Overview and Scope
Customer journey analytics refer to evaluating customer behavior across touchpoints and time to determine how customer behavior affects behavior outcomes. The methods for customer journey analytics are predictive analytics, real-time analytics, and customer segmentation. The customer journey analytics are used to assist organizations in activating and improving engagement throughout the customer journey with their accessible, collaborative interface.
Sizing and Forecast
The customer journey analytics market size has grown exponentially in recent years. It will grow from $12.31 billion in 2023 to $14.84 billion in 2024 at a compound annual growth rate (CAGR) of 20.6%. The growth in the historic period can be attributed to customer-centric business approach, proliferation of data sources, personalization and targeted marketing, real-time insights and actionability, compliance and data privacy concerns..
The customer journey analytics market size is expected to see exponential growth in the next few years. It will grow to $31.2 billion in 2028 at a compound annual growth rate (CAGR) of 20.4%. The growth in the forecast period can be attributed to enhanced customer experience focus, omnichannel customer journey analysis, ai and machine learning adoption,real-time analytics capabilities, data integration and unification solutions.. Major trends in the forecast period include cross-functional collaboration, business process optimization, privacy and data security compliance, customer retention and loyalty,predictive and prescriptive analytics..
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Segmentation & Regional Insights
The customer journey analytics market covered in this report is segmented –
1) By Component: Solution, Services
2) By Organization Size: Large Enterprises, Small and Medium-sized Enterprises (SMEs)
3) By Data Source: Web, Social Media, Mobile, Email, Store, Call Center, Other Data Sources
4) By Application: Customer Segmentation and Targeting, Customer Behavioral Analysis, Customer Churn Analysis, Brand Management, Campaign Management, Product Management, Other Applications
5) By Industry Vertical: BFSI, IT And Telecom, Healthcare, Retail And eCommerce, Government And Defense, Media And Entertainment, Manufacturing, Other Industry Verticals
North America was the largest region in the customer journey analytics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the customer journey analytics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The adoption of big data analytics is expected to propel the growth of the customer journey analytics market going forward. Data analytics can be referred to as the process of analyzing raw data in order to draw conclusions and help businesses optimize their performance. Businesses employ big data and data analytics to have a strong customer journey analytics platform, where companies collect user actions in one central database to get valuable insight into customer behavior, which results in an increase in the demand for analytics services. For instance, according to ZDNet, a US-based business technology news website, the big data analytics market is expected to reach $103 billion by 2023, with 45% of enterprises running their big data workloads in the cloud. Therefore, the adoption of big data analytics is driving the demand for the consumer journey analytics market growth.
Key Industry Players
Major companies operating in the customer journey analytics market report are Acxiom LLC, NICE Ltd, Quadient, Salesforce. com Inc., Verint Systems Inc., Kitewheel LLC, Servion Global Solutions Limited, Amperity Inc., Google LLC, Microsoft Corporation, Genesys Telecommunications Laboratories Inc, Alterian Software Holdings LLC (now known as Acxiom LLC), Oracle Corporation, International Business Machines Corporation, Adobe Inc., SAP SE, Pointillist Inc., ClickFox Inc., BryterCX Inc., Teradata Corporation, MoEngage Inc., NetBase Quid Inc., Accenture plc, SAS Institute Inc., Tealium Inc., Mixpanel Inc., Woopra Inc., FullStory Inc., Amplitude Inc., ContentSquare SAS, Quantum Metric Inc., Glassbox Ltd., SessionCam Ltd., Decibel Insight Ltd., Smartlook s. r. o., UserReplay Ltd.
The customer journey analytics market report table of contents includes:
1. Executive Summary
2. Customer Journey Analytics Market Characteristics
3. Customer Journey Analytics Market Trends And Strategies
4. Customer Journey Analytics Market – Macro Economic Scenario
5. Global Customer Journey Analytics Market Size and Growth
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31. Global Customer Journey Analytics Market Competitive Benchmarking
32. Global Customer Journey Analytics Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Customer Journey Analytics Market
34. Customer Journey Analytics Market Future Outlook and Potential Analysis
35. Appendix
Top Major Players:
Acxiom LLC
NICE Ltd
Quadient
Salesforce. com Inc
Verint Systems Inc
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