Customer Analytics Market Research Report by Forecast to 2023

Posted by Kiran on November 29th, 2019

Customer Analytics Market Scenario:

On the basis of regional analysis, the market is segmented into North America, Europe, Asia-Pacific and Rest of the World.  North America region is generating highest market share in the customer analytics market owing to better network infrastructure, digitization and higher technology implementation.  Digitization in North America is mainly due to the invention of advanced technology and economies benefitting from it.  North America region is leading due to presence of major players from the region in the customer analytics market. 

The implementation of Customer Analytics Market solution by both small and medium enterprises is increasing rapidly, especially one into retail sector. The customer analytics is gaining demand as organization seek to improve their business growth by shifting from on-premise to cloud based. The initial low cost, saving amount spent on infrastructure, automatic software upgrading and seamless integration is driving the market of cloud based customer analytics market.

The customer analytics market is expected to grow at approximately USD 7.3 Billion by 2023, at 15% of CAGR between 2017 and 2023.

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Major Key Players:

  • Actuate Software Corporation (U.S.),
  • Angoss Software Corporation (U.S.),
  • Fair Isaac Corporation (Fico) (U.S.),
  • IBM Corporation (U.S.),
  • Oracle Corporation (U.S.),
  • Pitney Bowes (Germany),
  • SAS Institute (U.S.),
  • Teoco Corporation (U.S.),
  • Verint System (U.S.),
  • SAP AG (Germany)

The customer analytics market has been segmented on the basis of deployment, solution and service. The cloud based customer analytics solution provides search filters in terms of website traffic, most popular site and measure campaign performance. 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.

Regional Analysis:

The customer analytics market in North America region is growing due to high adoption of cloud solutions by enterprise and need to improve information governance in organizations. According to the study, the customer analytics market will show rapid growth in Europe region. Asia-Pacific market is estimated to be one of the fastest growing market as it is continuously investing into research and development of customer analytics market and growing e-commerce trends to attract more customer s is driving customer analytics market in the region. Increasing population, and growing IT landscape is boosting the market in the region.

The region is witnessing high adoption of customer analytics tools by enterprises. Developing countries such as India and China are adopting Customer analytics software at a large scale owing to increasing e-commerce industries, competitive advantage, growing retail sector is boosting the market in the region. By vertical segment, BFSI and retail sector is driving the customer analytics market. The region is witnessing high growth in customer analytics market due to growing technological advancement in cloud, analytics and mobile technologies.     

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