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

  • ID: 4630300
  • Report
  • September 2018
  • Region: Global
  • 150 Pages
  • Markets and Markets
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The Global Service Analytics Market is Expected to Grow from USD 546.4 Million in 2018 to USD 1,056.1 Million by 2023, at a Compound Annual Growth Rate (CAGR) of 14.1% During the Forecast Period.

FEATURED COMPANIES

  • Agile Crm
  • Centina Systems
  • Field Squared
  • Microsoft
  • Numerify
  • Salesforce
  • MORE

The increase in need to improve the client and customer interaction, along with the rise in the necessity to become more data-driven are the major driving factors expected to boost the growth of the service analytics market.

The global service analytics market is expected to grow from USD 546.4 million in 2018 to USD 1,056.1 million by 2023, at a Compound Annual Growth Rate (CAGR) of 14.1% during the forecast period. Factors, such as the need for better client and customer interaction to maintain customer satisfaction coupled with the competitive pressure to become more data-driven are driving the growth 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. Hence, it has become necessary for engineering industries to replace their outdated software solutions with the advanced service analytics solutions. The poor data management along with the incomplete and inconsistent data, which carries threats to business are some factors that are challenging the growth of the service analytics market.

The customer service analytics segment is estimated to account for the largest market size in the service analytics market in 2018.

The customer service analytics segment is expected to dominate the overall service analytics market in terms of share during the forecast period, as to maintain the highest level of customer satisfaction to reduce risks and improve the efficiency across different industries. Particularly the upstream retail and eCommerce, BFSI, healthcare, and other industries are investing in the service analytics solution to utilize the data generated through the service systems to improve the overall service delivery.

APAC is projected to show the highest growth rate during the forecast period

The service analytics market growth in Asia Pacific (APAC) is gaining momentum and expected to show the highest growth rate in the coming years. Vendors worldwide have been extending the provision of their services in the region, also the rising venture funding strategies and R&D investments as an effort to provide advanced service analytics solution. In addition, major economies in APAC, such as China, India, Australia, and New Zealand, are investing into technologies to innovate the traditional business processes and enhance the performance. The region is witnessing an increase in the adoption of service analytics solution to enhance performance across the banking industry, and all other major industries.

In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with the key people. The break-up of the profiles of the primary participants is given below:

  • By Company: Tier 1: 15%, Tier 2: 32%, and Tier 3: 53%
  • By Designation: C-level: 38%, Director level: 30%, and Others: 32%
  • By Region: North America: 38%, Europe: 32%, APAC: 20%, and RoW: 10%

Research Coverage

The report segments the service analytics market based on components that covers solution and services, and by business application that includes field service analytics, customer service analytics, and IT service analytics. Based on organization size, the market has been bifurcated into large enterprises and Small and Medium-sized Enterprises (SMEs). Deployment model comprises on-premises and cloud. On the basis of industry verticals, the market is categorized into 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. Regions have been segmented into North America, Europe, APAC, Middle East and Africa (MEA), and Latin America.

Reasons to buy the report

The report would help leaders/new entrants in this market in the following ways:

  • This report segments the service analytics market comprehensively and provides the closest approximations of the revenue numbers for the overall market and subsegments across different end-users and regions.
  • The report helps stakeholders understand the pulse of the market and provides them with the information on the key market drivers, restraints, challenges, and opportunities.
  • This report would help stakeholders better understand competitors and gain more insights to enhance their position in the business. The competitive landscape section includes new product launches/developments; partnerships and collaborations; mergers and acquisitions; and expansions.
Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Agile Crm
  • Centina Systems
  • Field Squared
  • Microsoft
  • Numerify
  • Salesforce
  • MORE

1 Introduction

1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.4 Years Considered for the Study
1.5 Currency
1.6 Stakeholders

2 Research Methodology

2.1 Research Data
       2.1.1 Secondary Data
       2.1.2 Primary Data
                2.1.2.1 Breakdown of Primaries
                2.1.2.2 Key Industry Insights
2.2 Market Size Estimation
2.3 Research Assumptions
2.4 Limitations

3 Executive Summary

4 Premium Insights

4.1 Attractive Market Opportunities in the Service Analytics Market
4.2 Market Share Across Regions
4.3 Market Top 4 Industries and Regions

