Customer Intelligence Platform Market Size Worth $14 Billion By 2030: IndustryARC
Research Reports
Oct 04, 2023
Customer Intelligence Platform Market size is predicted to reach $14 billion by 2030, growing at a CAGR of 28.5% during the forecast period 2023-2030 according to the latest market research report published by IndustryARC. Increasing demand for personalized customer experiences and rising adoption of blockchain technology are poised to propel the market growth, finds IndustryARC in its recent report, titled “Customer Intelligence Platform Market Size, Share & Trends Analysis Report By Deployment Mode (On-Premises, Cloud), By Component ( Platform, Services), By Organization Size (Small and Medium Size Enterprises, Large Size Enterprises), By Data Channel (Social Media, Web, Email, Mobile, Call Centre, Instore, Others), By Application (Customer Segmentation and Targeting, Customer Data Collection and management, Customer Retention and Engagement, Customer Behavior Analytics, Omni-channel Marketing, Personalized Recommendation, Others), By End-Use Industry (Retail and E-commerce, BFSI, Healthcare and Life Sciences, Information Technology and Telecom, Travel and Hospitality, Media and Entertainment, Government and Defence, Others), By Region and Segment Forecasts, 2023–2030”
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Asia Pacific to Register Highest Growth:
The Customer Intelligence Platform industry in this region has the highest growth owing to the increasing adoption of cloud-based solutions and rapidly growing e-commerce. Additionally, increasing demand for personalized experiences helps businesses to deliver on these expectations by providing insights into individual customer preferences are the major factors propelling the market growth in this region.
Customer Intelligence Platform Market 2023-2030: Scope of the Report
|
Report Metric |
Details |
|
Base Year Considered |
2022 |
|
Forecast Period |
2023–2030 |
|
CAGR |
28.5% |
|
Market Size in 2030 |
$14 billion |
|
Segments Covered |
Deployment Mode, Component, Organization Size, Data Channel, Application, End-USe Industry and Region |
|
Geographies Covered |
North America (U.S., Canada and Mexico), Europe (Germany, France, UK, Italy, Spain, Russia and Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia, New Zealand and Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia and Rest of South America), Rest of the World (Middle East and Africa). |
|
Key Market Players |
1. Oracle Corporation 2. IBM Technology corporation 3 .Microsoft Corporation 4. SAS Institute Inc. 5. Adobe Inc. 6. Google LLC 7. Salesforce Inc. 8. Accenture 9. SAP SE 10. Informatica Inc. |
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Customer Intelligence Platform Market Report – Key Takeaways:
Platform Dominated the Market Growth
The Platform segment had more than one third of the market share in 2022. This growth is attributed to the increase comprehensive customer intelligence platforms that offer a wide range of tools and technologies designed to help businesses collect, store, analyze and act on customer data. Additionally, many CIP vendors are investing in advanced analytics, AI and ML capabilities which helps businesses to identify new growth opportunities and improve their customer retention rates are driving the growth in the customer intelligence platform market.
Cloud Based to Register Highest Growth
Cloud based is analyzed to grow with the highest CAGR of 29.5% during the forecast period. It offers businesses a flexible, scalable and accessible solution for managing customer data, analyzing customer behavior as well as engaging with customers across multiple channels and touchpoints. As per Digital Forecast report, the adoption of cloud-based products and services has increase to 41.1% in 2023.
North America is Leading the Market
The North America region held a major market share of 37% in 2022. The strong presence in this region can be attributed to the high level of digital adoption and well- technology infrastructure which has led to a significant demand for CustomerIntelligence Platform solutions. In 2023, As per Ecommerce tips, the adoption of digital payments is projected to reach $2.04 trillion in 2023 and anticipated to reach $3.53 trillion by 2027 which offer new opportunities in the Customer Intelligence Platform Market.
Burgeoning Opportunities in Customer Segmentation
Customer platforms enable businesses to segment their customer base by demographics, behavior and preferences. This segmentation allows businesses to tailor their marketing and messaging to different customer groups, improving engagement and conversion rates which creates growth opportunities in Customer Intelligence Platform Market.
