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Global Customer Journey Analytics Market – Industry Trends and Forecast to 2029

  • ICT
  • Upcoming Report
  • Jun 2022
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60
  • ICT
  • Upcoming Report
  • Jun 2022
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Global Customer Journey Analytics Market, By Component (Software, Services), Interaction (Mobile, Social Media, Web, Call Center, Email, Branch/Store, Others), Deployment Mode (Cloud, On-Premise), Organization Size (SMEs, Large Enterprises), Application (Customer Churn Analysis, Product Management, Brand Management, Customer Behavioral Analysis, Campaign Management, Customer Segmentation and Targeting, Others), End User (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 2029

Customer Journey Analytics Market

Market Analysis and Size

Customer journey analytics  provides a toolkit to business intelligence and knowledge science groups that facilitate them sew and analyze cross-channel knowledge. Its capabilities deliver context and clarity to the advanced multichannel client journey. This context, once paired with tools like SQL and Analysis space, give unjust insight into the way to take away pain points from the client conversion method and deliver positive experiences within the moments that matter the foremost.

Data Bridge Market Research analyses that the customer journey analytics market value, which was USD 9.93 billion in 2021, is expected to reach the value of USD 41.56 billion by 2029, at a CAGR of 19.60% during the forecast period 2022-2029. The customer journey analytics market report also covers pricing analysis, patent analysis, and technological advancements in depth.   

Market Definition

Customer journey analytics is weaving together of each touch- point that a consumer interacts across multiple channels. Customer journey analytics provides marketers and professionals of the client experience a unique and important tool to understand and engage with each consumer at a particular position. One can determine the most important consumer peregrinations and can prioritize these openings that vastly impact business pretensions by assaying enormous data points in real- time.

Report Scope and Market Segmentation

Report Metric

Details

Forecast Period

2022 to 2029

Base Year

2021

Historic Years

2020 (Customizable to 2019 - 2014)

Quantitative Units

Revenue in USD Billion, Volumes in Units, Pricing in USD

Segments Covered

Component (Software, Services), Interaction (Mobile, Social Media, Web, Call Center, Email, Branch/Store, Others), Deployment Mode (Cloud, On-Premise), Organization Size (SMEs, Large Enterprises), Application (Customer Churn Analysis, Product Management, Brand Management, Customer Behavioral Analysis, Campaign Management, Customer Segmentation and Targeting, Others), End User (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) 

Countries Covered

U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Market Players Covered

Oracle (US), Adobe. (US), Salesforce, Inc. (US),NICE (US),SAP (Germany),Google (US),Microsoft (US), Genesys. (US), Cisco Systems, Inc. (US), Teradata. (US),Alterian. (US), Pointillist. (US),inQuba (South Africa),Kitewheel (US), Verint Systems Inc. (US), Thunderhead (UK),Servion Global Solutions (India), CallMiner. (US), NGDATA, Inc. (Belgium), Acoustic (US),FirstHive (US),CaliberMind (US),Amperity, Inc.  (US), Cerebri AI (US)

Market Opportunities

  • Focus on virtual touchpoints

  • Rising research and development opportunities

  • Increase in the demand for real-time customer journey analytics for generating actionable insights

Global Customer Journey Analytics Market Dynamics

This section deals with understanding the market drivers, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers:

  • Growing need to provide better customer experienceto drive need for customer journey analytics

The recent technology and digital metamorphosis smash have led to a client revolution in terms of changes in buying actions, choices, and modes. Guests no longer predicate their fidelity on price or product. Rather, they stay pious to companies due to the experience they admit. Client experience encompasses every aspect of a company’s immolation — the quality of client care, of course, but also advertising, packaging, product and service features, ease of use, and trust ability. Exceptional client experience is the stylish competitive advantage a company can secure. Client experience has risen in significance over the last decade and is now lauded as the primary competitive battlefield for enterprises across diligence. From fiscal services and telecommunications to healthcare and retail, it's now honored that exceptional  customer experience can significantly impact business issues, similar as a share of portmanteau, retention, and client continuance value. Companies should have the capability to use both active and unresisting client data to more gauge client and their trip for creating the optimal CUSTOMER EXPERIENCE. Companies must collect, dissect, understand — and most importantly use — client data to learn how to make CUSTOMER EXPERIENCE more.

