Customer Analytics in E-commerce Market: Current Analysis and Forecast (2022-2028)

Report Description

The Customer Analytics in the E-commerce market is expected to grow at a strong CAGR of around 15% during the forecast period. Customer analytics is the gathering and interpretation of data about a company’s customers. This data includes information on what customers are engaging with, how they are engaging, and for how long. By analyzing this data, a company can gain insights into what is resonating with its different customer segments. The online interaction of businesses today generates huge data volumes every second. Customers are enjoying numerous benefits because of numerous e-commerce businesses making life simpler and more convenient for the users in the market. All the products provided by the retailer, such as food, appliances, furniture, and apparel, are delivered right to the buyer’s door, ensuring convenience with every purchase. Moreover, a better experience is increasingly attracting customers to spend additional funds, enabling e-commerce entities to generate significant revenue growth by providing individualized experiences in the market. The key to e-commerce business success is to learn customer preferences. The e-commerce customer analytics solution assists businesses in growing and better understanding their customers.

Insights Presented in the Report

“Amongst component, the solutions segment held a significant share of the market in 2021”

By component, the market is bifurcated into solutions and services. The solutions segment led the market in 2021. In terms of solutions, customer analytics in e-commerce can be applied to various aspects of the business, such as personalized marketing, targeted promotions, customer segmentation, and retention strategies. By leveraging customer analytics, businesses can make data-driven decisions to optimize their online shopping experiences and improve the overall customer journey.

“Amongst application, the machine learning segment held a significant share of the market in 2021”

On the basis of application, the market is segmented into Machine Learning, Customer Retention, User Engagement, In-App Purchases, and Others.  The machine learning segment led the market in 2021. Machine learning algorithms can analyze large amounts of data to identify patterns and trends, which can then be used to personalize marketing campaigns and improve customer experience. For example, machine learning algorithms can be used to predict which products a customer is most likely to purchase based on their past purchases and browsing history. Additionally, machine learning can be used to optimize pricing strategies, improve search engine optimization, and identify potential fraud. Overall, machine learning can greatly enhance the effectiveness of customer analytics in e-commerce by providing more accurate and actionable insights.

“North America held a significant share of the market in 2021”

Market in North America is expected to hold the largest share of the global customer analytics in e-commerce market. Advancements in DevOps and Big Data analytics is projected to fuel the demand for customer analytics in e-commerce. Additionally, these regional markets showcase extensive sales footprint of key players, like IBM, Oracle and Dell, and key procurers like, Amazon.com, thus propelling the adoption of customer analytics in e-commerce industry. Market in Southeast Asia Pacific region is estimated to record the fastest growth in the global customer analytics in e-commerce market.

Customer Analytics in E-commerce Market Report Coverage

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry

Customization Options:

The global customer analytics in E-commerce market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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Research Methodology

Research Methodology for the Customer Analytics in E-commerce Market Analysis (2022-2028)

Analyzing the historical market, estimating the current market, and forecasting the future market of the global customer analytics in E-commerce market were the three major steps undertaken to create and analyze the adoption of Customer Analytics in E-commerce in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of global customer analytics in E-commerce market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the customer analytics in E-commerce market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the customer analytics in E-commerce market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as component and application. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the customer analytics in E-commerce market. Further, we conducted factor analysis using dependent and independent variables such as component and application of the customer analytics in E-commerce market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the customer analytics in E-commerce market sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global customer analytics in E-commerce market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of the customer analytics in E-commerce market across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the global customer analytics in E-commerce market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global customer analytics in E-commerce market. data was split into several segments & sub-segments post studying various parameters and trends in the areas of the component and application in the global customer analytics in E-commerce market.

The main objective of the Global Customer Analytics in E-commerce Market Study

The current & future market trends of the global customer analytics in E-commerce market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the customer analytics in E-commerce market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of the component and application
• Define and analysis of the regulatory framework for the Customer Analytics in E-commerce industry
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
• Analyze the current and forecast market size of the customer analytics in E-commerce market for the major region
• Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World
• Company profiles of the customer analytics in E-commerce market and the growth strategies adopted by the market players to sustain in the fast-growing market
• Deep dive regional level analysis of the industry

You can also purchase parts of this report. Do you want to check out a section wise
price list?

Get in touch with team