What is Customer Behavior Analytics Market?
Customer behavior analytics used to understand how a customer’s act across each channel and interaction point either digital or non-digital and what influences their actions. This analytics helps companies to know their right audience and use a better way of marketing their products through various communication channels such as digital or offline. This saves a lot of time that was required in the traditional way of CSR calling. To understanding customer behavior, buying patterns, preferences, and sentiments, plays an important role in any industry. Moreover, with the growing popularity of the internet and social media, and the traditional models of understanding customer preferences the customer behavior market is facing an upsurge.
The market study is being classified by Type (Customer Acquisition, Customer Engagement and Customer Retention), by Application (E-commerce and Retail, Online Gaming, Application Development, Cohort Analysis and Security) and major geographies with country level break-up.
Adobe Systems Inc. (United States), SAS Institute Inc. (United States), Microsoft Corporation (United States), IBM Corporation (United States), Oracle Corporation (United States), NGDATA Inc. (Belgium), Cooladata (United States), Alteryx Inc. (United States), Angoss Software Corporation (Canada), Axtria Inc. (United States) and Bridgei2i Analytics Solution (India) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Manthan Software Services Pvt Ltd (India), Pitney Bowes Inc. (United States), Salesforce.Com Inc. (United States) and Teoco Corporation (United States).
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Customer Behavior Analytics market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Customer Behavior Analytics market by Type, Application and Region.
On the basis of geography, the market of Customer Behavior Analytics has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Growing Need to Prevent Threats Posed by Users
- Ability to Offer End to End Protection
Market Trend
- Adoption of Cloud-Based Behavior Analytics Solutions
- Growing Use of Behavior Analytics in Healthcare
Restraints
- Lack of Awareness About Insider Threat
- High Cost of Implementation
Opportunities
- Integration of Advanced Analytics and Machine Learning
- User-centric Approach Followed by Organizations
Challenges
- Lack of Implementation of Behavior Analytics in Small Organizations
Key Target Audience
Application System Providers, Third-Party Hosts, IT System Providers, Cloud Service Providers, Technology Consultants, Communications Service Providers and Others