New York, USA, Aug. 09, 2022 (GLOBE NEWSWIRE) -- According to the report published by Research Dive, the global customer analytics market is anticipated to generate a revenue of $32,521.6 million and rise at a healthy CAGR of 21.9% during the forecast period from 2019 to 2026. The comprehensive report provides a brief overview of the current scenario of the market, including other aspects such as dynamics of the market, growth and restraining factors, challenges, and opportunities during the forecast period. The report also offers the market figures, which makes it easier and more beneficial for the new participants to understand the real-time scenario of the market.
Factors Impacting the CAGR Figures Pre and Post the COVID-19 Pandemic
According to the report, the market is predicted to grow at a CAGR of 21.9% over the forecast period, while it was anticipated to grow at a CAGR of 18.6% in the pre-pandemic scenario from 2019-2026. The growing emphasis on digital transformations both in developing and developed economies to streamline supply chain distribution and maximize profits is expected to foster the growth of the market during the analysis period. Moreover, the rising implementation of new products with superior algorithms is expected to promote the adoption of customer analytics solutions among retailers for customer retention and to provide a superior customer experience.
Factors Impacting the Customer Analytics Market Size Pre and Post the COVID-19 Pandemic
According to the report, the real-time market size reached a revenue of $10,121.5 million in 2020, while its estimations were $9,707.1 million in the pre-pandemic scenario. The sudden change in consumer behavior during a pandemic such as the huge adoption of e-commerce and digital payment systems, growing concern for food safety, and many more, are some major factors that have increased the adoption of customer analytics solutions. In addition, the integration of advanced computing technologies such as big data, artificial intelligence, and data analytics is predicted to strengthen the quality of consumer analytics solutions during the analysis period.
Post-Pandemic Insight of Customer Analytics Market
The implementation of different marketing strategies such as email marketing or regional marketing by leading market players are predicted to uplift the growth of the market over the estimated period. Furthermore, new concepts such as crisis management and response and optimization of retail supplies are predicted to create expansive growth opportunities for the customer analytics market post-Covid-19 pandemic.
Key Players of the Customer Analytics Market
The major players of the customer analytics market include
- Manthan Software Services Pvt. Ltd.
- Customer Analytics.
- Clarity Insights
- Neustar, Inc.
- NGDATA, Inc.
- Microsoft, and many more.
These market players are concentrating on developing strategies such as new product launches, research, and development, following trending market ideas, building product portfolios, mergers & acquisitions, collaborations, and business expansions. – Inquire here to get access to the key companies' development strategic report
For instance, in July 2021, Microsoft, an American multinational technology corporation that produces computer software, consumer electronics, personal computers, and many more, announced its acquisition of Suplari, a renowned provider of supplier spend insights that enable companies to proactively manage supplier spend by transforming data from multiple sources. With this acquisition, the companies aimed to help organizations become insight-driven, and enable business leaders to take strategic action.
Further, the report also summarizes many important aspects including the financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments.
More about COVID-19 Impact on Customer Analytics Market:
- Customer Analytics for Better Business Efficiency and Profit
- Growing Emphasis On Understanding Consumer Behavior To Maximize Profits Is Expected To Offer The Growth For Global Customer Analytics Market During The Covid-19 Pandemic
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