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Customer Analytics Market, By Solution (Web Analytical Tools, Social Analysis Tool, Reporting), By Service (Professional Service, Support and Maintenance Service), By Deployment (Cloud, On-Premise) - Global Forecast 2023Market HighlightsOn the basis of regional analysis, the market is segmented into North America, Europe, Asia-Pacific and Rest of the World.
Digitization in North America is mainly due to the invention of advanced technology and economies benefitting from it.
The implementation of customer analytics solution by both small and medium enterprises is increasing rapidly, especially one into retail sector.
The initial low cost, saving amount spent on infrastructure, automatic software upgrading and seamless integration is driving the market of cloud based customer analytics market.The customer analytics market is expected to grow at approximately USD 7.3 Billion by 2023, at 15% of CAGR between 2017 and 2023.Get a Free Sample @ https://www.marketresearchfuture.com/sample_request/3777Taste the market data and market information presented through more than 30 market data tables and figures spread over 100 numbers of pages of the project report.
The cloud based customer analytics solution provides search filters in terms of website traffic, most popular site and measure campaign performance.
The study indicates that growing demand of digitally stored data and cloud computing is driving the on-premise deployment service.The prominent players in the customer analytics market are- Actuate Software Corporation (U.S.), Angoss Software Corporation (U.S.), Fair Isaac Corporation (Fico) (U.S.), IBM Corporation (U.S.), Oracle Corporation (U.S.), Pitney Bowes (Germany), SAS Institute (U.S.), Teoco Corporation (U.S.), Verint System (U.S.), SAP AG (Germany) among others.Market Research AnalysisThe customer analytics market in North America region is growing due to high adoption of cloud solutions by enterprise and need to improve information governance in organizations.
Wipro's customer segmentation solution offers machine-learning algorithms, customer analytics platform to target consumers with accuracy based on demographic, behavioral parameters
According to research report "Customer Analytics Market by Component, Deployment Mode, Organization Size, Application (Campaign Management, Customer Behavioral Analysis, and Churn Management), Data Source, Industry Vertical, and Region - Global Forecast to 2025" is projected to grow from USD 10.5 billion in 2020 to USD 24.2 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 18.2% during the forecast period.
The major factors driving the growth of customer analytics market include the need to understand customer buying behavior for a more personalized customer experience and advent of technologies, such as Artificial Intelligence (AI), Machine Learning (ML), and business process automation to streamline marketing operations.Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=250688798Browse 145 market data Tables and 55 Figures spread through 236 Pages and in-depth TOC on "Customer Analytics Market - Global Forecast to 2025"The large enterprises segment to hold a larger market size during the forecast periodLarge enterprises are one of the early adopters of big data and analytics solutions and services.
Thus, the adoption of customer analytics in large enterprises is expected to grow, owing to the huge inflow of customer data from multiple channels and the growing need to generate actionable insights from the customer data.By application, the retail and eCommerce segment to grow at the highest CAGR during the forecast periodCustomer analytics solutions enable companies to send push notifications or emails to profiles that have never made an eCommerce purchase with a discount for an item related to previous purchases, or by displaying a personalized offer.
Advanced customer analytics solutions can leverage ML algorithms to take historical purchase data, calculate the next best offer, and identify products that consumers are most likely to purchaseNorth America to hold the largest market size during the forecast periodThe US and Canada both have heavily invested in Research and Development (R) activities, contributing to the development and growth of technologies.
Increasing customer data through sources, such as clickstream, web server logs, subscriber data, Customer Relationship Management (CRM), and Enterprise Resource Planning (ERP) is compelling companies, such as Adobe and Oracle to launch customer analytics solutions and services to cater to various business and customer needs.
Many customer analytics solution providers in North America are experimenting in the market by integrating advanced big data and analytics technologies with their existing customer analytics solutions.
