Navigant: Global market for customer experience analytics to grow from $53M to $117M in 2028

Thursday June 6, 2019 0 comments Tags: Boulder, Navigant Research, Stuart Ravens, CX analytics

BOULDER -- The global market for customer experience (CX) analytics is expected to grow from $53 million in 2019 to $116.7 million in 2028.

A new report from Navigant Research discusses how competition, regulatory pressure, and ownership structures are significant drivers for adoption of customer experience (CX) analytics. The report provides global market forecasts, segmented by CX type and region, through 2028.NavigantNEWlogoUSE

“There is an incredible amount of uncertainty among utility incumbents about what products and services to develop for the future electricity customer,” said Stuart Ravens, Navigant principal research analyst.

“By investing in CX analytics and applying insights into business processes, utilities and electricity suppliers can make great strides to build products and services around customers’ future requirements and bring much needed clarity to future business model development.”

CX-leading companies report that their efforts have resulted in increased revenue and profit margins as well as improved customer loyalty and retention. As the Energy Cloud transition continues to unfold, bringing unprecedented disruption and complex new business models, addressing these issues will be critical to success, the report notes.

The report, Customer Experience Analytics, discusses how competition, regulatory pressure, and ownership structures have been significant drivers for adoption of CX analytics. The study analyzes the disruption that comes with the transition to the Energy Cloud, particularly in the shift of business models from energy supply to energy services.

Global market forecasts, segmented by CX type and region, extend through 2028. The report examines CX analytics opportunities and technology obstacles to bring much needed clarity to future business model development.

An Executive Summary of the report is available for free download on the Navigant Research website.