Global Customer Self-service Software Market by Solution (Social Media & Community Self-service, Web Self-service) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global customer self-service software market was valued at USD 7.12 Billion in 2019. It is projected to grow at a compound annual rate (CAGR of 22.1%) between 2020 and 2027. Market growth is expected to be driven by the strong emphasis that organizations place on providing instant information in their efforts to improve productivity and operational efficiency. This market growth is expected to be driven by the need to build better relationships with customers, and improve customer experience in order to retain existing customers and to attract new customers. Customers are increasingly looking for services that are efficient through multiple touchpoints such as smartphones or the internet. This is expected to drive enterprises to use self-service portals.

To increase their customer reach and provide support 24x7, organizations are actively deploying customer self service software. Enterprises can quickly respond to changing customer requirements and increase customer loyalty by using customer self-service software. Customer self-service software is not only useful for managing customer relationships but also helps organizations manage employee relationships. This allows enterprises to potentially reduce the cost of purchasing separate software for customer relation management as well as employee relationship management. These are the main factors expected to drive market growth over the forecast period.

There are many other factors that drive the demand for customer self service software. Many organizations are outsourcing client services to multiple contact centres. Organizations are increasingly relying on human interaction and the associated high costs. This is increasing their expenses and affecting client service quality. Organizations are seeking effective solutions such as customer self service software that can help reduce customer churn and avoid excessive costs. Organizations are also looking for ways to integrate customer self service software into their Customer Relationship Management (CRM), employee relationship management, and Customer Relationship Management platforms.

This software allows customers to get answers to their questions through an automated interview. This approach is more user-friendly and efficient than traditional search-based approaches. The market growth is expected to be boosted by self-service solutions that are user-centric and platform-based. This allows users to access data anywhere and at any time. However, small and medium-sized businesses are working hard to reduce their contact center costs. These organizations can use customer self-service software to reduce their expenses and increase their profit margins.

The market's growth will be impeded by a lack of awareness and hesitation from customers and employees to adopt self-service software. Many vendors of self-service software rely on third-party service providers to host their data. This means that any disruptions could have a negative impact on the business operations of those who use the self-service solution. As security breaches can occur in third-party servers and information systems, enterprises should consider whether they are able to invest in self-service options. This could put confidential customer data at risk. Due to the COVID-19 pandemic, the economic downturn is expected to cause a change in the buying habits of enterprises. Companies are now prioritizing stability and making new investments instead of investing in new solutions or services. This will also be expected to limit the market's growth over the forecast period.

Solution Insights

With a market share exceeding 20%, the web self-service segment led the market in 2019. The market can be further divided into web self-service and mobile self-service. Over the forecast period, the market for self-service tools that allow consumers and employees to provide relevant inputs to perform routine tasks via the internet will grow. Customers can enjoy seamless service across all channels with web self-service solutions.

Over the forecast period, significant growth is expected in the social media and community-self-service segments. The growth of social media and community-self-service will be driven by the increasing smartphone penetration and continued rollouts of high-speed Internet networks, as well as the growing preference for individuals to use social media channels to obtain information. Global organizations are undertaking a digital transformation. They are expanding the reach of their client services to include digital channels such as chat, virtual assistants, social media and chat. Remote working arrangements and worksite restrictions that were imposed to stop the COVID-19 pandemic are also driving the adoption and use of social media and community-self-service solutions. These allow customers and employees to easily access the information they need via social media channels.

Service Insights

With a market share exceeding 60%, the professional services segment dominated 2019. The demand for professional services will increase with the increasing adoption of analytics and AI (AI), in automation to improve the efficiency of the workforce. Professional services are available to help with the configuration and deployment of self-service solutions, both for cloud deployments and on-premise deployments. Over the forecast period, the market for professional services will be driven by the increasing demand from clients for capabilities such as project management and process excellence to maximize their return on investments. The market is further divided into professionals and managed services based on its service.

Clienteles can benefit from professional services to help them stay on track, focusing on their business results and ultimately improving operational efficiency. Market players place a lot of emphasis on providing professional services to their clients and helping them with self-service queries. Verint Systems, Inc., for instance, offers its clients the AdviceLine service. This service provides customers with fast guidance regarding the implementation of the solution as well as back-office operations.

Information on Deployment

With a market share exceeding 54%, the cloud segment dominated 2019's market. Cloud-based architectures can be used to facilitate data sharing across multiple functions. Organizations are focusing on modernizing customer engagement operations. The sudden increase in calls caused by the COVID-19 pandemic has put organizations under great pressure. They are now deploying AI-based virtual assistants to help their clients. Cloud-based virtual agents could potentially manage the same purposes as human agents. They can deliver a conversational experience and offer on-demand and instant services.

