Customer Journey Analytics Market is Expected to Expand at a Stellar 20.2% CAGR through 2031 | SkyQuest Technology
Westford,USA, Oct. 04, 2024 (GLOBE NEWSWIRE) -- SkyQuest projects that the Customer Journey Analytics market will attain a value of USD 64.21 billion by 2031, with a CAGR of 20.2% over the forecast period (2024-2031). Evolving consumer preferences around the world have bolstered the demand for enhanced customer experience to boost sales and ensure customer retention. Organizations around the world are turning towards customer journey analytics to improve customer experience and retention and boost their revenue generation capabilities.
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Browse in-depth TOC on "Customer Journey Analytics Market"
- Pages - 197
- Tables - 116
- Figures – 77
Customer Journey Analytics Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | $ 14.74 billion |
| Estimated Value by 2031 | $ 64.21 billion |
| Growth Rate | Poised to grow at a CAGR of 20.2% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Deployment model, Application, Data source, Organization size, Vertical |
| Geographies Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America |
| Report Highlights | Updated financial information / product portfolio of players |
| Key Market Opportunities | Growing demand for personalized customer experiences |
| Key Market Drivers | Adoption of data-driven decision-making by businesses around the world |
Demand for Customer Journey Analytics Solutions Spearheads Market Growth Owing to Their Ability to Provide Meaningful Insights
Customer journey analytics solutions help businesses analyze and generate meaningful insights from raw customer data that facilitate informed decision-making for businesses. Growing emphasis on data-driven decision-making is also expected to promote the adoption of customer journey analytics solutions and help this segment maintain a dominant share.
Cloud Deployment of Customer journey analytics is Slated to Rise at a Robust Pace Owing to its Flexibility and Scalability
Cloud technologies are being used extensively around the world for their cost-effectiveness, flexibility, and scalability. All of these factors are why most customer journey analytics companies are deploying their solutions on cloud platforms to maximize adoption.This deployment also eliminates the expenses of infrastructure hardware and software for organizations making it more profitable in the long run.
Presence of Strong Retail Infrastructure Allows North America to Dominate Customer journey analytics Demand
North American region is home to one of the most robust retail infrastructures in the world, which is why customer journey analytics demand is high in this region. The United States is projected to be the leading market in this region owing to early adoption of advanced technologies such as artificial intelligence and predictive analytics in retail and e-commerce space to enhance customer experience. High emphasis on customer satisfaction and better customer engagement will also promote customer journey analytics demand in this region.
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Customer Journey Analytics Market Insights:
Drivers
- Evolving consumer preferences
- Adoption of data-driven decision-making
- Growth in e-commerce and online shopping activity
Restraints
- Data security and privacy concerns
- Dearth of skilled professionals to manage customer journey analytics tools and services
Prominent Players in Customer Journey Analytics Market
The following are the Top Customer Journey Analytics Companies
- 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)
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Key Questions Answered in Customer Journey Analytics Market Report
- What drives the global Customer Journey Analytics market growth?
- Who are the leading Customer Journey Analytics providers in the world?
- Which region leads the demand for Customer Journey Analytics in the world?
This report provides the following insights:
- Analysis of key drivers (changing consumer preferences, demand for data-driven decision-making), restraints (unavailability of skilled workforce to manage customer journey analytics solutions and services, data privacy issues), and opportunities (rising demand for personalized customer experiences), influencing the growth of Customer Journey Analytics market.
- Market Penetration: All-inclusive analysis of product portfolio of different market players and status of new product launches.
- Product Development/Innovation: Elaborate assessment of R&D activities, new product development, and upcoming trends of the Customer Journey Analytics market.
- Market Development: Detailed analysis of potential regions where the market has potential to grow.
- Market Diversification: Comprehensive assessment of new product launches, recent developments, and emerging regional markets.
- Competitive Landscape: Detailed analysis of growth strategies, revenue analysis, and product innovation by new and established market players.
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About Us:
SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.
We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization has expanded our reach across North America, Europe, ASEAN and Asia Pacific.
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Skyquest Technology
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USA (+1) 351-333-4748
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