HOME Top Market Reports Customer Journey Analytics Market by Application (Customer Segmentation and Targeting, Customer Behavioral Analysis, Campaign Management), Touchpoint, Component, Deployment Model, Organization Size, Vertical, and Region - Global Forecast to 2022

Customer Journey Analytics Market by Application (Customer Segmentation and Targeting, Customer Behavioral Analysis, Campaign Management), Touchpoint, Component, Deployment Model, Organization Size, Vertical, and Region - Global Forecast to 2022

By: marketsandmarkets.com
Publishing Date: October 2017
Report Code: TC 5633

 

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The customer journey analytics market size is expected to grow from USD 4.22 Billion in 2016 to USD 12.22 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 20.8% between 2017 and 2022. The major growth drivers of the market include need for consistent customer experience throughout customer journey, reducing churn out rate of customers, and for competitive differentiation. The base year considered for this report is 2016 and the market forecast period is 2017–2022.

Objectives of the Study

The main objective of the report is to define, describe, and forecast the global market by applications, touchpoints, components, deployment models, organization sizes, verticals, and regions. The report provides detailed information regarding the major factors influencing the growth of the customer journey analytics market (drivers, restraints, opportunities, and industry-specific challenges). The report aims to strategically analyze the micromarkets with respect to individual growth trends, prospects, and contributions to the total market. The report attempts to forecast the market size with respect to 5 main regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. The report strategically profiles key players and comprehensively analyzes their core competencies. It also tracks and analyzes competitive developments, such as partnerships, collaborations, and agreements; mergers and acquisitions; new product launches and new product developments; and Research and Development (R&D) activities in the global market.

Research Methodology

The research methodology used to estimate and forecast the customer journey analytics market began with capturing data on key vendor revenues through secondary research, which included directories and databases (D&B Hoovers, Bloomberg Businessweek, and Factiva). The vendor offerings were also taken into consideration to determine the market segmentation. The bottom-up procedure was employed to arrive at the overall market size of the global customer journey analytics market that was derived from the revenue of the key players in the market. After arriving at the overall market size, the total market was split into several segments and subsegments, which were then verified through primary research by conducting extensive interviews with key people, such as Chief Executive Officers (CEOs), Vice Presidents (VPs), directors, and executives. The data triangulation and market breakdown procedures were employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments. The breakdown of profiles of primary participants is depicted in the following figure:

Customer Journey Analytics Market

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The customer journey analytics ecosystem comprises vendors, such as IBM Corporation (US), Salesforce.com, Inc. (US), Adobe Systems Incorporated (US), SAP SE (Germany), NICE Ltd. (Israel), Verint Systems Inc. (US), Pointillist (Luxembourg), ClickFox (US), Quadient (Switzerland), Kitewheel (US), Servion Global Solutions Ltd. (India), and CallMiner, Inc. (US).

The other stakeholders of the customer journey analytics market include customer journey analytics vendors, research organizations, network and system integrators, customer journey analytics managed service providers, Business Intelligence (BI) solution providers, marketing analytics executives, third-party service providers, and technology providers.

Customer Journey Analytics Key Target Audience

  • Service providers and distributors
  • Customer journey analytics application builders
  • Customer experience management professionals
  • Independent Software Vendors (ISVs)
  • Analytics consulting companies
  • Enterprises
  • End-users

“The study answers several questions for the stakeholders, primarily which market segments to focus on in the next 2–5 years for prioritizing efforts and investments.”

Scope of the Report

The research report categorizes the customer journey analytics market to forecast the revenues and analyze the trends in each of the following subsegments:

By Application

  • Customer segmentation and targeting
  • Customer behavioral analysis
  • Customer churn analysis
  • Campaign management
  • Brand management
  • Product management
  • Others (customer loyalty and process management)

By Touchpoint

  • Web
  • Social media
  • Mobile
  • Email
  • Branch/store
  • Call center
  • Others (surveys, promotional events, and sales representatives)

By Component

  • Software
  • Services
    • Managed services
    • Professional services
      • Support and maintenance services
      • Consulting services

By Deployment Model

  • On-premises
  • Cloud

By Organization Size

  • Small and Medium-Sized Enterprises (SMEs)
  • Large enterprises

By Industry Vertical

  • Banking, Financial Services, and Insurance (BFSI)
  • Retail and eCommerce
  • Government and Defense
  • Healthcare and Life Sciences
  • Manufacturing
  • Telecommunications and IT
  • Energy and Utilities
  • Media and Entertainment
  • Travel and Hospitality
  • Automotive and Transportation
  • Others (Education and Real Estate)

