Apprehension: What are the major solutions considered in the Customer Analytics Market

Pune, Maharashtra,India, November 9 2020 (Wiredrelease) Origius Systems Private Limited –:The emergence of coronavirus pandemic has negatively impacted the customer analytics market growth. The sustainability of this market is majorly attributed to the better understanding of the customer for greater profitability. Though the markets across the world, are shut down in order to minimize the effect of the pandemic, the customer analytics market is hampered for a short span of time. This is mainly because online retail is the fast-growing sector in the global market. Moreover, during the COVID-19 pandemic crisis, government bodies are showing support to the online shopping platform. In addition, customers are also highly preferring the online shopping option. For instance, as per the CDC (Centers for Disease Control and Prevention), there is a low threat of spread from packaging that is shipped over a period of days at ambient temperature. Furthermore, the WHO (World Health Organization) addressed that there is no threat to receive packages from e-commerce vendors. These factors may be expected to drive the growth of the global customer analytics market, in the pandemic crisis. Furthermore, the integration of tools like AI and big data can fuel the growth of customer analytics solutions after the pandemic. Due to the current situation of the COVID-19 crisis, businesses around the world are highly concerned with customer optimism, customer loyalty, trust and confidence. Thus, numerous companies can go for the adoption of customer analytics tools for finding ways to help customers through this crisis; and this will be beneficial for the long-term health of the company.

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As per a new report published by Research Dive, the global customer analytics market is set to generate a revenue of $32,521.6 million by 2026, at a CAGR of 21.9% during the period of forecast.

The segmentation of the market has been done based on application, components, organization size, deployment mode, end-use industry. The report provides in-depth insights on drivers, vital segments, opportunities, restraints, and key players of the market. As per our analyst estimates, the significant role of big data in customer analytics fueling the customer analytics market growth. However, the laws regarding data privacy and security are anticipated to obstruct the global customer analytics market growth. 

Check How COVID-19 impact on the Customer Analytics Market @ https://www.researchdive.com/connect-to-analyst/194

Cloud Platform will have a Substantial Growth During the Forecast Period

Based on the component, the global market for customer analytics is classified into services, solutions, and others. The services market valued at $15,935.6 million in revenue in 2026 and is anticipated to grow at 23.5% CAGR. The growth of the services segment is primarily because it offers customer segmentation strategies and customer attrition.

Based on the deployment model, the global market for the customer analytics market is categorized into Cloud and On-Premise. The market size for the cloud segment valued at $15,322.0 million in 2026 and is all set to increase at a healthy CAGR of 23.2% during the forecast period. Due to the higher adoption of cloud platform, businesses witnessed rapid transformation in operational activities and cost efficiencies.

SME Segment to be Most Lucrative

Based on the organization size, the global market is segmented into SME and Large Enterprise. The market size for SME will be $14,813.6 million in 2026 and is estimated to grow at 23.8% CAGR. The growth of this segment is primarily attributed to its availability at a lower cost. Moreover, SMEs can analyze social media traffic and also helps in social media marketing campaigns.

Based on the application, the global market for the customer analytics market is broadly categorized into brand management, churn management, campaign management, product management, customer behavioral analysis, and others. The product management segment registered a revenue of $8,819.8 million in 2026 and is expected to rise at health CAGR 23.1% during the forecast period. This is mainly because it is primarily utilized to acquire new customers at a lower cost along with it also helps to retain customers for maximizing product sales.

The manufacturing sector will have a significant growth in the Global Market 

Based on end-use industry, the global market for the customer analytics market is broadly categorized into Energy & Utilities, Telecom & IT, BFSI, Transportation & Logistics, Manufacturing, Healthcare & Life Science, Government & Defence, Retail & Ecommerce, Travel & Hospitality, Media & Entertainment, Others. The market size for the manufacturing sector was $410.4 million in 2018 and is predicted to rise at 23.1% CAGR by 2026. The significant adoption of food & beverage industries across the world is expected to contribute to the segment growth.

Geographical Analysis and Major Market Players

Based on the region, the global for the customer analytics market is segmented into North America, Europe, Asia Pacific, and LAMEA. The Asia-Pacific customer analytics market valued at $8,097.9 million in 2026 and is anticipated to rise at 22.4% CAGR during the projected period. The technological evolutions, increasing investments in R&D and innovations, rising disposable income, and developing economy are the driving factors expected to offer an enormous opportunity for the growth of the Asia Pacific customer analytics market. 

•    SAP (ETR: SAP), 
•    Absolutdata., 
•    Adobe (NASDAQ: ADBE), 
•    Microsoft Corporation (NASDAQ: MSF), 
•    NGDATA, Inc., 
•    Google (NASDAQ: GOOGL), 
•    Neustar, Inc., 
•    Clarity Insights, 
•    Manthan Software Services Pvt. Ltd.

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