Global Customer Journey Analytics Market
The Global Customer Journey Analytics Market was valued at USD 4.56 billion in 2016 and is projected to reach USD 25.39 billion by 2025, growing at a CAGR of 21.02% from 2017 to 2025.
Customer Journey Analytics is a term used for a specific kind of business analytics linked to a customer journey or sequential customer experience. In customer journey analytics, human analysts look at compiled information from analytics software that shows how a customer interacts with a business over time. Customer journey analytics system helps to reduce costs, understands customer emotions, improves customer interactions, manages customer data, ease for data integration, increases sales, and provides greater customer and employee satisfaction.
1. Market Drivers
1.1 Increasing demand for virtual touchpoints
1.2 Increasing need for insights to predict customer intents
1.3 Rising demand for consistent customer experience
1.4 Reduction in churn rate of customers
1.5 Growing need for competitive differentiation
2. Market Restraints
2.1 Concerns for data security and privacy
2.2 Increasing complexities with data synchronization
The Global Customer Journey Analytics Market is segmented on the organization size, component, deployment model, application, touch point, vertical, and region.
1. Organization Size:
1.1 Large Enterprises
1.2 Small and Medium Organizations
2. By Deployment Mode:
3. By Component:
3.2.1 Managed services
3.2.2 Professional services
220.127.116.11 Support and maintenance services
18.104.22.168 Consulting services
4. By Application:
4.1 Product management
4.2 Customer segmentation and targeting
4.3 Campaign management
4.4 Customer behavioral analysis
4.5 Customer churn analysis
4.6 Brand management
5. By Touchpoint:
5.2 Call center
5.5 Social media
6. By Vertical:
6.2 Government and Defense
6.3 IT and Telecom
6.4 Banking, Financial Services, and Insurance (BFSI)
6.5 Travel and Hospitality
6.6 Retail and e-commerce
7. By Region:
7.1 North America (U.S., Canada, Mexico)
7.2 Europe (Germany, UK, France, Rest of Europe)
7.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
7.4 Latin America (Brazil, Argentina, Rest of Latin America)
7.5 Middle East & Africa
The major players in the market are as follows:
1. IBM Corporation
3. Adobe Systems
9. Verint Systems
11. Nice Systems
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
RESEARCH METHODOLOGY OF VERIFIED MARKET INTELLIGENCE:
Research study on the Global Customer Journey Analytics Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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