The global Marketing Analytics Software market size was valued at US$ 2.74 billion in 2020 and is anticipated to grow at a CAGR of 14.10% during forecast period 2021 to 2028.
The continuous need to penetrate the market more effectively and understand consumer demands is expected to encourage organizations and institutions to adopt marketing analytics tools and solutions. The use of marketing analytics enables companies to understand the performance of their marketing campaigns better and engage in comparative analysis as to which application offers the highest returns. This is done by gauging critical business metrics, such as marketing attribution, overall marketing effectiveness, and Return on Investment (ROI).
The rapid penetration of social media platforms has also offered growth opportunities to market players. Facebook and Instagram are two of the most used social media platforms worldwide that offer marketers new channels to advertise their products. Social media platforms gather a large amount of user data, such as audience demographics and demands, which can be effectively utilized to understand consumer buying preferences and offer products, services, and solutions according to their needs. Several SMEs such as Zulily, LLC and RealEats and large enterprises such as TGI Fridays Franchisor, LLC and Subway IP LLC have used marketing analytics solutions, which have helped the companies enhance their product offerings and improve business operations.
Organizations are continuously undertaking various measures to optimize their marketing investment, which is spent in different marketing campaigns. Big data analytics has facilitated the growth of the market as it helps in analyzing customer loyalty, marketing performance, and consumer engagement. The popularity of the Marketing Mix Model (MMM) is fueling the market growth due to the technology's ability to help organizations estimate spending on different advertising channels and their effectiveness. This has resulted in a rising demand to upskill marketers or hire technically qualified marketers responsible for incremental market growth.
The social media marketing segment accounted for the largest revenue share of over 30.03% in 2020. This can be attributed to the high usage of social media platforms in developing economies, such as India, Indonesia, and Brazil. The availability of affordable internet packages has aided the internet to reach places that were earlier inaccessible, which is enabling marketers to identify people's needs and device suitable marketing campaigns. Social media marketing also enables marketing teams to improve customer relations and monitor competition more efficiently by carefully analyzing consumer engagement trends. This is promoting the wide-scale adoption of social media marketing practices.
The e-mail marketing segment accounted for a significant revenue share in 2020. This can be attributed to factors, such as effectiveness in reaching more people directly and the ability to form deeper relations. Even though social media marketing offers detailed audience data, 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.
The cloud deployment segment accounted for the largest revenue share of over 73.04% in 2020. 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.
The on-premise segment accounted for a significant revenue share in 2020 owing to higher security and control offered by on-premise datacenters. The on-premise deployment of marketing analytics software improves data accessibility for marketing teams, thereby helping to fit the results according to end users. Deploying an on-premise analytics platform encourages companies to hire specialized talent, thus ensuring that the output is of high quality. Additionally, the on-premise deployment model helps users customize their software according to the needs and requirements of their marketing teams, thus enabling them to get the desired result.
The large enterprises segment accounted for the largest revenue share of over 76.0% in 2020. Large enterprises indulge in exhaustive marketing practices and run different marketing campaigns. Online and offline campaigns run by brands and agencies across various channels generate large amounts of data pertaining to consumer behavior data, ad effectiveness, and audience preferences. The use of marketing analytics software helps marketers gain useful insights from this data, make necessary changes to their marketing campaigns, track revenue growth, and enhance service offerings.
The SMEs segment accounted for a significant revenue share in 2020 owing to the rising need to design more interactive and better marketing campaigns. The growing popularity of social media and the ability to indulge in cost-effective cloud-based analytics practices are encouraging SMEs to engage in cost-effective marketing practices, thus offering growth opportunities. Furthermore, marketing analytics improves marketers’ search capabilities by providing detailed insights about prospective customers in a cost-effective manner. These insights encourage SMEs to develop data-driven marketing campaigns and offer services at more affordable rates to their customers.
The consumer goods segment dominated the market in 2020 with a revenue share of over 26.0%. This can be attributed to the rising demand amongst consumer goods companies to identify and predict consumer behavioral trends and product positioning efficiency. Consumer goods companies generate copious amounts of data regularly, which includes data pertaining to sales and consumer buying preferences. This data is analyzed to determine the efficiency of marketing campaigns and then designing a marketing strategy that churns maximum profits and improves business efficiency.
The media and communication segment accounted for a significant revenue share in 2020 owing to the rise in the adoption of smart devices and connected ecosystems, which has resulted in the creation of a demanding customer base. Marketers in the media and communication sector need to understand the nature of audience interaction and the type of content across various screens and channels.
North America dominated the market in 2020 and accounted for a revenue share of over 46.04%. This can be attributed to the trend of high social media usage and the availability of high-speed internet services in the region. The high usage of social media offers marketers a new and efficient channel to engage in advertising and marketing practices. 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.
Asia Pacific accounted for a significant revenue share in 2020. This can be attributed to the vital AI development hubs in Singapore, Vietnam, and Malaysia. The emergence of new startups that offer AI-enabled analytics services is also driving the regional market. Additionally, the rapid implementation of digital government initiatives in Singapore and China has led to the emergence of several startups that offer services based on analytics and other advanced technologies, offering an impetus to the regional market growth.
Social Media Marketing
Search Engine Marketing
Organization Size Outlook
Industry Vertical Outlook
Media & Communication
The Marketing Analytics Software market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Marketing Analytics Software market for the base year 2020 and the forecast between 2021 and 2028. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Marketing Analytics Software market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Marketing Analytics Software market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Marketing Analytics Software market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Marketing Analytics Software capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Marketing Analytics Software by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Marketing Analytics Software market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2028. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Marketing Analytics Software market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Marketing Analytics Software market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Marketing Analytics Software industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Marketing Analytics Software market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Marketing Analytics Software market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Marketing Analytics Software market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Marketing Analytics Software market. These factors have benefited the growth of the global market for Marketing Analytics Software. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Marketing Analytics Software. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Marketing Analytics Software are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
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