Home » Technology » Multichannel Analytics Market Research – Likely To Witness Expansion In Future

Multichannel analytics is a business process wherein several data sets from various sources are connected and studied to generate revenue. Multichannel analytics provides marketing intelligence in decision making. The multichannel analytics market is anticipated to witness expansion in the future. This is as a result of adoption of multichannel marketing to retain customers.

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The pivotal factors driving the multichannel analytics market are rising social consumers and changing behavior of buyers who switch from traditional methods to online shopping. Moreover, rising trends for cloud computing are also creating huge opportunities for the market. However, the lack of skilled people and experts are likely to hamper the market.

The multichannel analytics market can be segmented into services, solutions, applications, verticals and geographies. The services market can be divided into support & maintenance services and professional services.

The multichannel analytics market, on the basis of solutions, can be segregated into data mining and predictive analytics, query & reporting, visualization and multidimensional analysis. The applications market can be fragmented into cross selling and up selling, campaign management, customer retention & acquisition and customer experience & loyalty.

The multichannel analytics market can also be divided into verticals. They include media & entertainment, BFSI (banking, financial services and insurance), retail and consumer goods, travel and tourism, healthcare and governmental.

Geographically, North America and Europe accounted for the largest multichannel analytics markets in terms of revenue. They are expected to lead the market over the forecast period. Asia Pacific is registering steady growth on account of increasing customers for online shopping. Demand for the multichannel analytics market in Asia Pacific is steered by the emerging economies of China and India.

Multichannel Analytics Market Research

Information Source: Grand View Research