Customer Analytics Market Demographical MRFR Industry Report Margins, Top Key Players at a CAGR of according to Emerge Research Report Forecast By 2027
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Market Scenario:
Due to the increase in
the demand for customer satisfaction in various organizations, the global Customer Analytics Market is estimated to reach
USD 52.61 billion at a CAGR of 17.8% during the ongoing forecast period.
Customer analytics refers to the information of the customers' behavior
collected to help the business make critical decisions with the help of market
segmentation and analytics. Customer analytics mainly helps the organization by
providing them with a proper chart based on the customers' behavior while
interacting with the organization. This, in turn, helps the organization
respond and change its products accordingly.
Customer Analytics is
considered the backbone or the main structure in all organizations and is essential
for all marketing activities. Customer satisfaction is critical when it comes
to marketing products. Nowadays, customers are more connected as they know
where to buy and pay. Hence, understanding and gaining customer insight becomes
important. The deeper an organization understands its customers, the more their
chances of achieving customer satisfaction.
The key driver
responsible for enhancing the customer analytics market share is the insight
into the customers' purchasing behavior. Recently, there has been a particular
growth in social media concern, which is also considered a vital driver of the
customer analytics market. Social media analytics is a combination of
measurement, analytics tools, and monitoring that is helped to uncover the
sentiments of the users and the businesses with customers through various
social media platforms. Well-established retailers have successfully managed to
pull over the benefits offered by the different social media platforms.
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Competitive
Outlook:
Some players in the
market are as follows: Adobe Systems Incorporated (US), HP Inc. (US),Oracle
Corporation (US), IBM Corporation (US), Avaya Inc. (US), Nokia Networks
(Finland), Open Text Corporation (Canada), Tech Mahindra Limited (India)
SDL (UK),
SAS
Institute Inc (US)
Segmentation:
The customer analytics market size is segmented
based on five category heads. These categories are by service, solution,
organization size, deployment, and vertical:
By Service,
·
Maintenance and
Support Services
·
Professional
Services
By Solution,
·
Social Media
Analytical Tools
·
Dashboard
·
Exact Transform
Load or Data Management
·
Web Analytical
Tool
·
Reporting
·
Voice of
Customer (VOC)
·
Analytical
Tools
By Organization Size,
·
Large
Enterprises
·
Medium and
Small Enterprises
·
By Deployment,
·
On-Premise
·
Cloud
By Vertical,
·
Healthcare
·
Hospitality and
Travel
·
Media and
Entertainment
·
Government and
Defence
·
Telecommunication
and IT
·
Manufacturing
·
BFSI
·
Transportation
and Logistics
·
Retail
·
Others
Regional
Analysis:
According to the customer analytics market analysis, the market for
customer analytics is estimated to show massive growth in the coming years.
Among these five regions, the North American region is currently leading the
market as it holds the largest market share in the global market of customer
analytics. The US and Canadian regions contribute significant revenue to
customer analytics. The Asia-Pacific (APAC) region organizations are also
investing a considerable amount in the customer analytics market. Hence, they
are expected to grow at the highest CAGR during the forecast period.
Industry News
In February 2019, IBM introduced a new commerce platform for loyalty
rewards known as BUCKiTDREAM in the international market. It helps to connect
the brands with the consumers. The vision of BUCKiDREAM is to make use of the
data analysis to redefine the industry of consumer loyalty rewards.
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Table of Contents:
1 Executive
Summary
2 Scope of the
Report
2.1 Market Definition
2.2 Scope of the Study
2.2.1 Research objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
Continued…
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