Global Customer Intelligence Platform Market Report and Forecast 2023-2028

Global Customer Intelligence Platform Market Report and Forecast 2023-2028

Market Outlook

According to the report by Expert Market Research (EMR), the global customer intelligence platform market reached a value of USD 1.86 billion in 2022. Aided by the escalating need for personalised customer experiences and the expansion of applications of customer intelligence in various sectors, the market is projected to further grow at a CAGR of 19.47% between 2023 and 2028 to reach a value of USD 6.4 billion by 2028.

A customer intelligence platform is a comprehensive toolset that assists businesses in collecting, analysing, and utilising customer data for delivering personalised and relevant experiences. It plays a significant role in improving customer retention, enhancing the efficiency of marketing campaigns, and driving overall business growth. Moreover, customer intelligence platforms are increasingly utilised across numerous industries, including retail, e-commerce, banking, insurance, and telecommunications.

The rising focus on delivering personalised customer experiences is primarily propelling the global customer intelligence platform market growth. As consumers are becoming more informed and demanding, the need for understanding customer behaviour and preferences has soared. This shift has sparked a surge in the demand for customer intelligence platforms that can collect and analyse customer data to provide insights for crafting personalised experiences.

Moreover, the increasing trend of digitalisation has further amplified the significance of customer intelligence platforms. The transition to online platforms has provided businesses with an abundance of customer data. However, harnessing this data and extracting valuable insights from it is a complex task. Customer intelligence platforms make this process simpler and more efficient, leading to their growing popularity among businesses of all sizes.

The widening applications of customer intelligence platforms in various sectors also play an instrumental role in the customer intelligence platform market expansion. In the retail and e-commerce industry, customer intelligence platforms are used to understand shopping patterns, preferences, and behaviours to deliver tailored product recommendations and promotions. The banking and insurance sector utilises these platforms for risk assessment, fraud detection, and optimising customer service. The telecommunications industry leverages customer intelligence for improving network performance, customer segmentation, and enhancing customer loyalty.

Moreover, the increasing demand for real-time customer insights has propelled an increased focus on customer intelligence platforms. With the rapidly changing customer preferences and market dynamics, businesses need to adapt quickly to stay competitive. Real-time customer intelligence allows businesses to react to changes instantly, providing them with a competitive edge. This, in turn, has further catalysed the customer intelligence platform market development.

Market Segmentation

The market can be divided based on data channel, vertical, deployment type, component, application, and region.

Market Breakup by Data Channel

• Web and E-mail
• Social Media
• Mobile
• Call Centres
• In stores
• Others

Market Breakup by Vertical

• BFSI
• Telecom
• Travel and Hospitality
• Retail and eCommerce
• Healthcare and Lifesciences
• Manufacturing
• Energy and Utilities
• Media and Entertainment
• Others

Market Breakup by Deployment Type

• Cloud
• On-premises

Market Breakup by Component

• Platform
• Services

Market Breakup by Application

• Customer Data Collection and Management
• Customer Behaviour Analytics
• Customer Segmentation and Targeting
• Customer Experience Management and Personalised Recommendation
• Customer Retention and Engagement
• Omnichannel Marketing
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global customer intelligence platform companies. Some of the major key players explored in the report by Expert Market Research are as follows:

• IBM Corporation
• Microsoft Corporation
• Oracle Corporation
• Accenture PLC
• SAP SE
• Adobe Inc.
• SAS Institute Inc.
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.