Customer Journey Analytics Market reached USD 10
Customer Journey Analytics Market reached USD 10.3 billion in 2021 and is estimated to rise at a higher CAGR of 18.6% during 2022-2029 reaching USD 40.3 billion in 2029
The factors driving growth of Customer Journey Analytics Market includes rising focus by companies on enhancing customer’s experience, surge in the volumes of customers data, expansion of the e-commerce industry, increasing penetration of connected devices around the world and improvements in the living standards. Moreover, growing adoption of advanced technologies by companies, rising emphasis on improvising virtual touchpoints, increasing awareness about the benefits offered by customer journey analytics solutions and rapid urbanization, are some of the additional factors supplementing the Global Customer Journey Analytics Market. In addition, the increasing investments by leading players on research and development, rise in the launch of innovative products and growing disposable incomes, are further contributing towards the market growth.
However, growth of the Customer Journey Analytics Market is hindered due to rising complexities in data synchronization.
The prominent players operating in the Customer Journey Analytics Market includes Trustwave Holdings, Inc., Woopra, Inc., WebEngage, Cisco Webex, Acoustic, L.P., Insider, Adobe, Verint, SAP SE, NetBase Quid, IBM Corporation, NICE Ltd., BryterCX, Servion Global Solutions, CallMiner and Salesforce, among others.
Based on Component, the Services segment is emerged as the fastest growing segment during the forecast period
Customer analytics are cost-effective and increasingly used for tracking customer’s behavior, are pushing Customer Journey Analytics Market size.
Based on Function, the Call Centre segment is projected to dominate the market over the forecast period
Growing adoption of cloud-based services in call centers, to store information for predicting customer’s purchasing patterns and attaining valuable insights, are some of the factors propelling growth of the segment.
Based on Region, the North American region is anticipated to capture the largest market share during the forecast period
Presence of the leading players such as Adobe, IBM Corporation, and Verint, growing adoption of cloud based services by major corporations rapid industrialization, rising tech-savvy population and high per capita incomes, are some of the important factors augmenting the market growth in the North American region.
Key Developments
- In 2020, Pointillist introduced the AI-driven software orchestration and customer journey analytics platform on the Genesys AppFoundry. Pointillist’s Genesys customer experience and contact center solutions help companies reduce cost-to-serve and improve customer experience.
- In 2020, IBM Corporation developed new innovative capabilities for Watson, a global brand to infuse intelligence into their workflows. IBM will build research innovations using automation, natural language processing, and building trust to commercialize Watson’s products.
Market Segmentation
Segmentation by Component
- Software
- Services
Segmentation by Function
- Web
- Mobile
- Call Centre
- Branch/Store
- Social Media
- Others
Segmentation by Deployment Mode
- Cloud
- On-Premise
Segmentation by Organization Size
- SMEs
- Large Enterprises
Segmentation by Application
- Product Management
- Brand Management
- Customer Churn Analysis
- Customer Behavioural Analysis
- Campaign Management
- Customer Segmentation and Targeting
- Others
Segmentation by End-User
- BFSI
- Government & Defence
- Manufacturing
- Telecommunications & IT
- Automotive & Transportation
- Retail & Ecommerce
- Healthcare & Life Science
- Others
Segmentation by Region
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- North America
- United States of America
- Canada
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
About GMI Research
GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.
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