  • Increased number of industries globally to induce greater demand and supply in emerging nations  

Growing number of small and medium scale enterprises all around the globe is one of the major factors fostering the growth of the market. In other words, increased number of banking, financial services, and insurance (BFSI), government and public sector, healthcare and life sciences, manufacturing, retail and e-commerce, telecommunication, and IT industries, is directly influencing the growth rate of the market.

Opportunities:

  • Rise in demand for real-time customer journey analytics for generating actionable insights

In moment’s digital and big data period, data can be structured or unshaped, and utmost of it resides outside enterprises. Therefore, it has come pivotal to have a platform that can be used to integrate various client information. Presently, enterprises need a comprehensive client trip analytics platform that can collect a high volume of client data in real time to give meaningful perceptivity. This can assimilate data, structure, upgrade, give the exploratory capability, identify and estimate various patterns, and help make sapience- grounded opinions briskly. The client trip analytics offers layers that enable druggies to explore data in understanding client requirements and design trends, and draw precious perceptivity using known analysis styles, similar as deals and marketing optimization, cost optimization, threat operation, and social network analysis. The rearmost data and analytics tools are projected to give growth openings to dissect data for the benefit of guests and the request.

Restrictions/ challenges:

  • Difficulty in quantifying customer experience RoI (Return of Investment )

All associations want to measure and manage their sweats with figures. Quantifying the RoI (return of investment ) of client experience is the toughest challenge for customer experience leaders, but it's most important for brands to justify fiscal results. Organizations across diligence struggle to connect client and peregrinations to business-critical KPIs, similar as profit, churn, and cost to serve. The association faces an incapability to measure the impact of customer experience on business issues, which makes it delicate to secure a customer experience budget. Organizations that are challenged to quantify the ROI  (return of investment )  of customer experience enterprise report stagnant budgets or small diminishments. Without coffers, customer experience leaders cannot invest in the technology necessary to effectively measure and ameliorate client experience. Investing in customer experience brings a strong return on investment. A large quantum of structured and unshaped databases bear significant coffers, similar as plutocrat, time, and workers, to dissect. This creates issues that block the optimum RoI  (return of investment )  from client trip analytics.

  • Data security and privacy concerns

Security pitfalls are projected to grow indeed further in the future. In the once four times, the fiscal impact of cybercrimes has increased by nearly 78, and the time it takes to resolve cyberattacks has doubled. The increase in data from various sources is clumsy for several IT brigades. The associations are gathering data through multiple touchpoints and measuring it nearly. Similar data, which is used in support and dispatches, may include a variety of data types, similar as public information, big data, and small data collected from the guests. This data can include warrants, individual preferences, and streamlined contact information on products, services, and communication platforms. Therefore, the merchandisers need to insure high- position data security to maintain client trust.

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.

COVID-19 Impact on Customer Journey Analytics Market

The customer journey analytics request is projected to witness a slight retardation in its growth in 2020 due to COVID-19 lockdowns assessed worldwide. These lockdowns have been impacting all the verticals, including retail and eCommerce, BFSI, healthcare and life style, media and entertainment, and government. The epidemic has led to a shift in client preferences, with lockdown driving guests to conclude for omni channel for purchasing. The condition is anticipated to come under control bymid-2021. The demand for client trip analytics results and services is anticipated to increase due to guests shifting toward online purchasing. Due to lockdown regulations, there was a swell in the number of online media and entertainment druggies, which has created the demand for client trip analytics results and services for understanding client requirements.

