The North America Service Analytics Market would witness market growth of 14.1% CAGR during the forecast period (2024-2031).
The US market dominated the North America Service Analytics Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $515.5 million by 2031. The Canada market is exhibiting a CAGR of 16.4% during (2024 - 2031). Additionally, The Mexico market would experience a CAGR of 15.6% during (2024 - 2031).
Service analytics is a tool that enhances the customer experience, optimizes service performance and improves decision-making by collecting, analyzing, and interpreting data derived from service-related activities within an organization. This process involves the utilization of data analytics tools to evaluate as well as monitor the efficiency of services provided to customers, identify bottlenecks, anticipate future service demands, and implement strategies for continuous improvement. Service analytics can be applied across various functions, such as customer service, field service, and technical support, and typically focuses on key performance indicators (KPIs) related to service quality, response times, issue resolution rates, customer satisfaction, and service costs.
The service analytics market has undergone a rapid transformation as organizations increasingly acknowledge the potential of data-driven insights to improve their service operations, optimize consumer experiences, and drive business performance. The term "service analytics" denotes the application of advanced data analytics, artificial intelligence (AI), and machine learning (ML) to analyze and enhance service-related processes, such as customer service, field service, and IT service management.
In Canada, telecom companies are increasingly relying on digital communication platforms and investing in 5G infrastructure. As a result, they are utilizing service analytics to optimize customer support, manage service delivery, and monitor network performance. The GDP of Canada is significantly influenced by the ICT sector. The sector's GDP was $104.5 billion in 2021 (in 2012, constant dollars), representing 5.3% of the national GDP and continuing to contribute a larger proportion of the national GDP. The ICT sector is also accountable for 15.3% of the national GDP growth between 2016 and 2021. The Canadian Radio-television and Telecommunications Commission (CRTC) is actively working on initiatives to enhance digital services and infrastructure, further supporting service analytics adoption in this sector. This makes service analytics an indispensable tool in Canada’s growing telecom landscape. Therefore, the region will present lucrative growth opportunities for the market throughout the forecast period.
Free Valuable Insights: The Service Analytics Market is Predict to reach USD 2.0 Billion by 2031, at a CAGR of 14.7%
Based on Enterprise Size, the market is segmented into Large Enterprises, and SMEs. Based on Component, the market is segmented into Solution, and Services. Based on Deployment, the market is segmented into Cloud, and On-premise. Based on Application, the market is segmented into Customer Service Analytics, IT Service Analytics, and Field Service Analytics. Based on End Use, the market is segmented into BFSI, IT & Telecom, Retail, Healthcare, Manufacturing, Government, and Other End Uses. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
By Enterprise Size
By Component
By Deployment
By Application
By End Use
By Country
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