The global customer journey analyticsmarket size reached US$ 11.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 29.6 Billion by 2028, exhibiting a growth rate (CAGR) of 17.5% during 2023-2028.
Customer journey analytics refers to the process of analyzing and tracking customer experience across every touchpoint in the customer journey. It involves acquisition, activation and adoption as its three main stages. It is widely used by organizations and enterprises to provide real-time insights into customer behavior. Customer journey analytics encompasses advanced analytics methods, such as customer segmentation, predictive analytics and real-time analytics. It combines data from every channel into a single interface that assists in making better decisions with a holistic view. It also aids in predicting customer behavior, improving consumer experience, increasing revenue and boosting customer acquisition. As a result, it is widely used across telecommunications, healthcare, hospitality, travel, and banking, financial services and insurance (BFSI) industries.
Customer Journey Analytics Market Trends:
The emergence of digitalization across the globe is creating a positive outlook for market growth. In addition to this, the increasing need to convert information into digital form to gain insights that support strategic decision-making in various organizations is favoring the market growth. Moreover, the widespread product adoption to perform traffic and e-commerce analytics is driving the development of the market. Apart from this, various technological advancements, such as the integration of artificial intelligence (AI) that assists in providing intelligent, convenient and informed customer experience during the customer journey, are providing an impetus to the market growth. Furthermore, the increasing product demand in the retail and e-commerce industries to track the customer journey across multiple channels in real-time and the introduction of personalized omnichannel experience is positively impacting the market growth. Other factors, including widespread adoption of analytics software in various industries, increasing penetration of smartphones, and the growing demand for consistent customer support across multiple platforms, are anticipated to drive the market further.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global customer journey analyticsmarket report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on component, touchpoint, deployment, organization size, application and industry vertical.
Breakup by Component:
Breakup by Touchpoint:
Branch and Store
Breakup by Deployment:
Breakup by Organization Size:
Small and Medium-sized Enterprises
Breakup by Application:
Customer Segmentation and Targeting
Customer Behavioral Analysis
Customer Churn Analysis
Breakup by Industry Vertical:
IT and Telecommunications
Retail and E-Commerce
Media and Entertainment
Travel and hospitality
Breakup by Region:
Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being Adobe Inc., Callminer Inc., Cisco Systems Inc., Genesys Telecommunications Laboratories Inc., Google LLC (Alphabet Inc.), International Business Machines Corporation, Microsoft Corporation, NICE Ltd., Oracle Corporation, Salesforce Inc., SAP SE, Teradata Corporation and Verint Systems Inc.
Base Year of the Analysis
Component, Touchpoint, Deployment, Organization Size, Application, Industry Vertical, Region
Asia Pacific, Europe, North America, Latin America, Middle East and Africa
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Adobe Inc., Callminer Inc., Cisco Systems Inc., Genesys Telecommunications Laboratories Inc., Google LLC (Alphabet Inc.), International Business Machines Corporation, Microsoft Corporation, NICE Ltd., Oracle Corporation, Salesforce Inc., SAP SE, Teradata Corporation and Verint Systems Inc.
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Key Questions Answered in This Report
The global customer journey analytics market was valued at US$ 11.1 Billion in 2022.
We expect the global customer journey analytics market to exhibit a CAGR of 17.5% during 2023-2028.
The extensive utilization of customer journey analytics across numerous industries, such as healthcare, hospitality, travel, etc., to predict customer behavior, improve consumer experience, increase revenue, boost customer acquisition, etc., is primarily driving the global customer journey analytics market.
The sudden outbreak of the COVID-19 pandemic has led to the rising adoption of customer journey analytics to track the customer journey real-time in multiple channels, owing to the changing consumer inclination towards online retail platforms for the purchase of various products and services.
Based on the component, the global customer journey analytics market can be categorized into solution and services, where solution currently exhibits a clear dominance in the market.
Based on the touchpoint, the global customer journey analytics market has been segmented into web, social media, mobile, email, branch and store, call center, and others. Currently, email accounts for the majority of the total market share.
Based on the deployment, the global customer journey analytics market can be divided into on-premises and cloud-based, where on-premises exhibit clear dominance in the market.
Based on the application, the global customer journey analytics market has been segregated into customer segmentation and targeting, customer behavioral analysis, customer churn analysis, brand management, campaign management, product management, and others. Among these, campaign management currently holds the largest market share.
Based on the industry vertical, the global customer journey analytics market can be bifurcated into BFSI, IT and telecommunications, retail and e-commerce, healthcare, media and entertainment, travel and hospitality, and others. Currently, the BFSI industry exhibits clear dominance in the market.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global customer journey analytics market include Adobe Inc., Callminer Inc., Cisco Systems Inc., Genesys Telecommunications Laboratories Inc., Google LLC (Alphabet Inc.), International Business Machines Corporation, Microsoft Corporation, NICE Ltd., Oracle Corporation, Salesforce Inc., SAP SE, Teradata Corporation, and Verint Systems Inc.
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