Customer Analytics - Global Market Outlook (2018-2027)
According to Stratistics MRC, the Global Customer Analytics market is accounted for $7.33 billion in 2018 and is expected to reach $36.97 billion by 2027 growing at a CAGR of 19.7% during the forecast period. Some of the key factors propelling the market growth include need to understand customer buying behaviour for a more personalized customer experience, rising demand for improved customer satisfaction, increase in social media concern to address customer behaviour. However, data security and privacy concern is restraining the market growth.
Customer analytics is defined as information collected of customer behaviour that is going to help business to make key decision through predictive analytics and market segmentation. It enables organization by providing them with efficient information about customer’s behaviour when interacting with their organization, so organization can respond accordingly. The various benefit of customer analytics, such as better decisions is made with data, which led to rising the demand for the customer analytics.
By organization size, large enterprises segment is expected to have lucrative growth during the forecast period, due to the huge inflow of customer data from multiple channels and growing need to generate actionable insights from the customer data. Large enterprises are one of the early adopters of big data and analytics solutions and services. Large enterprises invest on enhancing customer experiences to take a leading edge in the market. Thus, large organizations have started adopting customer journey analytics solutions that are able to extract meaningful real-time insights.
On the basis of geography, North America is expected to have considerable market growth during the forecast period, due to rising customer information through numerous data sources is forcing new development and better integrations in new and existing customer analytics solutions and services to cater to various business and customer needs. The region is led by the US and Canada, where organizations are has deployed customer analytics solutions to utilize customer data to stay competitive in the market.
Some of the key players in customer analytics market include Adobe Systems Inc., Alteryx Inc., Angoss Software Corporation, Axtria Inc., Bridgei2i Analytics Solution, Fair Isaac Corporation, IBM Corporation, Manthan Software Services Pvt. Ltd, Microsoft Corporation, NGDATA Inc., Oracle Corporation, Pitney Bowes Inc., Salesforce.Com Inc., SAP SE , SAS Institute Inc., Teoco Corporation, TIBCO Software Inc., Verint Systems, Google, and Clarity Insight.
Deployment Modes Covered:
Data Sources Covered:
• Social Media
• Call Center
Organization Sizes Covered:
• Small and Medium-Sized Enterprises (SMEs)
• Large Enterprises
• Customer Behavioral Analysis
• Product Management
• Brand Management
• Campaign Management
• Churn Management
• Customer Segmentation and Targeting
End Users Covered:
• Media and Entertainment
• Travel and Hospitality
• Banking, Financial Services, and Insurance (BFSI)
• Retail and eCommerce
• Transportation and Logistics
• Government and Defense
• Healthcare and Life Sciences
• Telecommunications and IT
• Energy and Utilities
• Consumer Goods
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2017, 2018, 2019, 2023 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
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