Marketing Analytics Market is expected to grow at a CAGR of around 14% from 2022-2028
According to a new report published by UnivDatos Markets Insights, the Marketing Analytics Market is expected to grow at a CAGR of around 14% from 2022-2028. The analysis has been segmented into Deployment (On-Premises and Cloud); Application (Social Media Marketing, E-Mail Marketing, Search Engine Marketing, Content Marketing, and Others); Region/Country.
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The Marketing Analytics Market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Marketing Analytics Market. The marketing analytics market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the marketing analytics market at the global and regional levels.
Market Overview
Marketing analytics software encompasses tools and processes which enable an organization to manage, evaluate, and control its marketing efforts by measuring marketing performance. In short, these solutions simplify and optimize a business’s marketing strategies and activities. With the use of marketing analytics software, businesses are able to improve their return on investment (ROI) by identifying effective marketing methods and adjusting campaigns to maximize conversions and sales.
The growing adoption of marketing analytics software is attributed to the growing need for organizations to penetrate the market more effectively and the complexities involved in understanding consumer demands. Moreover, the use of marketing analytics enables companies to understand the performance of their marketing campaigns better and engage in the comparative analysis as to which application offers the highest returns.
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Some of the major players operating in the market include Accenture Plc, Adobe Inc, Google Inc, Funnel, IBM Corporation, Oracle Corporation, RTB Digital Media Corporation, SAS Institute Inc, Tableau Software LLC, and Teradata Corporation.
COVID-19 Impact
The recent covid-19 pandemic has disrupted the world and has brought a state of shock to the global economy. The global pandemic has impacted the IT industry significantly. Due to covid, the governments were forced to implement social distancing and lockdowns. As the majority of the world’s population went under lockdowns, internet consumption skyrocketed, thus, giving advertisers an opportunity to analyze a huge amount of data.
The global marketing analytics market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
· Based on deployment, the market is segmented into on-premises and cloud. The cloud segment is expected to grow significantly during the forecast period. Cloud implementation is very cost-effective. Moreover, Several SMEs prefer adopting the cloud deployment model as it enables them to leverage marketing analytics software without making changes to the existing IT infrastructure. Furthermore, applications implemented on the cloud are accessible from anywhere.
· Based on application, the market is segmented into social media marketing, e-mail marketing, search engine marketing, content marketing, and others. During the forecast period, the e-mail marketing segment is expected to grow significantly. This is mainly attributed to various factors such as the wide reach of emails. Moreover, e-mail marketing is ideal for B2B sales as emails are mainly used as a business tool around the world. e-mail marketing offers a higher conversion ratio as different advertising campaigns can be planned according to different groups of people. People usually subscribe to their preferred brands’ e-mail lists, which offers marketers the opportunity to improve engagement rate, brand awareness, and revenue generated by marketing activities.
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Marketing Analytics Market Geographical Segmentation Includes:
· North America (United States, Canada, and Rest of North America)
· Europe (Germany, United Kingdom, Spain, Italy, France, and the Rest of Europe)
· Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific)
· Rest of the World
In 2020, the North American market is expected to grow with a larger CAGR during the forecast period. This is mainly attributed to the growing use of social media use coupled with the increasing internet penetration in countries such as America and Canada. Furthermore, a significant e-commerce ecosystem in the region offers marketers the opportunity to analyze the data generated by e-commerce sales, thus offering insights regarding customer buying preferences, which helps design efficient marketing strategies. Moreover, the growing use of machine learning (ML), natural language processing (NLP), and artificial intelligence (AI) have further enhanced the capabilities of marketing analytics in this region. The use of qualitative analytics and such advanced analytics tools is currently limited to large enterprises, as they are costlier solutions and demand huge resources and capital investment.
The major players targeting the market include
· Accenture Plc
· Adobe Inc
· Google Inc
· Funnel
· IBM Corporation
· Oracle Corporation
· RTB Digital Media Corporation
· SAS Institute Inc
· Tableau Software LLC
· Teradata Corporation
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Marketing Analytics Market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
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Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the Marketing Analytics Market?
• Which factors are influencing the marketing analytics market over the forecast period?
• What are the global challenges, threats, and risks in the marketing analytics market?
• Which factors are propelling and restraining the marketing analytics market?
• What are the demanding global regions of the marketing analytics market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?
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