What is Customer Journey Analytics?
Customer journey analytics is defined as the process of tracking and analyzing the way customers use combinations of channels to interact with an organization and covers all channels present and future which interface directly with customers. It gives marketers and customer experience to understand and engage with individual customers at a personal level, at scale. Organizations can discover the most important customer journeys and prioritize those opportunities that significantly impact business goals like increasing revenue, reducing churn and improving customer experience by analyzing millions of data points in real-time.
The market study is broken down by Type (Software and Services (Managed services, Professional services, Support and maintenance services, Consulting services)), by Application (Customer Behavioral Analysis, Customer Churn Analysis, Customer Segmentation and Targeting, Product Management, Campaign Management, Brand Management and Others) and major geographies with country level break-up.
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.The Players having a strong hold in the market are IBM, Salesforce.com, Inc., Adobe Systems Incorporated, and SAP SE. Analysts at AMA Research estimates that Players from United States and European will contribute to the maximum growth of Global Customer Journey Analytics market throughout the predicted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
IBM (United States), Salesforce.com, Inc. (United States), Adobe Systems Incorporated (United States), SAP SE (Germany), NICE Ltd. (Israel), Verint Systems Inc. (United States), Pointillist (Luxembourg), ClickFox (United States), Quadient (Switzerland) and Kitewheel (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Servion Global Solutions Ltd. (India) and CallMiner, Inc. (United States).
AdvanceMarketAnalytics has segmented the market of Global Customer Journey Analytics market by Type, Application and Region.
On the basis of geography, the market of Customer Journey 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). If we see Market by End Use Verticals, the sub-segment i.e. BFSI will boost the Customer Journey Analytics market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Organization Size, the sub-segment i.e. Small and Medium-Sized Enterprises (SMEs) will boost the Customer Journey Analytics market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Deployment, the sub-segment i.e. Cloud-based will boost the Customer Journey Analytics market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Pricing Type, the sub-segment i.e. Monthly Subscription will boost the Customer Journey Analytics market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Touchpoint, the sub-segment i.e. Social media will boost the Customer Journey Analytics market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
On 13th June 2018, Salesforce has announced new innovations across marketing, commerce, and service enabling brands worldwide to deliver smarter, more personalized and connected customer experiences. In addition, Salesforce and Google continued to deliver on their strategic partnership with new integrations between Salesforce Marketing Cloud and Google Analytics 360 becoming available.
- Rising use of Big Data and Analytics Techniques in Various Organizations
- Growing Focus on Virtual Touchpoints
- Rising Need for Insights to Predict Customer Intents
- Complicated Data Synchronization
- Issue Related with Data Security and Data Privacy
Key Target AudienceCustomer Journey Analytics Providers, Potential Technology Investors, Regulatory & Government Bodies, Downstream Vendors, End Users and Other
About ApproachTo evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have the better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with purpose to understand companys positioning regarding market value, volume and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders etc. and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.