Customer Analytics Market Demand, Industry Size, Top Players, Opportunities

Posted by shweta raj on June 28th, 2021

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 2027

Market Synopsis

According to the customer analytics market is expected to grow at approximately USD 7.3 Billion by 2027, at 15% of CAGR between 2020 and 2027.

Market Scenario

The main drivers of the market for customer analytics are that competition between companies and increasing demand for better customer service is fueling the growth of the market for customer analytics. The market studied is growing more rapidly due to the increasing demand for better customer service. Throughout the retail sector, consumer analytics is used extensively to develop customized interactions and marketing programmes. Growth in the concern of social media is a key driver for studied market. Social media analytics incorporates tracking, measurement and analysis tools to reveal consumer and company feelings with customers through social media platforms by linking their product list with e-commerce sites, The growing demand and ownership of smartphones has created the illusion that they are advertising mobile value-added services right around the corner. Constant customer-specific modification and optimization of services is expected to have a positive impact on telecom operators and service providers in the mobile value-added services market , particularly in the education, advertisement, and IT and telecommunications industries. Mobile value-added services are expected to expand significantly across all industrial verticals during the forecast period. Increasing ownership of smartphones along with a growing need for personalized services.

Market Segmentation

The global Customer analytics market is segmented on the basis of deployment, solution, service, organization size, and vertical. 

This covers data processing, predictive software, and social media analytics software, customer voice, web analytics platform, dashboard, and reporting by application group. Social media analysis tools allow company to gain competitive advantage by improving business awareness, enhancing product and service processes, providing deep insight into consumer purchasing behaviour and promoting industry innovation.

Based on deployment, the customer analytics market is segmented into cloud and on-premise. The cloud-based customer analytics system offers website traffic search filters, the most common website and the performance monitoring program. Cloud solution enable organization by providing drag and drop function and offers roll-based workflow. The study indicates that growing demand of digitally stored data and cloud computing is driving the on-premise deployment service.

Customer analytics Market by Organization Size, is segmented into Small & Medium Enterprises and Large Enterprises.

Customer analytic Market by Vertical, is segmented into Government & Defence, BFSI, IT & Telecommunication, Healthcare, Retail, Manufacturing, Travel & Hospitality, Transportation & Logistics, media & Entertainment and Others

Regional Outlook

The regional analysis of customer analytics market has been conducted on Asia pacific, Americas, Europe and Rest of the World. 

Thanks to the presence of major players in the area and the adoption of customer analytics solution by small and large businesses, North America has the largest market share in the customer analytics industry. Countries like the US and Canada are contributing significant quantities of revenues in the region's customer analytics sector.

North America's digitization is largely due to the advent of new technologies, and the societies that benefit from it. Small and medium-sized businesses are growing rapidly implementing customer analytics solution, particularly one for the retail sector. Customer analytics are increasing interest as companies are looking to boost their business growth by switching from on-site to cloud-based. The initial low cost, cost savings on infrastructure, automated product updates, and seamless integration drives the cloud-based customer analytics industry.

Asia-Pacific area is expected to rise at the highest CAGR. Companies in the region are investing heavily in customer analysis tools to increase business performance and competitiveness and increasing e-commerce in the region is boosting the region's market.

Competitive Dynamics

The major players in the customer analytics market are – Fair Isaac Corporation (Fico) (U.S.), Angoss Software Corporation (U.S.), IBM Corporation (U.S.), Pitney Bowes (Germany), SAS Institute (U.S.), Teoco Corporation (U.S.), Actuate Software Corporation (U.S.), Verint System (U.S.), Oracle Corporation (U.S.), SAP AG (Germany) among others.

Access Full Report @ https://www.marketresearchfuture.com/reports/customer-analytics-market-3777

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