The global Service Analytics market size accrued earnings worth approximately USD 8.50 Billion in 2023 and is predicted to gain revenue of about USD 67.07 Billion by 2032, is set to record a CAGR of nearly 25.8% over the period from 2024 to 2032.
Zion Market Research has published a new report titled “Service Analytics Market By Business Application (Customer Service Analytics, Field Service Analytics, and IT Service Analytics), By Component (Solution and Services), By Deployment Mode (On-Premises and Cloud), and By Vertical (Banking, Financial Services, and Insurance (BFSI), Energy and Utility, Government, Healthcare and Life Sciences, Retail and Wholesale, Manufacturing, Media and Entertainment, Transportation and Logistics, Travel and Hospitality, and Others): Global Industry Perspective, Comprehensive Analysis, And Forecast, 2024 – 2032”.
Service analytics is known for creating smarter managers, productive agents, and importantly delighted customers. With service analytics solutions, it is easier to drill into customer’s profile, update case history, and directly collaborate with the team from the service cloud console.
The global service analytics market is likely to gain momentum in the future, as many business sectors are seeking to improve their businesses by moving from on-premises to cloud-based services. Changing the landscape of business intelligence and big data and the increase in social media awareness among consumers is anticipated to further drive the service analytics market. However, the lack of a skilled workforce, data security, and privacy concerns might hamper the service analytics market globally.
The global service analytics market is divided based on business application, component, deployment mode, and vertical. The business application is classified into customer service analytics, field service analytics, and IT service analytics. By component, this market is bifurcated into solution and services. The solution segment is estimated to lead the market and the services segment is projected to grow at a faster rate over the forecast time period. The vertical segment includes banking, financial services, and insurance (BFSI), energy and utility, government, healthcare, and life sciences, retail and wholesale, manufacturing, media and entertainment, transportation and logistics, travel and hospitality, and others. The retail and wholesale industry is anticipated to hold a substantial in the future. Companies operating in the retail and wholesale industry depend on historical data to study customer buying behavior, which helps in better understanding the customers’ requirements. The service data generated helps in preventing future breakdowns. Moreover, the deployment of service analytics over the cloud helps in minimizing costs, providing scalability, improving agility, and overcoming challenges.
Geographically, North America is expected to hold a substantial share in the global service analytics market owing to the presence of renowned market players. The Asia Pacific is anticipated to the highest growth rate and be the third largest service analytics market over the forecast time period. This can be attributed to the growing inclination of service analytics solutions among small-and medium-enterprises in China, India, and Australia. Moreover, Asia Pacific is witnessing a rise in the adoption of service analytics solutions across major industries.
Prominent players of the global service analytics market include
- Agile CRM
- Aureus Analytics
- BlueFletch
- Centina Systems
- ClickSoftware Technologies
- Datahero, Inc.
- Field Squared
- Helpshift
- iCharts
- Microsoft Corporation
- Microstrategy Incorporated
- Mobi
- Numerify, Inc.
- Oracle
- Paskon, Inc.
- Salesforce.com, Inc.
- SAP SE
- SAS Institute
- Servicenow, Inc.
- Sisense
- and Tableau Software, among others.
This report segments the global service analytics market into:
Global Service Analytics Market: By Business Application
- Customer Service Analytics
- Field Service Analytics
- IT Service Analytics
Global Service Analytics Market: By Component
- Solution
- ServicesConsulting ServicesManaged ServicesSupport and Maintenance Services
Global Service Analytics Market: By Deployment Mode
- On-Premises
- Cloud
Global Service Analytics Market: By Vertical
- Banking, Financial Services, and Insurance (BFSI)
- Energy and Utility
- Government
- Healthcare and Life Sciences
- Retail and Wholesale
- Manufacturing
- Media and Entertainment
- Transportation and Logistics
- Travel and Hospitality
- Others
Global Service Analytics Market: By Region
- North AmericaThe U.S.
- EuropeUKFranceGermany
- Asia PacificChinaJapanIndia
- Latin AmericaBrazil
- The Middle East and Africa
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