Growing need for customer analytics in enhancing customer experience and loyalty, through predictive analysis as well as personalizing marketing on the past data of the potential customers is driving the market growth.
JERSEY CITY, N.J., Sept. 28, 2021 /PRNewswire/ -- Verified Market Research recently published a report, "Customer Analytics Market" By Component (Solution and Service), By Deployment (On-Premises Deployment and Cloud Deployment), By End-User (BFSI, Wholesale and Retail, Telecommunication and IT, Utilities), and By Geography. According to Verified Market Research, the Global Customer Analytics Market size was valued at USD 5.24 Billion in 2020 and is projected to reach USD 20.82 Billion by 2028, growing at a CAGR of 19.30% from 2021 to 2028.
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Browse in-depth TOC on "Customer Analytics Market"
202 - Pages
126 - Tables
37 - Figures
Global Customer Analytics Market Overview
The growth of the global customer analytics market is accounted due to the rising demand for improved customer satisfaction, the market studied is growing faster. Customer Analytics is highly used in the retail industry for the development of personalized communications and marketing programs.
Growth in social media concern is a key driver for the market studied. Social media analytics combines monitoring, measurement, and analysis tools to uncover user sentiments and businesses with customers through social media platforms by associating their product list with e-commerce sites, which helps in monitoring people and fostering relationships. Prominent retailers, such as Amazon and Walmart, have successfully managed to harness the benefits offered by different social media platforms, such as Facebook and Twitter.
Key Developments in Customer Analytics Market
- In March 2020, Google Cloud signed a partnership with ThoughtSpot, a leader in search and AI-driven analytics to empower enterprises with cloud analytics. Under this partnership, the companies would launch Embrace for Google Cloud, which allows enterprises to run search and AI-driven analytics directly in Google BigQuery, without moving or caching any data.
- In June 2019, Salesforce acquired Tableau, a leading provider of analytical data, which would strengthen the Salesforce Customer 360 platform, enabling customers to make smarter decisions.
The major players in the market are Pitney Bowes Inc., Oracle Corporation, International Business Machine, Fair Isaac Corporation, Angoss Software Corporation, Actuate Software Corporation, SAP AG, SAS Institute Inc., Teoco Corporation, and Verint System Inc.
Verified Market Research has segmented the Global Customer Analytics Market On the basis of Component, Deployment, End-user, and Geography.
- Customer Analytics Market, By Component
- Solution
- Service
- Customer Analytics Market, By Deployment
- On-Premises
- Cloud
- Customer Analytics Market, By End-User
- BFSI
- Wholesale and Retail
- Telecommunication and IT
- Utilities
- Healthcare
- Travel and Hospitality
- Others
- Customer Analytics Market by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
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