Multichannel Analytics Market - Industry Size, Share, Growth
Multichannel analytics is the practice of taking information from various customer channels such as radio, television, internet, and print and combining this information in a software environment to enable comprehensive reporting and analysis. With multi-channel analytics, businesses can see why people buy or convert. For example, it often shows the percentage of conversions that are based on or supported by social media messages.
The Multichannel Analytics Market is expected to grow at a strong CAGR of around 22% during the forecast period owing to the increasing adoption of analytical solutions among industries. Moreover, the growing adoption of multichannel marketing for customer engagement and the rising trend of online shopping due to a large coverage of the internet is further contributing to the growth of the market. In addition, the rising adoption of social media is also helping the market to grow at a strong growth rate. For instance, according to Nasdaq, Inc.; approximately 4.6 billion people worldwide were connected to social media in 2022, up from 3.9 billion in 2020.
๐๐จ ๐๐๐ญ ๐๐ง๐ฌ๐ข๐ ๐ก๐ญ๐๐ฎ๐ฅ ๐๐๐ฌ๐๐๐ซ๐๐ก, ๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐๐๐ ๐๐จ๐ฉ๐ฒ - https://univdatos.com/get-a-free-sample-form-php/?product_id=34770
Based on the component, the market is bifurcated into solutions and services. Amongst these, the solutions segment catered to a significant share of the market in 2020. This is due to the benefits associated with multi-channel analytics solutions such as larger reach, boosted engagement, brand promotion, and streamlined customer journeys are further contributing to the growth of the market for multichannel analytics solutions.
On the basis of the industry, the market is segmented into information & communication technology, banking & financial services, manufacturing, retail & e-commerce, and others. The retail & e-commerce industry held a major share of the multichannel analytics market in 2020 and is expected to grow at a substantial CAGR during the forecasted period due to the rising online shopping trends owing to widespread internet connectivity. Moreover, increasing integration of machine learning, artificial intelligence, and data analytics with e-commerce is further contributing to the growth of this segment.
Asia-pacific to lead the growth
APAC is expected to grow at a substantial CAGR during the forecast period owing to the increasing adoption of multichannel analytics solutions amongst the businesses in the region to manage marketing campaigns and the need to manage customers across various channels. Multichannel analytics offers an easier way for businesses to grow their customer base, attract more customers around the world, and generate more revenue. Moreover, multichannel analytics is not limited to online marketplaces, but also includes social media platforms with integrated purchases, corporate websites selling their products, and even physical stores.
๐๐จ ๐๐๐ญ ๐๐ง๐ฌ๐ข๐ ๐ก๐ญ๐๐ฎ๐ฅ ๐๐๐ฌ๐๐๐ซ๐๐ก, ๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐๐๐ ๐๐จ๐ฉ๐ฒ โ https://univdatos.com/get-a-free-sample-form-php/?product_id=34770
According to UnivDatos Market Insights (UMI)โ, the key players with a considerable market share Adobe; Google; IBM; Oracle; SAS Institute Inc.; Salesforce, Inc.; Micro Focus; NICE; SAP SE; and Ebiquity plc.
โGlobal Multichannel Analytics Marketโ provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitorsโ capabilities on different parameters. This will help companies in the formulation of go-to-market strategies and identifying the blue ocean for its offerings.
Market Segmentation:
1. By Component (Solutions [Query & Reporting, Visualization, Multidimensional Analysis, Data Mining & Predictive Analytics, and Others] and Services)
2. By Application (Customer Retention & Acquisition, Cross-Selling & Up-Selling, Customer Experience Management, Campaign Management, and Others)
3. By Industry (Information & Communication Technology, Banking & Financial Services, Manufacturing, Retail & E-commerce, and Others)
4. By Region (North America, Europe, Asia-Pacific, Rest of the World)
5. By Company (Adobe; Google; IBM; Oracle; SAS Institute Inc.; Salesforce, Inc.; Micro Focus; NICE; SAP SE; and Ebiquity plc.)
Key questions answered in the study:
1. What are the current and future trends of the global multichannel analytics industry?
2. How the industry has been evolving in terms of component, applications, and industry?
3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the global multichannel analytics industry?
5. What are the customer orientation, purchase behavior, and expectations from global multichannel analytics suppliers across various regions and countries?