Customer Analytics Global Market Report 2022 by The Business Research Company is the most comprehensive report available on the market, being wide-ranging both in terms of chronology and geography. It covers the historic period – 2016-2021, and the forecast period – 2022-2026, with additional forecasts for 2026-2031. The report helps gain a truly global perspective as it covers 60 geographies, focusing on major economies in each region – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
TBRC’s market report includes a chapter on the COVID-19 impact on the customer analytics industry, which gives valuable insights on supply chain disruptions, logistical challenges, and other economic implications of the virus on the market and how companies can strategize to bounce back from it. With updated market numbers according to the effects of the coronavirus, the report provides the most accurate expected customer analytics market growth numbers from 2022-2031.
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The global customer analytics market size is expected to grow from $7.45 billion in 2021 to $8.86 billion in 2022 at a compound annual growth rate (CAGR) of 18.91%. The global customer analytics market is expected to reach $17.72 billion in 2026 at a CAGR of 18.92%.
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The Customer Analytics Global Market Report 2022-31 by The Business Research Company evaluates customer analytics market size, growth rate, drivers, customer analytics industry trends, and major companies.
The customer analytics market segments in the report are:
1) By Solution: Social Media Analytical Tools, Dashboard, Extract Transform Load or Data Management, Web Analytical Tool, Reporting, Voice of Customer (VOC), Analytical Tools
2) By Organization Size: Large Enterprises, Small and Medium-Sized Enterprises (SMEs)
3) By Deployment Mode: On-Premises, Cloud
4) By Application: Brand Management, Campaign Management, Churn Management, Customer Behavioral Analysis, Product Management, Others
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Global Customer Analytics Market by Component and by regionThe GMI Research speculates that the Customer Analytics Market will encounter an accumulation in demand over the forecast period.
This is because of the aggravating investment in product management by large-size organisations to enhance customer experience and swift acquisition of customer analytics by organisations to stay competitive.Request a free sample of this reportIntroduction of the Customer Analytics Market Customer analytics refers to the study of analytics to comprehend consumer behaviour to take business decisions such as predictive analytics and market segmentation.
Also, it offers all valuable information about the behaviour of consumers to the marketer with valuable information to assist them to improve their experience by using customized interactions between the brand and the customers.Key Players of Market:Adobe, Inc.Google LLCSAP SESAS InstituteMicrosoft CorporationOracle CorporationTeradata Corporationcom, IncManthan SystemsMix panelCustomer Analytics Market DynamicsThe rising need to acknowledge consumer behaviour to offer a superior and customized experience to intended customers, as well as the aggravating endorsement of sophisticated technologies such as machine learning, artificial intelligence, and business process mechanization to arrange market operations, has elevated the growth of the global customer analytics market size.
Further, the software assists in understanding the purchasing pattern of customers and personalize the market functions depending upon the customer requirement, which is another factor complementing the market growth.
The technologies such as AI and ML help vendors to interpret customer behaviour and help disclose customer emotions and establish business with customers using different social media platforms by linking their product with e-commerce sites.
On the other hand, the rising apprehension towards data privacy and safety may restrain the Customer Analytics Market Size.Deployment Mode Segment DriversBased on the deployment model, the cloud is contemplated to bolster at a higher rate over the coming years.
The report "Customer Analytics Market by Component, Deployment Mode, Organization Size, Application (Campaign Management, Customer Behavioral Analysis, and Churn Management), Data Source, Industry Vertical, and Region - Global Forecast to 2025" is projected to grow from USD 10.5 billion in 2020 to USD 24.2 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 18.2% during the forecast period.
The major factors driving the growth of customer analytics market include the need to understand customer buying behavior for a more personalized customer experience and advent of technologies, such as Artificial Intelligence (AI), Machine Learning (ML), and business process automation to streamline marketing operations.Browse 145 market data Tables and 55 Figures spread through 236 Pages and in-depth TOC on "Customer Analytics Market by Component, Deployment Mode, Organization Size, Application (Campaign Management, Customer Behavioral Analysis, and Churn Management), Data Source, Industry Vertical, and Region - Global Forecast to 2025"View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/customer-analytics-market-250688798.htmlThe large enterprises segment to hold a larger market size during the forecast periodLarge enterprises are one of the early adopters of big data and analytics solutions and services.
