Author: Himanshu Patni
13 February 2023
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.
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Based on 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.
By application, the market is divided into customer retention & acquisition, cross-selling & up-selling, customer experience management, campaign management, and others. Among these, the campaign management segment captured a commendable share of the multichannel analytics market in 2020. Multichannel campaign management enables companies to define, orchestrate and communicate offers to customers across websites, mobile, social, direct mail, call centers, and email.
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For a better understanding of the market adoption of the multichannel analytics industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, and the Rest of North America), Europe (Germany, U.K., France, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. 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.
Some of the major players operating in the market are Adobe; Google; IBM; Oracle; SAS Institute Inc.; Salesforce, Inc.; Micro Focus; NICE; SAP SE; and Ebiquity plc.
Global Multichannel Analytics Market Segmentation
Market Insight, by Component
· Solutions
o Query & Reporting
o Visualization
o Multidimensional Analysis
o Data Mining & Predictive Analytics
o Others
· Services
Market Insights, by Application
· Customer Retention & Acquisition
· Cross-Selling & Up-Selling
· Customer Experience Management
· Campaign Management
· Others
Market Insights, by Industry
· Information & Communication Technology
· Banking & Financial Services
· Manufacturing
· Retail & E-commerce
· Others
Market Insight, by Region
· North America
o U.S.
o Canada
o Rest of North America
· Europe
o Germany
o U.K.
o France
o Italy
o Spain
o Rest of Europe
· Asia-Pacific
o China
o Japan
o India
o Rest of Asia-Pacific
· Rest of the World
Top Company Profiles
· Adobe
· IBM
· Oracle
· SAS Institute Inc.
· Salesforce, Inc.
· Micro Focus
· NICE
· SAP SE
· Ebiquity plc.
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