Multichannel analytics is the process where multiple sets of data from different channels or sources are linked together for analysis. Multichannel analytics helps business organizations to understand customer behavior, hence raising the adoption of multichannel analytics that drives the growth of the market. Growing adoption of multichannel marketing for customer engagement is also boosting the growth of multichannel analytics market.
MARKET SCOPE
The "Global Multichannel Analytics Market Analysis to 2028" is a specialized and in-depth study with a special focus on the global market trend analysis. The report aims to provide an overview of the multichannel analytics market with detailed market segmentation by component, deployment mode, enterprise size, application, end-user, and geography. The report provides key statistics on the market status of the leading multichannel analytics market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on component, the global multichannel analytics market is segmented into solution and service.
- On the basis of into deployment mode, the market is segmented into on-premises and cloud.
- Based on enterprise size, the market is segmented into SMEs and large enterprises.
- Based on application, the market is segmented into customer retention and acquisition, cross-selling and up-selling, loyalty and customer experience management, campaign management, sales performance management, and others.
- Based on end-user, the market is segmented into BFSI, retail, travel and hospitality, media and entertainment, IT and telecom, and others.
MARKET DYNAMICS
Drivers:
- Multichannel analytical solutions monitor channels such as mobile, online advertising, social media retail purchase, blogs, and others.
- Additionally, it is capable of tracking the purchasing trends of the customer, thus growing the adoption of multichannel analytics, which propels the growth of the market.
- The analytical solution reduces the excessive spending of the organization for customer engagement and promotion campaigns, hence driving the growth of the market.
- Growing cloud-based applications and rising need for multichannel analytics solutions provide lucrative opportunities for the market player of the multichannel analytics market.
Restraints:
- Data privacy and security concerns may hinder the growth of the multichannel analytics market.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The multichannel analytics market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the multichannel analytics market in these regions.
IMPACT OF COVID-19 ON MULTICHANNEL ANALYTICS MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
MARKET PLAYERS
The report covers key developments in the multichannel analytics market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from multichannel analytics market are anticipated to lucrative growth opportunities in the future with the rising demand in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the multichannel analytics market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Adobe
- Fospha
- Google LLC
- IBM
- Micro Focus
- Oracle
- Salesforce.com, Inc.
- SAP SE
- SAS Institute Inc.
- Trianz