The global customer advocacy software market is estimated to grow at a significant CAGR during the forecast period. The customer advocacy software market growth is attributed to the faster deployment of new capabilities, including the introduction of advanced technologies such as AI. In the case of conventional on-premise service-based systems deployment of new IT-based technologies for improving the business, capabilities and expanding new capabilities take time. Besides, getting a new on-premise application to deploy successfully often takes months, resulting in a waste of time. However, deploying a new application in a cloud platform requires only a week or two. Furthermore, the cloud platform assists in reducing the cost. Cloud services eliminated the wait to run the application after its deployment, which results in time-saving and more efficient work.
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Rising adoption of the cloud platform is attributed to the faster deployment of new capabilities in enterprises. The demand for cloud-based services among enterprises has been growing significantly in the developed economies across the globe. Various factors can influence the adoption of cloud-based customer advocacy software by SMEs (small and medium enterprises) such as organization characteristics, competitiveness, and management strategies. SMEs can improve their performance in strategic areas such as customer service, productivity and cost reduction by aligning their organizational ICT infrastructure with cloud-based services.
Enterprises across the globe are adopting the cloud-based platform for storing data as large storage space is required by the commercial data generated by small & medium-sized enterprises and large enterprises, which in turn, is propelling the global customer advocacy software market. Further, with the increasing amount of data generated through IoT, many enterprises have shifted their data to the cloud storage by choosing service providers. Therefore, the demand for cloud-based services among enterprises has been growing significantly in developed economies globally. For instance, according to Eurostat, 26% of EU enterprises used cloud computing in 2018, primarily for e-mails and storage of files, as compared to 21% in 2016. Likewise, there is significant adoption of cloud-based services across several countries, such as the US, China, and India owing to a significant rise in the demand for cloud-based services by SMEs.
The SMEs require the right organizational cloud infrastructure to provide essential functionalities for supporting their business processes. The organizational cloud infrastructure allows SMEs to secure, process, store and manage information. SMEs can improve their performance in strategic areas such as customer service, productivity and cost reduction by aligning their organizational ICT infrastructure with cloud-based services. An organizational cloud-based infrastructure supports these improvements by making it easier for SMEs to communicate, share information, and to streamline business processes that will raise the demand for cloud-based services in SMEs.
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Global Customer Advocacy Software Market- Segmentation
By Deployment Type
- Cloud-based
- On-Premises
By Application
- Advocate Management
- Reporting/Analytics
- Rewards Program
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
