Insights into the Complaint Management Software Industry in North America to 2028 – Restraints, Opportunities and Challenges – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “North America Complaint Management Software Market 2020-2028” report has been added to ResearchAndMarkets.com’s offering.

As per an analysis by a report on the North American complaint management software market depicts that the industry would surge at a CAGR of 11.68% in the forecast period 2020-2028.

The United States and Canada form the North American complaint management software market.

In North America, banks have been collaborating with fintech corporations to enhance the customer service experience. Online lending platforms and mobile banking is witnessing tremendous growth in the past few years. The increasing awareness regarding the importance of technology in the banking sector is leading to the growth of advanced technological developments like internal cloud and software architecture.

Bank of America has been making investments of approximately $25 billion in advanced technology initiatives since 2010. As the cloud service is an important end-user segment of complaint management systems, the emergence of cloud services will lead to the growth of the potential adoption of complaint management software, thereby proliferating the market growth.

Financial service providers and vendors are increasingly complying with the guidelines provided by the Consumer Financial Protection Bureau (CFPB). The CFPB has deployed a database where the consumers are able to file a complaint directly with the bureau. Financial institutions have to comply with the CFPB regulations for customer complaint handling. According to the guidelines, financial institutes must record all the complaints received, categorize them for easy tracking, address the issues and escalate the complaints that require legal intervention.

Companies Mentioned

  • Assurx Inc
  • Equiniti
  • ETQ LLC
  • Freshworks Inc
  • Mastercontrol Inc
  • Oracle
  • Quantivate LLC
  • Salesforce.Com Inc
  • Sparta Systems Inc
  • Zendesk Inc
  • Zoho Corporation Pvt Ltd

Key Topics Covered:

1. North America Complaint Management Software Market – Summary

2. North America Industry Outlook

2.1. Market Definition

2.2. Key Insights

2.2.1. North America Holds the Largest Market Share

2.2.2. Services is the Fastest Growing Component

2.2.3. Government and Defence Holds the Largest Market Share Amongst Industrial Verticals

2.3. Porter’s Five Force Analysis

2.3.1. Threat of New Entrants

2.3.2. Threat of Substitute

2.3.3. Bargaining Power of Suppliers

2.3.4. Bargaining Power of Buyers

2.3.5. Threat of Competitive Rivalry

2.4. Market Attractiveness Index

2.5. Vendor Scorecard

2.6. Market Drivers

2.6.1. Need to Increase Customer Satisfaction and Protect Brand Reputation

2.6.2. Increasing Automated Workflow and Complaint Management Operations

2.7. Market Restraints

2.7.1. Insufficient Useful Data to Resolve Customer Complaints

2.8. Market Opportunities

2.8.1. Integration of New Technologies Such as AI and NLP in Complaint Management Software

2.9. Market Challenges

2.9.1. Fragmented and Insufficent Information

2.9.2. Inflexible, Outdated Systems

3. North America Complaint Management Software Market Outlook – by Component

3.1. Software

3.2. Service

4. North America Complaint Management Software Market Outlook – by Type

4.1. Integrated

4.2. Stand-Alone

5. North America Complaint Management Software Market Outlook – by Deployment

5.1. On-Premises

5.2. Cloud

6. North America Complaint Management Software Market Outlook – by Industrial Vertical

6.1. BFSI

6.2. Retail

6.3. Government & Public Sector

6.4. It & Telecom

6.5. Hospitality

6.6. Healthcare

6.7. Others

7. North America Complaint Management Software Market – Regional Outlook

7.1. United States

7.2. Canada

8. Competitive Landscape

9. Methodology & Scope

9.1. Research Scope

9.2. Research Scope & Deliverables

9.3. Sources of Data

9.4. Research Methodology

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