Press release

Navigant Research Report Shows the Global Market for Customer Experience Analytics Is Expected to Grow from $53 Million in 2019 to $117 Million in 2028

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A new report from Navigant
Research
discusses how competition, regulatory pressure, and
ownership structures are significant drivers for adoption of customer
experience (CX) analytics. The report provides global market forecasts,
segmented by CX type and region, through 2028.

For decades, electricity was regarded as a commodity taken for granted
by most customers, and electricity providers were rarely noticed until
something went wrong—usually through a billing error or power outage.
Today, as the Energy
Cloud
transition shifts energy supply to energy services, CX is
becoming increasingly important. Click
to tweet
: According to a new report from @NavigantRSRCH,
the global market for CX analytics is expected to grow from $53.0
million in 2019 to $116.7 million in 2028.

“There is an incredible amount of uncertainty among utility incumbents
about what products and services to develop for the future electricity
customer,” says Stuart Ravens, principal research analyst with Navigant
Research. “By investing in CX analytics and applying insights into
business processes, utilities and electricity suppliers can make great
strides to build products and services around customers’ future
requirements and bring much needed clarity to future business model
development.”

CX-leading companies report that their efforts have resulted in
increased revenue and profit margins as well as improved customer
loyalty and retention. As the Energy Cloud transition continues to
unfold, bringing unprecedented disruption and complex new business
models, addressing these issues will be critical to success.

The report, Customer
Experience Analytics
, discusses how competition, regulatory
pressure, and ownership structures have been significant drivers for
adoption of CX analytics. The study analyzes the disruption that comes
with the transition to the Energy Cloud, particularly in the shift of
business models from energy supply to energy services. Global market
forecasts, segmented by CX type and region, extend through 2028. The
report examines CX analytics opportunities and technology obstacles to
bring much needed clarity to future business model development. An
Executive Summary of the report is available for free download on the Navigant
Research website
.

About Navigant Research

Navigant Research, the dedicated research arm of Navigant, provides
market research and benchmarking services for rapidly changing and often
highly regulated industries. In the energy sector, Navigant Research
focuses on in-depth analysis and reporting about global clean technology
markets. The team’s research methodology combines supply-side industry
analysis, end-user primary research and demand assessment, and deep
examination of technology trends to provide a comprehensive view of
clean, intelligent, mobile, and distributed energy. Additional
information about Navigant Research can be found at www.navigantresearch.com.

About Navigant

Navigant Consulting, Inc. is a specialized, global professional services
firm that helps clients take control of their future. Navigant’s
professionals apply deep industry knowledge, substantive technical
expertise, and an enterprising approach to help clients build, manage
and/or protect their business interests. With a focus on markets and
clients facing transformational change and significant regulatory or
legal pressures, the Firm primarily serves clients in the healthcare,
energy and financial services industries. Across a range of advisory,
consulting, outsourcing, and technology/analytics services, Navigant’s
practitioners bring sharp insight that pinpoints opportunities and
delivers powerful results. More information about Navigant can be found
at navigant.com.

* The information contained in this press release concerning the
report,
Customer Experience Analytics, is a summary and reflects
Navigant Research’s current expectations based on market data and trend
analysis. Market predictions and expectations are inherently uncertain
and actual results may differ materially from those contained in this
press release or the report. Please refer to the full report for a
complete understanding of the assumptions underlying the report’s
conclusions and the methodologies used to create the report. Neither
Navigant Research nor Navigant undertakes any obligation to update any
of the information contained in this press release or the report.