CRM Analytics Market Overview by Technological Growth, Trends, Share and Prominent Key Players (ORACLE CORPORATION, SAP SE, IBM, MICROSOFT, SAS INSTITUTE, ACCENTURE, INFOR) | Global Forecasts 2018 – 2023

The global CRM Analytics market was valued at USD 6.26 billion in 2017, and is expected to reach a value of USD 12.91 billion by 2023, at a CAGR of 10.86%, during the forecast period (2018 - 2023). The scope of the report covers various CRM analytics solutions, which include by type customer analytics, contact center analytics, social media analytics, and sales and marketing analytics. The end-user industries are limited to health care, retail, energy and utilities, transportation and logistics, media and entertainment. While the region considered in the scope of the report include North America, Europe, Asia pacific, Middle East & Africa, and Latin America.

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North America Region Accounts for a Major Market Share

Owing to the large volume of data generation and increasing awareness for customer retention. APAC is expected to be the fastest growing in the CRM analytics market, owing to the emergence of small, medium enterprises, and competition among enterprises to retain the valuable customers. Other factors, such as increasing industries of BFSI, telecommunications and IT, healthcare and life science, transportation and logistics, and others are fuelling the growth of the market.

Key Developments in the Market

October 2017: Oracle announced that it has agreed to buy digital ad measurement cloud company Moat for an undisclosed sum. Moat will become a subsidiary of Oracle, operating within the auspices of its Oracle Cloud Data division, although the company was careful to mention that the acquired company will continue to operate independently. Moat has grown its attention analytics business by over 100% in the past year, providing actionable insights around view ability, brand safety, non-human traffic, and ad creative to over 600 publishers. With the Moat acquisition, Oracle Data Cloud now offers brands and publishers a full suite of targeting and measurement solutions to improve the outcome of virtually every type of digital advertising campaign.

The major players include –

ORACLE CORPORATION, SAP SE, INTERNATIONAL BUSINESS MACHINES CORPORATION, MICROSOFT CORPORATION, SAS INSTITUTE, INC., ACCENTURE PLC, INFOR, TERADATA, and ANGOSS SOFTWARE CORPORATION and SALESFORCE, amongst others.

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Need For Comprehensive Understanding of consumer Behavior

In the current scenario, the consumer behavior across end user industries is incredibly dynamic and it has become extensively complex to track such a heap of data, which creates the need for tools. It is CRM analytics tool that helps to comprehend customer behavior, interpret attitudes, identify patterns, and further analyses the data insights & structure personalized campaigns for products, which is a major reason for the boost in the market, during the forecast period.

Marketing Analytics Accounted For the Largest Market Share

The dire need for an enterprises marketing team to design a plan, execute, and evaluate campaigns across various platforms is tedious task without tools, where CRM analytics does the needful, as it helps various companies to run a number of campaigns and engage customers across channels to exhibit the impact of the marketing investments on the real-time basis and build the sales pipeline.

Banking, Financial Services is the Fastest Growing Market

CRM Analytics is essential to ensure the banking industry meets the challenges it faces. However, while necessary reporting and descriptive analytics continue to be mandatory for banks, u2018intelligent analytics’ is still an under-utilized area. Banks are developing an understanding the untapped revenue generation and cost saving potential that CRM analytics provides which makes it the fastest growing sector during the forecast period.

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