Chicago, June 13, 2023 (GLOBE NEWSWIRE) -- The global Customer Intelligence Platform Market size is projected to grow from $1.9 billion in 2022 to $7.0 billion by 2027 at a Compound Annual Growth Rate (CAGR) of 29.7% during the forecast period, according to a new report by MarketsandMarkets™. Several factors, such as the rising need to gain a holistic view of customer data, intensifying need to deliver omnichannel experience, and the heightened adoption of customer intelligence platforms to monitor changes in the market as they occur all contribute to the expansion of the customer intelligence platform market.
Browse in-depth TOC on "Customer Intelligence Platform Market”
339 - Tables
56 - Figures
322 - Pages
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=56360803
Scope of the Report:
| Report Metrics | Details |
| Market size available for years | 2018–2027 |
| Market Size in 2022 | $ 1.9 billion |
| Revenue Forecast for 2027 | $ 7.0 billion |
| CAGR (2022-2027) | 29.7% |
| Key Driving Factors | Need to gain a holistic view of customer data |
| Key Opportunities | Heightened adoption of customer intelligence platforms to monitor changes in the market as they occur |
| Base year considered | 2021 |
| Forecast period | 2022–2027 |
| Forecast units | USD Billion |
| Segments covered | Component, Deployment Mode, Organization Size, Application, Data Channel, Vertical, and Region |
| Geographies covered | North America, Europe, Asia Pacific, Middle East & Africa, and Latin America |
| Companies covered | IBM (US), Oracle (US), Microsoft (US), Adobe (US), SAS Institute (US), Salesforce (US), Google (US), Accenture (Ireland), Informatica (US), SAP (Germany), Verint (US), Teradata (US), Zeta Global (US), TIBCO (US), NICE (Israel), TransUnion (US), Alida (Canada), Algonomy (US), NetBase Quid (US), NGDATA (Belgium), Zeotap (Germany), ActionIQ (US), Amperity (US), UserIQ (US), Datashift (Belgium), Staircase AI (US), Terminus (US), and Lifesight (Singapore). |
A customer intelligence platform collects customer data from a range of relevant data sources and unifies that data to make it analysis-ready. The platform then applies sophisticated analytics, using AI/ML as well as human-driven analytics to glean actionable insights from customer data. The customer intelligence platform market is segmented on component, application, deployment mode, organization size, vertical, data channel, and region.
The customer intelligence platform market has been divided into two components: platforms and services. The services segment is further categorized into consulting, deployment and integration, and support and maintenance services. Based on application, the customer intelligence platform market is segmented into customer data collection & management, customer segmentation & targeting, customer behavior analytics, customer experience management, customer retention & engagement, personalized recommendation, omnichannel marketing, and other applications (data monetization and data enrichment).
Request Sample Pages @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=56360803
By deployment mode, the cloud segment to hold the larger market size during the forecast period
The cloud deployment mode allows users to deploy a customer intelligence platform without the need for IT staff to manage software. Cloud-based customer intelligence platforms offer various advantages, including scalability, adaptability, easy deployment, and cost-effectiveness, which promote the adoption of cloud deployment across organizations. The low cost and ease of implementation have made the cloud a highly desirable delivery mode among organizations. The SaaS deployment model is generating demand for a cloud-based customer intelligence platform, as it provides scalability and flexibility. The major providers of cloud-based customer intelligence platforms are Oracle, Adobe, and SAP.
