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CX Growth Opportunities in the Energy Industry 2024 to 2025

  • Report

  • 43 Pages
  • November 2024
  • Region: Global
  • Frost & Sullivan
  • ID: 6032811

Customer Perspectives

The primary goals of this study are to determine implementation plans of interaction channels, applications, and solutions in the contact center environment across industries and to understand purchase trends. It also investigates the factors that influence product selection.

Decision-makers and purchase decision influencers of contact centers were surveyed across business functions including CXOs, managing directors, and Owners, senior management, middle management, and others.

Countries include Australia/New Zealand, Brazil, Germany, India, Mexico, Philippines, U.K, and United States.

Decision makers from the 85 energy organizations such as:

  • Energy producers
  • Energy distributors
  • Oil & gas companies
  • Renewable energy companies
  • Nuclear energy enterprises
  • Electricity utilities
  • Gas utilities
  • Gas stations
  • Water utilities
  • Waste Management Companies
Generative Artificial Intelligence (Gen AI) will be integral to a energy organization’s digital strategy. The focus will be on adoption across back and front office use cases. Conversational AI-based products flooded the market to address provider burnout. The focus was on utilizing different AI models to tackle diverse challenges.
  • Top energy contact center organization goals in 2024 include improving brand awareness, customer loyalty, deploying AI technologies to improve employee experience (EX) and customer experience (CX), and attracting and retaining talent.
  • The most significant CX Priorities are building customer trust and ensuring security.
  • Less than 20% of organizations deliver omnichannel customer journeys, leaving a huge gap between customer expectations and positive customer experiences.
  • Cases studies are included from prominent technology providers.

The CX research practice provides an integrated approach with a 360-degree perspective, including:

  • Growth Opportunity Analysis: contact center systems, CX management, cloud contact center as a service, contact center market assessment, regional cuts for North and Latin America, Europe, and APAC, as well as country-level analysis.
  • Strategic Insights: Gen AI; content moderation; global sourcing: internet of things in CX; megatrends; mobile customer care; near and off shoring; proactive customer care; security in CX; technology-enabled outsourced solutions; vertical insights; and workforce engagement management.
  • Customer Research: customer survey; Mindxchanges events; vertical insights; and CX client council;
  • Competitive Benchmarking: Frost Radars; Best Practices Awards; and Buyers Guides.

Table of Contents

Research Methodology
  • An Integrated Approach Provides a 360-Degree Perspective
  • Research Objectives and Methodology of Customer Survey
  • Respondent Profile
Energy Trends that Impact CX
  • How will Energy Trends Affect CX Providers?
Key Findings from the 2024 Contact Center Decision-Maker Survey
  • Key Findings from the 2024 Contact Center Decision-Maker Survey
Investment Priorities & Critical Decision-Making Factors
  • Most Companies Leverage Digital Channels, but Voice Still Reigns
  • Brand Awareness and Customer Loyalty are Top Priorities for Energy
  • Customer Trust Remains the Key in the Contact Center Environment
  • Customer Care and Security Lead the Buying Decision Criteria
Benefits of AI Infusion for Agent Optimization and Self-Service
  • Gen AI Adoption Grows; Companies Expect it to Enhance Several CX Processes
  • AI Investments Across the Contact Center Solution Suite
  • Energy Companies Fall Behind in Conversational AI Adoption
Seamless Customer Journeys Collaboration
  • Over 80% of Energy Organizations Lack of an Omnichannel Customer Journey
  • Why Energy Companies Want UCaaS and CCaaS Integrated
Case Studies
  • Ygrene Improves Stability and adds IVR and IVA with Five9
  • Northumbrian Water reinvigorates its CX approach with Genesys Cloud
  • Severn Trent Water Embraces Cloud-based Workforce Management with NICE
Energy Industry Trends and Predictions
  • Key Energy Trends in 2024
  • Energy Industry: Regional Outlooks
  • Top Predictions for 2024
  • Main Technologies to Watch in the 2024-2025
Appendix
  • Growth Opportunities Fuel the Growth Pipeline Engine™
  • Why Is It Increasingly Difficult to Grow?
  • The Strategic Imperative 8™
Appendix & Next Steps
  • Benefits and Impacts of Growth Opportunities
  • Next Steps
  • List of Exhibits
  • Legal Disclaimer