Marketing Analytics Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 6.31 Billion |
| Market Size (2029) | USD 11.54 Billion |
| CAGR (2024 - 2029) | 12.84 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Marketing Analytics Market Analysis
The Marketing Analytics Market size is estimated at USD 6.31 billion in 2024, and is expected to reach USD 11.54 billion by 2029, growing at a CAGR of 12.84% during the forecast period (2024-2029).
- Marketing analytics solutions allow the stakeholders, including social media marketers and SEO managers, to measure, manage, and analyze the performance of marketing campaigns on platforms such as Google AdWords and Facebook Ads, thereby helping them reach targets and minimize costs.
- Marketing analytics enables companies to understand their marketing campaigns' performance better and engage in comparative analysis to determine 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 popularity of cloud-based marketing analytics software has increased owing to benefits such as better functionality and cost-effectiveness. This has encouraged service providers like Oracle Corporation and Adobe Inc. to offer cloud analytics solutions to marketers.
- Real-time intelligence and predictive personalization, which are anticipated to be the most prodigious benefits of using marketing analytics solutions over the forecast period, were made possible by the development of artificial intelligence (AI) and machine learning (ML).
- Marketing analytics helps both marketers and consumers. The insights allow marketers to target good ROI on marketing investments by analyzing what strategies are conducive to conversions and brand awareness. Through this, consumers can see personalized ads catering to their needs and interests.
- Extensive data is available using marketing analytics software, which helps marketing teams analyze every customer click, impression, and view. However, a significant problem arises in the quality of the data, which needs to be improved, and the quality of the data is irrelevant if the firm's in-house team does not structure timely and allow them campaign insights. As per earlier research, much time is consumed in formatting the data, leaving less time for consumer insights analysis, hindering marketing analytics software's growth.
- The COVID-19 pandemic brought about a paradigm shift in the behavior of individuals in terms of using different digital platforms for buying. Advertising companies are increasingly following digital marketing techniques and are providing publishers with advanced advertising capabilities.
Marketing Analytics Market Trends
The Cloud-based Solutions Segment is Expected to Witness Growth
- Cloud computing technology is considered a powerhouse for market growth. Many large organizations deploy multiple marketing channels by leveraging extensive datasets. Cloud computing facilitates cost-effective data structuring using a marketing analytics platform. Cloud-based marketing analytics is growing in popularity, mainly due to its good functionality and cost-effectiveness. It allows Oracle Oracle Corporation and Adobe Inc. to offer cloud solutions to marketers.
- The demand for the cloud system management market is driven by the increasing usage of hybrid and multi-cloud architectures, allowing consistent building and operation across cloud, on-premises, and edge environments. The cloud has dramatically aided initiatives for digital optimization and transformation.
- Businesses invest in structured innovation programs to achieve growth objectives, react to market conditions, and carry out expedited digital transformation activities. For instance, Red Hat OpenShift, the industry-leading hybrid cloud container technology, was created by IBM. With Red Hat OpenShift, users can create and use cloud services from any cloud, anywhere.
- Banking and financial institutions can significantly benefit from on-demand scalable infrastructure services, adequate data and storage management, SDI-enabled private cloud infrastructure in pay-per-use models, AI-driven cloud management, and agile operations solutions that embrace their cloud adoption journey. According to data from Eurostat, 45% of enterprises in the European Union bought cloud services in 2023. Also, the most significant number of enterprises that bought various cloud computing services were in Finland (78.3%), followed by Sweden (71.6%) and Denmark (69.5%).
- Furthermore, cloud-based marketing analytics software further provides scalability and flexibility for data analysis, which boosts the market growth for this type of software. Combining artificial intelligence and cloud-based platforms can provide many techniques that facilitate multiple options to address challenges. These provide recommendations to business owners regarding marketing campaigns. Such features increase the adoption of digital marketing campaigns, which is expected to propel the market during the forecast period.
North America is Expected to Hold the Majority of Market Share
- Owing to innovations, North America is expected to dominate the marketing analytics market. Most major global vendors are based in the region. The increasing investment in marketing services and an enormous social media presence make the country a lucrative hub for the market.
