Customer Journey Analytics Market 20.8% CAGR to 2022 Led by BFSI Vertical
PUNE, India, October 12, 2017 /PRNewswire/ --
The global customer journey analytics market size will reach $12.22 billion by 2022 from $4.76 billion in 2017 at a CAGR of 20.8% between (2017-2022) driven by the need for providing consistent customer experience throughout customer journey and reducing churn out rate of customers, and rising need for competitive differentiation, while North America is expected to hold the largest market share according to ReportsnReports.com.
Browse 87 Market Data Tables and 41 Figures spread through 172 Pages and in-depth TOC on "Customer Journey Analytics Market by Application (Customer Segmentation and Targeting, Customer Behavioral Analysis, Campaign Management), Touchpoint, Component, Deployment Model, Organization Size, Vertical, and Region - Global Forecast to 2022" http://www.reportsnreports.com/reports/1206954-customer-journey-analytics-market-by-application-customer-segmentation-and-targeting-customer-behavioral-analysis-campaign-management-touchpoint-component-deployment-model-organization-size-vertical-and-re-st-to-2022.html .
The major vendors providing customer journey analytics software and services include IBM Corporation (US), Salesforce.com, Inc. (US), Adobe Systems Incorporated (US), SAP SE (Germany), NICE Ltd. (Israel), Verint Systems Inc. (US), Pointillist (Luxembourg), ClickFox (US), Quadient (Switzerland), Kitewheel (US), Servion Global Solutions Ltd. (India), and CallMiner, Inc. (US).
The customer journey analytics market in APAC is projected to grow at the highest rate during the forecast period. Rising adoption of smart phones and increased need for integrating and analyzing the data generated through multiple channels are expected to drive the market growth in the APAC region. The customer buying behavior in the region is experiencing change, shifting from traditional shopping to online shopping. The social media usage has driven the growth of the ecommerce industry, which is a major growth factor of the market in this region.
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The campaign management application in customer journey analytics market is estimated to hold the largest market size in 2017. The trend is expected to continue during the forecast period. Businesses need to adopt cross-channel campaign management strategies and unify the cusomer data gathered through a number channels to deliver the right message to customers at the right time. Moreover, the need to optimize the campaign management activities through personalized channels, offline or online, would foster the growth of customer journey analytics solutions.
North America is expected to hold the largest customer journey analytics market share. Enterprises are recognizing the importance of providing personalized, engaging, and efficient customer experience to drive customer brand loyalty, acquisition, and customer lifetime value. Moreover, customer journey analytics helps to reduce customer churn rate through real-time alerts to marketing professionals. However, the complexity in data synchronization gathered through multiple touch points has been limiting the market growth. Factors such as major focus on virtual touch point to reduce cost and time spent on feedback management, and need to predict customer behavior based on customer intents would provide attractive opportunities for the market growth.
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In the process of determining and verifying the customer journey analytics market size for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted with key people. The break-up of the profiles of the primary participants is given below:
- By Company: Tier 1-22%, Tier 2-30%, and Tier 3-48%
- By Designation: C-level-30%, Director level-45%, and Others-25%
- By Region: North America-48%, Europe-30%, and APAC-22%
The report segments the customer journey analytics market based on components, which include software and services; the services segment is segmented into managed services and professional services. The report covers Banking, Financial Services, and Insurance (BFSI); retail and ecommerce; telecommunications and IT; energy and utilities; manufacturing; automotive and transportation; government and defense, healthcare and life sciences; media and entertainment; travel and hospitality; and other verticals. The market is segmented into 5 major regions: North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA).
Another research titled Social Media Analytics Market Global forecast to 2022 says, the global social media analytics market size is expected to grow from $2.71 billion in 2017 to $9.54 billion by 2022, at a CAGR of 28.6%. Sales and marketing management application is expected to record the largest market size in 2017 in the social media analytics market. Asia Pacific (APAC) is projected to grow at the highest rate during the forecast period. Companies such as Sales force (US), Oracle Corporation (US), SAS Institute Inc. (US), Adobe Systems Incorporated (US), International Business Machines Corporation (US), GoodData Corporation (US), Brandwatch (UK), Clarabridge, Inc. (US), Digimind(US), Crimson Hexagon, Inc. (US), Sysomos (Canada), Simply Measured, Inc. (US), Talkwalker Inc. (Luxembourg), Unmetric Inc. (US), Netbase Solutions, Inc. (US), Cision US Inc. (US), Simplify360, Inc. (India), Hootsuite Media Inc. (Canada), Meltwater (US), Germinait Solutions Private Limited (India), Socialbakers (US), Spredfast, Inc. (US), Sprinkler, Inc. (US), Lithium Technologies, Inc. (US), Synthesio (US), Tableau Software Inc. (US) have been profiled in this 186 pages research report available athttp://www.reportsnreports.com/reports/473878-social-media-analytics-market-by-type-applications-customer-segmentation-targeting-multichannel-campaign-management-competitor-benchmarking-customer-behavioral-analysis-marketing-measurement-vertical-region-global-forecast-to-2020.html .
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