By Region

  • North America
    • US
    • Canada
  • Europe
    • UK
    • France
    • Germany
    • Rest of Europe
  • APAC
    • Australia
    • China
    • India
    • Rest of APAC
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America
  • MEA
    • Saudi Arabia
    • South Africa
    • Rest of Middle East and Africa

Available Customizations

With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the report:

Product Analysis

  • Product matrix gives a detailed comparison of the product portfolio of each company

Geographic Analysis

  • Further breakdown of the North American customer journey analytics market
  • Further breakdown of the European market
  • Further breakdown of the APAC market
  • Further breakdown of the Latin American market
  • Further breakdown of the MEA market

Company Information

  • Detailed analysis and profiling of additional market players up to 5.

Table of Contents

1 Introduction (Page No. - 17)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
    1.4 Years Considered for the Study
    1.5 Currency
    1.6 Stakeholders

2 Research Methodology (Page No. - 21)
    2.1 Research Data
           2.1.1 Secondary Data
           2.1.2 Primary Data
                    2.1.2.1 Breakdown of Primaries
                    2.1.2.2 Key Industry Insights
    2.2 Market Size Estimation
    2.3 Microquadrant Research Methodology
           2.3.1 Vendor Inclusion Criteria
    2.4 Research Assumptions
    2.5 Limitations

3 Executive Summary (Page No. - 29)

4 Premium Insights (Page No. - 36)
    4.1 Attractive Opportunities in the Customer Journey Analytics Market
    4.2 Market Share, By Region
    4.3 Market, By Verticaland Region

5 Market Overview and Industry Trends (Page No. - 39)
    5.1 Market Overview
           5.1.1 Market Dynamics
           5.1.2 Drivers
                    5.1.2.1 Need for Consistent Customer Experience Throughout Customer Journey
                    5.1.2.2 Reducing Churn Rate of Customers
                    5.1.2.3 Rising Need for Competitive Differentiation
           5.1.3 Restraints
                    5.1.3.1 Complexity of Data Synchronization
           5.1.4 Opportunities
                    5.1.4.1 Major Focus on Virtual Touchpoints
                    5.1.4.2 Need for Insights to Predict Customer Intents
           5.1.5 Challenges
                    5.1.5.1 Choosing the Right Mix of Technology and Personnel
                    5.1.5.2 Data Security and Privacy Issues
    5.2 Industry Trends
           5.2.1 Customer Journey Analytics Process
           5.2.2 Use Cases
                    5.2.2.1 Use Case 1: Enhance Customer Engagement With Proper Segmentation
                    5.2.2.2 Use Case 2: Improve Customer Targeting Based on Their Preferences
                    5.2.2.3 Use Case 3: Enhance Customer Experience
                    5.2.2.4 Use Case 4: Predict Customer Behavior in Future With Customer Behavioral Analysis
    5.3 Major Technologies Used in Customer Journey Analytics
           5.3.1 Big Data
           5.3.2 Machine Learning
           5.3.3 Predictive Analytics
    5.4 Customer Journey Analytics Market Analysis, By Data Format
           5.4.1 Text
           5.4.2 Image
           5.4.3 Audio/Speech
           5.4.4 Video

6 Customer Journey Analytics Market Analysis, By Application (Page No. - 51)
    6.1 Introduction
    6.2 Customer Segmentation and Targeting
    6.3 Customer Behavioral Analysis
    6.4 Customer Churn Analysis
    6.5 Brand Management
    6.6 Campaign Management
    6.7 Product Management
    6.8 Others

7 Customer Journey Analytics Market Analysis, By Touchpoint (Page No. - 59)
    7.1 Introduction
    7.2 Web
    7.3 Social Media
    7.4 Mobile
    7.5 Email
    7.6 Branch/Store
    7.7 Call Center
    7.8 Others

8 Customer Journey Analytics Market Analysis, By Component (Page No. - 67)
    8.1 Introduction
    8.2 Software
    8.3 Services
           8.3.1 Managed Services
           8.3.2 Professional Services
                    8.3.2.1 Support and Maintenance
                    8.3.2.2 Consulting Services

9 Customer Journey Analytics Market Analysis, By Deployment Model (Page No. - 75)
    9.1 Introduction
    9.2 On-Premises
    9.3 Cloud

