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Customer Journey Analytics Market 2021: Future Development, COVID-19 Impact, and Revenue Insights Studied in New Researc

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The customer journey analytics market share is expected to grow from 8.5 billion in 2020 to 14.65 billion by the end of 2023, with a compound annual growth rate of 20% during the period of forecast.

Customer Journey Analytics Market Highlights:

Customer Journey Analytics Market report is a fundamental examination concentrate on what separates diverse market viewpoints like market advancement, hindrances, creation volume, and market designs.

The key players in the global customer journey analytics market include

  • Oracle(US)
  • Adobe(US)
  • NICE(US)
  • SAP(Germany)
  • Microsoft (US)
  • Google (US)
  • Thunderhead (UK)
  • NGDATA (Belgium)

The customer journey analytics market is highly competitive. Various established international brands, domestic brands and as well as new entrants form a competitive landscape. The key players are nonstop increasingly seeking market expansion through various strategic mergers and acquisitions, innovation, increasing investments in research and development and cost-effective product portfolio. The customer journey analytics market is highly competitive due to the presence of several large vendors. The competition among the vendors will intensify due to the increase in product extensions and various above mentioned factors. The players in the customer journey analytics market compete on the basis of the factors such as technology, features, design and compatibility. The vendors or the manufacturers are continuously coming up with new ideas and technologies to gain competitive advantage over their competitors.

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Customer Journey Analytics Market Segmentation

  • Based on interaction type, it has sources like web, social media, mobile, email, branch store, call center, surveys, promotional events, and sales representatives.
  • Based on the deployment model, it has on-premises and cloud.
  • Based on organization size, it has small and medium-sized enterprises and large enterprises
  • Based on the application, it has Customer Journey Mapping and Visualization, Customer behavioral analysis, Customer attrition analysis, Campaign management, Brand management, Product management, and customer process management.
  • On the basis of end-user, it has Banking, Financial Services, and Insurance (BFSI), Retail and e-commerce, Government and Defence, Healthcare, Telecommunications and IT, Media and Entertainment, Travel and Hospitality, Automotive and Transportation, and Education and Real Estate.

Customer Journey Analytics Market Regional Analysis:

The global customer journey analytics market is expected to grow significantly over the forecast period, 2017-2023. Customer journey analytics segment market globally drives the market majorly due to growing industries like automotive, healthcare, retail and eCommerce, telecommunication and IT among others. Due to technological advancement, the demand of customer journey analytics is increasing from large scale business operators as well as small and medium size business operators. Due to the small and medium sized businesses in emerging economies the demand of customer journey analytics is increasing continuously and it is expected to grow the customer journey analytics market at fast pace.

The global customer journey analytics market segmented into four main regions such as North America, Asia-Pacific, Europe and Rest of the World. These regions are further bifurcated into various countries including U.S., Canada, Mexico, UK, France, Germany, China, Japan and India.

North America region hold the largest market share (in terms of revenue) of the total customer journey analytics market. It is due to the presence of high technology adoption, number of data centers and adoption of cloud technology in the region. U.S., Canada and Mexico are the countries mainly contributing in the North America customer journey analytics market. Established the IT infrastructure and automotive industry in North America are the primary factors drives the demand of customer journey analytics market in region. Retail and eCommerce industry in North America is showing tremendous growth in last few years due to the leading electronic commerce companies such as Amazon and Alibaba. These large enterprises need to analyze customer experience regularly as well as customer attrition analysis, campaign management and brand management. The presence of the major industry players such as Acxiom, Adobe Systems, Salesforce, IBM, Verint Systems, and Pointillist among others is expected to continue to dominate the customer journey analytics market during the forecast period.

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North America was closely followed by Europe in past few years. Europe has unveiled the cloud computing strategy in 2012 by considering to the growth of cloud computing in Europe. The strategy was designed to speed up and increase the use of cloud computing across all economic sectors and also to encourage the small and medium size business. This helps to incarese the demand of the customer journey analytics.

Asia-Pacific region is expected to grow at fast speed over the forecast period due to the emerging IT industry in countries like India and Japan. The rapid industrialization in Asia Pacific, particularly in China and India helps to grow the customer journey analytics market in Asia Pacific. Booming automotive, healthcare, retail and telecommunication industry in Asia Pacific is projected to be the fastest growing region in coming years.

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