According to a new report published by UnivDatos, the Multichannel Analytics Market is expected to grow at a CAGR of around 22% from 2022-2028. The analysis has been segmented into Component (Solutions [Query & Reporting, Visualization, Multidimensional Analysis, Data Mining & Predictive Analytics, and Others] and Services); Application (Customer Retention & Acquisition, Cross-Selling & Up-Selling, Customer Experience Management, Campaign Management, and Others); Industry (Information & Communication Technology, Banking & Financial Services, Manufacturing, Retail & E-commerce, and Others); Region/Country.

The multichannel analytics market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the multichannel analytics market. The multichannel analytics market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the multichannel analytics market at the global and regional levels.

Market Overview

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.

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COVID-19 Impact

Although the COVID-19 pandemic had its worst impact on several industries, it is acting positively for the developments in information technology. The trend of remote access and digital marketing promoted the adoption of multichannel analytics in different end-user verticals lately.

The global multichannel analytics market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.

·         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 2020. Multichannel campaign management enables companies to define, orchestrate and communicate offers to customers across websites, mobile, social, direct mail, call centers, and email

·         On the basis of industry, the market is segmented into information & communication technology, banking & financial services, manufacturing, retail & e-commerce, and others. The retail & e-commerce industry held a major share of the multichannel analytics market in 2020 and is expected to grow at a substantial CAGR during the forecasted period due to the rising online shopping trends owing to widespread internet connectivity. Moreover, increasing integration of machine learning, artificial intelligence, and data analytics with e-commerce is further contributing to the growth of this segment

Multichannel Analytics Market Geographical Segmentation Includes:

·         North America (U.S., Canada, and the Rest of North America)

·         Europe (Germany, U.K., France, Italy, Spain, and the Rest of Europe)

·         Asia-Pacific (China, India, Japan, and the Rest of Asia-Pacific)

·         Rest of the World

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.

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