Asia-Pacific Customer Journey Analytics Market – Industry Trends and Forecast to 2030

Asia-Pacific Customer Journey Analytics Market, By Component (Solutions, Services), Interaction (Mobile, Social Media, Web, Call Center, Email, Branch/Store, Others), Deployment Mode (Cloud, On-Premise), Organization Size  (Small and Medium Enterprises, Large Enterprises), Application (Customer Churn Analysis, Product Management, Brand Management, Customer Behavioral Analysis, Campaign Management, Customer Segmentation and Targeting, Others), End User (Banking, financial services and insurance (BFSI), Manufacturing, Government and  Defense, Telecommunications and IT, Automotive and Transportation, Retail and Ecommerce, Healthcare and Life Science, Media and Entertainment, Travel and Hospitality, Energy and Utilities, Others) – Industry Trends and Forecast to 2030.

Asia-Pacific Customer Journey Analytics Market Analysis and Size

In big data and digital world, most data exist out of the enterprise whether it is unstructured or structured. So it is right time to have a digital platform which can aid organizations all customer information at one place. As a result, companies now need a complete and wide customer journey analytics platform that can collect large volumes of customer data and help make a decision faster based on insight data.

Data Bridge Market Research analyses that the customer journey analytics market is expected to reach USD 11,316.88 million by 2030, which is USD 2,382.96 million in 2022, at a CAGR of 21.50% during the forecast period. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

Asia-Pacific Customer Journey Analytics Market Scope and Segmentation

Market Definition

Customer journey analytics refers to estimating customer behavior in touchpoints and time to determine how consumer behavior affects the behavior outcomes. The methods for customer journey analytics are real-time analytics, predictive analytics and customer segmentation. The customer journey analytics are used to help organizations in improving and activating engagement throughout the customer journey with their collaborative and accessible interface.

Asia-Pacific Customer Journey Analytics Market

Drivers

• The increasing emergence of machine learning and artificial intelligence

The growing emergence of machine learning and artificial intelligence is a major trend which is gaining popularity in the regional market of customer journey analytics. Artificial intelligence is used as an element of a comprehensive digital transformation strategy to improve customer satisfaction, make strategic use of customer data, speed up data-driven decision-making, automate labor, and increase responsiveness. As a result of all these factors the demand for the customer journey analytics increases which is expected to drive the market growth.

•        Growing usage of customer journey analytics in IT and telecom sector

The IT and telecom sector is expected to cover major share in the regional customer journey analytics market. Buyer churn has been a major problem for telecom carriers. It is one of the major driver which is driving telecom industries to spend more on retaining their most profitable customers. Customer retention has become progressively essential in increasing revenues for telecom operators because customer demand for a variety of services such as cable TV, data, IP TV, mobile wallets, broadband and content has grown swiftly. This is boosting the requirement for customer journey analytics among IT and telecom operators. Moreover, customer journey analytics helps telecom network providers convert to customer-centric enterprises from network or resource-centric.

Opportunities

• Surging acquisition between major market players to improve employee and customer experiences

The surging acquisition merger and collaboration between major market players further offer numerous growth opportunities within the market. For instance, Genesys, a US-based software company, acquired Pointillist and Exceed in 2021 for an undisclosed amount. Pointillist, US-based Company that offers customer-centric enterprises to enhance the customer experience. Exceed, a US-based conversational sales and marketing platform. Through this acquisition, Genesys goals to increase employee and customer experiences in the workplace with journey analytics for marketing and sales.

• Increasing need for real-time and secure data

There is an increased need for real-time and secure data among companies to provide a better customer experience. Now, companies need to have a high data security base to maintain customers' faith because it comprises a variety of things such as permissions, public information, individual preferences and others. Therefore, increasing cloud facilities and need for real-time and secure data are helping to grow the demand for the customer journey analytics in the world market.

Restraints

• Challenges in maintaining data consistency

Customer journey analytics is a subgroup of big data analytics in which client feedback and activity are collected as data and used this data to create predictions. Thus, the challenge in maintaining data consistency is a major factor which is restraining the market growth during the forecast period.

• Difficulty in measuring the return of investment (RoI) of client experience

All associations want to manage and measure their sweat with figures. Measuring the return on investment (RoI) of client experience is the most formidable challenge for the market players, but it is most important for brands to justify fiscal results. The association faces an inability to measure the effect of customer experience on business issues. Organizations that are challenged to measuring the return on investment (RoI) of client experience report stagnant budgets. This creates issues that hamper the market growth.

This customer journey analytics market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the customer journey analytics market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Recent Development

• In 2021, Google acquired Looker, a supplier of a single platform for data applications, business intelligence and embedded analytics. This acquisition would allow Google to widen its analytics contribution by specifying two capabilities: providing an analytical platform for making business choices and defining business KPIs.
• In 2021, NICE has launched the new integrated capabilities between Microsoft Teams and NICE inContact CXone. With this launch, they will empower real-time recording and compatibility with a range of related applications. This new launch will allow customers to safeguard every interaction.

Asia-Pacific Customer Journey Analytics Market Scope

The customer journey analytics market is segmented on the basis of component, interaction, deployment mode, organization size, application and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Component

• Solutions
• Services
• Manged Services
• Professional Services
• Support and Maintenance
• Deployment and Integration
• Consulting

Interaction

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

Deployment Mode

• Cloud
• On-Premise

 Organization Size

• Small and Medium Enterprises
• Large Enterprises

Application

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

End User

• Banking, financial services and insurance (BFSI)
• Manufacturing
• Government and Defense
• Telecommunications and IT
• Automotive and Transportation
• Retail and Ecommerce
• Healthcare and Life Science
• Media and Entertainment
• Travel and Hospitality
• Energy and Utilities
• Others

Customer Journey Analytics Market Regional Analysis/Insights

The customer journey analytics market is analyzed and market size insights and trends are provided by country, component, interaction, deployment mode, organization size, application and end user as referenced above.

The countries covered in the customer journey analytics market report are China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC).

China dominates the customer journey analytics market because of increasing large enterprises coupled with the urbanization and commercialization. Moreover, increasing use of IoT-based devices and sensors to deliver personalized services to B2B and B2C consumers will further increase regional market growth.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Customer Journey Analytics Market Share Analysis

The customer journey analytics market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to customer journey analytics market.

Some of the major players operating in the customer journey analytics market are:

• Oracle (U.S.)
• Adobe (U.S.)
• Salesforce, Inc. (U.S.)
• NICE (U.S.)
• SAP (Germany)
• Google (U.S.)
• Microsoft (U.S.)
• Genesys (U.S.)
• Cisco Systems, Inc. (U.S.)
• Teradata (U.S.)
• ALTERIAN (U.S.)
• inQuba (South Africa)
• Kitewheel (U.S.)
• Verint Systems Inc. (U.S.
• Servion Global Solutions (India)
• CallMiner (U.S.)
• NGDATA, Inc. (Belgium)
• Acoustic, L.P. (U.S.)
• FirstHive (U.S.)
• CaliberMind (U.S.)
• Amperity, Inc.  (U.S.)
• Cerebri AI Inc. (U.S.)