Customer Journey Analytics Market Worth $7.02 Billion, Globally, by 2027 at 4.79% CAGR: Verified Market Research

Customer Journey Analytics Market Worth $7.02 Billion, Globally, by 2027 at 4.79% CAGR: Verified Market Research

Growing demand for consistent customer support throughout business interaction as well as reducing churn out rate of customers, and for competitive differentiation is projected to drive the market growth

PR Newswire

JERSEY CITY, New Jersey, June 18, 2020

JERSEY CITY, New Jersey, June 18, 2020 /PRNewswire/ -- Verified Market Research recently published a report, "Customer Journey Analytics Market by Application (Customer Segmentation & Targeting, Customer Behavioral Analysis, Customer Churn Analysis, Brand Management, Campaign Management), by Touchpoint (Web, Social Media, Mobile, Email, Store), by Industry (BFSI, Telecommunications & IT, Healthcare & Life Sciences, Media, Retail, Entertainment, E commerce)". According to the report, Global Customer Journey Analytics Market was valued at USD 4.96 billion in 2019 and is projected to reach USD 7.02 billion by 2027, growing at a CAGR of 4.79% from 2020 to 2027.

Customer Journey Analytics Market Analysis & Forecast, 2020-2027

This report provides detailed analysis of the growth trends among each of the segments as well as accurate forecasts in terms of the value and volume.

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Browse in-depth TOC on "Customer Journey Analytics Market"

202- Pages

134 – Tables

41 – Figures

Factors Influencing Customer Journey Analytics Market

Factors that are driving the growth of the market include growing demand for consistent customer support throughout business interaction. Customer satisfaction is a marketing term that measures how products or services supplied by a company meet or surpass a customer's expectation. Customer satisfaction is important because it provides marketers and business owners with a metric that they can use to manage and improve their businesses. The latest investments and strategies of organizations in almost every sector curtail modern techniques and analysis methods which can assist them to have a better relationship with customers.

A factor that is expected to hinder the growth of the IoT market in elevators is the existence of complex technology and tools. In spite of making sustainable progress in technical aspects, customer journey analytics faces a major restraint in the form of choosing the appropriate technology and gathering a team that can handle the technical aspects of the system. Customer journey analytics is a stream of Big Data analytics where customer behavior and feedback is recorded as data which is utilized to make predictions.

Global Customer Journey Analytics Market Geographical Analysis

The North American Market is expected to participate heavily in the implementation of Customer Journey Analytics in all sectors (industrial, commercial and residential). This position can be attributed to the large base of existing users in the region. North America is therefore considered as the largest player in the market as it is expected to contribute significantly to the overall revenue in the near future. As technical awareness in North America and Europe is more established, the market for Customer Journey Analytics is relatively mature. Due to this, other regions such as the Asia Pacific, South America, and the Middle East are likely to expand at a vigorous CAGR in the coming years.

Customer Journey Analytics Market Competitive Landscape

Some of the major players involved in the Global Customer Journey Analytics Market are IBM, SAP, Adobe Systems, Nice Systems, Verint Systems, Salesforce, and Clickfox. These companies will be profiled on the basis of their financials, their geographic and business segment breakdown, as well as product benchmarking. The competitive landscape section includes key development strategies and market ranking analysis of the above-mentioned players globally.

Verified Market Research has segmented the Customer Journey Analytics Market on the basis of Application, Touchpoint, Industry & Geography.

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