Marketing Analytics Software Market Size
|2019 - 2029
|Market Size (2024)
|USD 6.31 Billion
|Market Size (2029)
|USD 11.54 Billion
|CAGR (2024 - 2029)
|Fastest Growing Market
*Disclaimer: Major Players sorted in no particular order
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Marketing Analytics Software 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).
The 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 minimizing costs.
- The use of marketing analytics enables companies to better understand their marketing campaigns' performance 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 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, 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).
- The high cost of implementation and system integration issues are significant constraints that hinder the growth of marketing analytics software.
- The outbreak of the COVID-19 pandemic has brought about a paradigm shift in the behavior of individuals when it comes to using different digital platforms for buying. Advertising companies are increasingly following digital marketing techniques and are providing publishers with advanced advertising capabilities.
Marketing Analytics Software Market Trends
This section covers the major market trends shaping the Marketing Analytics Market according to our research experts:
Cloud-based to witness the growth
- Many SMEs favor using the cloud deployment strategy since it allows them to use marketing analytics tools without changing the current IT infrastructure. The cloud deployment methodology also enables companies to use public, private, or hybrid clouds depending on the needs of the marketing team.
- The demand for the cloud system management market is driven by the increasing usage of hybrid and multi-cloud architectures, allowing for consistent building and operation across cloud, on-premises, and edge environments. The cloud has dramatically aided initiatives for digital optimization and transformation.
- Further, 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 greatly benefit from the benefits of 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.
- Furthermore, cloud-based marketing analytics software further provides scalability and flexibility for data analysis, which boosts the market growth for this type of software.
North America to Hold Major Share
- With innovations, North America is expected to dominate the marketing automation software market. Most major global vendors are based in the region. The increasing marketing services investment and an enormous social media presence make the country a lucrative hub for the studied market.
- Moreover, some of the significant factors, such as the increasing adoption of SaaS cloud services, increasing the demand for data integration services, and expanding 5G network coverage, are estimated to provide a massive scope for the region's market under study.
- Further, the increasing demand for digital marketing and the increasing need to integrate advanced technologies such as Machine Learning (Natural Language Processing) and data cloud in marketing practices are some of the dominant factors leveraging the market growth in the North American region.
- The adoption of retail marketing analytics solutions in the United States increases 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 Software 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 significant market participants are concentrating on growing their consumer base internationally.
In March 2022, Microsoft Corp. announced the general release of Azure Health Data Services and improvements to Microsoft Cloud for Healthcare as advancements in cloud technology for healthcare and life sciences. With the recent closure of its acquisition of Nuance Communications, Microsoft is in a unique position to increase an organization's capacity to assist others by using trusted AI to address the most challenging problems and transform the future of healthcare for all.
Marketing Analytics Software Market Leaders
*Disclaimer: Major Players sorted in no particular order
Marketing Analytics Software Market News
- September 2022: Wipro Limited, a technology services and consulting company, partnered with CISCO to accelerate client cloud transformation. By utilizing Wipro FullStride Cloud Service to allow a completely automated hybrid-cloud stack, Wipro customers will be able to deploy the service more quickly and with a better user experience. This partnership will bring together the edge, private, and public clouds to create adaptable public cloud solutions.
- June 2022: Kyndrylan partnered with Oracle to help the business speed up its move to the cloud by providing managed cloud solutions to businesses worldwide. As part of the alliance, Kyndryl will become a key delivery partner for Oracle Cloud Infrastructure (OCI), expanding upon its deep experience of working with and supporting customers using Oracle products and services.
Marketing Analytics Software Market Report - Table of Contents
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
6.2 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
6.3.6 Travel and Hospitality
6.3.7 Other End Users
6.4 By Geography
6.4.1 North America
6.4.4 Latin America
6.4.5 Middle East & 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 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 5.59 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.