10 Customer Journey Analytics Market Analysis, By Organization Size (Page No. - 79)
     10.1 Introduction
     10.2 Small and Medium-Sized Enterprises
     10.3 Large Enterprises

11 Customer Journey Analytics Market Analysis, By Vertical (Page No. - 83)
     11.1 Introduction
     11.2 Banking, Financial Services, and Insurance
     11.3 Telecommunications and IT
     11.4 Retail and Ecommerce
     11.5 Healthcare and Life Sciences
     11.6 Manufacturing
     11.7 Government and Defense
     11.8 Energy and Utilities
     11.9 Media and Entertainment
     11.10 Travel and Hospitality
     11.11 Automotive and Transportation
     11.12 Others

12 Geographic Analysis (Page No. - 96)
     12.1 Introduction
     12.2 North America
             12.2.1 By Component
             12.2.2 By Application
             12.2.3 By Touchpoint
             12.2.4 By Deployment Model
             12.2.5 By Organization Size
             12.2.6 By Vertical
             12.2.7 By Country
                        12.2.7.1 United States
                        12.2.7.2 Canada
     12.3 Europe
             12.3.1 By Component
             12.3.2 By Application
             12.3.3 By Touchpoint
             12.3.4 By Deployment Model
             12.3.5 By Organization Size
             12.3.6 By Vertical
             12.3.7 By Country
                        12.3.7.1 United Kingdom
                        12.3.7.2 France
                        12.3.7.3 Germany
                        12.3.7.4 Rest of Europe
     12.4 Asia Pacific
             12.4.1 By Component
             12.4.2 By Application
             12.4.3 By Touchpoint
             12.4.4 By Deployment Model
             12.4.5 By Organization Size
             12.4.6 By Vertical
             12.4.7 By Country
                        12.4.7.1 Australia
                        12.4.7.2 China
                        12.4.7.3 India
                        12.4.7.4 Rest of Asia Pacific
     12.5 Latin America
             12.5.1 By Component
             12.5.2 By Application
             12.5.3 By Touchpoint
             12.5.4 By Deployment Model
             12.5.5 By Organization Size
             12.5.6 By Vertical
             12.5.7 By Country
                        12.5.7.1 Brazil
                        12.5.7.2 Argentina
                        12.5.7.3 Rest of Latin America
     12.6 Middle East and Africa
             12.6.1 By Component
             12.6.2 By Application
             12.6.3 By Touchpoint
             12.6.4 By Deployment Model
             12.6.5 By Organization Size
             12.6.6 By Vertical
             12.6.7 By Country
                        12.6.7.1 Saudi Arabia
                        12.6.7.2 South Africa
                        12.6.7.3 Rest of Middle East and Africa

13 Company Profiles (Page No. - 124)
(Overview, Strength of Product Portfolio, Business Strategy Excellence, Recent Developments, MnM View, Key Relationships)*
     13.1 Salesforce
     13.2 IBM
     13.3 Adobe Systems
     13.4 Nice Systems
     13.5 SAP
     13.6 Verint Systems
     13.7 Pointillist
     13.8 Clickfox
     13.9 Quadient
     13.10 Kitewheel
     13.11 Servion
     13.12 Callminer

*Details on Ove Overview, Strength of Product Portfolio, Business Strategy Excellence, Recent Developments, MnM View, Key Relationships Might Not Be Captured in Case of Unlisted Companies.

14 Appendix (Page No. - 163)
     14.1 Key Insights of Industry Experts
     14.2 Discussion Guide
     14.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     14.4 Introducing RT: Real-Time Market Intelligence
     14.5 Available Customization
     14.6 Related Reports
     14.7 Author Details


List of Tables (87 Tables)
 
