The Customer Intelligence (CI) solution has become a mandate across the industries. With customers being empowered by the mobile and accessibility to internet, there has been a change in the behaviour patterns and the influencer which helps them in purchasing any product or services. Increasing competition, lowering margins and the drive to know the customer more is urging enterprises to opt CI solution. The market, with the introduction of more real-time analysis feature, focuses more on ease of usage and also more of visualization features.
Large vendors, as a part of their expansion strategy, will continue to acquire small players in the market. Solutions on cloud will lower the total cost of ownership, which is encouraging enterprises to opt for these systems and become more competitive.
Enterprise should look to adopt these applications as implementation gives them the capability to respond better to the dynamic environment by analysing historic data and real time information about the market, which increases the overall flexibility and improves efficiency of the enterprises.
The Global Customer Intelligence market is expected to reach $4,892.0 million by 2020. The solution segment is expected to grow at a CAGR of 17.6%, whereas the services segment is expected to grow at a CAGR of 27.0%. The healthcare & life sciences vertical segment is expected to grow at a CAGR of 35.4% and is the fastest growing vertical among other verticals during the period 2015–2020.