North America 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.
North America Customer Journey Analytics Market Analysis and Size
The customer journey analytics market is expected to grow at significant rate during the forecast period owing to the rising need to provide a consistent and smooth customer experience. Moreover, the emergence of digitalization all over the globe is creating a positive outlook for the growth of the market. The growing requirement to convert information into digital form to gain insights which help strategic decision-making in several organizations is favoring the growth of the market during the forecast period.
Data Bridge Market Research analyses that the customer journey analytics market is expected to reach USD 15,116.06 million by 2030, which is USD 3,468.99 million in 2022, at a CAGR of 20.20% 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.
North America Customer Journey Analytics Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015 - 2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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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)
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Countries Covered
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U.S., Canada and Mexico in North America
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Market Players Covered
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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.)
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Market Opportunities
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Market Definition
Customer journey analytics refer 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.
North America Customer Journey Analytics Market
Drivers
- Increasing adoption of big data and data analytics
The increasing adoption of big data and data analytics is expected to drive the market growth during the forecast period. Data analytics is the process of analysing raw data to draw conclusions and support the businesses to enhance their performance. Businesses employ data analytics and big data to have a strong customer journey analytics platform, where businesses collect user actions in one central database to develop valuable insight into customer behaviour, As a result, an increase in the demand for customer journey analytics services. For instance, ZDNet which is a US-based business technology news website has reported that the big data analytics market is anticipated to reach $103 billion by 2023. Therefore, the increasing adoption of big data and data analytics is expected to drive the demand for the consumer journey analytics market.
- Growing usage of customer journey analytics in retail sector
Retail sector is anticipated to grow with significant rate by using customer journey analytics owing to the increasing adoption of technology in the industry because customer feedback plays an important role in retail sector. Now, the customers specially prefer online channel as compere to other offline channel in retail sector. Hence, increasing usage of customer journey analytics in retail sector is expected to drive the demand for the consumer journey analytics market.
Opportunities
- 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 labour and increase responsiveness. As a result of all these factors the demand for the customer journey analytics increases which will create lucrative opportunities for the market growth.
- Surging product launches by major market players to safeguard every interaction
The surging product launches and other advanced innovations by major market players further offer ample growth opportunities for the market. For instance, NICE has launched the new integrated capabilities between Microsoft Teams and NICE inContact CXone in 2021. 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.
.Restraints
- Data security and privacy concerns
Security concerns are projected to grow indeed further in upcoming years. The economic impact of cybercrimes has augmented and the time it takes to resolve these cybercrimes has doubled. The increase in data from numerous sources is difficult for several IT brigades. The companies are collecting data through several touchpoints. This data can include individual preferences, and streamlined contact information on services, products and communication platforms. Therefore, increasing privacy concerns will 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, Genesys which is a US-based software company acquired Pointillist and Exceed.ai for an undisclosed amount. Pointillist, US-based Company that offers customer-centric enterprises to enhance the customer experience. Exceed.ai, 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.
- In 2021, Teradata has announced the global availability of Teradata Vantage Customer Experience through a partnership with Celebrus. Vantage CX. With this partnership, Celebrus. Vantage CX allows organisations to offer relevant and tailored experiences in real time across all touchpoints and customer interactions.
North America 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
- 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 U.S., Canada and Mexico in North America.
U.S. dominates the customer journey analytics market due to the strong presence of large enterprises in this country. Moreover, increasing investments and budget allocations for digital media and marketing by Canadian and U.S. businesses 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.)
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