Table 1 United States Dollar Exchange Rate, 2014–2016
Table 2 Evaluation Criteria
Table 3 Company Ranking for Customer Journey Analytics Market, 2017
Table 4 Customer Journey Analytics Market Size, By Application, 2015–2022 (USD Million)
Table 5 Customer Segmentation and Targeting: Market Size, By Region, 2015–2022 (USD Million)
Table 6 Customer Behavioral Analysis: Market Size, By Region, 2015–2022 (USD Million)
Table 7 Customer Churn Analysis: Market Size, By Region, 2015–2022 (USD Million)
Table 8 Brand Management: Market Size, By Region, 2015–2022 (USD Million)
Table 9 Campaign Management: Market Size, By Region, 2015–2022 (USD Million)
Table 10 Product Management: Market Size, By Region, 2015–2022 (USD Million)
Table 11 Others: Market Size, By Region, 2015–2022 (USD Million)
Table 12 Customer Journey Analytics Market Size, By Touchpoint, 2015–2022 (USD Million)
Table 13 Web: Market Size, By Region, 2015–2022 (USD Million)
Table 14 Social Media: Market Size, By Region, 2015–2022 (USD Million)
Table 15 Mobile: Market Size, By Region, 2015–2022 (USD Million)
Table 16 Email: Market Size, By Region, 2015–2022 (USD Million)
Table 17 Branch/Store: Market Size, By Region, 2015–2022 (USD Million)
Table 18 Call Center: Market Size, By Region, 2015–2022 (USD Million)
Table 19 Others: Market Size, By Region, 2015–2022 (USD Million)
Table 20 Customer Journey Analytics Market Size, By Component, 2015–2022 (USD Million)
Table 21 Software: Market Size, By Region, 2015–2022 (USD Million)
Table 22 Services: Market Size, By Region, 2015–2022 (USD Million)
Table 23 Customer Journey Analytics Market Size, By Service, 2015–2022 (USD Million)
Table 24 Managed Services Market Size, By Region, 2015–2022 (USD Million)
Table 25 Professional Services Market Size, By Region, 2015–2022 (USD Million)
Table 26 Professional Services Market Size, By Type, 2015–2022 (USD Million)
Table 27 Support and Maintenance Market Size, By Region, 2015–2022 (USD Million)
Table 28 Consulting Services Market Size, By Region, 2015–2022 (USD Million)
Table 29 Customer Journey Analytics Market Size, By Deployment Model, 2015–2022 (USD Million)
Table 30 On-Premises: Market Size, By Region, 2015–2022 (USD Million)
Table 31 Cloud: Market Size, By Region, 2015–2022 (USD Million)
Table 32 Customer Journey Analytics Market Size, By Organization Size, 2015–2022 (USD Million)
Table 33 Small and Medium-Sized Enterprises: Market Size, By Region, 2015–2022 (USD Million)
Table 34 Large Enterprises: Market Size, By Region, 2015–2022 (USD Million)
Table 35 Customer Journey Analytics Market Size, By Vertical, 2015–2022 (USD Million)
Table 36 Banking, Financial Services, and Insurance: Market Size, By Region, 2015–2022 (USD Million)
Table 37 Telecommunications and IT: Market Size, By Region, 2015–2022 (USD Million)
Table 38 Retail and Ecommerce: Market Size, By Region, 2015–2022 (USD Million)
Table 39 Healthcare and Life Sciences: Market Size, By Region, 2015–2022 (USD Million)
Table 40 Manufacturing: Market Size, By Region, 2015–2022 (USD Million)
Table 41 Government and Defense: Market Size, By Region, 2015–2022 (USD Million)
Table 42 Energy and Utilities: Market Size, By Region, 2015–2022 (USD Million)
Table 43 Media and Entertainment: Market Size, By Region, 2015–2022 (USD Million)
Table 44 Travel and Hospitality: Market Size, By Region, 2015–2022 (USD Million)
Table 45 Automotive and Transportation: Market Size, By Region, 2015–2022 (USD Million)
Table 46 Others: Market Size, By Region, 2015–2022 (USD Million)
Table 47 Customer Journey Analytics Market Size, By Region, 2015–2022 (USD Million)
Table 48 North America: Customer Journey Analytics Market Size, By Component, 2015–2022 (USD Million)
Table 49 North America: Market Size, By Service, 2015–2022 (USD Million)
Table 50 North America: Market Size, By Professional Service, 2015–2022 (USD Million)
Table 51 North America: Market Size, By Application, 2015–2022 (USD Million)
Table 52 North America: Market Size, By Touchpoint, 2015–2022 (USD Million)
Table 53 North America: Market Size, By Deployment Model, 2015–2022 (USD Million)
Table 54 North America: Market Size, By Organization Size, 2015–2022 (USD Million)
Table 55 North America: Market Size, By Vertical, 2015–2022 (USD Million)
Table 56 Europe: Customer Journey Analytics Market Size, By Component, 2015–2022 (USD Million)
Table 57 Europe: Market Size, By Service, 2015–2022 (USD Million)
Table 58 Europe: Market Size, By Professional Service, 2015–2022 (USD Million)
Table 59 Europe: Market Size, By Application, 2015–2022 (USD Million)
Table 60 Europe: Market Size, By Touchpoint, 2015–2022 (USD Million)
Table 61 Europe: Market Size, By Deployment Model, 2015–2022 (USD Million)
Table 62 Europe: Market Size, By Organization Size, 2015–2022 (USD Million)
Table 63 Europe: Market Size, By Vertical, 2015–2022 (USD Million)
Table 64 Asia Pacific: Customer Journey Analytics Market Size, By Component, 2015–2022 (USD Million)
Table 65 Asia Pacific: Market Size, By Service, 2015–2022 (USD Million)
Table 66 Asia Pacific: Market Size, By Professional Service, 2015–2022 (USD Million)
Table 67 Asia Pacific: Market Size, By Application, 2015–2022 (USD Million)
Table 68 Asia Pacific: Market Size, By Touchpoint, 2015–2022 (USD Million)
Table 69 Asia Pacific: Market Size, By Deployment Model, 2015–2022 (USD Million)
Table 70 Asia Pacific: Market Size, By Organization Size, 2015–2022 (USD Million)
Table 71 Asia Pacific: Market Size, By Vertical, 2015–2022 (USD Million)
Table 72 Latin America: Customer Journey Analytics Market Size, By Component, 2015–2022 (USD Million)
Table 73 Latin America: Market Size, By Service, 2015–2022 (USD Million)
Table 74 Latin America: Market Size, By Professional Service, 2015–2022 (USD Million)
Table 75 Latin America: Market Size, By Application, 2015–2022 (USD Million)
Table 76 Latin America: Market Size, By Touchpoint, 2015–2022 (USD Million)
Table 77 Latin America: Market Size, By Deployment Model, 2015–2022 (USD Million)
Table 78 Latin America: Market Size, By Organization Size, 2015–2022 (USD Million)
Table 79 Latin America: Market Size, By Vertical, 2015–2022 (USD Million)
Table 80 Middle East and Africa: Customer Journey Analytics Market Size, By Component, 2015–2022 (USD Million)
Table 81 Middle East and Africa: Market Size, By Service, 2015–2022 (USD Million)
Table 82 Middle East and Africa: Market Size, By Professional Service, 2015–2022 (USD Million)
Table 83 Middle East and Africa: Market Size, By Application, 2015–2022 (USD Million)
Table 84 Middle East and Africa: Market Size, By Touchpoint, 2015–2022 (USD Million)
Table 85 Middle East and Africa: Market Size, By Deployment Model, 2015–2022 (USD Million)
Table 86 Middle East and Africa: Market Size, By Organization Size, 2015–2022 (USD Million)
Table 87 Middle East and Africa: Customer Journey Analytics Market Size, By Vertical, 2015–2022 (USD Million)