Over the forecast period, on-premise deployment is expected to experience significant growth. There are many benefits to on-premise deployment, including the ability to customize software according your clients' business processes. On-premise deployment allows customers to customize the software and gives them complete control. The on-premise segment is expected to slow down due to delays in purchasing self-service software. This is mainly due the extra time it takes to make arrangements on-site.

End-use Insights

With a market share exceeding 20%, the BFSI segment dominated 2019's market. The number of fintech startups is not declining. However, customers are gradually adopting a digital mindset which is helping to digitalize banking systems around the world. BFSI will see a rise in self-service solutions for managing finances. The market is further divided by end-use into manufacturing, BFSI and retail & ecommerce. Media & entertainment, IT & telecom, healthcare and government are some examples.

Self-service platforms such as ATMs, vending machine, and kiosks offered by financial institutions are on the rise. This is creating opportunities for new and established entrants. The rapid changes in the industry landscape are being experienced by financial institutions due to the continual introduction of new consumer technologies that help people save and invest money. BFSI is expected to grow due to the increasing preference for digital financial transactions, smart and personal customer service, and the focus of companies on creating self-service solutions that can meet all such needs. Salesforce.Com, Inc., for example, introduced Einstein Analytics in May 2019. This customizable analytics solution offers AI-enabled business Intelligence for wealth advisors and retail bankers.

Regional Insights

With a revenue share exceeding 32%, North America was the dominant market for customer self-service software in 2019. Major software vendors such as Verint Systems, Inc., Microsoft Corporation, Avaya Inc., Salesforce.Com, Inc., and Nuance Communications, Inc. are located in the region. The region's growth is driven by the growing popularity of social media and the increasing demand for self-service solutions that can be deployed in the cloud. Opportunities are expected to arise in the region market due to various benefits such as real-time information access and software solutions.

North American enterprises are placing a strong emphasis on making informed business decisions and accessing real-time information to make timely and informed business decisions. This will drive demand for self-service services in the region. The overall call volume at contact centers has been increasing significantly since the COVID-19 pandemic. To provide automated support for customers, contact centers in the region have deployed AI-based and machine-learning-based self-service software. This will open up significant opportunities for market players in the region.

Market Share Insights & Key Companies

To stay competitive, market players pursue various growth strategies including mergers and acquisitions, strategic alliances and collaborations and new product development. In August 2019, Salesforce.Com, Inc. bought Tableau Software, Inc., which is a provider of self service analytics platforms. Salesforce.Com, Inc. would be able to increase its self-service offerings with this acquisition. In January 2019, SAP SE acquired Qualtrics International Inc. (a provider of experience management technology). SAP SE plans to leverage the acquisition to provide brand, customer and employee experiences to businesses.

Market vendors invest aggressively in research-and-development activities to develop new technologies or upgrade existing offerings. Avaya Inc., for example, invested USD 204 millions in research and development in 2019 in order to develop flexible, secure, mobile- and cloud-enabled solutions. The following are some of the major players in the global customer self service software market:

• Avaya Inc.

• BMC Software, Inc.

• HappyFox Inc.

• Microsoft Corporation

• Nuance Communications, Inc.

• Oracle Corporation

• Salesforce.Com, Inc.

• SAP SE

• Verint Systems Inc.

• Zendesk, Inc.

Up Market Research published a new report titled “Customer Self-service Software Market research report which is segmented by Solution (Social Media & Community Self-service, Web Self-service), By Players/Companies Zendesk Inc, SAP SE, BMC Software Inc, Microsoft Corporation, Oracle Corporation, Verint Systems Inc, Nuance Communications Inc, HappyFox Inc, Avaya Inc, SalesforceCom Inc”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Customer Self-service Software Market Report Segments:

The market is segmented by Solution (Social Media & Community Self-service, Web Self-service).

Customer Self-service Software Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Customer Self-service Software Market

Overview of the regional outlook of the Customer Self-service Software Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Customer Self-service Software Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Customer Self-service Software Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Social Media & Community Self-service

                2. Web Self-service

7. Market scenario by region, sub-region, and country.
8. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
9. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
10. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Customer Self-service Software Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

How you may use our products:

• Correctly Positioning New Products
• Market Entry Strategies
• Business Expansion Strategies
• Consumer Insights
• Understanding Competition Scenario
• Product & Brand Management
• Channel & Customer Management
• Identifying Appropriate Advertising Appeals

Reasons to Purchase the Customer Self-service Software Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.