5 Market Overview and Industry Trends

5.1 Market Overview
5.2 Market Dynamics
       5.2.1 Drivers
                5.2.1.1 Need for Better Client and Customer Interaction
                5.2.1.2 Competitive Pressure to Become More Data-Driven
       5.2.2 Restraints
                5.2.2.1 Outdated IT Infrastructure
                5.2.2.2 Lack of Awareness of Service Analytics
       5.2.3 Opportunities
                5.2.3.1 Emergence of Ai-Powered Customer Services
                5.2.3.2 High Adoption of Analytics Among SMEs
       5.2.4 Challenges
                5.2.4.1 Complex and Ineffective Data Management
5.3 Industry Trends
       5.3.1 Service Analytics Market: Regulations
                5.3.1.1 General Data Protection Regulation
                5.3.1.2 Consumer Protection Act
       5.3.2 Service Analytics Market: Use Cases
                5.3.2.1 Use Case 1: Service Excellence Success Story for Johnson & Johnson Surgical Vision
                5.3.2.2 Use Case 2: to Consistently Optimize Business Processes of Flyerline, By Coresystems
                5.3.2.3 Use Case 3: Initiative to Focus on Five-Star Services Experience By A Global Appliance Manufacturer

6 Market By Business Application

6.1 Introduction
6.2 Customer Service Analytics
6.3 Field Service Analytics
6.4 IT Service Analytics

7 Service Analytics Market, By Component

7.1 Introduction
7.2 Solution
7.3 Services
       7.3.1 Managed Services
       7.3.2 Professional Services
                7.3.2.1 Support and Maintenance
                7.3.2.2 Consulting

8 Service Analytics Market, By Deployment Model

8.1 Introduction
8.2 On-Premises
8.3 Cloud

9 Market By Organization Size

9.1 Introduction
9.2 Large Enterprises
9.3 Small and Medium-Sized Enterprises

10 Service Analytics Market, By Industry

10.1 Introduction
10.2 Banking, Financial Services, and Insurance
10.3 Retail and Ecommerce
10.4 Healthcare
10.5 Government and Defense
10.6 Telecommunications
10.7 Manufacturing
10.8 Energy and Utilities
10.9 Others

11 Service Analytics Market, By Region

11.1 Introduction
11.2 North America
        11.2.1 By Country
                   11.2.1.1 United States
                   11.2.1.2 Canada
        11.2.2 By Component
        11.2.3 By Service
        11.2.4 By Professional Service
        11.2.5 By Business Application
        11.2.6 By Deployment Model
        11.2.7 By Organization Size
        11.2.8 By Industry
11.3 Europe
        11.3.1 By Country
                   11.3.1.1 United Kingdom
                   11.3.1.2 Germany
                   11.3.1.3 France
                   11.3.1.4 Rest of Europe
        11.3.2 By Component
        11.3.3 By Service
        11.3.4 By Professional Service
        11.3.5 By Business Application
        11.3.6 By Deployment Model
        11.3.7 By Organization Size
        11.3.8 By Industry
11.4 Asia Pacific
        11.4.1 By Country
                   11.4.1.1 China
                   11.4.1.2 Singapore
                   11.4.1.3 South Korea
                   11.4.1.4 Rest of Asia Pacific
        11.4.2 By Component
        11.4.3 By Service
        11.4.4 By Professional Service
        11.4.5 By Business Application
        11.4.6 By Deployment Model
        11.4.7 By Organization Size
        11.4.8 By Industry
11.5 Latin America
        11.5.1 By Country
                   11.5.1.1 Mexico
                   11.5.1.2 Brazil
                   11.5.1.3 Rest of Latin America
        11.5.2 By Component
        11.5.3 By Service
        11.5.4 By Professional Service
        11.5.5 By Business Application
        11.5.6 By Deployment Model
        11.5.7 By Organization Size
        11.5.8 By Industry
11.6 Middle East and Africa
        11.6.1 By Sub-Region
                   11.6.1.1 Middle East
                   11.6.1.2 Africa
        11.6.2 By Component
        11.6.3 By Service
        11.6.4 By Professional Service
        11.6.5 By Business Application
        11.6.6 By Deployment Model
        11.6.7 By Organization Size
        11.6.8 By Industry

12 Competitive Landscape

12.1 Overview
12.2 Competitive Scenario
        12.2.1 New Product Launches and Product Upgradations
        12.2.2 Partnerships and Collaborations
        12.2.3 Acquisitions
        12.2.4 Business Expansions
12.3 Service Analytics Market: Prominent Players

13 Company Profiles

13.1 Microsoft
13.2 Oracle
13.3 Salesforce
13.4 SAP
13.5 Servicenow
13.6 SAS Institute
13.7 Tableau Software
13.8 Microstrategy
13.9 Clicksoftware
13.10 Centina Systems
13.11 Paskon
13.12 Numerify
13.13 Field Squared
13.14 Helpshift
13.15 Icharts
13.16 Bluefletch
13.17 Mobi
13.18 Datahero
13.19 Agile Crm
13.20 Sisense
13.21 Aureus Analytics

