Customer Journey Analytics Market Report 2020 Top players and Consumer Analysis across the Region and Globe, Opportunities and Growth till 2023

As per the Eurostat, the total value of the ICT sector in Europe, including the ICT manufacturing and ICT services, was estimated to be more than EUR 475 billion in 2017. In this sector, the ICT services account for the major share as it is predicted to be ten times larger than the share held by ICT manufacturing. ICT services consist of computer programming, consultancy and related activities which held about 49.1% share while the telecommunications activities held around 30.3% share in the segment in 2017. These factors are estimated to impact the market growth in a positive manner in the next few years.

Market Scenario:

The key players in the global customer journey analytics market include- Acxiom, Adobe Systems, Salesforce, IBM, Nice Systems, Verint Systems, SAP, Pointillist, Clickfox and Quadient  among others.Regionally, North America accounted for the largest market share from countries such U.S., Canada, and Mexico. The reason is attributed to growing demand for high technology adoption in IT industry and other industries like healthcare, retail, and entertainment in the region. However, Asia Pacific is expected to be the fastest growing over the forecast period, 2017-2023.

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The global customer journey analytics market can be segmented on the basis of interaction type, deployment model, organization size, application, end-user and region.Based on interaction type, the market is segmented into web, social media, mobile, email, branch/store, and call center and others. Based on deployment model the customer journey analytics market is segmented into on-premises and cloud. Small and medium-sized enterprises (SMEs) and large enterprises are the organization size segments of the customer journey analytics market. The applications covered by the customer journey analytics include customer journey mapping and visualization, customer behavioral analysis, customer attrition analysis, campaign management, brand management, product management and others.

Banking, financial services, and insurance (BFSI), retail and eCommerce, government and defense, healthcare, telecommunications and IT, media and entertainment, travel and hospitality, automotive and transportation and others (education and real estate) are the end-users of the customer journey analytics market.Geographically, the market is segmented into North America, Europe, Asia Pacific and Rest of the World. The regional segment is further bifurcated into U.S., Canada, Mexico, UK, France, Germany, China, Japan and India.

The booming IT industry coupled with increasing cloud facilities in North America helps to grow the Customer Journey Analytics demand in North America. Asia Pacific is expected to be the fastest growing market due to the increasing industrialization and new data centers in the emerging countries like India and Japan.Furthermore, factors such as benefits of cloud-based deployment like its cost effectiveness and easy availability expected to grow the customer journey analytics market. However, some factors such complexity of data synchronization may hamper the growth of the overall market.

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The global customer journey analytics market is highly competitive. Various established international brands, domestic brands and as well as new entrants form a competitive landscape. The key players are nonstop increasingly seeking market expansion through various strategic mergers and acquisitions, innovation, increasing investments in research and development and cost-effective software portfolio. The customer journey analytics market is highly competitive due to the presence of several large vendors.The global customer journey analytics market is expected to reach approximately USD 14.92 billion by the end of 2023 with 20% CAGR during forecast period 2017-2023.

Segments

For the purpose of this study, Market Research Future has segmented the market of customer journey analytics into interaction type, deployment model, application, end-user and region.

By Interaction Type

Web

Social media

Mobile

Email

Branch/store

Call center

Others (surveys, promotional events, and sales representatives)

By Deployment Model

On-premises

Cloud

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By Organization Size

Small and Medium-Sized Enterprises (SMEs)

Large enterprises

By Application

Customer Journey Mapping and Visualization

Customer behavioral analysis

Customer attrition analysis

Campaign management

Brand management

Product management

Others (customer process management)

By End-user

Banking, Financial Services, and Insurance (BFSI)

Retail and eCommerce

Government and Defense

Healthcare

Telecommunications and IT

Media and Entertainment

Travel and Hospitality

Automotive and Transportation

Others (Education and Real Estate)

By Region

North America

U.S.

Canada

Mexico

Europe

UK

France

Germany

Rest of Europe

Asia-Pacific

China

Japan

India

Rest Of Asia Pacific

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