With the increasing availability of advanced technologies, numerous organizations are leveraging the benefits of data to achieve operational excellence for driving the business growth. The data is the new asset for an organization, thus the data generated from customers and service systems helps in analyzing and improving the overall services rapidly. The service analytics solution collects, processes, and analyzes the captured system data. Furthermore, the solution analyzes the historical data to identify and rectify the potential issues that may lead to breakdown. Furthermore, the customer-focused support team assists organizations to reap maximum benefits from their service analytics investments. Vendors provide various levels of support and maintenance programs, such as standard and extended support, designed to meet customer needs. MarketsandMarkets forecasts the global Service Analytics Market to reach USD 1,056.1 million by 2023, at a Compound Annual Growth Rate (CAGR) of 14.1% during the forecast period. The major growth drivers of the service analytics market include the rising need to improve the client customer interaction for better performance and quality improvement.
An increase in the adoption of the service analytics solution across various industries have been observed to ensure better and optimized business productivity. The growing importance to understand customer behavior to expand customer engagement through service enhancement is one of the major factors that is driving service analytics practices across industries. Furthermore, with the developments made in the regulations, such as the General Data Protection Regulation (GDPR), and other data protection acts are expected to attract new customers in the coming years. The emergence of Artificial Intelligence (AI) in the service analytics solution offers a responsive customer support by adapting to the customer’s behavior while interacting with the customer. AI benefits the customer service industry by predicting the customer’s behavior using the historical data and accordingly responding to the customer behavior. Available technologies coupled with the rapid adaptive capabilities of SMEs are further expected to drive the adoption of the service analytics solution worldwide.
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=21442175
Some of the major business applications of service analytics include field service analytics, customer service analytics, and IT service analytics. The customer service analytics segment is expected to witness the highest growth rate, followed by the field service analytics segment during 2018–2023. The service analytics solution is widely used by industries, such as BFSI; retail and eCommerce; healthcare; telecommunications; government and defense; and others comprising automotive, education, media and entertainment, and travel and hospitality. The retail and eCommerce industry vertical is expected to grow at the highest CAGR during the forecast period.
The region-specific market analysis includes industry trends, market potentials, and market forecasts on the basis of components, business applications, deployment models, organization size, and industries. The market is witnessing a rapid growth in various emerging regions, such as Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA). North America is expected to account for the largest market share for the next 5 years, followed by Europe during the forecast period. APAC is projected to be the fastest-growing region in the service analytics market during the forecast period. Globally, the adoption of the service analytics solution is increasing due to the growing amount of business-critical data and the increasing number of SMEs in the emerging economies, such as APAC and Latin America. Companies, such as Oracle (US), SAP SE (US), and Salesforce (US), and other major vendors offer a competitive product portfolio across these regions.
Speak to Our Expert Analyst @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=21442175
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
According to research report "Service Analytics Market by Business Application (Customer Service Analytics, Field Service Analytics, and IT Service Analytics), Component (Solution and Services), Deployment Model, Organization Size, Industry, and Region - Global Forecast to 2023", The service analytics market size is expected to grow from USD 546.4 million in 2018 to USD 1,056.1 million by 2023, at a Compound Annual Growth Rate (CAGR) of 14.1% during the forecast period.
The major factors driving the retail and eCommerce industry is the increasing eCommerce industry and rising retail stores going digital, which has led to the generation of huge services and customer data for performance improvement.
The need to understand the customer behavior for delivering customized services is supporting the adoption across this industry.Enquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=21442175The cloud segment is expected to grow at a higher CAGR during the forecast periodThe cloud segment is expected to account for a higher growth rate, as compared to the on-premises segment, due to the advancements in cloud technologies.
Moreover, cloud-based solutions provide agility and flexibility in use.
Moreover, these solutions require less physical setup, incur low maintenance costs, and provide 24/7 accessibility even from the remote location.APAC is expected to account for the third largest market share while expanding at the highest CAGRIn terms of market share, APAC is expected to continue its dominance during the forecast period.
The growing technology expenditures in countries, such as Australia, China, and India, and the demand for cost-effective data management software and services among the Small and Medium-sized Enterprises (SMEs) are expected to drive the market growth during the forecast period.Speak to Our Expert Analyst: https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=21442175Vendors providing service analytics software and services include Oracle (US), Salesforce (US), ServiceNow (US), SAP (Germany), SAS (US), Tableau (US), Microsoft (US), ClickSoftware (US), Centina Systems (US), Paskon (US), Numerify (US), Field Squared (US), Helpshift (US), Aureus Analytics (Singapore), NetEnrich (US), BlueFletch (US), mobi corp (US), DataHero (US), Agile CRM (US), Sisense (US), and MicroStrategy (US).Speak to Our Expert Analyst: About MarketsandMarkets™MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues.
The global self-service analytics software market is poised to capture an impressive CAGR of 20% over the forecast period of 2016-2022, projects Market Research Future (MRFR) in a detailed research report.
Enterprises are increasingly embracing self-service analytics to bring capabilities to business users of all levels.Market OverviewHigh demand for analytics in data interpretation is one of the preliminary factors driving the growth of the self-service analytics market.
Business is increasingly shifting towards self- service analytics from the traditional business intelligence tools which makes them concentrate on more strategic concerns.
The dearth of analytics experts is a significant factor driving the growth of the market.
On the downside, factors such as privacy and security concerns, the high cost of deployment, and lack of proper data are restraining the growth of the market.Get a Free Sample @ https://www.marketresearchfuture.com/sample_request/1984SegmentationThe global self-service analytics market has been segmented based on software tool, service, company size, deployment, and industry.
By service, the market has been segmented into Business user, Consultants, and Corporate IT Professionals.
