A recent report published by Infinium Global Research on marketing analytics software market provides in-depth analysis of segments and sub-segments in the global as well as regional marketing analytics software market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional marketing analytics software market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global marketing analytics software market. According to the report, the global market for Marketing Analytics Software was sized over USD 2 billion in 2020 and is expected to be more than USD 5 billion by 2026, growing with a CAGR of 16% over 2020-2026.
Marketing analytics software is
used to measure, manage and analyze marketing performance to maximize its
effectiveness and optimize return on investment. Marketing analytics software
allows marketers to be more effective at their jobs and reduce wasted web
marketing costs. This software also gives marketers amazing insight into their
marketing campaigns. It helps to justify to the manager and company’s top
executive that the time and effort the user putting into various marketing
channels are delivering results.
An increase in Social Media
Channels is driving the demand for the marketing analytics software market.
Social media marketing is still a relatively new tactic for numerous marketers.
Marketing analytics software helps to understand how large social media
audience is, how fast it’s growing, how much traffic social media drives, and
how many leads or customers the company is generating from that traffic.
Moreover, the emergence of advanced big data analytic tools and advancements in
technologies are boosting the market. Big data analytics tool helps
organizations to find business insight, improves promotions, and increases
efficiency. Marketing analytics helps market players to anticipate customer and
market behavior and respond proactively. Marketing analytics enable
organizations to explore how customers in defined segments behave differently
and even predict customers’ likelihood to respond to different offers.
The major restraining factor for
the marketing analytics software market is the high deployment cost of
marketing analytics software. The surge in the adoption of cloud-based
technology is providing the growth of the market. The recent outbreak of COVID-19 has pushed
organizations across the world to undertake all necessary steps to ensure the
safety of their employees and the community. Numerous conferences, marketing
events, and product launches are hung in the mid owing to the global crisis and
lockdown situation. Conversely, since marketing is the magic wand for several
companies, it is showing its wonders through online platforms. This is
subsequently anticipated to drive the demand for marketing analytics software.
Geographically, the North American region accounted for the largest market share for marketing analytics software. The North American region is well-known as the major adopter of innovative technologies such as big data analytics, IoT, and BI tools. The Asia Pacific and European regions have the fastest-growing market for the marketing analytics software. The rising adoption of cloud-based enterprise applications as well as increasing technological advancement is influencing the market growth in the Asia Pacific and Europe regions. Additionally, the growing amount of data, investments in the marketing and increasing penetration of the internet is driving the market growth.
Segment Covered
The report on global marketing
analytics software market covers segments such as deployment, application, and
end user. On the basis of deployment, the sub-markets include cloud, and
on-premise. On the basis of application, the sub-markets include online
marketing, e-mail marketing, content marketing, social media marketing, and
other applications. On the basis of end user, the sub-markets include consumer
goods, industrial, media & communication, healthcare, retail, BFSI, and
others.
The report provides profiles of
the companies in the market such as Microsoft Corporation, Oracle Corporation,
IBM Corporation, Salesforce.Com Inc., Accenture PLC, Adobe Systems
Incorporated, Neustar, Inc., Pegasystems Inc., SAS Institute Inc., and Teradata
Corporation.
The report provides deep insights
into the demand forecasts, market trends, and micro and macro indicators. In
addition, this report provides insights into the factors that are driving and
restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis
given in the report brings an insight into the investment areas that existing
or new market players can consider. The report provides insights into the
market using analytical tools such as Porter's five forces analysis and DRO
analysis of the marketing analytics software market. Moreover, the study highlights
current market trends and provides forecast from 2020-2026. We also have
highlighted future trends in the market that will affect the demand during the
forecast period. Moreover, the competitive analysis given in each regional
market brings an insight into the market share of the leading players.