United States/WA: Marketing Analytics Software Market Will Boom In Near Future
Report Pages:[130 Pages]
Marketing Analytics Software Market, By Application (Online Marketing, E-mail Marketing, Cloud Marketing, Content Marketing, and Social Media Marketing), By Deployment (Cloud-based and On-premises), By End Users (Retail, Banking Financial Insurance (BFSI), Healthcare, Education, and E-commerce), and By Region – Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018-2026.
Market Overview:
Marketing analytics software is simply a method for businesses to obtain an overall overview of how their marketing strategies are performing. Some software is more suited towards long-term tracking. Others are suited for quick evaluation. There are several different marketing analytics software platforms on the market today, but the most popular include Google Analytics, Adobe Analytics, and Microsoft Dynamics GP. Google AdSense is one of the largest programs in this space and serves as a huge free tool for all kinds of advertisers. However, it does not provide any in-depth reporting, and many webmasters are frustrated by its limited abilities. On the other hand, there are many great paid marketing analytics platforms, many of which provide excellent customizations to suit the preferences.
Competitive Landscape:
Major players operating in the global marketing analytics software market include Experian, Pegasystems, Harte Hank, Teradata, SAS Institute, Wipro Corporation, Adobe Systems, IBM, Oracle, and Accenture.
Key Market Drivers:
Increasing strategies by key market players in the world is the main factor that is expected to augment the growth of the global marketing analytics software market. For instance, in June 2018, Microsoft signed a memorandum of understanding with New Sales Wales to experiment with a major data science project, which is based on procurement analytics. Some of these analytics platforms provide extremely detailed information about clicks, impressions, and the actual conversion rate of the ads or websites, including data on where visitors came in from, how they got there, and where they left off. While some marketers may focus their attention primarily on ad quality, such an approach can miss a host of important factors that directly impact an ad’s success. Marketing analytics platforms, like for calculations and ad grouping and targeting options, allow users to focus on what actually makes or breaks a campaign. Increasing service launches by key market players are expected to enhance the growth of the global marketing analytics software market.
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Covid-19 Impact Analysis:
Increasing cases of COVID positive cases in the world have affected the growth of the global marketing analytics software market, along with the travel restrictions and national lockdown measures in several regions.
Key Takeaways:
- The size of the global marketing analytics software market was assessed at around US$ 2.13 billion in 2020 and increasing at a CAGR of 14% is projected to reach around US$ 4.68 billion by the year 2026, wooing to increasing investment in the global IT and software sector. For instance, according to the International Association of Computer Science and Information Technology, the value of the global information technology sector is assessed at around US$ 5 trillion in the year 2023.
- North America is expected to hold a major share of the global marketing analytics software market, owing to the increasing prevalence of software and IT companies in the region. For instance, according to CompTIA, there is over 525,000 software and IT services companies in the United States.
- Asia Pacific is estimated to witness high growth of the global marketing analytics software market, owing to the increasing investment in the IT sector in the developing regions. For instance, according to India Brand Equity Foundation, the export revenue in the Indian sector in the year 2023 was around US$ 150 billion.
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