The Business Research Company’s report on the Customer Journey Analytics Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
What are the primary drivers fueling the growth of the customer journey analytics market in recent years?
The adoption of big data analytics is expected to propel the growth of the customer journey analytics market going forward. Data analytics can be referred to as the process of analyzing raw data in order to draw conclusions and help businesses optimize their performance. Businesses employ big data and data analytics to have a strong customer journey analytics platform, where companies collect user actions in one central database to get valuable insight into customer behavior, which results in an increase in the demand for analytics services. For instance, according to ZDNet, a US-based business technology news website, the big data analytics market is expected to reach $103 billion by 2023, with 45% of enterprises running their big data workloads in the cloud. Therefore, the adoption of big data analytics is driving the demand for the consumer journey analytics market growth.
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What is the projected market size of the customer journey analytics industry, and how is it expected to grow?
The customer journey analytics market size has grown rapidly in recent years. It will grow from $14.54 billion in 2024 to $17.35 billion in 2025 at a compound annual growth rate (CAGR) of 19.4%. The growth in the historic period can be attributed to customer-centric business approach, proliferation of data sources, personalization and targeted marketing, real-time insights and actionability, compliance and data privacy concerns.
The customer journey analytics market size is expected to see exponential growth in the next few years. It will grow to $38.2 billion in 2029 at a compound annual growth rate (CAGR) of 21.8%. The growth in the forecast period can be attributed to enhanced customer experience focus, omnichannel customer journey analysis, ai and machine learning adoption, real-time analytics capabilities, data integration and unification solutions. Major trends in the forecast period include cross-functional collaboration, business process optimization, privacy and data security compliance, customer retention and loyalty, predictive and prescriptive analytics.
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Who are the key players driving competition in the customer journey analytics market?
Major companies operating in the customer journey analytics market include Acxiom LLC, NICE Ltd, Quadient, Salesforce. com Inc., Verint Systems Inc., Kitewheel LLC, Servion Global Solutions Limited, Amperity Inc., Google LLC, Microsoft Corporation, Genesys Telecommunications Laboratories Inc, Oracle Corporation, International Business Machines Corporation, Adobe Inc., SAP SE, Pointillist Inc., ClickFox Inc., BryterCX Inc., Teradata Corporation, MoEngage Inc., NetBase Quid Inc., Accenture plc, SAS Institute Inc., Tealium Inc., Mixpanel Inc., Woopra Inc., FullStory Inc., Amplitude Inc., ContentSquare SAS, Quantum Metric Inc., Glassbox Ltd., SessionCam Ltd., Decibel Insight Ltd., Smartlook s. r. o., UserReplay Ltd.
What key trends are expected to drive the customer engagement solution market during the forecast period?
The emergence of artificial intelligence and machine learning is a key trend gaining popularity in the customer journey analytics market. Artificial intelligence is used as part of a comprehensive digital transformation strategy to increase customer satisfaction, make strategic use of customer data, automate labor, increase responsiveness, and speed up data-driven decision-making. Major companies operating in the customer journey analytics sector are focused on introducing new technologies to improve customer experience. For instance, September 2022, IgniteTech, a US-based provide a full suite of enterprise software solutions, enhanced its BryterCX platform by integrating Iris Insights which employs predictive analytics to improve customer journey analytics. This development leverages artificial intelligence and machine learning to detect and resolve customer experience issues in real time, ultimately helping organizations optimize customer interactions more effectively
Which key geographies are driving the growth of the customer journey analytics market?
North America was the largest region in the customer journey analytics market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the customer journey analytics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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What are the key segments driving growth in the customer journey analytics market?
The customer journey analytics market covered in this report is segmented –
1) By Component: Solution, Services
2) By Organization Size: Large Enterprises, Small and Medium-sized Enterprises (SMEs)
3) By Data Source: Web, Social Media, Mobile, Email, Store, Call Center, Other Data Sources
4) By Application: Customer Segmentation and Targeting, Customer Behavioral Analysis, Customer Churn Analysis, Brand Management, Campaign Management, Product Management, Other Applications
5) By Industry Vertical: BFSI, IT And Telecom, Healthcare, Retail And eCommerce, Government And Defense, Media And Entertainment, Manufacturing, Other Industry Verticals
Subsegments:
1) By Solution: Data Analytics Tools, Visualization Tools, Customer Segmentation Solutions, Attribution Modeling Solutions
2) By Services: Consulting Services, Implementation Services, Support And Maintenance Services, Training Services
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How is the customer journey analytics market defined?
Customer journey analytics refer to evaluating customer behavior across touchpoints and time to determine how customer behavior affects behavior outcomes. The methods for customer journey analytics are predictive analytics, real-time analytics, and customer segmentation. The customer journey analytics are used to assist organizations in activating and improving engagement throughout the customer journey with their accessible, collaborative interface.
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