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2019

Complaint Management Software Market

Complaint Management Software Market Size, Share, Competitive Landscape and Trend Analysis Report, by Component, Type, Deployment and Industry Vertical : Global Opportunity Analysis and Industry Forecast, 2019-2026

IC : Software and Services

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Author's: Vishwa Gaul | Onkar Sumant
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Complaint Management Software Market Statistics - 2026    

The global complaint management software market was valued at $1,930 million in 2018, and is projected to reach $8,286 million by 2026, growing at a CAGR of 11.2% from 2019 to 2026. Customer complaint software is a system devised to register customer issues, permitting support teams to consolidate these matters, sort them, and gain insights from them for their appropriate resolution. The complaint management solutions help to document, sort, and prioritize customer issues and feedback track and resolve them efficiently, thereby building a healthy customer relationship and improving customer satisfaction. Moreover, the software regularly generates useful data pertaining to problems or risks associated with products or services. This information can be further utilized to fix the root causes of customer experience griefs. 

Complaint Mangement Software Market

Rise in need to protect brand reputation & increase customer satisfaction, surge in demand for automated workflow, and increase in need to streamline complaint management operations are expected to impact the growth of the global complaint management software market. However, lack of data to resolve customer complaints is anticipated to hamper the market growth. On the contrary, rise in adoption of customer-centric strategies and integration of new technologies such as AI and NLP in complaint management software are expected to offer lucrative opportunities for market expansion.

Complaint Management Software Market
By Component
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Service segment is projected to show highest growth during the forecasted period.

Depending on deployment model, the cloud segment dominated the overall complaint management software market in 2018, and is expected to maintain the dominance during the forecast period. This is attributed to various advantages offered by cloud-based complaint management software solutions such as direct IT control, internal data delivery & handling, faster data processing, efficient resource utilization, and cost-effectiveness. 

On the basis of industry vertical, the government & public sector segment led the global complaint management software market in 2018, and is expected to continue this trend during the forecast period. The governments in the different nations are facing multiple challenges related with the statutory and corporate complaints, MP and councilor enquiries and other feedback. Thus, this sector is experiencing the need for a system that enables them to capture and manage complaints of citizens in a unified and consistent manner, irrespective of which part of the business the citizen chooses to contact. Furthermore, this software enables users to handle the process efficiently, and facilitates an exhaustive understanding of their issues by analyzing and tracking complaints, feedback, enquiries and service requests. Thus, complaint management software is witnessing increased adoption across the public sector. However, the healthcare segment is expected to exhibit the highest growth in the near future, as the complaint management software is increasingly being adopted for concerns over medical devices. 

Complaint Management Software Market
By Type
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Integrated complaint Management software segment is projected to show highest growth during the forecasted period.

In 2018, North America garnered the highest complaint management software market share, due to the accessibility of such software on mobile devices such as smartphones and tablets. Continuous advancements in IT infrastructure and technology used for customer support, presence of major number of market vendors, and accessibility of proficient technical expertise pertaining to managing the modern customer experience and helpdesk software contribute toward the global market growth in this region.

The report focuses on the growth prospects, restraints, and global complaint management software market trends. Moreover, the study includes the Porter’s five forces analysis of the industry to understand the impact of various factors such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers on the growth of the global market.

Complaint Management Software Market
By Deployment
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Cloud segment is projected to show highest growth during the forecasted period.

Segment review

The global complaint management software market is segmented into component, type, deployment, industry vertical, and region. Depending on component, the market is bifurcated into software and service. According to type, it is categorized into integrated and stand-alone types. As per the deployment, it is classified into cloud and on-premise. On the basis of industry vertical, it is segregated into BFSI, retail, government & public sector, IT & telecom, hospitality, healthcare, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players operating in the global complaint management software market analysis include AssurX, Inc., Equiniti, ETQ, LLC, Freshworks Inc., MasterControl, Inc., Oracle Corporation, Quantivate, LLC., Salesforce.com, Inc., Sparta Systems, Inc., Zendesk, Inc., and Zoho Corporation Pvt. Ltd.

Complaint Management Software Market
By Industry Vertical
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Government & Public Sector segment dominated the market in 2018.

Top impacting factors

Rise in need to protect brand reputation & increase customer satisfaction

Companies across various industry verticals are adopting complaint management software, owing to rise in need to protect the brand reputation and increase customer satisfaction by confirming that complaints are inspected and answered in a timely manner. Furthermore, increase in awareness among companies to achieve customer satisfaction is boosting companies to adopt customer-centric strategies. This is further is propelling the need to adopt complaint management software to effectively address customer complaints and resolve them proficiently to ensure the positive customer experience, thereby retaining the brand reputation. In addition, rise in demand of consumers for speedy and appropriate response to their complaints is expected to drive the demand of complaint management software market in the near future. 

