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Customer Journey Analytics Market Share Growing with CAGR of 18.8% Estimated to Reach USD 46.68 Billion by 2030
The global customer journey analytics market was accounted for $8.28 billion in 2020, and is estimated to reach $46.68 billion by 2030, growing at a CAGR of 18.8% from 2021 to 2030.
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Rise in demand for consistent customer support throughout business interaction, customer journey analytics has garnered high traction from the recent years among digital businesses. This is a major factor expected to drive the growth of the market in the coming years. Increase in real-time data generated through connected devices and application is also among some of the major factors expected to boost growth of the market. Moreover, proliferation of real-time data generated through e-commerce application and evolving retail industry across digitalization are factors that further drive the growth of the market. However, rise in multi-channel business and marketing has increased the complexity of overall data synchronization and data privacy, which is expected to hamper the growth of the market to a certain extent.
North America customer journey analytics market dominated in 2020, and is expected to continue this trend during the forecast period, owing to high availability of number of players that are operating and using analytics in the countries such as the U.S. and Canada. Asia-Pacific is expected to anticipate high CAGR in the global market in the coming years, due to adoption of customer journey analytics tools across various touchpoints. Major players operating in this market have witnessed high growth in demand for customer journey analytics, especially due to increase in consumer expectations to provide consistent information and seamless experiences across diversified channels. This study includes market analysis, trends, and future estimations to determine the imminent investment pockets.
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The report divides the global customer journey analytics market on the basis of component, deployment mode, application, touchpoint, organization size, industry vertical, and region.
Based on component, the solutions segment held the largest share in 2020, accounting for nearly two-thirds of the market. However, the services segment is projected to manifest the highest CAGR of 19.9% during the forecast period.
On the basis of deployment mode, the on-premise segment held the lion's share in 2020, contributing to around three-fifths of the market. However, the cloud segment is estimated to portray the highest CAGR of 20.1% from 2021 to 2030.
The report offers an analysis of the global customer journey analytics industry across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America held the lion's share in 2020, accounting for nearly two-fifths of the market. However, the market across Asia-Pacific is anticipated to showcase the highest CAGR of 21.6% during the forecast period.
Key Players:
Acxiom LLC.,
Adobe Systems, Inc.,
BryterCX,
IBM Corporation,
Nice Ltd.,
Pointillist,
Quadient,
Salesforce.com, Inc.,
SAP SE,
Verint Systems.
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Key Findings of the Study
By component, in 2020 the solutions dominated the customer journey analytics market size. However, the services segment is expected to exhibit significant growth during the forecast period.
Depending on deployment mode, the on-premise generated the highest revenue in 2020 and is expected to exhibit significant growth during the forecast period.
On the basis of application, the campaign management segment accounted for the highest revenue of customer journey analytics market share in 2020; however, customer churn analysis segment is expected to witness highest growth rate in the forecasted period.
According to the touchpoint, the email segment accounted for the highest revenue in 2020. However, mobile is expected to witness highest growth rate in the customer journey analytics market forecast period.
Region wise, the customer journey analytics market share was dominated by North America region. However, Asia-Pacific is expected to witness significant growth in the upcoming years.
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Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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