List of Figures (41 Figures)

Figure 1 Customer Journey Analytics Market: Market Segmentation
Figure 2 Regional Scope
Figure 3 Customer Journey Analytics Market: Research Design
Figure 4 Data Triangulation
Figure 5 Market Size Estimation Methodology: Bottom-Up Approach
Figure 6 Market Size Estimation Methodology: Top-Down Approach
Figure 7 Customer Journey Analytics Market: Assumptions
Figure 8 Market is Expected to Grow at A High CAGR During the Forecast Period
Figure 9 Customer Journey Analytics Market Snapshot, By Component (2017 vs 2022)
Figure 10 Customer Journey Analytics Market Snapshot, By Service (2017)
Figure 11 Market Snapshot, By Application (2017)
Figure 12 Market Snapshot, By Deployment Model (2017)
Figure 13 Market Snapshot, By Touchpoint (2017 vs 2022)
Figure 14 Market Snapshot, By Organization Size (2017–2022)
Figure 15 Market Snapshot, By Vertical (2017 vs 2022)
Figure 16 Market is Driven By the Need to Generate Valuable Insights From Customer Interaction Data Across Multiple Channels
Figure 17 North America is Estimated to Have the Largest Market Share in 2017 Due to the Early Adoption of Customer Journey Analytics Solutions in This Region
Figure 18 Banking, Financial Services, and Insurance Vertical, and North America are Estimated to Have the Largest Market Shares in 2017
Figure 19 Customer Journey Analytics Market: Drivers, Restraints, Opportunities, and Challenges
Figure 20 Reducing Customer Churn With Customer Journey Analytics
Figure 21 Customer Journey Stages
Figure 22 Customer Journey Analytics Process
Figure 23 Touchpoints: Customer Life Cycle
Figure 24 Product Management Application is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 25 Mobile Segment is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 26 Services Segment is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 27 Managed Services Segment is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 28 Consulting Services Segment is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 29 Cloud Deployment Model is Expected to Grow at the Higher CAGR During the Forecast Period
Figure 30 Small and Medium-Sized Enterprises Segment is Expected to Grow at the Higher CAGR During the Forecast Period
Figure 31 Retail and Ecommerce is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 32 Asia Pacific is Expected to Have the Highest CAGR in the Customer Journey Analytics Market During the Forecast Period
Figure 33 North America: Market Snapshot
Figure 34 Asia Pacific: Market Snapshot
Figure 35 Salesforce: Company Snapshot
Figure 36 IBM: Company Snapshot
Figure 37 Adobe Systems: Company Snapshot
Figure 38 Nice Systems: Company Snapshot
Figure 39 SAP: Company Snapshot
Figure 40 Verint Systems: Company Snapshot
Figure 41 Altisource Portfolio Solutions: Company Snapshot