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Key Opportunity Analysis:
Personalization Scale in Customer Intelligence Platforms
Personalization at scale is increasingly important as companies compete for customer loyalty and retention. By providing personalized experiences, companies improve customer satisfaction as well as loyalty, and increase the lifetime value of their customers. Additionally, personalization at scale is enabled by the use of AI and machine learning technologies in customer intelligence platforms. AI and machine learning analyze vast amounts of customer data and provide insights in real time and allowing companies to deliver personalized experiences at scale.
Shifting Towards Omni-channel Customer Engagement
The omni-channel trend in the Customer Intelligence Platform market refers to the shift towards providing a seamless and consistent customer experience across all channels including online, social media, mobile and in-store. Customer intelligence platforms play a crucial role in enabling omni-channel engagement by providing a single view of the customer across all channels. This trend is driven by the changing expectations of customers, who want to interact with companies on their own terms through their preferred channels. Additionally, Omni-channel engagement also requires real time data analysis and insights. Customer intelligence platforms are increasingly incorporating real time data analysis capabilities, enabling companies to respond quickly to customer needs and preferences.
In November 2022, as per Green Book report, about 24% of the businesses are investing in the personalization omni-channel which helps to estimate customer expectations and desires.
Adoption of Mobile Business Intelligence
Mobile business intelligence enables companies to reach a wider audience with their customer intelligence insights. By providing access to business intelligence tools, dashboards and insights on mobile such as smartphones and tablets. Companies ensure that employees at all levels of the organization have access to real-time customer data and insights, improving collaboration and decision-making across the organization.
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The Report also Covers the Following Areas:
Customer Intelligence Platform Market Size and Forecast
Customer Intelligence Platform Market Trends
Customer Intelligence Platform Market Analysis by Deployment Mode
Customer Intelligence Platform Market 2023-2030: Key Highlights
CAGR of the market during the forecast period 2023-2030
Value Chain analysis of key stake holders
Detailed analysis of market drivers and opportunities during the forecast period
Customer Intelligence Platform Market size estimation and forecast
Analysis and predictions on end users’ behavior and upcoming trends
Competitive landscape and Vendor market analysis including offerings, developments, and financials
Comprehensive analysis of challenges and constraints in the Customer Intelligence Platform Market
Covid and Ukrainian Crisis Impact:
The Covid-19 pandemic has accelerated the demand for digital solutions as businesses are shifting their focus towards digital channels. This has led to an increased demand for customer intelligence platform solutions that help businesses better understand their customers and engage with them in a personalized way through digital channels. On the other hand, the pandemic has disrupted global supply chains making it more difficult for businesses to implement and maintain customer intelligence platform solutions. This has led to delays in implementation and maintenance which impacts the Customer Intelligence Platform Market growth.
The conflict between Russia and Ukraine has increased the demand for customer intelligence platform solutions. With the ongoing conflict and instability in the region, businesses may need to adapt to changing market conditions and customer behavior. This increase the demand for customer intelligence platform solutions that help businesses gather and analyze customer data to make informed decisions. On the other hand, the conflict has led to economic instability, disrupt supply chains and create data privacy as well as security concerns which impacts the Customer Intelligence Platform Market growth.
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List of Key Market Players in Customer Intelligence Platform Market:
The Global Customer Intelligence Platform Market is fragmented with several global and regional companies operating with expansive manufacturing capabilities and extensive distribution networks. The key companies profiled are listed below:
- Oracle Corporation
- IBM Technology corporation
- Microsoft Corporation
- SAS Institute Inc.
- Adobe Inc.
- Google LLC
- Salesforce Inc.
- Accenture
- SAP SE
- Informatica Inc.
- Verint Systems Inc
- Teradata Corporation
- Zeta Global Holdings Corp.
- TIBCO Software Inc.
- NICE
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Mr. Venkat Reddy IndustryARC Email: sales@industryarc.com USA: (+1) 518-282-472
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