Global Service Analytics Market Overview:
Service analytics describes the process of taking, processing, as well as evaluating the data generated from the execution of a service system to improve, extend, & personalize a service for creation of value for providers & customers. This is used for making productive agents, smarter managers, & most notably delighted customers. With help of service analytics solutions, it is easy to practice into customer’s profile, update case history, & also directly collaborate with the team from the service cloud console. As several business sectors are looking for refining their businesses with cloud-based services rather than on-premises, the global service analytics market is likely to grow over the coming years. With increasing use of business intelligence & big data together with rising social media awareness among consumers is expected to further impel the global service analytics market growth. Some of the key players profiled in the study are Oracle Corporation (United States ), Salesforce.com, Inc. (United States ), ServiceNow, Inc. (United States ), SAP SE (Germany), SAS Institute (United States ), Tableau Software (United States ), Microsoft Corporation (United States ), ClickSoftware Technologies (United States ), Sisense (United States) and MicroStrategy Incorporated (United States). According to Market Analyst at AMA, the Global Service Analytics market may see a growth rate of 13.8% and would reach the market size of USD1.14 Billion by 2024.
On the basis of geography, the market of Service Analytics has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2018. If we see Market by Deployment Model, the sub-segment i.e. On-premises will boost the Service Analytics market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Industry, the sub-segment i.e. BFSI will boost the Service Analytics market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Component, the sub-segment i.e. Solution will boost the Service Analytics market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Business Application, the sub-segment i.e. Customer Service Analytics will boost the Service Analytics market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Requirement for better client & customer interaction
- Increasing adoption of service analytics solution & services among SMEs
- Rising digitization & growing adoption of Internet of Things-based technologies
Market Trend
- Increasing Adoption of Cloud Solutions by Organizations
Restraints
- Obsolete IT infrastructure
- Low awareness of service analytics
Opportunities
- Occurrence of AI-Powered customer services
- Increased adoption of analytics among SMEs
Challenges
- Difficult and unproductive data management
The key players in the market have adopted variety of organic and inorganic growth strategies, including partnerships and collaborations, new product launches, expansions, & acquisitions, to enlarge their offerings in the service analytics market over the near future.
Target Audience:
Services analytics providers, Application developers, Third-party vendors, Independent Software Vendors (ISVs), Enterprises and End-users
Major Objectives Focused through this Study
To define, describe, and forecast the Global Service Analytics market on the basis of product [] , application [], key regions and end user
To provide in-depth information regarding major influencing factors affecting the growth of the market (trends, drivers, restraints, opportunities, and industry-centric and regional challenges)
To strategically analyse the micro-markets and important business segments with respect to individual growth drivers , market trends and potential, and historical contributions to the total market
Identifying the opportunities in the market for key stakeholders and detailing the competitive landscape for market leaders
To provide market size for various segments of the Service Analytics market with respect to major geographies, namely, South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico)
To strategically profile the key players and analyzing their market shares and core competencies in the Service Analytics industry
To track key developments such as product launches, expansions, agreements, partnerships, mergers & acquisitions, and R&D activities that are key factors in shaping the market
Available Customization:
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**. Additionally, the Players which are also part of the research are Centina Systems (United States), Paskon (United States), Numerify, Inc. (United States) and Field Squared Inc. (United States).
** Confirmation on availability of data would be informed prior purchase
While framing the research framework, major and emerging players operating in the Service Analytics market in various regions have been profiled, and their offerings, geographic footprints, and distribution/sales channels have been analysed through in-depth discussions. Top-down and bottom-up approaches have been used to determine the overall market size. Sizes of the other individual markets have been estimated using the percentage splits obtained through secondary sources such as Hoovers, Bloomberg BusinessWeek, and Dow Jones (Factiva), along with primary respondents. The complete methodology includes the study of the annual and financial reports of the key market players and extensive interviews with industry experts such as CEOs, VPs, directors, and marketing executives for key insights (both qualitative and quantitative) related to the market.