Increase in need for automated workflow & to streamline complaint management operations

Upsurge in adoption of cloud-based technology due to the need for reducing costs is driving the demand for cloud-based complaint management solutions across various organizations. Furthermore, the demand to improve response and closure times associated with handling customer complaints is propelling the need for complaint management software. The continuous flow of complaints in several industries such as government, BFSI, and telecom is further augmenting the need to implement a systematic system for automating the complaint handling workflow. In addition, companies experience the need for a system, which can help in offering the most appropriate solution by directing them to correct agent or assigning correct priorities and keeping track of these complaints. Moreover, leading vendors are already implementing advanced technology to auto suggest the most correct solution for resolving complaints of customer by analyzing the database of previous related complaints of customers. Thus, all these factors together significantly contribute toward the global complaint management software market growth. 

Integration of new technologies in complaint management software

Voice analysis is one of the most widespread uses of AI in customer complaint management. This technology analyzes the voices of customers and customer service representatives to detect their tone and emotions. For instance, IBM Watson’s Tone Analyzer integrated with chatbots conducts social listening to enable predicting customers’ emotions. Using voice analysis can help customer service representatives take quicker and focused action toward resolving a complaint. Furthermore, use of artificial intelligence facilitates automated inquiry routing, ensuring correct classification of complaints. In addition, it helps to speed up the customer complaint management process by estimating the customer’s intent and directing them to the correct agent automatically. Moreover, self-service chatbots are expected to become an integral part of complaint management software in the coming years. Some companies already offer a chatbot as a first point resolution for complaint management with the choice to speak with a real person at any point in the interaction. Furthermore, leading players in the complaint management software market are implementing AI for auto suggesting the relevant response to client complaints. For instance, Zoho Desk's AI assistant, Zia refers relevant articles from knowledgebase, and prepares an answer even before agents read the ticket. Thus, integration of new technologies in complaint management software is anticipated to offer lucrative opportunities for the growth of the complaint management software market during the forecast period.

Complaint Management Software Market
By Region
2026
North America 
Europe
Asia-Pacific
LAMEA

North America region is expected to dominate the market during the forecast period.

Key Benefits for Complaint Management Software Market:

  • This study includes the analytical depiction of the global complaint management software market forecast and trends to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities.
  • The current complaint management software market size is quantitatively analyzed from 2018 to 2026 to highlight the financial competency of the industry.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the complaint management software industry.

Complaint Management Software Market Report Highlights

Aspects Details
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By Component
  • Software
  • Service
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By Type
  • Integrated
  • Stand alone
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By DEPLOYMENT
  • On premise
  • Cloud
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By Industry Vertical
  • BFSI
  • Retail
  • Government & Public Sector
  • IT & Telecom
  • Hospitality
  • Healthcare
  • Others
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By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (UK, Germany, France, Rest of Europe)
  • Asia-Pacific  (China, India, Japan, Australia, Rest of Asia-Pacific)
  • LAMEA  (Latin America, Middle East, Africa)
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Key Market Players

Freshworks Inc., ETQ, LLC, MasterControl, Inc., Oracle Corporation, Sparta Systems, Inc., Quantivate, LLC., Salesforce.com, Inc., Equiniti, Zoho Corporation Pvt. Ltd., AssurX, Inc., Zendesk, Inc.

Analyst Review

Complaint management software are being adopted across various organizations to improve the internal complaint handling process, thereby reducing the recurring complaints and raising the standards of decision-making. 

The complaint management software market vendors are offering analytics and AI-incorporated solutions to enhance the complaints handling process. Furthermore, they are offering the ability to integrate complaint management with knowledge management software, customer relationship management software, as well as with quality management software which helps to consolidate resources for frequently asked questions and other useful data assets. The need to offer the solutions compliant with industry-wise standard regulations for handling customer grievances is further driving the demand of complaint management software market. 

North America is expected to dominate the market in the upcoming years, owing to increase in awareness and focus on attaining customer satisfaction by major organizations.

The global complaint management software market has a considerable competitive environment. This is attributed to the fact that the market comprises several international and regional players. The global players focus on increasing their presence in many regions, which further increases the competition in terms of features, quality, and price for local vendors. In addition, market players are adopting various business strategies strengthen their foothold in the market and increase their market penetration. For instance, Zoho Pvt. Ltd. Corporation is providing the AI assistant named Zia, which helps in auto suggesting the appropriate solutions for resolving the complaints as well as to perform the sentiment analysis of customers. 

 


 

Author Name(s) : Vishwa Gaul | Onkar Sumant

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Complaint Management Software Market

Global Opportunity Analysis and Industry Forecast, 2019-2026