Proactive Services Industry Overview
The global proactive services market size is expected to reach USD 18.19 billion by 2030, and register a CAGR of 20.3% from 2022 to 2030, according to a new report by Grand View Research, Inc. The heightened customer expectations, increased use of smartphones, and high adoption of e-commerce and other shopping applications have triggered the need for proactive services. Benefits such as increased availability and uptime, lower operational cost, increased brand loyalty, and better retention rate among others will further support the growth of proactive services. Implementing the latest technologies such as Artificial Intelligence (AI), advanced analytics, and Machine Learning (ML) helps differentiate the types of customers and offers them personalized experiences, which is expected to drive market growth.
The adoption of proactive services allows the organization to not only meet regular customer expectations but also understand their latent needs. Proactively reaching out to customers before an issue arises helps in strengthening the customer relationship. Moreover, the implementation of proactive services can protect organizations against escalations by identifying negativity at the earliest warning. By utilization of real-time data, proactive services help accurately categorize the customers which can further be used for offering customized products and services. Additionally, proactive services allow customers to give valuable feedback that in turn helps organizations to improve their productivity by correctly understanding areas of improvement.
Large enterprises are implementing proactive services to gain a competitive advantage over others, whereas more and more startups and Small and Medium Enterprises (SMEs) are also observed to take the help of proactive services for strong brand establishment. A reactive business model faces more inbound calls which can be costly for business, thus, to manage cost and save time organizations prefer to identify and remediate the issue before they turn into bigger problems. For instance, Facebook provides content on their website and mobile application that would answer frequently asked questions. In this way they reduce the chances of support tickets being raised, Facebook would additionally allow users to connect with their dynamic help section that provides documentation on various topics.
Proactive Service Market Segmentation
Grand View Research has segmented the global proactive services market based on service, technology, enterprise, application, end-use, and region:
Based on the Technology, the market is segmented into Analytics, Artificial Intelligence, and Others.
- The analytics segment accounted for a market share of over 50% in 2021. The analytics solution can handle tremendous amounts of data and it helps organizations to achieve proactive customer care. Organizations can leverage advanced analyticsto measure various variables, understand consumers’ purchasing patterns, analyze probabilities, and measure anomalies to find out the root causes.
- The Artificial Intelligence (AI) segment is expected to register the highest CAGR of 21.3%. The increasing number of organizations are adopting AI due to its ability to accurately comprehend data and based on that send customized product and service recommendations, additionally, it would help in cross-selling and upselling.
Based on the Service, the market is segmented into Large Enterprise, and Small & Medium Enterprise.
- The managed servicessegment accounted for the largest market share of over 35% in 2021, this segment allows to outsource IT tasks for better work efficiency. Advantages offered by the implementation of managed services are low operational cost, enhanced functional effectiveness, and reduced workload on the in-house IT team, among others. The need for ideal resource allocation, remote monitoring, and management of hardware, security services, and communication support will further boost this segment.
- The technical support segment is expected to expand at the fastest CAGR of 21.3% over the forecast period. The need for organizations to comply with the latest regulations and the increase in security threats compel organizations to disburden their daily IT operations and turn to service providers.
Based on the Enterprise Size, the market is segmented into Cloud Management, Customer Experience Management, Data Center Management, End-point Management, Network Management, and Others.
- The customer experience management segment accounted for the largest market share of over 25% in 2021. Customer experience management helps organizations in many ways such as spreading good word of mouth, retaining existing customers, acquiring new customers, improving customer satisfaction, higher customer lifetime value, and brand loyalty among others.
- The cloud management segment is expected to register the fastest CAGR of 22.8% over the forecast period. Cloud management proactive services providers offer system monitoring, proactive patches for better security, capacity management, backup services, preventive maintenance, and service management.
Based on the End-use, the market is segmented into BFSI, Government, Healthcare, Manufacturing, Media & Communications, Retail, Others.
- The BFSI segment captured over 20% of the overall revenue share in 2021 and is expected to continue to dominate the proactive services market by 2030. The developing interest of banks and other financial institutions to enhance customer engagement and interaction process aimed to create a lasting impact on customers is expected to support the growth of this segment. Due to the COVID-19 pandemic, an increase in mobile bankingservices is observed which further pushes banks to implement proactive services in the fast-growing marketplace.
- The healthcare segment is expected to grow at the fastest CAGR of 22.6% over the forecast period. The healthcare segment is highly reactive but a shift towards value-based care with better population health and lower cost is expected to support the growth of this segment.
Key Companies & Market Share Insights
The dominant players operating in the market include Microsoft Corporation; Symantec Corporation; Fortinet, Inc.; Juniper Network, Inc.; and Avaya Inc. Market players are observed to invest resources in R&D activities to support growth and enhance their internal business operations. Companies can be seen engaging in mergers & acquisitions and partnerships to further upgrade their products and gain a competitive advantage in the market. They are effectively working on new product development, and enhancement of existing products to acquire new customers and capture more market shares.
For instance, AT&T helps their subscriber to avoid the phenomenon called ‘Bill Shock’, it occurs when the customer receives the bill for the first time, and it is difficult for them to understand. In such a scenario customers are observed to make multiple inbound calls, hence, to avoid that AT&T added a video link with the first bill which with the help of a personalized video will walk them through the bill. Some of the prominent players operating in the global proactive services market are:
- Microsoft Corporation
- Symantec Corporation
- Fortinet, Inc.
- Juniper Network, Inc.
- Avaya Inc.
- DXC Technology
- Hewlett Packard Enterprise Company
- Huawei Technologies Co., Ltd
- International Business Machines Corporation
- Cisco Systems, Inc
- LivePerson, Inc
- NICE
- Genesys
Order a free sample PDF of the Proactive Services Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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