Thus, the adoption of customer analytics in large enterprises is expected to grow, owing to the huge inflow of customer data from multiple channels and the growing need to generate actionable insights from the customer data.By application, the retail and eCommerce segment to grow at the highest CAGR during the forecast periodCustomer analytics solutions enable companies to send push notifications or emails to profiles that have never made an eCommerce purchase with a discount for an item related to previous purchases, or by displaying a personalized offer.
Advanced customer analytics solutions can leverage ML algorithms to take historical purchase data, calculate the next best offer, and identify products that consumers are most likely to purchaseNorth America to hold the largest market size during the forecast periodThe US and Canada both have heavily invested in Research and Development (R) activities, contributing to the development and growth of technologies.
Increasing customer data through sources, such as clickstream, web server logs, subscriber data, Customer Relationship Management (CRM), and Enterprise Resource Planning (ERP) is compelling companies, such as Adobe and Oracle to launch customer analytics solutions and services to cater to various business and customer needs.
Many customer analytics solution providers in North America are experimenting in the market by integrating advanced big data and analytics technologies with their existing customer analytics solutions.
Customer Analytics Market, By Solution (Web Analytical Tools, Social Analysis Tool, Reporting), By Service (Professional Service, Support and Maintenance Service), By Deployment (Cloud, On-Premise) - Global Forecast 2023Market HighlightsOn the basis of regional analysis, the market is segmented into North America, Europe, Asia-Pacific and Rest of the World.
Digitization in North America is mainly due to the invention of advanced technology and economies benefitting from it.
The implementation of customer analytics solution by both small and medium enterprises is increasing rapidly, especially one into retail sector.
The initial low cost, saving amount spent on infrastructure, automatic software upgrading and seamless integration is driving the market of cloud based customer analytics market.The customer analytics market is expected to grow at approximately USD 7.3 Billion by 2023, at 15% of CAGR between 2017 and 2023.Get a Free Sample @ https://www.marketresearchfuture.com/sample_request/3777Taste the market data and market information presented through more than 30 market data tables and figures spread over 100 numbers of pages of the project report.
The cloud based customer analytics solution provides search filters in terms of website traffic, most popular site and measure campaign performance.
The study indicates that growing demand of digitally stored data and cloud computing is driving the on-premise deployment service.The prominent players in the customer analytics market are- Actuate Software Corporation (U.S.), Angoss Software Corporation (U.S.), Fair Isaac Corporation (Fico) (U.S.), IBM Corporation (U.S.), Oracle Corporation (U.S.), Pitney Bowes (Germany), SAS Institute (U.S.), Teoco Corporation (U.S.), Verint System (U.S.), SAP AG (Germany) among others.Market Research AnalysisThe customer analytics market in North America region is growing due to high adoption of cloud solutions by enterprise and need to improve information governance in organizations.
Customer Analytics Market:WiseGuyReports.com adds “Global Customer Analytics Market Research Report 2020” reports to its database.Executive SummaryGlobal Customer Analytics Market is valued approximately at USD 8.9 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 18.2% over the forecast period 2020-2026.
Customer analytics helps organization to learn the benefits of cloud-based tools and elements like customer data source, data models, processing application, computing power, analytics model and data storage, which further helps them to improve decision making across operations.
For instance: as per Company’s news release in February 2019, Abbott launched innovative new virtual assistant to support and engage pan-India sales force and its name is Maya.
However, data privacy laws and protection of customer data critical for customer analytics is the major factor restraining the growth of global Customer Analytics market during the forecast period.Request Free Sample Report @ https://www.wiseguyreports.com/sample-request/5272723-global-customer-analytics-market-size-study-by-componentThe regional analysis of global Customer Analytics market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World.
North America is the leading/significant region across the world in terms of market share owing to the rising development of customer analytics solution to utilize customer data to stay competition in the market.
Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2026.Major market player included in this report are:Google LLCAdobe Inc.SAP SEMicrosoft CorporationOracleSalesforceSAS InstituteTeradataNICEManthanThe objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years.
