Customer Journey Analytics Market Size & Analysis - Forecasts To 2025 By Application (Campaign management, Customer Segmentation, Targeting, Customer Behavioural Analysis), By Touch Point (Mobile, Email, Web, Social Media), By Component( Software, Services), By Deployment (On premise, Cloud), By Vertical, By Organisation size, By Region (North America, Europe, Asia Pacific, Central & South America, Middle East & Africa), End-use Landscape, Vendor Landscape, and Competitive Landscape - Global Market Estimates
Customer Journey Analytics Market Insights
The customer journey analytics market is expected to grow at a CAGR of more than 20% over the forecast period. The increasing growth of the market is due to the need for consistent customer experience throughout the journey, for competitive differentiation, and for reducing churn out rate of customers.
The customer journey analytics market is segmented by application where the campaign management application dominates the market in 2016. It is expected to dominate the market in the forecast period as well due to an increasing need to maximise campaigns based on individual customary journey patterns and designs.
The tailored patterns help in acquiring or retaining customers. The other application which is expected to grow at a fast rate in the forecast period is the product management application. Its growth is due to the customer journey mapping to incorporate new features, functions, and prices of the product.
Customer Journey Analytics Market: Touch point and Component Insights
The customer journey analytics market report has touch point as a segment which has seen a high growth in the email segment. It is expected to grow at a high CAGR in the forecast period due to its increasing usage in promoting new offers and resolving queries. The next segment growing at a fast pace is the mobile segment; this is due to the fast growth of interactions and transactions through mobile apps coupled with growing adoption of smartphones among users.
On the basis of components, the market is segmented into software and services. The vendors in the customer journey analytics market provide softwares' that aid organizations with the data collection and analysis. This, in turn, generates meaningful insights of the user sentiments, the voice of the customer and the volume of the interaction. The data is analyzed in different formats such as video, images, audio, or texts by the customer journey software analytics.
Customer Journey Analytics Market: Deployment Insights
On the basis of deployment, the market is segmented into on-premise and cloud-based solutions. The cloud-based solution is expected to grow at a high CAGR in the forecast period due to the benefits it has such as cost control, resource pooling, and less implementation time.
Customer Journey Analytics Market: Vertical and Organisation size Insights
The eCommerce and retail vertical is expected to grow at a high CAGR during the forecast period. It is used in the customer journey analytics market by vendors to figure out the customer segments, brand management, to improvise product features, and measure campaign performance. On the basis of the organization size, the customer journey analytics market is segmented into SMEs and Large enterprises wherein the large enterprises are projected to dominate the market during the forecast period.
Customer Journey Analytics Market: Regional Insights
North America is expected to dominate the customer journey analytics market in the forecast period due to its early adoption of new technologies and presence of major industry players in the region. The APAC region is expected to grow at a high CAGR owing to its fast adoption of customer journey software and services among SMEs.
Customer Journey Analytics Market: Competitive Insights
Key players in the customer journey analytics market are IBM Corporation (The U.S.), Salesforce.com, Inc. (The U.S.), Adobe Systems Incorporated (The U.S.), SAP SE (Germany), NICE Ltd. (Israel), Verint Systems Inc. (The U.S.), Pointillist (Luxembourg), ClickFox (The U.S.), Quadient (Switzerland), Kitewheel (The U.S.), Servion Global Solutions Ltd. (India), and CallMiner, Inc. (The U.S.).
Please note: This is not an exhaustive list of companies profiled in the report.
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The Customer Journey Analytics Market has been studied from the year 2016 till 2025. However, the CAGR provided in the report is from the year 2017 to 2025. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Customer Journey Analytics Market .
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies and customer analytics.
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