Press release
Customer Analytics Market is estimated to grow at a higher CAGR of 17.5% during 2022-2029 | Size, Share, Trends & Forecast
Customer Analytics Market
For Additional Insights, Click to Access Complete Report - https://www.gmiresearch.com/report/customer-analytics-market/
The factors driving the growth of Customer Analytics Market includes growing popularity of social media platforms such as Facebook and Instagram, expansion of e-commerce platforms, rising focus by companies on enhancing customer's shopping experience and improvements in the living standards. According to the report published by Statista, the social media penetration rates worldwide was calculated around 47% in 2019, this figure is estimated to reach 69% by the end of 2025, which will accelerate the Customer Analytics Market share in the approaching years. Moreover, integration of advanced technologies such as Artificial Intelligence (AI), Machine Learning (ML), Internet of Things (IoT), and Big Data Analytics with customer analytics solutions, rise in the launch of innovative products and rapid urbanization, are some of the additional factors supplementing the Customer Analytics Market size. In addition, the increasing investments by major players on research and development, rising disposable incomes and growing population growth rates, are further contributing towards the market growth.
However, growth of the Customer Analytics Market is hindered due to rising concerns related to data security and privacy.
The prominent players operating in the market are Oracle Corporation, Salesforce.com, Inc., Teradata Corporation, Google LLC, Adobe, Inc., SAP SE, Manthan Systems, Mixpanel, Microsoft Corporation and SAS Institute among others.
Based on Deployment Mode, the Cloud segment is predicted to grow at a significant CAGR during the forecast period
Cloud based solutions can be accessed anytime using internet, software vendors provide 24x7 support and maintenance and are cost-effective, are some of the factors responsible for the segment's growth.
Based on Application, the Product Management segment is projected to expand at a remarkable CAGR over the forecast period
Customer analytics software provides important insights related to customer related to consumers buying pattern and helps organizations to form strategies such as adding new purchase option and product pricing, are propelling growth of the segment.
Based on Region, the North American region is anticipated to capture the largest market share during the forecast period
Presence of the leading players such as Oracle Corporation, Salesforce.com, Inc. and, Google LLC, rapid growth in the e-commerce industry, growing penetration of social media networks, rising population growth rates and high per capita incomes, are some of the additional factors supplementing the market growth in North American region.
Market Segmentation
Segmentation by Component
Solutions
Data Management/Extract, Transform, Load
Voice of Customer
Analytical Tools
Social Media Analytics
Dashboard And Reporting
Services
Professional Services
Consulting
Integration and Deployment
Support and Maintenance
Education and Training
Managed Services
Segmentation by Deployment Mode
Cloud
On-Premises
Segmentation by Application
Brand Management
Campaign Management
Churn Management
Customer Behavior Analysis
Product Management
Others
Segmentation by Data Source
Web
Social Media
Smartphone
Store
Call Center
Other Data Sources
Segmentation by Industry Vertical
Banking, Financial Services, and Insurance
Retail and Ecommerce
Telecommunications and Information Technology
Energy and Utilities
Manufacturing
Transportation and Logistics
Government and Defense
Healthcare and Life Sciences
Media and Entertainment
Travel and Hospitality
Other Industry Verticals
Segmentation by Region
Asia Pacific
China
Japan
India
Rest of APAC
North America
United States of America
Canada
Europe
United Kingdom
Germany
France
Spain
Rest of Europe
RoW
Brazil
South Africa
Saudi Arabia
UAE
About GMI Research
GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.
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Contact Person: Sarah Nash
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