Increase in demand for consistent customer support throughout business interaction, availability of real-time data, and expansion of the retail industry fuel the growth of the global customer journey analytics market.
On the other hand, complexity in overall data synchronization and data privacy impedes growth to a certain extent. Nevertheless, a focus on virtual touchpoints is expected to create lucrative opportunities for the key players in the industry.
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Based on deployment, the on-premise segment contributed to nearly two-thirds of the global customer journey analytics market share in 2018 and is expected to rule the roost by the end of 2026.
This is due to its integration capability with in-house analytics tools. Simultaneously, the cloud segment would cite the fastest CAGR of 24.1% during 2019–2026. The rise in cloud migration among various industries across the globe has boosted the growth of the segment.
Based on application, the campaign management segment held the major share in 2018, generating nearly one-fourth of the global customer journey analytics market, owing to the rise in e-commerce businesses.
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At the same time, the product management segment would showcase the fastest CAGR of 23.3% throughout the forecast period. An increase in investment in innovative products or services has driven the growth of customer journey analytics solutions at a significant rate.
Based on geography, North America accounted for more than one-third of the global customer journey analytics market revenue in 2018 and is projected to dominate during the study period. Data-driven customer experience has garnered high demand in this region. This has led to hyper-competitive economy strategies among which analytics has gained high momentum.
Simultaneously, the region across Asia-Pacific would register the fastest CAGR of 22.0% by 2026. The emergence of new technologies and trends, especially those associated with the advent of the industrial revolution and digitization are rapidly evolving in this province and shaping a robust digital ecosystem that supports digital businesses.
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The global customer journey analytics market report includes an in-depth analysis of the prime market players such as Acxiom LLC., Adobe Systems, Inc., BryterCX, IBM Corporation, Nice Ltd., Pointillist, Quadient, Salesforce.com, Inc., SAP SE, and Verint Systems.
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