Global Service Quality Management (SQM) And Telco Customer Experience Management (CEM) Market Size Forecast 2024 - 2033
23 Dec, 2024
How Is The Global Service Quality Management (SQM) And Telco Customer Experience Management (CEM) Market Defined?
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.
Service Quality Management (SQM) And Telco Customer Experience Management (CEM) Global Market Report 2024 provides data on the global service quality management (sqm) and telco customer experience management (cem) market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The service quality management (sqm) and telco customer experience management (cem) market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
How Are The Global Service Quality Management (SQM) And Telco Customer Experience Management (CEM) Market Size And Growth Rates Projected To Evolve?
The service quality management and telco customer experience management market has shown rapid growth, expanding from $4.63 billion in 2023 to $5.22 billion in 2024 at a CAGR of 12.7%. Growth has been driven by increasing mobile app usage, customer interactions in the BFSI sector, IoT expansion, and the focus on compatibility issues. The market is expected to grow to $8.49 billion by 2028 at a CAGR of 12.9%, driven by rising mobile operator services, demand for technical support, cloud-based solutions, open APIs, and fault management. Emerging trends include AI-driven personalization, automation, enhanced analytics, proactive customer engagement, and self-service solutions.
What Are The Essential Drivers Behind The Growth Of The Service Quality Management (SQM) And Telco Customer Experience Management (CEM) Market?
The growing adoption of cloud-based solutions is anticipated to drive the expansion of the service quality management (SQM) and telecom customer experience management (CEM) market. Cloud-based solutions are becoming more popular due to their scalability, flexibility, and cost-effectiveness for businesses. These solutions improve service quality and customer experience management by offering real-time data analysis and enhancing responsiveness and personalized service. According to a survey conducted by Flexera, a significant portion of organizations increased their investment in cloud services in 2023. This growth in cloud adoption is helping drive the market for service quality management and telecom customer experience management.
Get Your Free Sample of the Global Service Quality Management (SQM) And Telco Customer Experience Management (CEM) Market ReportHow Is The Global Service Quality Management (SQM) And Telco Customer Experience Management (CEM) Market Divided Into Key Segments?
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
What Trends Are Reshaping The Future Of The Service Quality Management (SQM) And Telco Customer Experience Management (CEM) Market?
Companies in the service quality management (SQM) and telco customer experience management (CEM) market are introducing innovative technologies like customer service management software to improve profitability. Customer service management software streamlines and enhances customer service operations within telecommunications companies. For example, in June 2021, Service Quality Measurement (SQM) Group, a software company based in Canada, launched mySQM FCR (First Call Resolution) Insights, a new software solution designed to improve customer service and reduce costs. This software offers a quality assurance solution for call centers, enabling a single platform to monitor, motivate, and manage agents, which improves both agent performance and customer experiences while lowering quality assurance costs.
What Is The Fastest Growing Region In The Service Quality Management (SQM) And Telco Customer Experience Management (CEM) Market?
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.