New York, Sept. 30, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Customer Journey Analytics Global Market Report 2022" - https://www.reportlinker.com/p06323884/?utm_source=GNW
The global customer journey analytics market is expected to grow from $8.40 billion in 2021 to $10.44 billion in 2022 at a compound annual growth rate (CAGR) of 24.3%. The customer journey analytics market is expected to grow to $22.42 billion in 2026 at a CAGR of 21.1%.
The customer journey analytics market consists of the sale of customer journey analytics solutions and services by entities (organizations, sole traders, and partnerships) that are used to assist organizations in activating and improving engagement throughout the customer journey with their accessible, collaborative interface.Customer journey analytics refers to evaluating customer behaviour across touchpoints and time to determine how customer behaviour affects behavior outcomes.
The methods for customer journey analytics are predictive analytics, real-time analytics, and customer segmentation.
The main components of customer journey analytics are solutions and services.Solution refers to applications that enable businesses to manage the customer experience across channels and interfaces.
The various organization levels in customer journey analytics are large enterprises, small and medium-sized enterprises (SMEs) that use several data sources such as the web, social media, mobile, email, stores, call centers, and others.The different applications include customer segmentation and targeting, customer behavioral analysis, customer churn analysis, brand management, campaign management, product management, and others.
It is employed in BFSI, IT and telecom, healthcare, retail and eCommerce, government and defense, media and entertainment, manufacturing, and other industry verticals.
North America was the largest region in the customer journey analytics market in 2021.Asia Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the customer journey analytics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The customer journey analytics market research report is one of a series of new reports that provides Customer journey analytics market statistics, including customer journey analytics industry global market size, regional shares, competitors with a customer journey analytics market share, detailed Customer journey analytics market segments, market trends and opportunities, and any further data you may need to thrive in the customer journey analytics industry. This anomaly detection market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The adoption of big data analytics is expected to propel the growth of the customer journey analytics market going forward.Data analytics can be referred to as the process of analyzing raw data in order to draw conclusions and help businesses optimize their performance.
Businesses employ big data and data analytics to have a strong customer journey analytics platform, where companies collect user actions in one central database to get valuable insight into customer behavior, which results in an increase in the demand for analytics services.For instance, according to ZDNet, a US-based business technology news website, the big data analytics market is expected to reach $103 billion by 2023, with 45% of enterprises running their big data workloads in the cloud.
Therefore, the adoption of big data analytics is driving the demand for the consumer journey analytics market.
The emergence of artificial intelligence and machine learning is a key trend gaining popularity in the customer journey analytics market.Artificial intelligence is used as part of a comprehensive digital transformation strategy to increase customer satisfaction, make strategic use of customer data, automate labor, increase responsiveness, and speed up data-driven decision-making.
Major companies operating in the customer journey analytics sector are focused on introducing new technologies to improve customer experience. For instance, in January 2021, BryterCX, a US-based customer journey intelligence company, launched IRIS, an AI-enabled flagship platform with the development of new journeys science tools such as orchestration, mapping, and CX (Customer experience) monitoring and management, offers a comprehensive solution for managing and enhancing customer journeys to journey analysts, business line owners, and CX executives.
In December 2021, Genesys, a US-based software company engaged in offering customer experience orchestration, acquired Pointillist and Exceed.ai. for an undisclosed amount. With this acquisition, Genesys aims to extend the market leadership of the company and enhance customer and employee experiences across the workplace with journey analytics and conversational AI for marketing and sales. Pointillist is a US-based company that provides customer-centric enterprises to optimize the customer experience. Exceed.ai is a US-based conversational marketing and sales platform.
The countries covered in the customer journey analytics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Read the full report: https://www.reportlinker.com/p06323884/?utm_source=GNW
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