Market Size of US Industrying Analytics Market
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 4.66 Billion |
| Market Size (2029) | USD 8.48 Billion |
| CAGR (2024 - 2029) | > 12.73 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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US Marketing Analytics Market Analysis
The US Marketing Analytics Market size is estimated at USD 4.66 billion in 2024, and is expected to reach USD 8.48 billion by 2029, growing at a CAGR of greater than 12.73% during the forecast period (2024-2029).
Companies increasingly realize the benefits of analytics in retaining customers and staying competitive. Businesses use multiple channels to keep customers informed and connected, and analytics solutions help track the impact of these actions. This has led to integrating analytics solutions with existing ERP systems, utilizing the generated data for better decision-making.
- Large businesses use web analytics and digital marketing tools to achieve an effective return on investment (ROI) and improve performance. Social media platforms also encourage marketers to invest in online marketing data analysis by monitoring, enhancing, and benchmarking their social media performance.
- The adoption of cloud technology and Big Data is also contributing to the growth of the marketing analytics market in the US. Cloud-based analytical tools are preferred as they are web-based, making hardware or software installation unnecessary. Advanced visualization techniques are being used to create comprehensive and user-friendly dashboards.
- In May 2023, Microsoft has announced Investment in AI Chatbots are finding their way into data analysis of USD 13 billion investment in OpenAI and its early efforts to integrate AI technology into Bing's search engine and other products such as email, word and excel, and Microsoft is rolling out a chatbot or Copilot that allows users to make sense of the information stored in corporate databases.
- The retail industry is a significant user of marketing analytics, particularly with the shift towards digital transformation and innovative store operations technologies. The need for actionable data is crucial in reducing asset loss at checkout, which can positively impact revenue and customer experience.
- In May 2022, Deep North, an intelligent video analytics company, launched Checkout IQ, its new retail loss prevention solution, to combat this issue. The solution uses computer vision and artificial intelligence (AI) to reduce shrinkage at checkout, empowering retailers with data-driven tools to remain competitive, maximize revenue, and offer great customer experiences. Deep North also announced a USD 16.7 Million Series A-1 funding, led by Celesta Capital and YobiPartners.
