Europe Customer Journey Analytics Market - Industry Trends and Forecast to 2030

Europe Customer Journey Analytics Market By Component (Software, Services), Interaction (Mobile, Social Media, Web, Call Centre, Email, Branch/Store), Deployment Mode (Cloud, On-Premise), Organization Size (SMEs, Large Enterprises), Application (Customer Churn Analysis, Product Management, Brand Management, Customer Behavioural Analysis, Campaign Management, Customer Segmentation And Targeting, Remote Monitoring, Asset Management, Facility Management, Others), End User (BFSI, Manufacturing, Government & Defence, Telecommunications & I.T., Automotive & Transportation, Retail & E-commerce, Healthcare & Life Science, Media & Entertainment, Travel & Hospitality, Energy & Utilities, Others) - Industry Trends and Forecast to 2030.

Europe Customer Journey Analytics Market Analysis and Size

Designing excellent customer experiences is becoming important across industries owing to the increasing importance of comprehending customer behavior. Rising consumer trends at a global scale are seen as technology develops, and real-time data become more crucial for industries. Hence, analyzing customer journeys is a practice that is being used increasingly as it serves as the fuel for customer acquisition, brand loyalty, and customer lifetime value.

Data Bridge Market Research analyses that the customer journey analytics market is expected to reach USD 12,365.34 million by 2030, which was USD 2,870.04 million in 2022, registering a CAGR of 20.03% during the forecast period of 2023 to 2030. 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.

 Europe Customer Journey Analytics Market Scope and Segmentation

Market Definition

Customer journey analytics uses analytical and marketing technology to track potential customers in real-time by building a timeline of their interactions. To provide a complete picture of the customer journey, it combines data on customer interactions, feedback, and transactions, accounting for consumer movements across various channels and reaching points. Businesses use a combination of large data technology, advanced analytics, and domain expertise to help map out their customers' journeys.

Europe Customer Journey Analytics Market Dynamics

Drivers

• The growing  demand to deliver a better customer experience is driving the growth

The recent technological boom and digital transformation have revolutionized consumer purchasing behaviours, options, and modes. A product's cost or quality no longer determines customer loyalty. Instead, they stick with certain businesses due to positive interactions. Customer experience is now seen as the main arena of competition for companies. It is now generally accepted that providing exceptional customer service has a significant impact on business outcomes. Thus, with the increase in demand for customer journey analytics, the market will continue to rise.

Opportunities

• Growing demand for real-time customer journey analytics will widen the scope of growth

Data can be structured or unstructured in today's digital and big data era. It is now essential to have a platform that can be used to integrate different types of customer data. Enterprises today need a customer journey analytics platform that can gather customer data in real-time and offer insightful data. This can assimilate data, structure it, refine it, enable exploratory behavior, find and assess different patterns, and speed up insight-based decision-making. Customer journey analytics offers features that enable users to investigate data to understand customer needs and project trends better.

Restraints/ Challenges

• Data security & privacy concerns may hinder the market growth

The cybercrime rate has increased by nearly 78%, and the time to stop an attack has doubled. For many departments, the increased volume of data from various sources is a problem. The likelihood of data loss and security breaches has increased due to inefficiencies in managing exabytes and petabytes of data. The marketing team needs real-time and secure data to deliver an exceptional customer experience in today's cutthroat market. Data is gathered by organizations through numerous touchpoints and measured virtually. These data, which are used in communications and support, can include various data types, such as big data, small customer data, and public information. Thus, leaking personal data can lead to restraint for customer journey analytics.

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 Developments

• In 2021, NICE introduced new integrated capabilities between NICE in contact cxone and Microsoft teams, enabling real-time recording and compatibility with many related applications. Customers will be able to use international, carrier-grade voice services to secure every interaction to launch new capabilities.
• In 2021, Genesys launched Genesys Digital, a brand-new business division 2021. Genesys digital will concentrate on making it possible for businesses to keep up with consumers' evolving preferences for digital engagement throughout the customer journey, whether using web chat for an inquiry, texting to make an appointment, or receiving care from a chatbot.
• In 2021, through a collaboration with Celebrus, Teradata announced the global release of Teradata vantage customer experience (CX). Organizations can deliver personalized, pertinent experiences in real-time thanks to vantage cx.

Europe Customer Journey Analytics Market Scope

The customer journey market is segmented on the basis of by components, interaction, development mode, organization size, application and end-user. The growth amongst these segments will help you analyse 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.

By Component

• Software
• Services
• Managed Services
• Professional Services
• Support and Maintenance
• Deployment and Integration
• Consulting

Interaction

• Mobile
• Social media
• Web
• Call centre
• Email
• Branch/Store
• Others
• Advertisements
• Loyalty Programs
• Surveys
• And Promotional Events

Deployment Mode

• Cloud
• On-premise

Organization Size

• SMES
• Large enterprises

Application

• Customer churn analysis
• Product management
• Brand management
• Customer behavioural analysis
• Campaign management
• Customer segmentation and targeting
• Remote monitoring
• Asset management
• Facility management
• Others
• Compliance Management
• Omni channel Analysis
• Customer Lifetime Value Management

End User

• BFSI
• Manufacturing
• Government & defence
• Telecommunications & IT
• Automotive & transportation
• Retail & ecommerce
• Healthcare & life science
• Media & Entertainment
• Travel & Hospitality
• Others
• Energy & Utilities
• Education

Europe Customer Journey Analytics Market Regional Analysis/Insights

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

The countries covered in the customer journey analytics market report are Germany, U.K., France, Italy, Spain, Netherlands, Switzerland, Russia, Turkey, Belgium and rest of Europe.

Germany accounts for the largest market in customer journey analytics owing to the presence of advanced I.T. infrastructure, growing deployment of customer journey analytics by small and medium-scale enterprises, and the large-scale presence of major players in Germany.

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 such as 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.

Competitive Landscape and Europe 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:

• Acoustic, L.P. (U.S.)
• Acxiom LLC (U.S.)
• CallMiner (U.S.)
• Cisco Systems, Inc. (U.S.)
• Flockrush (Canada)
• Indicative Inc. (U.S.)
• Medallia Inc. (U.S.)
• NICE Systems Inc. (Israel)
• Quadient. (France)
• Salesforce, Inc. (U.S.)
• SAP SE (Germany)
• Teradata. (U.S.)