The Europe Product Analytics Market would witness market growth of 19.1% CAGR during the forecast period (2021-2027).
Organizations are now concentrating more on flexible data analysis according to their business needs. This means that organizations are looking for advisory services before beginning but struggling to gain ownership rapidly in the upcoming years. Also, companies are making sure that the analytical model chosen by them is harmonious with the way their customers communicate, to get key insights. With the help of results achieved from analytics tools, organizations can convert the data into significant information. This feature adds value to both, the customers and the business. Also, to improve the functionality of business intelligence applications, organizations are implementing technologies such as artificial intelligence (AI), machine learning (ML), and big data.
These technologies help in segregating the large volume of data into small insights that can be utilized by organizations to acquire an enhanced understanding of smaller components in the large picture. Though, there is an increment in the demand for product analytics because it makes the information beneficial by integrating all information resources to give a unified perspective.
Europe is home to many of the key players of the product analytics market. With the continuous improvements in big data analytics, the data is now utilized to get meaningful insights, which assist in the generation of revenue and exploiting untapped potential in the market. This software also helps in customizing services according to the needs of customers. The software allows improving the customer experience by offering similar products that customers are interested in at the correct time.
Further, the growing competition among enterprisers, increasing implementation and investment on cloud-based services, and rising user base on social media platforms are some of the factors that are boosting the growth of the regional market. Moreover, organizations are concentrating on customer-centric services & products and enhancing the customer experience management as they are demanding better prices and services. Therefore, companies in this region are interested in implementing analytics software solutions coupled with deep learning technologies.
The Germany market dominated the Europe Healthcare & Pharmaceuticals Product Analytics Market by Country 2020, thereby, achieving a market value of $176.3 million by 2027. The UK market is exhibiting a CAGR of 19% during (2021 - 2027). Additionally, The France market is anticipated to witness a CAGR of 20.7% during (2021 - 2027).
Based on Component, the market is segmented into Solution and Services. Based on Vertical, the market is segmented into Retail & Consumer Goods, IT & Telecom, Healthcare & Pharmaceuticals, Automotive, Media & Entertainment, BFSI, Manufacturing and Others. Based on Enterprise Size, the market is segmented into Large Enterprises and Small & Medium Enterprise. Based on Deployment Type, the market is segmented into Cloud and On-premise. Based on End User, the market is segmented into Manufacturers, Sales & Marketing Professionals, Consumer Engagement and Designers. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Product Analytics Market Size will Hit $29.7 Billion by 2027, at a CAGR of 20%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, Oracle Corporation, Google, Inc., Salesforce.com, Inc., Adobe, Inc., Medallia, Inc., Gainsight, Inc., Veritone, Inc., Amplitude, Inc., and Pendo.Io, Inc.
By Component
By Vertical
By Enterprise Size
By Deployment Type
By End User
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