Service Quality Management (SQM) And Telco Customer Experience Management (CEM) Market Forecast 2024-2033: Projected CAG
Posted by ramtbrc on May 13th, 2024
Overview and Scope
Service quality management (SQM) is the systematic process of monitoring, evaluating, and enhancing the quality of services offered by a telecom company, while telco customer experience management (CEM) focuses on understanding, analyzing, and improving the overall satisfaction and perception of customers with the telecom services provided. SQM and telco CEM are essential components of a comprehensive customer-centric strategy aimed at delivering value and building lasting relationships with customers.
Sizing and Forecast
The service quality management (SQM) and telco customer experience management (CEM) market size has grown rapidly in recent years. It will grow from .63 billion in 2023 to .22 billion in 2024 at a compound annual growth rate (CAGR) of 12.7%. The growth in the historic period can be attributed to increasing usage of mobile applications, growing customer interactions in the BFSI sector, expansion of IoT connections, focus on customer compatibility issues, rising call center touchpoint interactions by end-users.
The service quality management (SQM) and telco customer experience management (CEM) market size is expected to see rapid growth in the next few years. It will grow to .49 billion in 2028 at a compound annual growth rate (CAGR) of 12.9%. The growth in the forecast period can be attributed to expected rise in mobile operator services, growing demand for technical support solutions, expansion of cloud-based solutions for cost-effectiveness, adoption of open APIs for network capabilities, focus on fault and event management. Major trends in the forecast period include integration of emerging technologies, AI-driven personalization, automation and self-service solutions, enhanced data analytics capabilities, focus on proactive customer engagement.
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Segmentation & Regional Insights
The service quality management (SQM) and telco customer experience management (CEM) market covered in this report is segmented –
1) By Product Type: Enterprise Feedback Management (EFM), Text Analytics, Speech Analytics, Web Analytics
2) By Support System: Internet Service Providers (ISP), Managed Service Providers (MSP), Telecom Service Providers (TSP)
3) By Channel: Company website, Web, Call Mobile, Centre, Branch, Social Media
4) By End Users: Small And Medium Businesses, Enterprises
North America was the largest region in the service quality management (SQM) and telco customer experience management (CEM) market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the service quality management (SQM) and telco customer experience management (CEM) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The growing adoption of cloud-based solutions is expected to propel the growth of the service quality management (SQM) and telco customer experience management (CEM) market going forward. Cloud-based solutions refer to software or services that are hosted and accessed over the Internet, rather than being installed and run on local computers or servers. Cloud-based solution adoption is rising due to its scalability, flexibility, and cost-effectiveness for businesses of all sizes. Cloud solutions enhance service quality management and telco customer experience management by providing real-time data analysis, automation, and agile infrastructure for improved responsiveness and personalized service delivery. For instance, in March 2024, according to a survey of 753 respondents worldwide conducted by Flexera, a US-based software company, over a quarter of respondents (29%) invested more than million annually in cloud services, with a similar percentage (22%) spending the same amount on Software as a Service (SaaS). Respondents saw a slight increase in multi-cloud usage by organizations, up from 87% in 2022 to 89% in 2023. Additionally, 61% of large enterprises utilized multi-cloud security measures, while 57% implemented multi-cloud FinOps tools for cost optimization. Therefore, the growing adoption of cloud-based solutions is driving the growth of the service quality management (SQM) and telco customer experience management (CEM) market.
Key Industry Players
Major companies operating in the service quality management (SQM) and telco customer experience management (CEM) market are Huawei Technologies Co. Ltd., Accenture PLC, The International Business Machines Corporation, Cisco Systems Inc., Oracle Corporation, SAP SE, The Hewlett Packard Enterprise Company, Nokia Corporation , Telefonaktiebolaget LM Ericsson, NEC Corporation, Capgemini SE, Adobe Inc., Tech Mahindra Ltd., Amdocs Limited, Ciena Corporation, SAS Institute, Genesys Cloud Services Inc., CSG International, Verint Systems, Calix Inc., Medallia Inc., Spirent Communications PLC, Comarch SA, InfoVista SAS, Comviva, Radisys Corporation, Aria Systems Inc.
The service quality management (sqm) and telco customer experience management (cem) market report table of contents includes:
1. Executive Summary
2. Service Quality Management (SQM) And Telco Customer Experience Management (CEM) Market Characteristics
3. Service Quality Management (SQM) And Telco Customer Experience Management (CEM) Market Trends And Strategies
4. Service Quality Management (SQM) And Telco Customer Experience Management (CEM) Market - Macro Economic Scenario
5. Global Service Quality Management (SQM) And Telco Customer Experience Management (CEM) Market Size and Growth
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32. Global Service Quality Management (SQM) And Telco Customer Experience Management (CEM) Market Competitive Benchmarking
33. Global Service Quality Management (SQM) And Telco Customer Experience Management (CEM) Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Service Quality Management (SQM) And Telco Customer Experience Management (CEM) Market
35. Service Quality Management (SQM) And Telco Customer Experience Management (CEM) Market Future Outlook and Potential Analysis
36. Appendix
