According to a new report Global Customer Analytics Market, published by KBV research, 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. The major factors driving customer analytics market growth include the need to understand consumer purchasing behavior to streamline marketing operations for a more personalized customer experience and the emergence of technologies such as Artificial Intelligence (AI), Machine Learning (ML), and business process automation.
The low cost and ease of implementation made cloud a highly desirable mode of delivery between the organizations. Because of its cost factor, small and medium-sized enterprises (SMEs) tend to embrace cloud-based solutions as compared to on-site solutions, and software vendors offer 24x7 support and maintenance. In this market, a large number of vendors offer cloud-based customer analytics solutions to attract customers.
The Brand & Campaign Management market dominated the Global Customer Analytics Market by Type 2019. Brand management is a marketing method which, over time, uses techniques to increase the perceived value of a product line or brand. Effective brand management causes product prices to grow and create loyal consumers through positive brand interactions and images, or strong brand awareness. Additionally, The Product Management & Others market is expected to witness CAGR of 21.1% during (2020 - 2026).
North America is projected to have the largest market share, as customer analytics service providers have a strong foothold in the region. There is a shift in the understanding of data usage, collection and analysis by companies as there is an increase in demand for big data initiatives to enhance customer experience in this field. The Europe market is experiencing a CAGR of 18.7% during (2020 - 2026). Additionally, The Asia Pacific market is anticipated to grow at a CAGR of 21.7% during (2020 - 2026).
Structural Insights: https://www.kbvresearch.com/customer-analytics-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Google, Inc., SAP SE, Teradata Corporation, SAS Institute, Inc., Adobe, Inc., Salesforce.com, Inc., Microsoft Corporation, Oracle Corporation, IBM Corporation, Accenture PLC.
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