisfaction, the surge in requirement for automated workflow, and the enactment of consumer-centric stratagems fuel the growth of the global complaint management software market. On the other hand, inadequate insights into consumer complaints curb the growth to some extent. However, the assimilation of novel technologies including AI and NLP is expected to create multiple opportunities in the near future.
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By component, the software segment contributed to more than three-fifths of the total market share in 2018, and is expected to rule the roost by 2026. The services segment, on the other hand, is anticipated to portray the fastest CAGR of 12.4% throughout the forecast period.
By type, the integrated segment accounted for nearly three-fourths of the total market revenue in 2018, and is projected to lead the trail from 2019 to 2026. The same segment is also predicted to grow at the fastest CAGR of 12.6% during the estimated period. The standalone segment is also analyzed in the report.
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By geography, North America garnered the highest market share in 2018, holding nearly two-fifths of the global market. Simultaneously, Asia-Pacific would manifest the fastest CAGR of 12.4% by 2026. The other regions assessed through the report include Europe and LAMEA.
The key market players analyzed in the global complaint management software market report include Equiniti, ETQ, LLC, Freshworks Inc., Sparta Systems, Inc., Zoho Corporation Pvt. Ltd., MasterControl, Inc., AssurX, Inc., Oracle Corporation, Quantivate, LLC., Salesforce.com, Inc., and Zendesk, Inc. These market players have incorporated different strategies including partnership, expansion, collaboration, joint ventures, and others to heighten their status in the industry.
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Key Benefits for Complaint Management Software Market:
• This study includes the analytical depiction of the global complaint management software market forecast and trends to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities.
• The current complaint management software market size is quantitatively analyzed from 2018 to 2026 to highlight the financial competency of the industry.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the complaint management software industry.
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