Customer Analytics Market: Opportunities and Forecast Assessment, 2020–2027

 

As per GMI Research's latest analysis, Global Customer Analytics Market reveals that the market is slated to register a higher CAGR in the upcoming years. This is attributed to the strong demand to know customer behavior to offer an improved and personalized experience to the target customers and the high adoption of advanced technologies including ML, AI, and business process automation to organize market operations.

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Customer Analytics Market’s leading Manufacturers:

·         Google LLC

·         Adobe, Inc.

·         SAP SE

·         Microsoft Corporation

·         SAS Institute

·         Oracle Corporation

·         com, Inc.

·         Teradata Corporation

·         Manthan Systems

·         Mixpanel

Customer Analytics Market Dynamics (including market size, share, trends, growth, forecast, and industry analysis)

Key Drivers

The strong demand to know customer behavior to offer an improved and personalized experience to the target customers and the high adoption of advanced technologies including ML, AI, and business process automation to organize market operations are the key drivers responsible for the growth of the global customer analytics market size. Customer analytics extracts different purchasing patterns of the customer in order to personalize marketing operations. Technologies like machine learning and artificial intelligence aid marketer in analyzing customer behavior. Furthermore, the rising use of social media is one of the emerging customer analytics trends that is bolstering the growth of the customer analytics market. All these technologies aid in disclosing customer sentiments and developing businesses with customers who are utilizing social media platforms by linking their product list with e-commerce sites, which is propelling the growth of the customer analytics market. On the other hand, the rising concerns regarding data security and privacy will hinder the market growth.

Deployment mode Segment Drivers

Based on the deployment mode, the cloud is predicted to rise at a higher CAGR during the forecast period due to the high adoption of the cloud-based solution, including Software-as-a-Service among organizations as a result of its quick accessibility feature. Moreover, it provides various benefits over on-premises solutions that include cost-efficient, adaptability, easy implementation, and high scalability. Small and medium-sized organizations are largely opting for cloud solutions owing to their lower cost, all-time support, and easy maintenance properties.

Regional Drivers

On the basis of the region, North America is expected to dominate the market over the coming years due to the strong adoption of customer analytics solutions by organizations to stay competitive utilizing customer data. Additionally, owing to the large presence of several customer analytics players that include Microsoft, Oracle, Google, and SAP, further supporting the growth of the customer analytics market.

Customer Analytics Market Segmentation:

Segmentation by Component:

·         Solutions

o    Data Management/Extract, Transform, Load

o    Voice of Customer

o    Analytical Tools

o    Social Media Analytics

o    Dashboard and Reporting

·         Services

o    Professional Services

§   Consulting

§   Integration and Deployment

§   Support and Maintenance

§   Education and Training

o    Managed Services

Segmentation by Deployment Mode:

·         Cloud

·         On-Premises

Segmentation by Application:

·         Brand Management

·         Campaign Management

·         Churn Management

·         Customer Behaviour Analysis

·         Product Management

·         Others

Segmentation by Data Source:

·         Web

·         Social Media

·         Smartphone

·         Email

·         Store

·         Call Center

·         Other Data Sources

Segmentation by Industry:

·         Banking, Financial Services, and Insurance

·         Retail and Ecommerce

·         Telecommunications and Information Technology

·         Energy and Utilities

·         Manufacturing

·         Transportation and Logistics

·         Government and Defense

·         Healthcare and Life Sciences

·         Media and Entertainment

·         Travel and Hospitality

·         Other Industry Verticals

Segmentation by Region:

·         North America

o   United States of America

o   Canada

·         Asia Pacific

o   China

o   Japan

o   India

o   Rest of APAC

·         Europe

o   United Kingdom

o   Germany

o   France

o   Spain

o   Rest of Europe

·         RoW

o   Brazil

o   South Africa

o   Saudi Arabia

o   UAE

o   Rest of the world (remaining countries of the LAMEA region)

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