Global Customer Journey Analytics Market Trends, Applications, Analysis, Growth, and Forecast: 2018 to 2027
MarketResearch.biz delivers in-depth insights on the global customer journey analytics market in its upcoming report titled, “Global Customer Journey Analytics Market Trends, Applications, Analysis, Growth, and Forecast: 2018 to 2027”. The global customer journey analytics market is estimated to register a CAGR of X.X% in terms of value during forecast period 2018–2027. The report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global customer journey analytics market report has been segmented on the basis application, touchpoint, component, deployment, organization vertical and region.
In order to measure customer experience which is often referred as customer journey is linked to analytical tool called customer journey analytics. The tool provides an assembled information that shows how a customer interacts with a business or brand over a period of time. Customer journey analytics enables the ability to understand how exactly a customer thinks, feels and reacts at each step of the journey and also which step in the journey is causing concern or frustration. Customer journey analytics applies a combination of technologies which includes contact reasoning across channels which automatically assigns a reason for all customer contacts based on speech, text, desktop and transaction analytics. It tracks where customers began and ended their interactions. Contact sequencing, which identifies the customer in each interaction and transaction and connects the dots between them. Predictive analytics detects and analyses cross-channel behaviour patterns, enabling to make future calls and reduce customer effort.
Increasing demand for personalized customer experience is the key factor driving the growth of the market in the forecast period. Customers expect to be treated as individuals with specific preferences, due to which the focus has been shifted to personalized brand interactions. Increasing adoption of customer journey analytics is the ongoing trend observed. It drives the customer acquisition, brand loyalty and customer lifetime value. The emphasis is to develop a unified view of the customer as they interact to a brand and personalizing customers experience across channels, locations and always in the moment. In order to achieve this combined customer experience, customer analytics must grow from retrospective reporting to real-time, behaviour-driven engagement. Customer journey analytics is the key to enable this transformation.
However, difficulty in consistency of data is the factor which hinder the growth of the market over the forecast period. It is important that all events are properly tracked across the various customer touchpoints. Furthermore, a customer should be uniquely identifiable across all touchpoints so that the corresponding information can be correctly matched.
The market in North America dominates the global customer journey analytics market in terms of revenue. The market in Asia Pacific is projected to have fastest growth with highest CAGR, owing to increasing adoption for customer journey analytics services is expected to boost growth of the global customer journey analytics market.
Segmentation on the basis of application:
- Customer segmentation and targeting
- Customer behavioural analysis
- Customer churn analysis
- Campaign management
- Brand management
- Product management
- Others (customer loyalty and process management)
Segmentation on the basis of touchpoint
- Social media
- Call center
- Others (surveys, promotional events, and sales representatives)
Segmentation on the basis of component
- Managed services
- Professional services
Segmentation on the basis of deployment
Segmentation on the basis of organization:
- Small and Medium-Sized Enterprises (SMEs)
- Large enterprises
Segmentation on the basis of vertical:
- Banking, Financial Services, and Insurance (BFSI)
- Retail and ecommerce
- Healthcare and Life Sciences
- Telecommunications and IT
- Government and Defence
- Energy and Utilities
- Media and Entertainment
- Travel and Hospitality
- Automotive and Transportation
- Others (Education and Real Estate)
Segmentation on the basis of region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2019 Estimated Year 2020 Forecast Period 2020–2029 Revenue in US$
- Verint Systems Inc.
- IBM Corporation
- com, Inc.
- Adobe Systems Incorporated
- SAP SE
- NICE Ltd.
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