- Factors such as the increasing adoption of SaaS cloud services, increasing demand for data integration services, and expanding 5G network coverage are expected to provide a massive scope for the region's market. In May 2023, Microsoft announced an investment of USD 13 billion in OpenAI and its early efforts to integrate AI technology into Bing's search engine and other products such as e-mail, Word, and Excel. Microsoft is rolling out a chatbot or Copilot that allows users to make sense of the information stored in corporate databases.
- The increasing demand for digital marketing and the growing need to integrate advanced technologies such as machine learning (natural language processing) and data cloud in marketing practices are dominant factors leveraging market growth in North America.
- The adoption of retail marketing analytics solutions in the United States is increasing as more retailers realize significant returns from using BI and analytics platforms and services. Major factors driving the retail marketing analytics market in the region are growing online shopping, social media utilization, consecutive increases in Big Data, and the proliferation of smartphones, which have made shopping easy for customers.
Marketing Analytics Industry Overview
The marketing analytics market is highly competitive and consists of several major players. Few big competitors now control most of the market in terms of market share. These players are concentrating on growing their international consumer base. Major players include IBM Corporation, Microsoft, and Oracle Corporation.
September 2023: Oracle expanded its cloud offerings to address customized needs and growing demand for Oracle Cloud Infrastructure (OCI) services. The newest offerings include Oracle Database@Azure and MySQL HeatWave Lakehouse on AWS. These provide the flexibility to use cloud services anywhere and ensure data privacy, low latency requirements, and access to more than 100 services without any constraints on the volume of workload.
September 2023: Salesforce and Google declared an expansion of the strategic partnership to integrate Salesfore’s #1 AI CRM and Google Workspace to enhance productivity with AI. This collaboration included the integration of Google Calendar, Docs, Meet, Gmail, and others to facilitate generative AI experiences across platforms.
Marketing Analytics Market Leaders
IBM Corporation
Microsoft Corporation
Oracle Corporation
Salesforce.Com Inc.
Accenture PLC
*Disclaimer: Major Players sorted in no particular order
Marketing Analytics Market News
- April 2024: Cloud Software Group Inc. and Microsoft Corp. announced boosting their collaboration with an eight-year strategic partnership agreement. This alliance will help in go-to-market collaboration for the Citrix® virtual application and desktop platform to design new cloud and AI solutions. The company will make a USD 65 billion commitment to Microsoft cloud and AI capabilities.
- February 2024: Accenture acquired GemSeek, a customer experience analytics provider that helps businesses with customer insights, AI-powered predictive models, and analytics. This will help clients grow their business and build relevance with customers.
- February 2023: Adobe declared a collaboration with Qualcomm to strengthen customer relationships with digital strategy. Qualcomm selected Adobe Experience Cloud, including Adobe Experience Platform (AEP), for tailored business-to-business (B2B) marketing. This will enable Qualcomm to deepen its customer relationship by allowing individuals to complete commerce transactions with the company.
Marketing Analytics Software Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness Porter's Five Force Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Consumers
