North America Customer Journey Analytics Market Report and Forecast 2024-2032

North America Customer Journey Analytics Market Outlook

The North America customer journey analytics market size was approximately USD 1.54 billion in 2023. The market is assessed to grow at a CAGR of 10.3% between 2024 and 2032, reaching a value of USD 3.76 billion by 2032.

Key Trends in the Market

Customer journey analytics is a process that involves understanding the impact of customer interactions with a business. The process includes the analysis of various factors such as customer needs, customer satisfaction scores, customer effort scores, and survey results. By analysing the customer journey, a business can gain insights for improving the experience of its customers and meeting their evolving needs.

• The North America customer journey analytics market growth is being supported by the rising digital transformation by organisations. By analysing data collected from customer journeys, organisations can identify challenges and opportunities to ameliorate the customer experience and increase their engagement and loyalty. Customer journey analytics possess multiple advantages, including enhanced customer retention, increased revenue, better allocation of resources, and improvement in decision-making.

• One of the key factors supporting the North America customer journey analytics market expansion is the integration of customer journey analytics solutions with technologies like artificial intelligence and machine learning. Such technologies use data sources such as past purchase behaviour, social media activity, and website engagement to analyse a customer’s journey.

• Customer journey analytics is crucial for overall business growth as it emphasises revenue boost and customer acquisition. Hence, it is widely used in different sectors, including IT and telecommunication, healthcare, hospitality, and banking, financial services, and insurance (BFSI), among others.

• The launch of innovative solutions by key players is supporting the North America customer journey analytics market demand. For instance, in November 2023, Monetate, an American software company, launched customer journey analytics to create personal and meaningful connections between customers and brands. With this solution, users get to test and personalise their merchandise and gain a better understanding of consumers’ interactions throughout their journey.

North America Customer Journey Analytics Market Segmentation

Based on component, the market is segmented into solutions and services. On the basis of deployment, the market can be categorised into on-premises and cloud. Based on application, the market is divided into customer segmentation and targeting, customer behavioural analysis, brand management, campaign management, and product management, among others.

Based on touchpoint, the market is classified into web, social media, mobile, e-mail, branch or store, and call centre, among others. On the basis of organisation size, the market is divided into large enterprises and small and medium enterprises.

Based on industry vertical, the market is segmented into BFSI, IT and telecommunications, retail and e-commerce, healthcare, media and entertainment, and transportation and logistics, among others. Based on country, the market is bifurcated into the United States of America and Canada.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the North America customer journey analytics market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments, and expansion plans.

• Oracle Corp. 

• Adobe Inc. 

• Salesforce, Inc. 

• NICE Ltd. 

• Microsoft Corp 

• Genesys Cloud Services, Inc. 

• CallMiner, Inc.

• Alterian Software Holdings, LLC 

• Teradata Corp. 

• Verint Systems, Inc. 

• Others

Market Share by Industry Vertical

The BFSI sector holds a significant portion of the North America customer journey analytics market share. Financial service providers are using data and analytics to enhance customer experience. These organisations gather information from various sources and analyse account activity to better understand customer needs.

Customers interact with various financial service providers for services related to banks, insurance, retirement, and annuities. This interaction is done through various portals, including phones, e-mails, chatbots, and chat messengers, among others. These interactions are important as it gives BFSI organisations a better understanding of their customer’s needs.

Market Share by Touchpoint

As per the North America customer journey analytics market analysis, the rising popularity of social media platforms is aiding the market expansion. The number of social media users in the United States is approximately 302.35 million, while Canada has around 33.1 million social media users, with Facebook being the most popular social media platform.

Conventional methods for understanding customers' needs and preferences may not encompass the full range of their consumption behaviour. With the prevalence of social media, organisations can conduct customer journey mapping to better comprehend customers' objectives, motivations, and experiences at each stage of their journey to optimise their experiences.

On the other hand, traditional feedback-gathering methods like interviews and surveys used in stores give a personalised touch to the customer-business interaction. It also promotes flexibility and data accuracy, which helps companies to better understand the responses and needs of customers.

Competitive Landscape

Salesforce, Inc. is an American cloud-based software company with its headquarters in San Francisco, California. It operates in various industries, such as automotive, manufacturing, communications, consumer goods, education, energy and utilities, and financial services, among others.

Adobe Inc. was founded in 1982 and is headquartered in California, the United States. It is an American multinational computer software company. Businesses can gain valuable insight into customer journeys with Adobe’s cross-channel customer analytics solutions that provide real-time experiences.

Microsoft Corp. was founded in 1975 and is an American multinational technology corporation headquartered in Washington. It has developed different products in the realm of technology, including Azure, Dynamics 365, Microsoft Security, Github, and HoloLens 2, among others.

Other North America customer journey analytics market players include Oracle Corp., NICE Ltd., Genesys Cloud Services, Inc., CallMiner, Inc., Alterian Software Holdings, LLC, Teradata Corp., and Verint Systems, Inc. among others.

Key Highlights of the Report