New York, USA, April 19, 2021 (GLOBE NEWSWIRE) -- According to a new report studied by Research Dive, the Global customer analytics market is projected to cross $32,521.6 million, increasing from $6,840.0 million by 2018, at a CAGR of 21.9% during 2019-2026 timeframe.
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The report elucidates in-depth analysis on the impact of COVID-19 pandemic on the current and upcoming rise of the industry worldwide, by analyzing prominent factors such as main drivers and key limitations, trends and advances, regional market scenario, and size and scope of the market during the pandemic. The report also mentions that the COVID-19 pandemic has hindered the market growth globally.
Check out How COVID-19 impacts the Global Customer Analytics Market. Click here to Speak with Our Analyst: https://www.researchdive.com/connect-to-analyst/194
Factors Impacting the Market during the Covid-19 Pandemic
The global customer analytics market is expected to rise during the forecast period due to rise in digital transformation in developed and developing countries with the goal to streamline the supply chain and enhance profits. Furthermore, new products equipped with superior algorithms are estimated to boost the market growth across the world. These features are considered to fuel the market growth in the estimated timeframe.
Key Highlights of the Market:
1. The likely CAGR of the customer analytics market, as predicted prior to the occurrence of the COVID-19 pandemic, was 18.6% in the forecast period.
2. The customer analytics industry CAGR worldwide, as estimated after the commencement of the new coronavirus mayhem, is expected to be 21.9% in the forecast time period.
3. The market size of the customer analytics industry in 2020, as expected before the COVID-19 crises began, was $9,707.1 billion.
Current Scenario of the Market during the Covid-19 Pandemic
The Covid-19 outbreak in 2020 resulted in the lockdown across the globe in order to curb the viral infection rate. As a result, the lockdown affected the businesses and industries, especially the retail sector. However, keen observations of the customer behavior during the pandemic helped market players to improvise and devise strategies such as digital payments, brand loyalty, and food safety.
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Future Scope of the Market
Implementation of technology such as artificial intelligence, big data, and data analytics is projected to offer customer analytics solutions in the post pandemic period. Moreover, marketing tactics such as regional or e-mail marketing is anticipated to create opportunities for the market in the upcoming years.
1. Clarity Insights
2. SAP
3. Customer Analytics.
4. Absolutdata.
5. Microsoft
6. Adobe.
7. NGDATA, Inc.
8. Neustar, Inc.
9. Google
10. Manthan Software Services Pvt. Ltd.
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These market players are focusing on several strategies such as product revelations, research & development, and acquisitions of businesses for the market growth. For instance, in October 2020, Hinduja Global Solutions (HGS), an IT service management company, introduced HGS PULSE, a contact center analytics platform that offers customer insights and business performance using real-time data.
The report also summarizes many important aspects including financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments. Click Here to Get Absolute Top Companies Development Strategies Summary Report.
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