Voice of Customer Analytics Leading Growth Drivers, COVID - 19 Impact Analysis, Emerging Audience

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Status: In Progress  |  Genre: Other  |  House: Booksie Classic

The business impact of SARS-CoV-2 has been felt across diverse sections of the information technology industry, albeit at different levels.

Market Scenario:

 voice of customer analytics is derived from the data acquired from consumer and company interaction. Customer experience analytics is gaining importance in today’s competitive market. The customer experience analytics data is gathered via numerous touch points and helps the organization to understand consumer needs and problems. The consumer and company interactions happen via web, call centres, mails, mobiles etc.

Customer experience analytics market is segmented based on touch points, solution and vertical. The touch points segment is further bifurcated into company website, branch or store, call centre and web. Out of these, the call centre market is expected to dominate the market during the forecast period.

The number of calls centres are increasing day by day which helps in optimizing the business procedures by handling customer queries immediately. This ultimately helps in retaining customers and hence in driving the market share of customer experience analytics market. Retaining customers and managing customer experience are the major factors driving the market share of customer experience analytics market.

 

COVID-19 Analysis:

The business impact of SARS-CoV-2 has been felt across diverse sections of the information technology industry, albeit at different levels. Companies in the technology sector that supply services for verticals like travel, retail, hospitality, and entertainment have noted a dramatic decrease in sales, while the firms that provide services related to remote worker solutions have observed the opposite. Voice of customer analytics’ s fate post pandemic has been relatively less grim compared to Education Services (ES) and Professional Services (PS) that are mostly dependent on components that are generally on-site. Novel coronavirus has Voice of customer analytics to open new avenues for those firms that are on the lookout for solutions that are reliable, efficiently managed, scalable, and are subscription-based, to remain more focused on the core business. The Voice of customer analytics is bearing lesser impact of the COVID-19 outbreak compared to most other segments of the tech world.

The escalated demand level for voice of customer analytics is estimated to play a crucial role in the development of the cloud storage market. Moreover, the increased occurrence of remote working patterns in organizations due to the ongoing COVID- 19 pandemic is estimated to benefit the long-term growth of the cloud storage market.

 

 

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Competitive Outlook:

The prominent players in customer experience analytics market are – Adobe Systems Incorporated (U.S.), Oracle Corporation (U.S.), IBM Corporation (U.S.), Nokia Networks (Finland), Tech Mahindra Limited (India), Avaya Inc. (U.S.), SDL (U.K.), SAS Institute Inc. (U.S.), OpenText Corporation (Canada) and HP Inc. (U.S.) among others.

 

Segmentation:

The global Customer analytics market is segmented on the basis of deployment, solution, service, organization size, and vertical. 

This covers data processing, predictive software, and social media analytics software, customer voice, web analytics platform, dashboard, and reporting by application group. Social media analysis tools allow company to gain competitive advantage by improving business awareness, enhancing product and service processes, providing deep insight into consumer purchasing behaviour and promoting industry innovation.

Based on deployment, the customer analytics market is segmented into cloud and on-premises. The cloud-based customer analytics system offers website traffic search filters, the most common website and the performance monitoring program. Cloud solutions enable organization by providing drag and drop function and offers roll-based workflow. The study indicates that growing demand of digitally stored data and cloud computing is driving the on-premises deployment service.

 

Regional Analysis:

The regional analysis of customer analytics market has been conducted on Asia pacific, Americas, Europe and Rest of the World. 

Thanks to the presence of major players in the area and the adoption of customer analytics solution by small and large businesses, North America has the largest market share in the customer analytics industry. Countries like the US and Canada are contributing significant quantities of revenues in the region 's customer analytics sector.

North America's digitization is largely due to the advent of new technologies, and the societies that benefit from it. Small and medium-sized businesses are growing rapidly implementing customer analytics solution, particularly one for the retail sector. Customer analytics are increasing interest as companies are looking to boost their business growth by switching from on-site to cloud based. The initial low cost, cost savings on infrastructure, automated product updates, and seamless integration drives the cloud-based customer analytics industry.

 

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Table of Contents:

1Executive Summary

2Scope of the Report

2.1Market Definition

2.2Scope of the Study

2.2.1Research objectives

2.2.2Assumptions & Limitations

2.3Markets Structure

3Market Research Methodology

3.1Research Process

3.2Secondary Research

3.3Primary Research

3.4Forecast Model

Continued….

 

 

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Submitted: May 18, 2021

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