DUBLIN--(BUSINESS WIRE)--The "Global Customer Analytics Market By Component, By Type, By Deployment Type, By Data Source, By Industry Vertical, By Region, Industry Analysis and Forecast, 2020 - 2026" report has been added to ResearchAndMarkets.com's offering.
The Global Customer Analytics Market size is expected to reach $29.8 billion by 2026, rising at a market growth of 19.7% CAGR during the forecast period.
Growing developments in analytics due to the growth in real-time data availability and digitization results in data analysts being adopted for customer behaviour. The analysis focuses mainly on business operations to efficiently make marketing decisions. The need for data analysis of the customer behavior contributes to an increase in demand for consumer journey analysis.
The main factor driving market growth in the forecast period is growing demand for personalized customer service. Customers expect to be considered as individuals with unique interests, which has shifted the emphasis to personalized brand experiences. The continuing trend observed is growing acceptance of customer travel analytics.
It enhances the profitability of the customer's acquisition, brand loyalty, and customer lifetime. The emphasis is on creating a unified view of the customer as they connect with a brand and personalize the experience of consumers through networks, locations and always in the moment. Customer analytics will evolve from retrospective analysis to real-time, behaviour-driven interaction to achieve this blended customer experience. Analytics of customer journey is the key to making this transformation.
The major strategies followed by the market participants are Product Launches and Partnerships. Based on the Analysis presented in the Cardinal matrix, IBM Corporation, Google, Inc., Microsoft Corporation, and Oracle Corporation are the forerunners in the Customer Analytics Market. Companies such as Salesforce.Com, Inc., Adobe, Inc., Accenture PLC, and SAP SE, SAS Institute, Inc., and Teradata Corporation, are some of the key innovators in Customer Analytics Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Google, Inc., SAP SE, Teradata Corporation, SAS Institute, Inc., Adobe, Inc., Salesforce.com, Inc., Microsoft Corporation, Oracle Corporation, IBM Corporation, Accenture PLC.
Partnerships, Collaborations and Agreements
Mar-2020: Google Cloud came into partnership with ThoughtSpot, a leader in search and AI-driven analytics. The partnership aims to empower enterprises with cloud analytics. Under this partnership, the companies is expected to launch Embrace for Google Cloud, which allows enterprises to run search and AI-driven analytics directly in Google BigQuery, without moving or caching any data.
Feb-2020: Microsoft announced partnership with Myntra, a lifestyle brand. The partnership is expected to accelerate digital transformation and provides a better experience to its customers. Myntra is applying advanced analytics and machine learning to gain a comprehensive understanding of customers and deliver personalized products, marketing, and service for the customers.
Jan-2020: Microsoft entered into partnership with dunnhumby, the leader in customer data science. Under this partnership, the latter company is expected to move its widely-used customer insights products to Azure, Microsoft's cloud platform, providing retailers and suppliers' instant and secure access to dunnhumby's customer data science tools. The partnership aims to enable more retailers and their suppliers to gain deep shopper and business insights, better understand their customers' needs and preferences and improve collaboration.
Acquisitions and Mergers
Feb-2020: Google Cloud acquired Looker, a data analytics company. The acquisition strengthened the resources of both the companies and brings together some of the best minds in both analytics and cloud infrastructure to build an exciting path forward for the customers and partners.
FEB-2020: Salesforce took over Evergage, a provider of personalization and customer data platform. The real-time, cross-channel personalization and machine learning capabilities of Evergage complement Salesforce Marketing Cloud's robust customer data, audience segmentation, and engagement platform, allowing companies to deliver more relevant experiences during moments of interaction across the entire customer journey.
Scope of the Study
- Brand & Campaign Management
- Customer Behavioral Analysis & Churn Management
- Product Management & Others
By Deployment Type
By Data Source
- Social Media
- Store & Call Center
By Industry Vertical
- IT & Telecom
- Retail & eCommerce
- Government & Defense
- Media & Entertainment
- Google, Inc.
- SAP SE
- Teradata Corporation
- SAS Institute, Inc.
- Adobe, Inc.
- Salesforce.com, Inc.
- Microsoft Corporation
- Oracle Corporation
- IBM Corporation
- Accenture PLC
For more information about this report visit https://www.researchandmarkets.com/r/9xnnrw