Global Service Analytics Market – Size, Outlook, Trends and Forecast (2024 – 2032)

Service analytics is the process of capturing, processing, and analysing the data produced from the performance of a service system to improve, extend, and personalize service to create value for both providers and customers. Global service analytics market size was valued at $0.43 billion in 2017 and is estimated to reach $1.27 billion by 2025 with the CAGR of 14.23% during 2019-2025. The key factors propelling the growth of service analytics market are increasing competition to drive more data, need for better client & customer interaction, emerging of many new players, low cost for organisations, constraints of resources, optimisation of budget, control & agility and tailored solutions to business needs. Whereas scarcity of knowledge on service analytics, expired IT infrastructure, low returns on investments, lack of strategies of big data, mergers and integration of data sources and inefficient data management are hindering the market growth. Growth in the adoption rate of analytics in SMEs and existing of AI powered customer services are the future drivers expected to enhance the market growth.

Research Study Objectives:

• Define, estimate, and forecast the service analytics market statistics by component, deployment mode, organisation size, application, end users and regions concerning the individual growth drivers, market trends and their contribution toward the service analytics market growth.
• Provides comprehensive information regarding the key factors influencing the market growth (drivers, restraints & challenges, and opportunities)
• Estimate & forecast the market size of all the segments concerning geographies including North America, Europe, Asia Pacific (APAC), South America and the Middle East and Africa (MEA).
• Recent competitive developments including M&A (mergers and acquisitions), partnerships, and product innovations are provided in the service analytics market analysis report.
• Analysis and conclusions on the future service analytics market outlook.

Top-down and bottom-up approaches are used to validate the service analytics market size and are used to estimate the size of other dependent submarkets. Key players in the market are identified through various secondary sources; databases including Bloomberg Businessweek, Hoovers, Factiva, journals and associations and the market revenues are estimated and are thoroughly validated through primary and secondary research. Secondary research involves the study of annual and financial reports of top players in the market, whereas primary research includes extensive interviews with the KoL’s such as CEOs, directors, board members, VP’s, sales managers, engineers, marketing executives, technicians, account managers, investors, strategic decision makers and others. The service analytics market shares and breakdowns are determined using secondary sources and are verified by the primary sources. All possible parameters/factors that are affecting the service analytics market demand are covered in the research study are verified through primary research, analysed and interpreted to get the final qualitative and quantitative data. This data is collected and added with detailed analysis from Envision Inteligence and presented in this report.

The scope of the Report

The service analytics market segmentation is as follows:

By Component

• Solution
• Services
  • Managed Services
  • Professional Services
    • Support and Maintenance
    • Consulting

By Deployment Mode

• Cloud
  • Public Cloud
  • Private Cloud
  • Hybrid Cloud
• On Premises

By Organisation Size

• Small and Medium Enterprises
• Large Enterprises

By Application

• Field Service Analytics
• Customer Service Analytics
• IT Service Analytics

By End Users

• Banking, Financial Service, Insurance (BFSI)
• Retail & Ecommerce
• Healthcare
• Government & Defense
• Telecommunications & IT
• Manufacturing
• Energy & Utilities
• Others

Geographical Analysis:

Service analytics market is segmented by geography into North America, South America, Europe, Asia Pacific and Middle East & Africa. U.S., Canada, Mexico and Costa Rica are analysed under North American region which is usually turning as the hotspot in the market. The South American region is further segregated into Brazil, Argentina, Chile, Columbia and some other emerging economies. In Europe, the market is extensively examined by covering U.K., Germany, France, Italy, Spain, Netherlands, Poland, Switzerland and some other promising economies. The Asia Pacific is further categorised by countries into China, India, Japan, South Korea, Australia & New Zealand, Malaysia, Singapore and many other emerging nations. In the Middle East & African region, Saudi Arabia, UAE, Iran, Iraq, Qatar, South Africa, Algeria, Morocco, Nigeria and so on countries are evaluated to understand the market growth lucidly.

Customization Options:

With the given research report, Envision Inteligence offers customisations as per the client’s specific requirements. The following customisation options offered for the service analytics market include:

• Scope Revision
• Geographic Analysis
• Company Profiles
• Historical Data & Forecasting
• Key Contact Persons in companies

Global Service Analytics Market Research Report Includes:

• An executive summary condensing the whole report such that essential authority can rapidly twist up doubtlessly acquainted with brief overview and conclusion.
• To have a complete market analysis through industry value chain analysis, Porter’s Five Force Model, PESTLE, SWOT analysis, and Y-o-Y analysis.
• Regional and global diversity is analysed with the major countries and the unions. Scrutinizing the revenue generation on Year-On-Year
• Identifying DROC in the current market and their impact on altering market dynamics.
• Competitive landscape analysis to identify the merger and acquisition which will have a comparative financial study with significant competitors.
• Expertise investment opportunities by an analyst to the individual and organisation to have a better foothold in the market.
• Identify the latest developments, market shares and strategies that are employed by the significant service analytics, such as
  • SAP SE
  • com, Inc.
  • SAS Institute Inc.
  • Microsoft Corporation
  • Oracle Corporation

Along with these companies, many other companies are considered in the report while analysing the global service analytics market competitive strategies and environment. These companies held substantial share-owning to the nature of the industry whereas, the rest of the market shares are marginal chunks to regional and local level manufacturers. Other players also have considerable presence owing to its robust brand image, geographical reach and stable customer base.