PALM

PALM BEACH, Fla., Aug. 16, 2021 /PRNewswire/ -- The Software as a Service (SaaS) Customer Engagement market is projected to grow significantly through 2026. Customer engagement software helps to manage customer communications and interactions throughout a variety of channels and touchpoints. Customer service is the main reason that empowers customers to exhibit brand loyalty, thus bringing continuous revenues to organizations across industries. As per a report from Aspects Software, 66% of consumers did more business with at least one company because of good customer service. Moreover, in 2018, 56% of consumers used AI for their customer service interactions at least once a week. With the increasing smartphone and internet usage, customers can easily access information about different products and services across multiple channels, like the web, social media, and other applications. With an average time spent on mobile phones reaching around 5 hours per day and the availability of multiple customer touchpoints, like websites, social media, live chats, phone calls, apart from the in-person assistance, brands find ample opportunity to engage customers with their brand and generate more revenues. A report from Mordor Intelligence said that the customer engagement solutions market was valued at USD 15.52 billion in 2020, and it is expected to reach USD 30.92 billion by 2026, with a CAGR of 12.65%, during the forecast period (2021 - 2026). Active Companies in the markets today include Infobird Co., Ltd (NASDAQ: IFBD), Zeta (NYSE: ZETA), Zendesk, Inc. (NYSE: ZEN), HubSpot, Inc. (NYSE: HUBS), Sprinklr, Inc. (NYSE: CXM).