Customer Analytics Market, By Component (Software, Services, Managed Services, and Professional Services), By Deployment (On-premises and Cloud), By Organization (Small & Medium-Sized Enterprises (SMEs) and Large enterprises), By Data Source (Web, Social Media, Smartphone, Email, Call Center, and Others), By Application (Brand Management, Campaign Management, Churn Management, Customer Behavioral Analysis, Product Management, and Others), By Industry Vertical (Banking, Financial Services, and Insurance (BFSI), Retail and e-commerce, Telecommunications and IT, Energy and Utilities, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2030

Customer analytics is a practice by which data from customer behavior is used to help make key business decisions through market predictive and segmentation analytics. This information is utilized by businesses for customer relationship management, direct marketing, and site selection. The global Customer Analytics market accounted for US$ 10.50 billion in 2020 and is estimated to be US$ 54.59 billion by 2030 and is anticipated to register a CAGR of 18.1%.

Growing demand for improved customer satisfaction

Due to the increasing demand for enhanced customer satisfaction, the global market presence is growing faster. In the retail industry, the use of customer analytics is high due to development of personalized communications and marketing programs. This may help to improve customer loyalty and experience, by precisely knowing which consumers are buying which products, and personalizing marketing based on shopper data. Further, delivering a good shopping experience led to better customer satisfaction, repeat purchases, customer referrals, customer loyalty, customer engagement, and revenues.

Growth in social media

Growth in social media concern is a key factor for the target market growth. Social media analytics involves measurement, monitoring, and analysis tools to uncover customer sentiments and businesses through social media platforms by connecting their product list with e-commerce sites. This helps in fostering relationships and monitoring people. Prominent sellers, such as Walmart and Amazon, have effectively managed to harness the advantages offered by different social media platforms, such as Twitter and Facebook.

However, privacy concern and data security is a major restraint to the global market. Big data architecture in customer analytics might become more dangerous to secure, which is projected to be a threat to the loss of information.

Customer analytics market is segmented based on component, deployment, organization, data source, application, industry vertical, and region.

On the basis of component, the global customer analytics market is segmented into software, services, managed services, and professional services. Based on deployment, the target market is segmented into on-premises and cloud. Based on organization, the target market is segmented into small & medium-sized enterprises (SMEs) and large enterprises. Based on data source, the target market is segmented into web, social media, smartphone, email, call center, and others. Based on application, the target market is segmented into brand management, campaign management, churn management, customer behavioral analysis, product management, and others. Based on industry vertical, the target market is segmented into banking, financial services, and insurance (BFSI), retail and e-commerce, telecommunications and it, energy and utilities, and others.

Regional Insights:

Customer Analytics market accounted for US$ 10.50 billion in 2020 and is estimated to be US$ 54.59 billion by 2030 and is anticipated to register a CAGR of 18.1%. On region the global customer analytics market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is projected to account for highest share in the global customer analytics market, whereas Asia Pacific (APAC) is anticipated to grow at the highest CAGR throughout the coming years. The U.S. and Canada dominates the region owing to presence of organizations having deployed customer analytics solutions to use customer data to stay competitive in the market. Growing customer information through numerous data sources is driving better integrations and new development in customer analytics solutions and services to meet various business and customer needs. Additionally, North America is home to multiple customer analytics solution retailers, such as Microsoft, Google, Oracle, Adobe, SAP, and Salesforce.

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2020 to 2030. For the purpose of this study, has segmented the global Customer Analytics market report based on component, deployment, organization, data source, application, industry vertical, and region..

Customer Analytics Market, By Region:

• North America
  • Middle East & Africa
    • • GCC
      • Israel
      • South Africa
      • Rest of Middle East & Africa
  • Latin America
    • • Brazil
      • Mexico
      • Rest of Latin America
  • Asia Pacific
    • • China
      • India
      • Japan
      • South Korea
      • Rest of Asia Pacific
  • Europe
    • • Germany
      • UK
      • France
      • Russia
      • Italy
      • Rest of Europe
  • • U.S.
    • Canada

The key players operating the global customer analytics market includes Google, Microsoft, Adobe, SAP, Oracle, SAS Institute, Teradata, Salesforce, Mixpanel, Second Measure, Manthan System, Absolute Data, and NGData. These retailers have undertaken several organic and inorganic growth strategies, such as partnerships and collaborations, new product launches, and mergers and acquisitions, to increase their presence in the global customer analytics market. For instance, in February 2019, IBM declared that BUCKiTDREAM, a new loyalty rewards commerce platform that better connects consumers with brands, is using Watson Marketing to provide improved personalized brand engagement experiences. BUCKiTDREAM's aim is to use the future intention data analysis to redefine the consumer loyalty rewards industry, which deals with inactive accounts, low engagement rates, and high liabilities from unredeemed loyalty points.

• Google
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies

• Microsoft
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• Adobe
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• SAP
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• Oracle
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• SAS Institute
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• Teradata
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• Salesforce
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• Mixpanel
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• Second Measure
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• Manthan System
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• Absolute Data
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• NGData
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies

 “*” marked represents similar segmentation in other categories in the respective section