The global customer advocacy software market is estimated to garner US$ 1.4 Billion while exhibiting a 7.1% CAGR during the forecast period. Mainly due to the availability of smart technologies amongst the masses the global customer advocacy software market has grown by leaps and bounds in recent years. As enterprises strive to attain a competitive edge, customer advocacy is a necessity. As many large enterprises are considering the extraction capabilities for getting valuable insights from big data, which is opportunistic for the market and will help in boosting the growth of the market.
Also, the small and medium scale businesses are shifting their business to a digital platform, small-scale businesses are using customer advocacy software solutions for a number of uses and it is helping them to become more productive, smarter, and efficient and also to form a loyal customer base. With increasing cloud-based solutions, the customer advocacy software industry is expected to secure US$ 718 Million in 2022.
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Rising penetration of big data technologies, cloud computing and other advanced technologies have prompted customer advocacy software providers to transform services to a whole new level. Also increasing use of cloud-based technology such as artificial intelligence and big data and in many applications impelled the growth of the market. The enterprise propaganda segment is likely to offer remunerative opportunities for the global customer advocacy software market.
Key Takeaways from the Market Study
- By type, cloud-based segment is expected to record an 6.9% CAGR by 2032
- By application, enterprise propaganda segment to expand at a 6.8% growth rate during the forecast period
- The U.S market to garner US$ 510 Million and record a 7.0% CAGR from 2022-2032
- Market in China to procure US$ 104.5 Million, expanding at a 6.5% growth rate during the assessment period
Competitive Landscape
Key players of the global customer advocacy software market include One Click Politics, The Soft Edge, CQ-Roll Call, Capitol Impact, Capitol Canary among others. Market players are leveraging strategic collaborative initiatives to increase their market share and increase their profitability. Recent developments among key players are:
- In March 2021– Blackbaud the world’s leading cloud software company powering social good, introduced Blackbaud CRM which provides enterprise institutions with a strong foundation to support broader technology initiatives across campus, enabling them to drive fundraising and engagement success.
- In February 2022– Capitol Canary, leading government affairs technology platform, after acquisitions of KnowWho and GovPredict, which paved the way for the company to provide a comprehensive government affairs solution that combines detailed legislative and regulatory intelligence, proven advocacy tools and the most accurate policymaker contact data.
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More Valuable Insights
Future Market Insights, in its new offering, presents an unbiased analysis of the global customer advocacy software market presenting a historical analysis from 2015 to 2021 and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of type (on cloud and on-premise) and application (enterprise propaganda, government elections and organized fund-raising) across five major regions (North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America).
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