Market Scenario:
The rise in concern of the business groups and various other service and product provider sectors to know their customer experience and feedback has led to the growth of the Customer Experience Analytics Market. The market helps to understand the customer’s needs and demand. The technical development of the market concerns the goals and objectives of the business to understand and attain the need of the consumers and let them for a better experience of the service as the business sectors started increasing tremendously, the increase in the need for business development techniques even grown high in demand. These factors led to the growth of the Customer Experience Analytics Market. Various driving factors are propelling the market growth rate. The rise in demand for improving big data analytics is one of the chief driving factors of the market, and the increase in the level of investment by various business groups and professionals to improve their market value is boosting the market. The advancement in technicalities in marketing is helping marketers to focus and make major business decisions.
The outbreak of the virus and the effect of lockdown has shown a moderate effect on the Customer Experience Analytics Market. The vertical segments of the market faced tough challenges during this period. The segments like manufacturing, transportation, retail, and logistics have suffered more because these services were halted due to the strict lockdown guidelines, and the mild impact was seen in segments like healthcare and PSUs. But the key market players are trying to restore the growth of the affected segment. The marketing strategy of the players is to focus on the opportunities to enhance the growth of the global market.
The Customer Experience Analytics Market is projected to register a CAGR of 17.7 % and an estimated value of USD 6.5 Billion during the forecast period.
The rise in concern of the business groups and various other service and product provider sectors to know their customer experience and feedback has led to the growth of the Customer Experience Analytics Market. The market helps to understand the customer’s needs and demand. The technical development of the market concerns the goals and objectives of the business to understand and attain the need of the consumers and let them for a better experience of the service as the business sectors started increasing tremendously, the increase in the need for business development techniques even grown high in demand. These factors led to the growth of the Customer Experience Analytics Market. Various driving factors are propelling the market growth rate. The rise in demand for improving big data analytics is one of the chief driving factors of the market, and the increase in the level of investment by various business groups and professionals to improve their market value is boosting the market. The advancement in technicalities in marketing is helping marketers to focus and make major business decisions.
The outbreak of the virus and the effect of lockdown has shown a moderate effect on the Customer Experience Analytics Market. The vertical segments of the market faced tough challenges during this period. The segments like manufacturing, transportation, retail, and logistics have suffered more because these services were halted due to the strict lockdown guidelines, and the mild impact was seen in segments like healthcare and PSUs. But the key market players are trying to restore the growth of the affected segment. The marketing strategy of the players is to focus on the opportunities to enhance the growth of the global market.
The Customer Experience Analytics Market is projected to register a CAGR of 17.7 % and an estimated value of USD 6.5 Billion during the forecast period.
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Competitive Outlook:
The prominent players in customer experience analytics market are – Adobe Systems Incorporated (U.S.), Oracle Corporation (U.S.), IBM Corporation (U.S.), Nokia Networks (Finland), Tech Mahindra Limited (India), Avaya Inc. (U.S.), SDL (U.K.), SAS Institute Inc. (U.S.), OpenText Corporation (Canada) and HP Inc. (U.S.) among others.
Competitive Outlook:
The prominent players in customer experience analytics market are – Adobe Systems Incorporated (U.S.), Oracle Corporation (U.S.), IBM Corporation (U.S.), Nokia Networks (Finland), Tech Mahindra Limited (India), Avaya Inc. (U.S.), SDL (U.K.), SAS Institute Inc. (U.S.), OpenText Corporation (Canada) and HP Inc. (U.S.) among others.
Segmentation:
The Customer Experience Analytics Market is segmented based on touchpoint, solutions, and vertical. The touchpoint segment of the market is bifurcated into the company website, branch, call center, and in terms of the web. Based on the solution segment, the market is fragmented into data management, social media analytical tools, the voice of the customer, web analytical tools, and dashboard and reporting. The vertical segment includes BFSI, healthcare, manufacturing, IT communication service provider, travel, and hospitality. All these segments boost the market value at the global level.
Regional Analysis:
The geographical distribution of the Customer Experience Analytics Market states the growth of the market in major regions such as North America, Europe, Asia Pacific, and the rest of the world. North America is the dominating region of the market with the largest share among other regions. The presence of key players in the major regions of North America, such as the US and Canada, is boosting the regional market; meanwhile, the Asia Pacific is considered the fastest-growing segment due to the increased usage of electronic gadgets, smartphones, and other devices. China, India, Japan, and the Republic of Korea are the leading regions of the Asia Pacific Market. The European Market shows a decent growth rate during the evaluation period.
The geographical distribution of the Customer Experience Analytics Market states the growth of the market in major regions such as North America, Europe, Asia Pacific, and the rest of the world. North America is the dominating region of the market with the largest share among other regions. The presence of key players in the major regions of North America, such as the US and Canada, is boosting the regional market; meanwhile, the Asia Pacific is considered the fastest-growing segment due to the increased usage of electronic gadgets, smartphones, and other devices. China, India, Japan, and the Republic of Korea are the leading regions of the Asia Pacific Market. The European Market shows a decent growth rate during the evaluation period.
Industry News
Sprinklr, a customer experience management company, has raised $400 million in the capital in eight rounds of funding that went public in summer 2021. It is reported that it sold over 16 million shares in its IPO.
Sprinklr, a customer experience management company, has raised $400 million in the capital in eight rounds of funding that went public in summer 2021. It is reported that it sold over 16 million shares in its IPO.
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Table of Contents:
1 Executive Summary
2 Scope of the Report
2.1 Market Definition
2.2 Scope of the Study
2.2.1 Research objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
Continued….
Table of Contents:
1 Executive Summary
2 Scope of the Report
2.1 Market Definition
2.2 Scope of the Study
2.2.1 Research objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
Continued….
LIST OF TABLES
TABLE 1 CUSTOMER EXPERIENCE ANALYTICS MARKET, BY TOUCH POINT
TABLE 2 CUSTOMER EXPERIENCE ANALYTICS MARKET, BY SOLUTION
TABLE 3 CUSTOMER EXPERIENCE ANALYTICS MARKET, BY VERTICAL
TABLE 1 CUSTOMER EXPERIENCE ANALYTICS MARKET, BY TOUCH POINT
TABLE 2 CUSTOMER EXPERIENCE ANALYTICS MARKET, BY SOLUTION
TABLE 3 CUSTOMER EXPERIENCE ANALYTICS MARKET, BY VERTICAL
Continued….
LIST OF FIGURES
FIGURE 1 RESEARCH TYPE
FIGURE 2 CUSTOMER EXPERIENCE ANALYTICS MARKET, BY TOUCH POINT (%)
FIGURE 3 CUSTOMER EXPERIENCE ANALYTICS MARKET, BY SOLUTION (%)
FIGURE 1 RESEARCH TYPE
FIGURE 2 CUSTOMER EXPERIENCE ANALYTICS MARKET, BY TOUCH POINT (%)
FIGURE 3 CUSTOMER EXPERIENCE ANALYTICS MARKET, BY SOLUTION (%)
Continued….
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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
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