The customer journey analytics market is expected to grow from USD 4.76 Billion in 2017 to USD 12.22 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 20.8%. The need for consistent customer experience throughout customer journey, reducing customer churn out rate, and competitive differentiation are expected to drive the growth of the global market.

The report provides detailed insights into the global customer journey analytics market, which is segmented by applications, touchpoints, components, deployment models, organization sizes, verticals, and regions. Among applications, the campaign management application would continue to dominate the market during the forecast period, owing to an increasing need to optimize campaigns based on individual customer journey patterns and design tailored marketing campaigns or promotions to acquire or retain customers. The product management application is expected to grow at the fastest rate, owing to increased prevalence of customer journey mapping to incorporate new product features, functionalities, and prices.

Among touchpoints, the email segment is expected to continue its dominance owing to its increasing use in promoting new offers and resolving queries. The mobile segment is expected to grow at the fastest rate, due to an increased volume of interactions through mobile apps during early stages of customer journeys as well as growing adoption of smartphones among consumers.

In the component segment, the customer journey analytics software segment is expected to gain a larger market share during the forecast period. The demand for customer journey analytics software is rising, as organizations need a solution to monitor and analyze customer interactions to understand their feelings, emotions, and sentiments. Customer journey analytics vendors provide software that assist companies with the data collection and analysis for generating meaningful insights into customer sentiments, voice of the customer, and the volume of interactions. Customer journey analytics software analyze the data in different formats, such as video, images, text, or audio.

The cloud deployment model is expected to grow at a higher rate during the forecast period. Cloud-based solutions are gaining a firm hold in the market due to its benefits such as cost control, resource pooling, and less implementation time.

The retail and eCommerce vertical is expected to grow at the highest rate during the forecast period. Customer journey analytics can be used by retail and eCommerce vendors to define customer segments, improvise product features, brand management, and measure campaign performance.

Large enterprises are expected to dominate the market in terms of market share, as they are keenly focusing on customer experience management to encourage repeat business and improve customer loyalty. However, the Small and Medium-Sized Enterprises (SMEs) are expected to grow at a higher CAGR, owing to the easy availability and scalability of cloud-based deployments.

Customer Journey Analytics Market

The report covers all the major aspects of the customer journey analytics market and provides an in-depth analysis across the 5 major regions: North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. North America, owing to the early adoption of new and emerging technologies and the presence of the major industry players, is expected to continue to dominate the customer journey analytics market during the forecast period. The APAC region is expected to grow at the highest CAGR during the forecast period, owing to the growing adoption of customer journey analytics software and services among SMEs.

Increasing need for consistenet customere experience management, reducing churn out rate of customers, and for competitive differetniation are expected to drive the market growth. However, the complexity in data synchronization would restrain the market growth. An increasing focus on virtual touchpoints and need for insights to predict customer intents would provide lucrative opportuntities.

The global customer journey analytics market is fragmented in nature, as no single vendor dominates the market. Major vendors of customer journey analytics software and services include IBM Corporation (US), Salesforce.com, Inc. (US), Adobe Systems Incorporated (US), SAP SE (Germany), NICE Ltd. (Israel), Verint Systems Inc. (US), Pointillist (Luxembourg), ClickFox (US), Quadient (Switzerland), Kitewheel (US), Servion Global Solutions Ltd. (India), and CallMiner, Inc. (US). These vendors have adopted different types of organic and inorganic growth strategies, such as new product launches, partnerships and collaborations, expansions, and acquisitions, to expand their reach in the customer journey analytics market.

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