Market Research

Customer Journey Analytics Market Size Worth $26.88 billion by 2026 | CAGR 20.5%

May 28, 2020 9:42 AM ET
iCrowd Newswire – May 28, 2020

The Global Customer Journey Analytics Market is estimated to grow at a CAGR of 20.5% during the forecast period 2019-2026. As per the detailed market analysis, the global customer journey analytics industry recorded $6.08 billion in the year 2018, and is predicted to reach $26.88 billion by the end of the year 2026.

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Dynamics of the Global Customer Journey Analytics Market

The global customer journey analytics market is driven by various growth-based factors such as expansion of retail sector, availability of real-time data in the global marketplace and increase in demand for constant customer support during business interaction. Whereas, issues with data privacy and complexity in overall data synchronization may hamper the market growth. On contrary, increasing focus of virtual touchpoints is estimated to offer lucrative opportunities for the market players in the global customer journey analytics market.

Segmentation Overview of the Global Customer Journey Analytics Market

The global customer journey analytics market is segmented on the basis of various market segments that include deployment, application, touchpoint and industry vertical. These major market segments are further categorized into various sub-segments to analyse the market in detail considering various factors throughout the forecast period.

The Deployment Segment of the Global Customer Journey Analytics Market is Sub-Segmented into:

  • On-Premise
  • Cloud

The Application Segment of the Global Customer Journey Analytics Market is Sub-Segmented into:

  • Product Management
  • Campaign Management
  • Brand Management
  • Customer Churn Analysis
  • Customer Behavioural Analysis
  • Customer Segmentation and Targeting
  • Others

The Touchpoint Segment of the Global Customer Journey Analytics Market is Sub-Segmented into:

  • Call Centre
  • Branch/Store
  • Email
  • Mobile
  • Social Media
  • Web
  • Others

The Industry Vertical Segment of the Global Customer Journey Analytics Market is Sub-Segmented into:

  • Travel and Hospitality
  • Media and Entertainment
  • Healthcare
  • Retail and E-Commerce
  • IT and Telecommunications
  • BFSI
  • Others

Geographical Overview of the Global Customer Journey Analytics Market

The global customer journey analytics market is segmented on the basis of various geographical regions, such as:

  • North America (Canada and U.S.)
  • Europe (Germany, France, UK, Italy, Spain, the Netherlands and Rest of Europe)
  • Asia Pacific (Japan, China, Australia and Rest of Asia Pacific)
  • LAMEA (Latin America, Middle East and Africa)

As per the regional study, the North America customer journey analytics market accounted for ~1/3rd of the share in the global marketplace in the year 2018, also the region analysed to dominate the market during the forecast period. The regional growth and dominance is attributed to high demand of data-driven customer experience in the region that led to high momentum for hyper-competitive economy strategies. Similarly, the Asia-Pacific customer journey analytics market is estimated to register the fastest growth with a CAGR of 22% during the forecast period 2019-2026. The regional growth is attributed to emergence of novel technologies and trends supported by advent of digitization and industrial revolution.

Market Competition Insights

Verint Systems, SAP SE, Salesforce.com Inc., Quadient, Pointillist, BryterCX, Nice Ltd., Acxiom LLC, IBM Corporation and Adobe Systems Inc. are some major key players included in the research study of the global customer journey analytics market. The market players are adopting various competitive strategies to acquire maximum market share during the forecast period.

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Keywords:    Customer Journey Analytics Market, Customer Journey Analytics Market Size