CSP spending on customer engagement grew in 2022 due to an enhanced focus on the customer journey

The customer engagement (CE) market grew to USD15.5 billion in 2022 which represented a 7.7% growth compared to 2021. Product-related revenue made up 38% of the total revenue compared to 62% of revenue made up by professional services. Product revenue grew by 9%, driven by increasing trust in SaaS-based deployments, with SaaS revenue increasing by 15.6%, whereas professional services revenue grew by 7%. Salesforce remained the largest vendor, representing 13% of total revenue, with its lowest revenue attrition to date. In this article, we give a broad perspective on the CE market drivers and vendor activity, and we examine the market dynamics to help to inform players’ strategies.