14 Appendix

List of Tables

Table 1 United States Dollar Exchange Rate, 2015–2017
Table 2 Service Analytics Market Size, By Business Application, 2016–2023 (USD Million)
Table 3 Customer Service Analytics: Market Size By Region, 2016–2023 (USD Million)
Table 4 Field Service Analytics: Market Size By Region, 2016–2023 (USD Million)
Table 5 IT Service Analytics: Market Size By Region, 2016–2023 (USD Million)
Table 6 Service Analytics Market Size, By Component, 2016–2023 (USD Million)
Table 7 Solution: Market Size By Region, 2016–2023 (USD Million)
Table 8 Services: Market Size By Type, 2016–2023 (USD Million)
Table 9 Services: Market Size By Region, 2016–2023 (USD Million)
Table 10 Managed Services: Market Size By Region, 2016–2023 (USD Million)
Table 11 Professional Services: Market Size By Type, 2016–2023 (USD Million)
Table 12 Professional Services: Market Size By Region, 2016–2023 (USD Million)
Table 13 Support and Maintenance Market Size, By Region, 2016–2023 (USD Million)
Table 14 Consulting Market Size, By Region, 2016–2023 (USD Million)
Table 15 Service Analytics Market Size, By Deployment Model, 2016–2023 (USD Million)
Table 16 On-Premises: Market Size By Region, 2016–2023 (USD Million)
Table 17 Cloud: Market Size By Region, 2016–2023 (USD Million)
Table 18 Market Size By Organization Size, 2016–2023 (USD Million)
Table 19 Large Enterprises: Market Size By Region, 2016–2023 (USD Million)
Table 20 Small and Medium-Sized Enterprises: Market Size By Region, 2016–2023 (USD Million)
Table 21 Service Analytics Market Size, By Industry, 2016–2023 (USD Million)
Table 22 Banking, Financial Services, and Insurance: Market Size By Region, 2016–2023 (USD Million)
Table 23 Retail and Ecommerce: Market Size By Region, 2016–2023 (USD Million)
Table 24 Healthcare: Market Size By Region, 2016–2023 (USD Million)
Table 25 Government and Defense: Market Size By Region, 2016–2023 (USD Million)
Table 26 Telecommunications: Market Size By Region, 2016–2023 (USD Million)
Table 27 Manufacturing: Market Size By Region, 2016–2023 (USD Million)
Table 28 Energy and Utilities: Market Size By Region, 2016–2023 (USD Million)
Table 29 Others: Market Size By Region, 2016–2023 (USD Million)
Table 30 Service Analytics Market, By Region, 2016–2023 (USD Million)
Table 31 North America: Market Size By Country, 2016–2023 (USD Million)
Table 32 North America: Market Size By Component, 2016–2023 (USD Million)
Table 33 North America: Market Size By Service, 2016–2023 (USD Million)
Table 34 North America: Market Size By Professional Service, 2016–2023 (USD Million)
Table 35 North America: Market Size By Business Application, 2016–2023 (USD Million)
Table 36 North America: Market Size By Deployment Model, 2016–2023 (USD Million)
Table 37 North America: Market Size By Organization Size, 2016–2023 (USD Million)
Table 38 North America: Market Size By Industry, 2016–2023 (USD Million)
Table 39 Europe: Service Analytics Market Size, By Country, 2016–2023 (USD Million)
Table 40 Europe: Market Size By Component, 2016–2023 (USD Million)
Table 41 Europe: Market Size By Service, 2016–2023 (USD Million)
Table 42 Europe: Market Size By Professional Service, 2016–2023 (USD Million)
Table 43 Europe: Market Size By Business Application, 2016–2023 (USD Million)
Table 44 Europe: Market Size By Deployment Model, 2016–2023 (USD Million)
Table 45 Europe: Market Size By Organization Size, 2016–2023 (USD Million)
Table 46 Europe: Market Size By Industry, 2016–2023 (USD Million)
Table 47 Asia Pacific: Service Analytics Market Size, By Country, 2016–2023 (USD Million)
Table 48 Asia Pacific: Market Size By Component, 2016–2023 (USD Million)
Table 49 Asia Pacific: Market Size By Service, 2016–2023 (USD Million)
Table 50 Asia Pacific: Market Size By Professional Service, 2016–2023 (USD Million)
Table 51 Asia Pacific: Market Size By Business Application, 2016–2023 (USD Million)
Table 52 Asia Pacific: Market Size By Deployment Model, 2016–2023 (USD Million)
Table 53 Asia Pacific: Market Size By Organization Size, 2016–2023 (USD Million)
Table 54 Asia Pacific: Market Size By Industry, 2016–2023 (USD Million)
Table 55 Latin America: Service Analytics Market Size, By Country, 2016–2023 (USD Million)
Table 56 Latin America: Market Size By Component, 2016–2023 (USD Million)
Table 57 Latin America: Market Size By Service, 2016–2023 (USD Million)
Table 58 Latin America: Market Size By Professional Service, 2016–2023 (USD Million)
Table 59 Latin America: Market Size By Business Application, 2016–2023 (USD Million)
Table 60 Latin America: Market Size By Deployment Model, 2016–2023 (USD Million)
Table 61 Latin America: Market Size By Organization Size, 2016–2023 (USD Million)
Table 62 Latin America: Market Size By Industry, 2016–2023 (USD Million)
Table 63 Middle East and Africa: Service Analytics Market Size, By Sub-Region, 2016–2023 (USD Million)
Table 64 Middle East and Africa: Market Size By Component, 2016–2023 (USD Million)
Table 65 Middle East and Africa: Market Size By Service, 2016–2023 (USD Million)
Table 66 Middle East and Africa: Market Size By Professional Service, 2016–2023 (USD Million)
Table 67 Middle East and Africa: Market Size By Business Application, 2016–2023 (USD Million)
Table 68 Middle East and Africa: Market Size By Deployment Model, 2016–2023 (USD Million)
Table 69 Middle East and Africa: Market Size By Organization Size, 2016–2023 (USD Million)
Table 70 Middle East and Africa: Market Size By Industry, 2016–2023 (USD Million)
Table 71 New Product Launches and Product Upgradations, 2017–2018
Table 72 Partnerships and Collaborations, 2017
Table 73 Acquisitions, 2015–2018
Table 74 Business Expansions, 2015–2018
Table 75 Key Players in the Service Analytics Market

