Market Analysis
The global customer journey analytics market is anticipated to touch USD 14.92 billion at a 20% CAGR between 2017- 2023 states the recent Market Research Future (MRFR) analysis. Customer journey analytics, simply put, is the weaving together of each touchpoint which a customer interacts with, across different channels over time. Product management, brand management, campaign management, customer attrition analysis, customer behavioral analysis, customer journey and mapping, and others are its different applications.
Various factors are propelling the global customer journey analytics market share. As per the current MRFR report, such factors include an increase in the accessibility of real-time data & digitalization, expanding retail industry, demand for constant customer support all through the business interaction, and focus on virtual points. Besides, the ongoing COVID-19 outbreak has made people dependent on e-commerce to keep away from social gatherings. Along with this, the gaming, food delivery service, and healthcare sectors have resulted in the growing demand for customer journey analytics for determining buying preferences, which are adding market growth.
On the contrary, data privacy issues and complexity in data synchronization are factors that may limit the global customer journey analytics industry growth over the forecast period.
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Market Segmentation
The MRFR report provides an inclusive customer journey analytics market segmental analysis of the report based on end user, application, organization size, deployment model, and interaction type.
- By interaction type, the global customer journey analytics market is segmented into call center, branch/store, email, mobile, social media, web, and others. Of these, the email segment will lead the market over the forecast period.
- By deployment model, the global customer journey analytics market is segmented into cloud and on-premises. Of these, the cloud deployment model will dominate the market over the forecast period.
- By organization size, the global customer journey analytics market is segmented into large enterprises and small & medium-sized enterprises (SMEs). Of these, large enterprises will have a major share in the market over the forecast period.
- By applications, the global customer journey analytics market is segmented into product management, brand management, campaign management, customer attrition analysis, customer behavioral analysis, customer journey and mapping, and others. Of these, campaign management will spearhead the market over the forecast period.
- By end users, the global customer journey analytics market is segmented into automotive and transportation, travel and hospitality, media and entertainment, telecommunications and IT, healthcare, government and defense, eCommerce, and others. The others segment is again segmented into education & real estate. Of these, the eCommerce segment will have the lions share in the market over the forecast period.
Regional Analysis
Based on the region, the global customer journey analytics market report covers the growth opportunities and recent trends across the Asia Pacific (APAC), North America, Europe, & the Rest of the World (RoW). Of these, North America will have the lions share in the market over the forecast period. Increasing adoption of technology, presence of several data centers, growing use of cloud technology, booming automotive industry, established IT infrastructure, growing retail and eCommerce, and the presence of key industry players are adding to the global customer journey analytics market growth in the region. Mexico, the US, and Canada have the largest share in the market.
The global customer journey analytics market in Europe is predicted to hold the second-largest share over the forecast period. The initiation of the cloud computing strategy is adding to the global customer journey analytics market growth in the region.
The customer journey analytics market in the APAC region is predicted to grow at a fast pace over the forecast period. Emerging IT industry in Japan and India, rapid industrialization in India and China, and the growing telecommunication, retail, healthcare, and automotive industry are adding to the global customer journey analytics market growth in the region.
Key Players
Eminent players profiled in the customer journey analytics market report include Quadient, Clickfox, Pointillist, SAP, Verint Systems, Nice Systems, IBM, Salesforce, Adobe Systems, and Acxiom, among others.
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