Multichannel Analytics Market: Current Analysis and Forecast (2022-2028)

Report Description

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The Multichannel Analytics Market is expected to grow at a strong CAGR of around 22% during the forecast period owing to the growing use of social media and the increasing adoption of analytical solutions among industries. Multichannel analytics is a business process that brings data from various sources or channels together in one place. For example, if a person has three online stores, a multichannel analytics tool can be used to aggregate data from each store in one place. These tools record data for each website and systematically filter it for analysis. Multichannel analytics helps improve efficiency across the enterprise. Data helps enterprises understand their customer and how a user behaves on their website. This kind of detailed overview helps companies reduce their spending on customer retention and advertising campaigns by using the data they have to make effective plans. 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. For instance, according to the United Nations Conference on Trade and Development (UNCTAD), the online retail sales share of total retail sales jumped from 16% to 19% in 2020.

Some of the major players operating in the market include Adobe; Google; IBM; Oracle; SAS Institute Inc.; Salesforce, Inc.; Micro Focus; NICE; SAP SE; and Ebiquity plc. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report

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

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 2021. 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.

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Multichannel Analytics Market Report Coverage

“Amongst application, the campaign management segment held a prominent share of the market in 2021”

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 2021. Multichannel campaign management enables companies to define, orchestrate and communicate offers to customers across websites, mobile, social, direct mail, call centers, and email.

“Asia-Pacific to lead the growth during the forecasted period”

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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.

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 multichannel analytics 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 Multichannel Analytics Market Analysis (2022-2028)

Analyzing the historical market, estimating the current market, and forecasting the future market of the global multichannel analytics market were the three major steps undertaken to create and analyze the adoption of multichannel analytics 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 the global multichannel analytics 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:

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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 multichannel analytics 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 multichannel analytics 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, application, and industry. 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 multichannel analytics market. Further, we conducted factor analysis using dependent and independent variables such as c component, application, and industry of the multichannel analytics 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 Multichannel Analytics 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 multichannel analytics 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.

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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 multichannel analytics market across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the global multichannel analytics 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.

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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 multichannel analytics market. data was split into several segments & sub-segments post studying various parameters and trends in the areas of the component, application, and industry in the global multichannel analytics market.

The main objective of the Global Multichannel Analytics Market Study

The current & future market trends of the global multichannel analytics 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 multichannel analytics 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, application, and industry
• Define and analysis of the regulatory framework for the multichannel analytics 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 multichannel analytics 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 multichannel analytics 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

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