Summary

The Multichannel Analytics Market is expected to grow at a strong CAGR of around 22% during the forecast period owing to the growing use of social media and the increasing adoption of analytical solutions among industries. Multichannel analytics is a business process that brings data from various sources or channels together in one place. For example, if a person has three online stores, a multichannel analytics tool can be used to aggregate data from each store in one place. These tools record data for each website and systematically filter it for analysis. Multichannel analytics helps improve efficiency across the enterprise. Data helps enterprises understand their customer and how a user behaves on their website. This kind of detailed overview helps companies reduce their spending on customer retention and advertising campaigns by using the data they have to make effective plans. The growing adoption of multichannel marketing for customer engagement and the rising trend of online shopping due to a large coverage of the internet is further contributing to the growth of the market. For instance, according to the United Nations Conference on Trade and Development (UNCTAD), the online retail sales share of total retail sales jumped from 16% to 19% in 2020.

Some of the major players operating in the market include Adobe; Google; IBM; Oracle; SAS Institute Inc.; Salesforce, Inc.; Micro Focus; NICE; SAP SE; and Ebiquity plc. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report
“Amongst component, the solutions segment held a prominent share of the market in 2021”
Based on component, the market is bifurcated into solutions and services. Amongst these, the solutions segment catered to a significant share of the market in 2021. This is due to the benefits associated with multi-channel analytics solutions such as larger reach, boosted engagement, brand promotion, and streamlined customer journeys are further contributing to the growth of the market for multichannel analytics solutions.

“Amongst application, the campaign management segment held a prominent share of the market in 2021”
By application, the market is divided into customer retention & acquisition, cross-selling & up-selling, customer experience management, campaign management, and others. Among these, the campaign management segment captured a commendable share of the multichannel analytics market in 2021. Multichannel campaign management enables companies to define, orchestrate and communicate offers to customers across websites, mobile, social, direct mail, call centers, and email.

“Asia-Pacific to lead the growth during the forecasted period”
APAC is expected to grow at a substantial CAGR during the forecast period owing to the increasing adoption of multichannel analytics solutions amongst the businesses in the region to manage marketing campaigns and the need to manage customers across various channels. Multichannel analytics offers an easier way for businesses to grow their customer base, attract more customers around the world, and generate more revenue. Moreover, multichannel analytics is not limited to online marketplaces, but also includes social media platforms with integrated purchases, corporate websites selling their products, and even physical stores.

Reasons to buy this report:
• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:
The global multichannel analytics market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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