Story image

Customer self-service software market worth nearly $10b USD by 2021

03 Feb 2017

There are a number of markets that are set to skyrocket with the digital revolution – none more so than customer self-service software.

A new market research report (Customer Self-Service Software Market by Solution, Service, Deployment Type, Vertical, and Region – Global Forecast to 2021) that was published by MarketsandMarkets has made some interesting findings.

The study included major vendors like Microsoft Corporation, Nuance Communications, Inc., Oracle Corporation, SAP SE, Salesforce.com, Inc., Aspect Software, Avaya, Inc., BMC Software, Verint Systems, Inc., and Zendesk, Inc.

The market size is expected to grow from USD $4.33 billion to a whopping USD $9.38 billion in 2021, at a Compound Annual Growth Rate (CAGR) of 16.7 percent during the forecast period.

There are various major drivers of this market, including the increasing need among companies to improve their overall customer experience, increasing availability of various customer touchpoints, and beneficial features of self-service technologies such as increase in productivity and reduction in operational costs.

Social media & community self-service is expected to be the most promising solution during the forecast period

Among the various solutions, this is projected to grow at the highest CAGR during the forecast period.

The reason being that social media is an apt platform through which companies can better connect with their customers, create a better brand value, and also analyse the perception about their offerings among the customers. It’s here where the peer-to-peer support community software helps in engaging, supporting and managing the online customer community by identifying their issues and resolving them instantly.

During the forecast period, professional services are expected to hold major market share

The major share of the Customer Self-Service Software market is commanded by professional services, and that isn’t expected to change over the forecast period.

These include services such as planning, designing, integration, implementation, deployment, consulting, training and support services necessary for successful implementation and support of customer self-service platforms or solutions. The whole concept of customer self-service is still gaining traction, which is why professional services command the bulk of the market share.

EXCLUSIVE: Forcepoint global channel chief talks strategy
As a solution sold 100% via the channel, cybersecurity solutions company Forcepoint places a strong emphasis on its partner relationships.
Gold Coast launches Australia’s largest city LoRaWAN network
The network is being made available for commercial use and the deployment of wide-ranging IoT applications.
Leopard Systems win dual Zebra Tech partner awards
Leopard Systems was recognised as Zebra’s highest performing APAC Partner Of The Year and APAC Service Partner Of The Year.
IDC: Semiconductor market declines after three years of growth
However, it says that semiconductor revenues will recover in 2020 and log a compound annual growth rate (CAGR) of 2.0% from 2018-2023.
D-Link hooks up with Alexa and Assistant with new smart camera
The new camera is designed for outdoor use within a wireless smart home network.
Virtustream launches new services for cloud applications
The new suite of professional and managed services expands Virtustream’s enterprise application and services solutions.
Secureworks Magic Quadrant Leader for Security Services
This is the 11th time Secureworks has been positioned as a Leader in the Gartner Magic Quadrant for Managed Security Services, Worldwide.
Datto expands A/NZ presence with Sydney office
This investment will enable Datto and its partners to continue to grow and address the IT needs of small and medium businesses (SMBs) in the region.