4.2.3 Threat of New Entrants
4.2.4 Intensity of Competitive Rivalry
4.2.5 Threat of Substitutes
4.3 Industry Value Chain Analysis
4.4 Impact of COVID-19 on the Market
4.5 Technology Snapshot
5. MARKET DYNAMICS?
5.1 Market Drivers
5.1.1 Increase in Social Media Channels
5.1.2 Increasing Need to Utilize Marketing Budgets for an Effective ROI
5.1.3 Adoption of Cloud Technology and Big Data
5.2 Market Restraints
5.2.1 High Cost of Implementation and System Integration Issues for Marketing Analytics Software
5.2.2 Availability of Many Free Open Source Software
5.3 Technology Snapshot
6. MARKET SEGMENTATION
6.1 By Deployment
6.1.1 Cloud
6.1.2 On-premise
6.2 By Application
6.2.1 Online Marketing
6.2.2 E-mail Marketing
6.2.3 Content Marketing
6.2.4 Social Media Marketing
6.2.5 Other Applications
6.3 By End User
6.3.1 Retail
6.3.2 BFSI
6.3.3 Education
6.3.4 Healthcare
6.3.5 Manufactuing
6.3.6 Travel and Hospitality
6.3.7 Other End Users
6.4 By Geography
6.4.1 North America
6.4.2 Europe
6.4.3 Asia-Pacific
6.4.4 Latin America
6.4.5 Middle East and Africa
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 IBM Corporation
7.1.2 Microsoft Corporation
7.1.3 Oracle Corporation
7.1.4 Salesforce.Com Inc.
7.1.5 Accenture PLC
7.1.6 Adobe Systems Incorporated
7.1.7 SAS Institute Inc.
7.1.8 Teradata Corporation
7.1.9 Neustar Inc.
7.1.10 Pegasystems Inc.
7.1.11 Tableau Software
7.1.12 Google LLC
- *List Not Exhaustive
8. INVESTMENT ANALYSIS
9. MARKET OPPORTUNITIES AND FUTURE TRENDS
Marketing Analytics Industry Segmentation
Marketing analytics software aids a company in tracking the data pertaining to traffic, leads, and sales. Implementing marketing analytics enables the person of interest to compare different operating mediums, including social media, blogging, e-mail marketing, and others.
The marketing analytics market is segmented by deployment (cloud and on-premises), by application (online marketing, e-mail marketing, content marketing, and social media marketing), by end user (retail, BFSI, education, healthcare, manufacturing, travel, and hospitality), and by geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.
| By Deployment | |
| Cloud | |
| On-premise |
| By Application | |
| Online Marketing | |
| E-mail Marketing | |
| Content Marketing | |
| Social Media Marketing | |
| Other Applications |
| By End User | |
| Retail | |
| BFSI | |
| Education | |
| Healthcare | |
| Manufactuing | |
| Travel and Hospitality | |
| Other End Users |
| By Geography | |
| North America | |
| Europe | |
| Asia-Pacific | |
| Latin America | |
| Middle East and Africa |
Marketing Analytics Software Market Research FAQs
How big is the Marketing Analytics Market?
The Marketing Analytics Market size is expected to reach USD 6.31 billion in 2024 and grow at a CAGR of 12.84% to reach USD 11.54 billion by 2029.
What is the current Marketing Analytics Market size?
In 2024, the Marketing Analytics Market size is expected to reach USD 6.31 billion.
Who are the key players in Marketing Analytics Market?
IBM Corporation, Microsoft Corporation, Oracle Corporation, Salesforce.Com Inc. and Accenture PLC are the major companies operating in the Marketing Analytics Market.
Which is the fastest growing region in Marketing Analytics Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Marketing Analytics Market?
In 2024, the North America accounts for the largest market share in Marketing Analytics Market.
What years does this Marketing Analytics Market cover, and what was the market size in 2023?
In 2023, the Marketing Analytics Market size was estimated at USD 5.50 billion. The report covers the Marketing Analytics Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Marketing Analytics Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
ing Analytics Tools Industry Report
The business analytics market, specifically focusing on marketing data analytics, is predicted to experience substantial growth due to the escalating need for companies to quantify, manage, and scrutinize their marketing campaigns' performance. Digital marketing analytics solutions, such as Google AdWords and Facebook Ads, assist stakeholders in achieving their goals while reducing expenses. These tools also enable businesses to comprehend their marketing campaigns' performance and engage in comparative data analytics to identify which application yields the highest returns. The popularity of cloud-based marketing performance analytics software has risen due to its superior functionality and cost-effectiveness. However, the high cost of implementation and system integration issues are significant constraints that impede the growth of marketing strategy analytics software. Despite these challenges, the evolution of artificial intelligence (AI) and machine learning (ML) has made real-time intelligence and predictive personalization possible, which are expected to be the most significant benefits of using online marketing analytics solutions. For a more comprehensive analysis, a free PDF download of the full report is available, which includes web marketing analytics and social media marketing analytics.