Recent Developments

  • In January 2021, NICE launched the new intertwined capabilities between NICE in Contact CUSTOMER EXPERIENCEone and Microsoft Brigades, empowering real- time recording as well as comity with a range of affiliated operations. This launch of new capabilities will enable guests to guard every commerce using global, carrier- grade voice services.

  • In December 2020, Genesys launched Genesys Digital, a new business unit of Genesys. Genesys Digital will concentrate on enabling companies to keep pace with consumers’ evolving preferences for digital engagement across the client trip, whether using webchat for an inquiry, cataloging an appointment via textbook, or entering care from a chatbot.

  • In November 2020, SAP completed the accession of Emarsys, an omnichannel client engagement platform provider. The Emarsys products will be added to the SAP Client Experience portfolio. The addition of Emarsys products in the SAP Client Experience portfolio will enable SAP to engage guests and deliver hyperactive- substantiated, omnichannel engagements in real time.

Customer Journey Analytics Market Scope

The customer journey analytics market is segmented on the basis of component, interaction deployment mode , organization size , application  ,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  

  • Solution

  • Services

Interaction

  • Mobile

  • Social Media

  • Web

  • Call Center

  • Email

  • Branch/Store

  • Others

Deployment Mode

  • Cloud

  • On-Premise

Organization size

  • Large Enterprises

  • Small and Medium-Sized Enterprises

Application

  • Customer Churn Analysis

  • Product Management

  • Brand Management

  • Customer Behavioral Analysis

  • Campaign Management

  • Customer Segmentation and Targeting

  • Others

End User

  • 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 analysed and market size insights and trends are provided by country, component, interaction deployment mode , organization size , application  ,end user as referenced above.

The countries covered in the customer journey analytics market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

The U.S. in North America accounted for the largest market share for the customer journey analytics organization size segment as the strong presence of large enterprises in the country. The Germany accounted for the second largest market share of organization size customer journey analytics infrastructure segment in Europe owing to the presence of advanced analytics in big digital data. However, China accounted for the third largest market share in Asia-Pacific for the organization size of customer journey analytics segment due to the growing large enterprises due to commercialization and urbanization.

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 (US)

  •  Adobe. (US)

  • Salesforce, Inc. (US)

  • NICE (US)

  • SAP (Germany)

  • Google (US)

  • Microsoft (US)

  • Genesys. (US)

  • Cisco Systems, Inc. (US)

  • Teradata. (US)

  • Alterian. (US)

  • Pointillist. (US)

  • inQuba (South Africa)

  • Kitewheel (US)

  • Verint Systems Inc. (US)

  • Thunderhead (UK)

  • Servion Global Solutions (India)

  • CallMiner. (US)

  • NGDATA, Inc. (Belgium)

  • Acoustic (US)

  • FirstHive (US)

  • CaliberMind (US)

  • Amperity, Inc.  (US)

  • Cerebri AI (US)

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Frequently Asked Questions

The market value for the Customer Journey Analytics Market is expected USD 41.56 billion by 2029.
The Customer Journey Analytics Market is to grow at a CAGR of 8.40% during the forecast by 2029.
The major players operating in the Customer Journey Analytics Market are Oracle (US), Adobe. (US), Salesforce, Inc. (US),NICE (US),SAP (Germany),Google (US),Microsoft (US), Genesys. (US), Cisco Systems, Inc. (US), Teradata. (US),Alterian. (US), Pointillist. (US),inQuba (South Africa),Kitewheel (US), Verint Systems Inc. (US), Thunderhead (UK),Servion Global Solutions (India), CallMiner. (US), NGDATA, Inc. (Belgium), Acoustic (US),FirstHive (US),CaliberMind (US),Amperity, Inc. (US), Cerebri AI (US).
The major countries covered in the Customer Journey Analytics Market are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Browse Related Reports

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

North America Customer Journey Analytics Market – Industry Trends and Forecast to 2030

Middle East and Africa Customer Journey Analytics Market – Industry Trends and Forecast to 2030

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


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