Europe Customer Self-service Software Market By Component (Solution and Services), By Deployment Type (Cloud and On-premise), By End User (BFSI, Retail & Consumer Goods, Government & Defense, Healthcare, Telecom & IT, Manufacturing and Others), By Country, Industry Analysis and Forecast, 2020 - 2026
The Europe Customer Self-Service Software Market would witness market growth of 23.3% CAGR during the forecast period (2020-2026).
The software is intended to permit customers to acquire responses to their queries with the help of an automated interview. Such a method assists in improving the degree of user experience and making sure an effective service in comparison to the traditional search-based approach. Self-service solutions are mainly created with a user-centric platform method so that data can be assessed by users from any place and anytime is expected to drive the growth of the market. On the contrary, the majority of small and medium-sized companies are striving to reduce the cost of the contact center. Customer self-service software can significantly assist these companies in restraining these costs while concentrating on increasing the gross profit.
Companies are aggressively installing customer self-services software to bolster their reach to the customers and provide them support on a 24*7 basis. Customer self-service software solutions permit enterprises to fulfil the ever-changing needs of their customers effectively, hence rising the degree of customer satisfaction and supporting the retention of the customer. In addition to managing customer relationships, customer self-service software can also assist companies in managing relationships of the employee. This will help enterprises to significantly reduce the expenses for procuring customer relationship management and employee relationship management software. These are a few significant components that are anticipated to boost market development over the forecast period.
The threats related to data breaches from a third-party vendor could lead companies to reconsider their investments in Self Service solutions as, it puts the customer data on risk of sharing to other companies. The economic slowdown emerging from the outbreak of the COVID-19 pandemic is anticipated to generate strategic change buying criteria of enterprises, as organizations have begun prioritizing business stability while putting new investments instead of investing in new services and solutions. This is also anticipated to hamper the market growth over the forecast period.
Based on Component, the market is segmented into Solution and Services. Solution segment is further bifurcated across Web Self-service, Mobile Self-service, Intelligent Virtual Assistants, Social Media & Community Self-service, Email Management, and Others. Services segment is further segmented into Professional Services and Managed Services. Based on Deployment Type, the market is segmented into Cloud and On-premise. Based on End User, the market is segmented into BFSI, Retail & Consumer Goods, Government & Defense, Healthcare, Telecom & IT, Manufacturing and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Microsoft Corporation, Nuance Communications, Inc., Oracle Corporation, SAP SE, Salesforce.com, Inc., Avaya Holdings Corporation, Verint Systems, Inc., Zendesk, Inc., BMC Software, Inc. (KKR & Co., Inc.) and Aspect Software, Inc. (Vector Capital)
Scope of the Study