Large enterprises segment by organization size to hold larger market size during the forecast period
Large enterprises with more than 1,000 employees are considered large enterprises. Large enterprises are early adopters of customer intelligence platforms. They are faced with the troublesome task of effectively managing voluminous customer data being generated across enterprises. This data is complex in nature. The adoption of customer intelligence platform in large enterprises is expected to grow, owing to the huge inflow of customer data from multiple channels and the need to generate actionable insights from customer data. With an exhaustive and complex IT infrastructure, large enterprises require integrated solutions to analyze and use customer data in real time. Thus, they are always in need of a centralized system to automate their frequently executed processes in a streamlined manner
North America is expected to lead the market during the forecast period
The customer intelligence platform market has been segmented into five major regions: North America, Europe, Asia Pacific (APAC), Latin America, and the Middle East and Africa. Widespread awareness of established technological infrastructure and the availability of a skilled workforce in North America are the key factors leading to the largest market share in the customer intelligence platform market. The adoption of customer intelligence platforms is increasing rapidly, owing to their data management benefits. The customer intelligence platform market is expected to witness fast growth in the coming years due to the improved application functionality of the customer intelligence platform and enhanced technologies. The market would witness considerable developments during the forecast period. Europe is expected to hold the second-largest market size during the forecast period due to the awareness of regulations related to customer intelligence platform among businesses.
Opportunities for smaller customer intelligence platform vendors to introduce customer intelligence platform solutions for numerous sectors have also increased. All these factors are responsible for the region's expeditious growth of the customer intelligence platform market.
Make an Enquiry @ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=56360803
Top Trends in Global Customer Intelligence Platform Market
- Personalised customer experiences are becoming increasingly important across industries. Customer intelligence platforms allow businesses to collect and analyse customer data, resulting in insights that can be used to tailor products, services, and marketing campaigns to individual preferences.
- Customer intelligence platforms are incorporating AI and machine learning technologies to automate data analysis and uncover actionable insights. These technologies enable real-time data processing, predictive analytics, and advanced segmentation, which improves customer comprehension and decision-making capabilities.
- Businesses are leveraging customer intelligence platforms to create seamless omnichannel experiences as customers interact through multiple channels such as websites, mobile apps, social media, and physical stores. These platforms facilitate the integration of data from various touchpoints in order to provide a unified view of the customer journey.
- Businesses must understand the customer journey in order to optimise their marketing efforts. By collecting and analysing data at various touchpoints, customer intelligence platforms aid in mapping the end-to-end customer journey. Businesses can use this to identify pain points, increase engagement, and deliver targeted messaging throughout the customer lifecycle.
- Data privacy and security are becoming increasingly important as customer data becomes more valuable. To ensure the confidentiality and integrity of customer information, customer intelligence platforms must adhere to stringent data protection regulations (e.g., GDPR) and implement robust security measures.
Key Industry Development in global Customer Intelligence Platform Market
- Several mergers and acquisitions have occurred in the customer intelligence platform market as companies seek to strengthen their capabilities and expand their market presence. Larger software companies have acquired customer intelligence platform providers in order to improve their offerings or to integrate customer intelligence capabilities into their existing products.
- Companies in the market for customer intelligence platforms are forming strategic alliances and collaborations in order to leverage complementary technologies and expand their reach. Such collaborations help to pool expertise and resources in order to provide more comprehensive solutions and enter new market segments.
- Customer intelligence platform providers are prioritising data protection measures in response to growing concerns about data privacy and security. To ensure the confidentiality and privacy of customer data, they are implementing robust security protocols, complying with relevant regulations such as GDPR, and implementing technologies such as encryption and anonymization.
- Customer intelligence platform providers are developing industry-specific solutions tailored to the specific needs of various sectors. These platforms provide features and functionalities that cater to the distinct requirements of industries such as retail, e-commerce, healthcare, finance, and telecommunications by understanding specific industry dynamics and challenges.
- Integration with other marketing technologies, such as customer relationship management (CRM) systems, marketing automation platforms, and data management platforms (DMPs), is becoming increasingly important. Businesses can leverage the combined power of different tools by improving data sharing, streamlining workflows, and delivering more targeted and personalised marketing campaigns through seamless integration.
Browse Other Reports:
Simulation Software Market - Global Forecast to 2026
Blockchain Gaming Market - Global Forecast to 2027
Multiexperience Development Platforms Market - Global Forecast to 2027
EdTech and Smart Classroom Market - Global Forecast to 2027
AI as a Service Market - Global Forecast to 2028
