Global Customer journey analytics Market

Customer Journey Analytics Market Size, Share, Growth Analysis, By Deployment model(On-premises, Cloud), By Application(Brand Management, Campaign Management, Product Management, Customer Segmentation and Targeting), By Data source(Email, Social Media, Mobile, Web), By Organization size(Large enterprises, and SMEs), By Vertical(BFSI, Government, Healthcare and Life Sciences, Retail and Ecommerce), By Region - Industry Forecast 2024-2031

Report ID: SQMIG45A2097 | Region: Global | Published Date: August, 2024
Pages: 197 | Tables: 118 | Figures: 77

Customer Journey Analytics Market News

 

  • In May 2024, Salesforce expanded its Einstein Copilot competencies by launching novel features for vendors and marketers. This trustworthy and reliable AI assistant by Salesforce assists businesses of all types with everyday merchandizing and marketing tasks besides its extra functionalities for services and sales. 
  • In March 2023, Adobe declared the launch of its novel solutions to communicate with cross-channel information and understanding on customer journey analytics. The novel competencies allow product groups to self-seek their insights and data on service experience by guided workflows.
  • In October 2022, Appier announced the final completion of Woopra for strengthening its dominant ranking in processing 1st party data to create next-gen CDP using user-centric visualization analytics and improved AI technology.
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Global Customer Journey Analytics Market size was valued at USD 12.26 Billion in 2022 and is poised to grow from USD 14.74 Billion in 2023 to USD 64.21 Billion by 2031, at a CAGR of 20.2% during the forecast period (2024-2031).

The global customer journey analytics market is a highly competitive global market driven by many international competitors. Prominent corporations with cutting-edge AI and ML technology are Google, IBM, Microsoft, and NVIDIA. To support a wide range of applications across industries, these industry experts concentrate on creating cutting-edge algorithms, scalable platforms, and reliable infrastructure. Rapid advances in technology, strategic alliances, and large expenditures on research and development define the competitive environment. 'Adobe Inc. (US) ', 'Salesforce.com, Inc. (US) ', 'IBM Corporation (US) ', 'SAP SE (Germany) ', 'Verint Systems Inc. (US) ', 'NICE Ltd. (Israel) ', 'Salesforce.com, Inc. (US) ', 'Woopra Inc. (US) ', 'Acquia, Inc. (US) ', 'ClickFox, Inc. (US) ', 'ENGAGEMENT LABS INC. (Canada) ', 'Glassbox (Israel) ', 'Adoreboard (Northern Ireland) ', 'CaliberMind (US) ', 'LatentView Analytics (US) ', 'Oracle Corporation (US} ', 'Google Analytics (US) ', 'SAS Institute Inc. (US) ', 'Teradata Corporation (US) ', 'Pega Systems Inc. (US)'

Since consumers interact with brands in diverse channels like websites, social media, offline stores, there has been an increased need for simplified view of consumer journey. Advanced analytics for consumer journey aids businesses to analyze and track their connections inclusively. Consumers are expecting more tailored experience hence companies are using analytics to differentiate consumers and personalize marketing messages, services, and products to meet the increasing demands. 

Focus on Real-Time Analysis and Personalization: The market is witnessing increased demand for data processing in real-time for streamlined and quick decision-making. Businesses are heavily investing in technologies that offer real-time understandings for consumer connections in diverse channels. Personalized marketing is of growing significance as customers are expecting customized experiences. Hence, businesses are using customer journey analytics solutions for offering more customized services and offers depending on individual needs. 

Geographically, North America dominated the market in the previous years and is expected to lead over the forecast period owing to the growing number of technological improvements, faster adoption of improved technologies, and the presence of strong digital infrastructure. North America is the center for a large number of innovations and technological improvements that fuel the use of machine learning and AI technologies. Companies in the region are the speedy adopters of advanced technologies that focus on providing better consumer experience. Strong infrastructure in the region also supports unbroken integration of data and analytics competencies in different platforms. Businesses in the region are also focusing on personalized marketing that fuels the demand for advanced analytics tools for improved consumer interaction. The key players profiled in the region include Adobe Experience Cloud, Salesforce, Oracle, SAP Customer Experience, Google Analytics, Mix panel, and more. 

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Global Customer journey analytics Market

Report ID: SQMIG45A2097

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