Social Customer Service Applications Market Industry to Experience Significant Growth by 2030 from Harshsingh's blog

According to the Market Statsville Group (MSG), the global social customer service applications market size is expected to grow from USD 12.166.7 million in 2022 to USD 23,927.1 million by 2033, at a CAGR of 12.6% from 2023 to 2033.

The social customer service applications market is driven by the increased demand for real-time problem-solving and strong customer relationship building.

Other factors such as increased ICT (Information and Communications Technology) investment, continuous cloud technology improvements, and growth in the number of customer-facing organizations are expected to drive the global social customer service application market. However, one reason that may limit market growth is the lack of client data, making it difficult for service providers to comprehend the problem.

Through social customer service software, companies can communicate with their customers. A social customer service system collects and ranks mentions on social media platforms such as Twitter and Facebook and creates tickets for support agents to respond to the mentions and provide appropriate service. These solutions are used in both customer service and marketing departments to increase brand awareness and convert consumer complaints into superior promotions to a vast audience of social media users.

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Customers increasingly expect quick and personalized responses to their inquiries and complaints. Social media platforms offer businesses the opportunity to engage with customers in real-time and provide personalized support. In today's highly competitive business environment, providing a positive customer experience is crucial for retaining customers and generating positive word-of-mouth. Social customer service applications can help businesses provide a seamless and convenient customer experience. Compared to traditional customer service channels, social customer service applications can be more cost-effective and efficient. Businesses can handle multiple inquiries simultaneously, and social media platforms offer tools for automation and streamlined workflows.

Many businesses use legacy systems to manage customer data, and integrating these systems with social customer service applications can be difficult and time-consuming. Managing customer inquiries across multiple social media channels can be a challenge, especially for businesses with limited resources. Social media platforms are constantly evolving, and businesses must stay up-to-date with the latest trends and features to provide effective customer service.

Many social customer service applications are incorporating artificial intelligence and chatbots to automate routine inquiries and provide quick responses to customer inquiries. Social listening tools can help businesses monitor social media channels for mentions of their brand and products, allowing them to respond quickly to customer inquiries and feedback. As voice assistants such as Alexa and Siri become increasingly popular, businesses may need to develop strategies for providing customer service through these platforms.

The study categorizes the social customer service applications market based on type and application at the regional and global levels.

• Cloud-Based
• On-Premises

• Large Enterprises
• Medium-Sized Enterprises
• Small Enterprises

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Italy
  • France
  • UK
  • Spain
  • Poland
  • Russia
  • The Netherlands
  • Norway
  • Czech Republic
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Indonesia
  • Malaysia
  • Thailand
  • Singapore
  • Australia & New Zealand
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Colombia
  • Rest of South America
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa
  • Northern Africa
  • Rest of MEA

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Based on type, the global social customer service applications market is divided into on-premises and cloud-based. In 2021, the cloud-based segment accounted for the largest market share in the global social customer service applications market. The rapid rise in the adoption of cloud-based applications owing to their reduced costs, scalability, collaboration efficiency, flexibility of work practices, access to automatic updates, and more.

Globally, Asia Pacific is estimated to hold the highest CAGR in the global social customer service applications market during the forecast period. The region's growth is primarily due to strong economic growth in emerging domestic countries such as China, Indonesia, Malaysia, and India. The region is recognized for its increasing focus on customer engagement, emerging small businesses, social platforms, and real-time idea sharing. Companies develop social monitoring, social listening, social middleware, social management, and social measurement solutions to deliver best-in-class customer experiences to their customers.

The social customer service applications market is highly competitive as key industry players adopt strategies such as partnerships, acquisitions, agreements, product development, and expansions to consolidate their market positions. Most companies focus on expanding operations across geographies, expanding capabilities, and building strong partnerships.

• Zendesk
• Intercom
• Salesforce
• Hootsuite
• Vendor for Misc Products Salesforce
• Khoros
• Sparkcentral
• Jive Software, an Aurea company
• Pegasystems
• Conversocial

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• In March 2020, Zendesk extended its fledgling Sunshine CRM suite with support for more customer communication channels and further integrated it with its flagship Zendesk Support platform in hopes of appealing to sales teams. Zendesk Sunshine, the company's flagship Zendesk Support platform, shows customer conversations across SMS and social media channels, including WhatsApp, Facebook Messenger, Twitter, WeChat, and Line. The unified dashboard also catalogs other customer interactions, such as shopping cart activity and order tracking.
• In March 2022, Intercom launched two new products: Surveys, the only tool of its kind that enables businesses to capture insights from customers and act on them in real-time, and Switch, a tool for support teams to seamlessly transition customers from phone support hold queues to Intercom's Messenger support at the customer's preference. Building on its investments to deliver next-generation support, the company also announced the new Intercom Inbox—a complete rebuild and redesigned to make its most-used product the fastest and most efficient support inbox for the modern era.

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