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    Customer Journey Analytics Market Report

    Customer Journey Analytics Market Report
    Report code - SR1881 Delivery - 2 Weeks
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    Customer journey analytics Market Size, Share, Trend, Forecast, & Industry Analys See more...

    Market Insights

    The Customer journey analytics market is projected to grow from USD 8.3 billion in 2020 to USD 23.2 billion by 2026 at a CAGR of over 19.0% during the forecast period.

    This market research report provides in-depth information on trends, dynamics, revenue opportunities, competitive landscape, and recent developments in the Customer journey analytics market. The historic years considered for the study are 2016-2019, base year is 2020, estimated year is 2021, and forecast period is 2022-2026.

    Customer journey Analytics Market- Research Scope

    Base Year of Study

    2020

    Trend Period

    2016-2019

    Forecast Period

    2022-2026

    Estimated year

    2021

    Market Size in 2020

    USD 8.3 billion

    Market Size in 2026

    USD 23.2 billion

    Market Growth (2021-2026)

    19.0% CAGR

     

    Figure: Customer journey analytics Market Size, 2020-2026 (USD Billion)

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    Customer journey analytics gives business intelligence and data science teams a toolkit for stitching and analyzing cross-channel data. Its capabilities add context and clarity to the multichannel customer journey. When combined with tools like SQL and Analysis Workspace, this context provides actionable insight into how to remove pain points from the customer conversion process and deliver positive experiences at critical moments.

    Key Players

    The key players operating in the Customer journey analytics market are-

    • Oracle (US)
    • Adobe (US)
    • Salesforce (US)
    • NICE (US)
    • SAP (Germany)
    • Google (US)
    • Microsoft (US)
    • Genesys (US)
    • Cisco (US)
    • Teradata (US)
    • Alterian (US)

    Market Dynamics

    Various factors, including the growing need to provide a seamless customer experience, a greater emphasis on better customer engagement strategies via omnichannel, and the adoption of advanced analytics solutions to leverage increasing customer data and reduce customer churn rate, are expected to drive demand for customer journey analytics solutions and services. Demand for real-time customer journey analytics to generate actionable insights is increasing. Data in the digital and big data era can be structured or unstructured, and the majority of it resides outside of enterprises. As a result, having a platform that can be used to integrate various customer information has become critical. Enterprises currently require a comprehensive customer journey analytics platform capable of collecting a large volume of customer data in real time and providing meaningful insights.

    Segments Analysis

    Deployment Mode Trends

    Based on Deployment Mode, the Customer journey analytics market has been classified into Cloud, On-premise. Under these, the On-premise segment held a significant market share in 2020. The cloud segment's high CAGR can be attributed to the availability of simple deployment options with low capital and time requirements. As social distancing and online purchasing of goods hit the industry, these factors are expected to drive the adoption of cloud-based customer journey analytics solutions, supporting the current COVID-19 lockdown scenario.

    Regional Trends

    By region, the Customer journey analytics market in North America accounted for the largest market share in 2020. Growing customer experience awareness in key countries such as China, India, and Japan will drive the adoption of customer journey analytics solutions and services. The commercialization of AI and ML technology, which has resulted in increased customer data, and the need for further advancements to fully leverage its benefits are expected to drive the region's adoption of customer journey analytics solutions.

    COVID-19 Impact on Customer journey analytics Market

    Due to COVID-19 lockdowns imposed globally, the customer journey analytics market is expected to experience a slight slowdown in growth in 2020. Retail and e-commerce, BFSI, healthcare and life sciences, media and entertainment, and government have all been affected by these lockdowns. Customers' purchasing habits have shifted as a result of the pandemic, with lockdown forcing them to go Omni channel. The condition is expected to be under control by the middle of 2021. Customers' preference for online purchases is expected to drive up demand for customer journey analytics solutions and services.

    Critical Questions Answered in the Report

    • What are the key trends in the Customer journey analytics market?
    • How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in next five years?
    • What is the impact of COVID-19 on Customer journey analytics market?
    • What are the key strategies adopted by the major vendors to lead in the Customer journey analytics market?
    • What is the market share of the top vendors?

    Target Audience

    The target audience of Customer journey analytics Market includes-

    • Customer journey analytics companies
    • Customer journey analytics distributors
    • Transportation & Logistics
    •  Government
    Custom Research: Stratview research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.

    Frequently Asked Questions (FAQs)

    The Customer journey analytics market is projected to grow from USD 8.3 billion in 2020 to USD 23.2 billion by 2026 at a CAGR of over 19.0% during the forecast period.

    The key players operating in the Customer journey analytics market are Oracle (US), Adobe (US), Salesforce (US), NICE (US), SAP (Germany), Google (US), Microsoft (US), Genesys (US), Cisco (US), Teradata (US), Alterian (US).

    The target audience of Customer journey analytics Market includes Customer journey analytics companies, Customer journey analytics distributors, Transportation & Logistics, Government.

    Various factors, including the growing need to provide a seamless customer experience, a greater emphasis on better customer engagement strategies via omnichannel, and the adoption of advanced analytics solutions to leverage increasing customer data and reduce customer churn rate, are expected to drive demand for customer journey analytics solutions and services.