Customer analytics is defined as information collected of customer behavior that is going to help business to make key decision through predictive analytics and market segmentation. Customer analytics enable organization by providing them with efficient information about customers behavior when interacting with their organization, so organization can respond accordingly.
The key drivers of customer analytics market includes rising competition between businesses and growing demand for improved customer satisfaction is fueling the customers analytics market growth. According to the study, by vertical segment BFSI sector is expected to account for highest market share in customer analytics market. By organization size segment, small and medium enterprises accounts for largest market share. Increasing competition creates opportunity for businesses to collect efficient data of customers buying characteristic is one of the prime factor boosting customer analytics market.
The customer analytics market is segmented on the basis of solution, service, deployment, organization size and vertical. By solution segment, it includes data management, analytical tools, and social media analytical tools, voice of customers, web analytical tool, dashboard and reporting. Social media analytical tools enable organization to gain competitive advantage , as it provides better understanding of the business, enhance companies product and business, provide deep insight of customer buying behavior and facilitates market innovation.
The customer analytics market is expected to grow at approximately USD 7.3 Billion by 2023, at 15% of CAGR between 2017 and 2023.
Study Objectives of Customer Analytics Market
The prominent players in the customer analytics market are – Actuate Software Corporation (U.S.), Angoss Software Corporation (U.S.), Fair Isaac Corporation (Fico) (U.S.), IBM Corporation (U.S.), Oracle Corporation (U.S.), Pitney Bowes (Germany), SAS Institute (U.S.), Teoco Corporation (U.S.), Verint System (U.S.), SAP AG (Germany) among others.
Customer analytics market for segment on the basis of solution, service, deployment, organization size and vertical.
Customer analytics Market by Solution
Customer analytics Market by Service:
Customer analytics Market by Deployment:
Customer analytics Market by Organization Size:
Customer analytic Market by Vertical:
The regional analysis of customer analytics market is being studied for region such as Asia pacific, Americas, Europe and Rest of the World. North America region account for highest market share in customer analytics market owing to presence of major players in the region and adoption of customer analytics solution by small and big enterprises. Countries such as US and Canada contributes large amount of revenue in the customer analytics market in the region. Asia‐Pacific region is expected to be growing at the highest CAGR.Enterprises in the region are investing huge in customer analytical tools to improve business efficiency and productivity and growing e-commerce company in the region is boosting the market in the region.
Frequently Asked Questions (FAQ) :
global customer analytics market valuation is expected to hit USD 7.3 billion by 2023.
global customer analytics market is predicted to expand at 15% from 2020 to 2027.
Insight into consumer purchasing behavior is the major driver of the global customer analytics market.
Social media tools is likely to gain precedence in the global customer analytics market.
The BFSI vertical is expected to dominate the global customer analytics market.
Fair Isaac Corporation (Fico), IBM Corporation, SAP AG, Oracle Corporation, Teoco Corporation, Angoss Software Corporation, SAS Institute, Actuate Software Corporation, Pitney Bowes, and Verint System are key players of the global customer analytics market.