Customer Experience Analytics Market Scope:
Market Research Future (MRFR) in its latest 'Customer Experience Analytics Market report reveals that the worldwide market of customer experience analytics is likely to expand at a 16.4% CAGR and increase to a size of about USD 36.21 Billion by 2023. The forecast period for which MRFR has conducted the study is 2017 to 2023.
The increase in need to understand customer behaviour and keep the customer base of a company growing, different verticals adopting customer experience analytics. The growing demand for customer experience analytics is expected to underpin the expansion of the market in the years to come. The growing importance of customer experience analytics is expected to boost the growth of the market. The efficacy in which customer experience analytics aids in understanding of customers need, behaviour, and problem via numerous touch points can surge the expansion of the global market of consumer experience analytics market. The widespread use of call centers, web, mails, mobiles, and other communication aids are expected to induce growth for the worldwide Customer Experience Analytics Market .
The surge in number of call centers that aids in optimizing every business procedures, such as handling and resolving customer queries immediately can boost the market growth. The adoption of customer experience analytics is helping in retaining customers. Hence, this is anticipated to propel the growth of the global customer experience analytics market. MRFR noted that retention of customers and management of customer experience are likely to be additional factors that can gain considerable momentum for the market of customer experience analytics in the review period.
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Customer Experience Analytics Market Key Players:
MRFR enlisted some renowned players that are functioning in the global market of customer experience analytics. They are Oracle Corporation (U.S.), Adobe Systems Incorporated (U.S.), OpenText Corporation (Canada), Nokia Networks (Finland), IBM Corporation (U.S.), Avaya Inc. (U.S.), Tech Mahindra Limited (India), SAS Institute Inc. (U.S.), SDL (U.K.), HP Inc. (U.S.), and others.
Customer Experience Analytics Market Segmental Analysis:
The global market of customer experience analytics is analyzed in segments by type, touch point, solution, and verticals.
By type, the customer experience analytics market is segmented into Web Analytics, Enterprise Feedback Management, Text Analytics & Speech Analytics, and others.
By touch point, the market has been classified into branch, call center, company website, and web.
By solution, the market is classified into social media analytical tools, data management, web analytical tools, voice of customer, and dashboard and reporting.
By vertical, the market is divided into Healthcare, IT Communication Service Provider, BFSI, and Travel & Hospitality.
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Customer Experience Analytics Market Detailed Regional Analysis:
Regionally, the market of customer experience analytics is analysed across four important regions. They are. Europe, Asia Pacific, North America, and Rest of the World. On conducting a comprehensive study on the market. MRFR's regional insights reveals that the customer experience analytics market in the North America region is expected to hold the largest share of the global market.
Technological evolution and rapid absorption of latest technologies by different verticals across the region are expected to propel the market in North America. The residence of tech giants, such as Adobe, Oracle, and IBM in North America can surge the regional market. The US, a region that is well known for adopting modern technologies are expected to generate high revenue for the North America market. The customer experience analytics market in Asia Pacific region is expected to show quick growth in the forecast years. An important factor that is expected to push the APAC market growth is the increase in demand for customer experience analytics across various verticals in the region.
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