List of Figures

Figure 1 Service Analytics Market Segmentation
Figure 2 Market Research Design
Figure 3 Breakdown of Primary Interviews: By Company, Designation, and Region
Figure 4 Data Triangulation
Figure 5 Market Size Estimation Methodology: Bottom-Up Approach
Figure 6 Market Size Estimation Methodology: Top-Down Approach
Figure 7 Service Analytics Market: Assumptions
Figure 8 Market is Expected to Witness High Growth During the Forecast Period
Figure 9 Market By Component (2018 vs 2023)
Figure 10 Market By Business Application (2018–2023)
Figure 11 Market By Deployment Model (2018–2023)
Figure 12 Market By Organization Size (2018–2023)
Figure 13 Market By Industry (2018 vs 2023)
Figure 14 Increasing Need Among Organizations to Interact With Customers to Understand Their Demands is Expected to Be the Major Factor Contributing to the Growth of the Service Analytics Market
Figure 15 North America is Estimated to Have the Largest Market Share in 2018
Figure 16 Banking, Financial Services, and Insurance Industry and North America are Estimated to Have the Largest Market Shares in 2018
Figure 17 Service Analytics Market: Drivers, Restraints, Opportunities, and Challenges
Figure 18 Customer Service Analytics Segment is Expected to Account for the Largest Market Size During the Forecast Period
Figure 19 Solution Segment is Expected to Account for the Larger Market Size During the Forecast Period
Figure 20 Professional Services Segment is Expected to Account for the Larger Market Size During the Forecast Period
Figure 21 Consulting Segment is Expected to Account for the Larger Market Size By 2023
Figure 22 Cloud Segment is Expected to Account for the Larger Market Size During the Forecast Period
Figure 23 Large Enterprises Segment is Expected to Account for the Larger Market Size During the Forecast Period
Figure 24 Retail and Ecommerce Industry is Expected to Account for the Largest Market Size By 2023
Figure 25 Asia Pacific is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 26 North America: Market Snapshot
Figure 27 Asia Pacific: Market Snapshot
Figure 28 Key Developments By the Leading Players in the Service Analytics Market, 2015–2018
Figure 29 Microsoft: Company Snapshot
Figure 30 Microsoft: SWOT Analysis
Figure 31 Oracle: Company Snapshot
Figure 32 Oracle: SWOT Analysis
Figure 33 Salesforce: Company Snapshot
Figure 34 Salesforce: SWOT Analysis
Figure 35 SAP: Company Snapshot
Figure 36 SAP: SWOT Analysis
Figure 37 Servicenow: Company Snapshot
Figure 38 Servicenow: SWOT Analysis
Figure 39 SAS Institute: Company Snapshot
Figure 40 Tableau Software: Company Snapshot
Figure 41 Microstrategy: Company Snapshot

Note: Product cover images may vary from those shown
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  • Microsoft
  • Oracle
  • Salesforce
  • SAP
  • Servicenow
  • SAS Institute
  • Tableau Software
  • Microstrategy
  • Clicksoftware
  • Centina Systems
  • Paskon
  • Numerify
  • Field Squared
  • Helpshift
  • Icharts
  • Bluefletch
  • Mobi
  • Datahero
  • Agile Crm
  • Sisense
  • Aureus Analytics
Note: Product cover images may vary from those shown
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