Dallas, TX -- (SBWIRE) -- 09/17/2014 -- The report "Multichannel Analytics Market by Solution (Query & Reporting, Multidimensional Analysis, Visualization, Data Mining and Predictive Analytics) & by Services (Professional Services, Support & Maintenance)- Worldwide Forecasts & Analysis (2014 – 2019)" defines and segments the market on the basis of solutions, services, deployment types, organization size and applications with in-depth analysis and forecasting of market size. It also identifies drivers and restraints for this market with insights on trends, opportunities, and challenges.

The multichannel analytics market is expected to grow from $3.61 billion in 2014 to $9.89 billion by 2019 at a Compound Annual Growth Rate (CAGR) of 22.3% from 2014 to 2019.

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Multichannel analytics has now evolved as a complete solution to answer the needs of today’s competitive marketing environment. Most of the online buyers are habitual of multichannel shopping. The consumer gathers the information about product they wish to buy from multiple resources. Here the key indicators are the cost, brand, reviews, benefits and reputation. This has not only expanded the scope of B2C marketing but also opens new opportunities for B2B prospects.

The multichannel analytics helps the business to dynamically organize the customer interaction data which is gathered via multiple channels into conceptual groups or clusters so that the emerging trends and patterns could be easily identified. These insights are derived from interactions occurring over different channels such as web, call center, mobile, mails, campaigns and many more.

MarketsandMarkets has broadly segmented the multichannel analytics market by
1. Solutions: such as query and reporting, multidimensional analysis, visualization and data mining and predictive analytics
2. Applications: customer retention and acquisition, cross-selling and up-selling, loyalty and customer experience management, campaign management, and sales and performance management.
3. Regions: North America (NA), Europe (EU), Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America (LA).

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The multichannel analytics market is expected to grow at a rapid pace in the regional market of NA. APAC is expected to show a potential growth due to the technological advancement and increasing e-commerce trend. MEA and LA markets are showing rapid adoption growth in terms of highest compound annual growth rate (CAGR) for overall forecasted period.

MarketsandMarkets forecasts the multichannel analytics market to grow from $3.61 billion in 2014 to $9.89 billion by 2019. In terms of regions, North America and Europe are expected to be the biggest markets in terms of revenue contribution, while Asia-Pacific, Middle East and Africa, and Latin America are expected to experience increased market traction, during the forecast period.

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