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Service Analytics Market by Business Application, Component, Deployment Model, Organization Size, Industry And Region - Global Forecast to 2023

Service Analytics Market: Global Forecast until 2023

  • September 2018
  • 150 pages
  • ID: 5581100
In this report:
The professional services segment is expected to account for the larger market size during the forecast period and projected to grow from USD ##.## million in 2018 to USD ##.## million by 2023, at a CAGR of ##.##% during the forecast period.
The retail and eCommerce industry's market size is expected to grow from USD ##.## million in 2018 to USD ##.## million by 2023, at the highest CAGR of ##.##% during the forecast period.

Summary

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The growth in need to ameliorate the client and customer interaction, together with the increase in the necessity to become more data-driven are the main driving factors anticipated to boost the rise of the service analytics market.

The overall service analytics market is forecasted to grow from $546.40M in 2018 to $1056.10M by 2023, at a Compound Annual Increase rate of 14.10 percent during the forecast period. Factors, including the need for better client and customer interaction to preserve customer satisfaction along the competitive pressure to become more data-driven are driving the increase of the service analytics market. Industrial big data is leading to the explosion of data, which is difficult to manage, as it is collected from multiple systems, devices, and applications. Therefrom, it has become necessary for engineering markets to replace their outdated software solutions with the advanced service analytics solutions. The poor data management together with the incomplete and inconsistent data, which carries threats to business are some factors that are challenging the rise of the service analytics market.

The customer service analytics segment is expected to account for the biggest industry size in the service analytics market in 2018.

The customer service analytics segment is forecasted to dominate the global service analytics market in terms of share during the estimate period, as to maintain the more considerable level of customer satisfaction to minimize risks and improve the efficiency across various sectors. Particularly the upstream retail and eCommerce, Banking, Financial services and Insurance (BFSI), healthcare, and other markets are investing in the service analytics solution to utilize the information generated through the service systems to enhance the global service delivery.

Asia-Pacific is estimated to show the highest rise rate during the outlook period

The service analytics market increase in Asia Pacific (APAC) is gaining momentum and anticipated to show the maximum growth rate in the next years.Sellers worldwide have been extending the provision of their services in the area, also the growing venture funding strategies and Research and development investments as an effort to offer advanced service analytics solution.

Additionally, main economies in Asia-Pac, such as china (CN), India (IN), Australia (AU), and New Zealand (NZ), are investing into technologies to innovate the traditional business processes and enhance the performance. The territory is attesting a rise in the adoption of service analytics solution to embellish performance across the banking industry, and all other main sectors.

In the process of finding out and checking the market value for various segments and sub-segments collected by secondary research, extensive primary audit sessions were managed with the main people. The break-up of the profiles of the primary participants is presented below:

• By Organization: Tier 1: 15.0 percent, Tier 2: 32.0 percent, and Tier 3: 53.0 percent

• By Description: C-suite: 38.0 percent, D-level: 30.0 percent, and Others: 32.0 percent

• By Area: North America continent: 38.0 percent, EU: 32.0 percent, Asia-Pacific: 20.0 percent, and RoW: 10.0 percent

Segment Research

The document breaks down the service analytics market established on components that includes solution and services, and by business application that includes field service analytics, customer service analytics, and IT service analytics.Established on organization size, the industry has been bifurcated into big enterprises and Small and Medium-sized Enterprises.

Deployment model comprises on-premises and cloud.On the basis of industry verticals, the sector is classified into Banking, Financial services and Insurance (BFSI), retail and eCommerce, healthcare, Telecommunications, manufacturing, energy and utilities, government and defense, and others comprising education, automotive, media and entertainment, and travel and hospitality.

Territories have been divided into north america, Europe (EU), Asia-Pac, Middle East (ME) and African continent, and Latin America area.

Why acquiring this study can help you

The analysis would benefit competitors/new sector entrants in this sector in these ways:

1. This document breaks down the service analytics market comprehensively and offers the best approximations of the revenue data for the global market and sub-segments across distinct end-users and localities.

2. The market research benefits partners comprehend the pulse of the sector and offers them with the info on the main market drivers, market restraints, opportunities, and alternatives.

3. This industry report would benefit partners better comprehend players and obtain additional insights to improve their rank in the business sector. The competitive outlook section includes recent product launches/advancements; alliances and collaborations; mergers and acquisitions; and business developments.

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