Customer Journey Analytics Market Research Report by Forecast to 2023
Pune, India -- (SBWIRE) -- 12/06/2017 -- Market Highlights: The key players in the global customer journey analytics market include- Acxiom, Adobe Systems, Salesforce, IBM, Nice Systems, Verint Systems, SAP, Pointillist, Clickfox and Quadient among others.
Regionally, North America accounted for the largest market share from countries such U.S., Canada, and Mexico. The reason is attributed to growing demand for high technology adoption in IT industry and other industries like healthcare, retail, and entertainment in the region. However, Asia Pacific is expected to be the fastest growing over the forecast period, 2017-2023.
The global customer journey analytics market can be segmented on the basis of interaction type, deployment model, organization size, application, end-user and region.
Based on interaction type, the market is segmented into web, social media, mobile, email, branch/store, and call center and others. Based on deployment model the customer journey analytics market is segmented into on-premises and cloud. Small and medium-sized enterprises (SMEs) and large enterprises are the organization size segments of the customer journey analytics market. The applications covered by the customer journey analytics include customer journey mapping and visualization, customer behavioral analysis, customer attrition analysis, campaign management, brand management, product management and others. Banking, financial services, and insurance (BFSI), retail and eCommerce, government and defense, healthcare, telecommunications and IT, media and entertainment, travel and hospitality, automotive and transportation and others (education and real estate) are the end-users of the customer journey analytics market.
Geographically, the market is segmented into North America, Europe, Asia Pacific and Rest of the World. The regional segment is further bifurcated into U.S., Canada, Mexico, UK, France, Germany, China, Japan and India.
The booming IT industry coupled with increasing cloud facilities in North America helps to grow the Customer Journey Analytics demand in North America. Asia Pacific is expected to be the fastest growing market due to the increasing industrialization and new data centers in the emerging countries like India and Japan.
Furthermore, factors such as benefits of cloud-based deployment like its cost effectiveness and easy availability expected to grow the customer journey analytics market. However, some factors such complexity of data synchronization may hamper the growth of the overall market.
The global 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 software portfolio. The customer journey analytics market is highly competitive due to the presence of several large vendors.
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Major Key Players:
- Adobe Systems
- Nice Systems
- Verint Systems
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.
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.
For the purpose of this study, Market Research Future has segmented the market of customer journey analytics into interaction type, deployment model, application, end-user and region.
By Interaction Type
- Social media
- Call center
- Others (surveys, promotional events, and sales representatives)
By Deployment Model
By Organization Size
- Small and Medium-Sized Enterprises (SMEs)
- Large enterprises
- Customer Journey Mapping and Visualization
- Customer behavioral analysis
- Customer attrition analysis
- Campaign management
- Brand management
- Product management
- Others (customer process management)
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- Banking, Financial Services, and Insurance (BFSI)
- Retail and eCommerce
- Government and Defense
- Telecommunications and IT
- Media and Entertainment
- Travel and Hospitality
- Automotive and Transportation
- Others (Education and Real Estate)
Table of Contents
1 Market Introduction
1.2 Scope of Study
1.2.1 Research objective
1.3 Market Structure
2 Research Methodology
2.1 Research Network Technology Software
2.2 Primary Research
2.3 Secondary Research
2.4 Forecast Model
2.4.1 Market Data Collection, Analysis & Forecast
2.4.2 Market Size Estimation
List of Tables
Table 1 Customer Journey Analytics Market, By Interaction Type
Table 2 Customer Journey Analytics Market, By Deployment Model
Table 3 Customer Journey Analytics Market, By Organization Size
List of Figures
Figure 1 Research Methodology
Figure 2 Customer Journey Analytics Market, By Interaction Type (%)
Figure 3 Customer Journey Analytics Market, By Deployment Model (%)
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