Harrisburg, NC -- (SBWire) -- 02/18/2019 --Global Customer Analytics Market - Segmented, by Deployment Type, Solutions (Social Media Analytical Tool, Web Analytical Tool, Dashboard and Reporting Tool), Services, End-user Industry, and Region - Growth, Trends, and Forecast (2019 - 2023) The report is segmented by Deployment Type (On-premises, Cloud-based), Solutions (Social Media Analytical Tools, Web Analytical Tools, Dashboard and Reporting Tools, Voice of Customer, ETL, Analytical Modules), Services (Managed Services, Professional Services), End-user Industry, and Region.
The Customer Analytics market is expected to register a CAGR of over 18.02% during the forecast period (2018 - 2023).
Major Players: ADOBE SYSTEMS INC, ALTERYX INC, ANGOSS SOFTWARE CORPORATION, AXTRIA, INC, BRIDGEI2I ANALYTICS SOLUTION, FAIR ISAAC CORPORATION, IBM CORPORATION, MANTHAN SOFTWARE SERVICES PVT. LTD, MICROSOFT CORPORATION, NGDATA, INC, ORACLE CORPORATION, PITNEY BOWES INC, SALESFORCE.COM INC, SAP SE ADR, SAS INSTITUTE INC, TEOCO CORPORATION, TIBCO SOFTWARE, INC and VERINT SYSTEMS, among others.
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The Customer Analytics are primarily utilized for dairy products, soft drinks, and water catering in diverse shapes and sizes to various consumers. The rising preference for easy-to-carry liquid foods is expected to boost the demand for these packaging cartons, thereby, fueling the market growth. The changing lifestyle of people coupled with the convenience of utilizing carton packaging is projected to propel the market. In addition, Customer Analytics have an edge over the glass and plastic packaging, in terms of environmental-friendliness and recyclability of the material, which mitigates the wastage and reduces the product cost. Thus, the aforementioned factors are expected to drive the Customer Analytics market growth over the projected period.
Growing Investments in Analytics Fueling the Growth of the Customer Analytics Market:
Customer analytics have taken a significant role in improving the customer experiences. Both prescriptive and predictive analytics are necessary for a thorough understanding of the customer experience. With the growing trend towards investment in customer analytics in full swing, this business function is expected to rank high on the management agenda. In recent years, many organisation have invested in analytics technology related to customer experience. Customer experience is one of the primary application areas of Big Data analytics. There is a change in enterprises perception of data usage, collection, and analysis, as there is an increase in demand for Big Data projects to improve the customer experience. Verticals, like e-commerce and retail focus significantly on customers buying behavior, while telecommunications are focusing on reducing the churn probability.
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Key Developments
February 2018: TEOCO Corporation, the leading provider of analytics, assurance and optimization solutions to over 300 communication service providers (CSPs) and OEMs worldwide, has upgraded the analytics capabilities of Mentor, its network optimization and analytics solution, and added support for Big Data infrastructure
January 2018: Manthan Software Services Pvt. Ltd, a global leader in AI-powered advanced analytics solutions and a well-recognized innovator in bringing path-breaking solutions to retailers worldwide, would be showcasing its technology innovations, vital for retailers to operate customer-obsessed businesses, at National Retail Federation (NRF)
North America is the Major Contributor:
North America region dominated the customer analytics market in 2017 where United States is leading the market. The region accounts for higher share due to the presence of significant analytics players in the region and adoption of customer analytics solution by numerous small and big enterprises. The region is the earliest adopters of cloud technologies and has an advanced infrastructure capability leading to the largest revenue generator for the market. Additionally, the digitization in the region is due to the invention of advanced technology and economies benefiting. This has boosted the growth of customer analytics market in the region.
Reasons to Purchase this Report
Current and future customer analytics market outlook in the developed and emerging markets
Analyzing various perspectives of the market with the help of Porters five forces analysis
The segment that is expected to dominate the market
Regions that are expected to witness the fastest growth during the forecast period
Identify the latest developments, market shares, and strategies employed by the major market players.
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Customer Analytics Market Is Growing at a CAGR of 18.02% From 2019 to 2023