The global marketing analytics market size was valued at USD 2.94 Billion in 2022 and is estimated to reach USD 8.05 Billion by 2031 expanding at a robust CAGR of 11.84% during the forecast period, 2023-2031. The growth of the market is attributed to the increasing adoption of big data and cloud technology.
These days companies use various channels to stay connected with the customers and keep them updated. Analytical solutions allow them to keep the record of the measure taken. By the year 2017, many giant tech companies such as Google, Oracle, Sales force, Adobe included more data sources to their growing market potential. The trend particularly got its limelight as business of all sizes works towards lessening the complexity form of data collection, cleansing and usage throughout the organization.
Marketing Analytics Market Trends, Drivers, Restraints, and Opportunities
- Marketing budget is to be utilized in a proper and an effective manner as it is one of the major factor in return on investments.
- Rapid adoption in the technologies such as big data and cloud technologies can reduce the expenses into several folds which is estimated to drive the market.
- High cost involved in the implementation and integrations system is anticipated to hamper the market growth.
- Information publically available about the open source software act as the major factor hindering the market growth.
Scope of Marketing Analytics Market
The report on the global marketing analytics market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Marketing Analytics Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Deployments (Cloud and On-premises), Applications (Online Marketing, Content Marketing, E-mail Marketing, and Others), End-users (Retail, BFSI, Healthcare, Education, Manufacturing, Travelling & Hospitality, and Others )
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Regional Scope
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Asia Pacific, North America, Europe, Latin America, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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IBM Corporation; Microsoft Corporation; Oracle Corporation; Salesforce.Com Inc.; SAS Institute Inc.
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Marketing Analytics Market Segment Insights
Cloud segment is anticipated to exhibit a high CAGR
On the basis of deployment, the market is bifurcated into cloud and on-premises. The cloud segment is anticipated to expand at a high CAGR during the forecast period due to declining the complexity in the data collection, IT sector shifted towards adoption of cloud technologies, leading to the growth of the segment.
Content marketing segment is estimated to register a substantial growth
Based on the application, the market is fragmented into online marketing, content marketing, e-mail marketing, and others. The content marketing segment is expected to hold a key share of the market owing to organization focusing more in the content as they indirectly communicate with the users and also one of the major factor to retain existing customers and to gain new ones. However e-mail marketing segment is anticipated to increase at a significant pace due to rising number of spam mail.
Healthcare segment is projected to expand more rapidly
In terms of end-user, the market is categorized into retails, BFSI, healthcare, education, manufacturing, travelling & hospitality, and others. The healthcare segment is expected to account for the major market share owing to due to COVID-19 outbreak involves in the realization in development of better and effective healthcare facilities. Moreover, the travelling & hospitality segment is projected to expand at a substantial pace during the forecast period owing to the expectation of the third wave of COVID-19.
Regional Analysis
On the basis of regions, the market is classified as Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America is anticipated to dominate the market in the coming years due to presence of major players in the region such as ubiquity incurred investment in machine learning (ML), artificial intelligence (AI), and natural language processing (NLP). However Asia Pacific is expected to exhibit a rapid growth rate in the projected timeline owning to several investments made in IT industries and adoption of several advance technologies.
Segments
The marketing analytics market has been differentiated on the basis of
Deployments
Applications
- Online Marketing
- Content Marketing
- E-mail Marketing
- Others
End- users
- Retails
- BFSI
- Healthcare
- Education
- Manufacturing
- Travelling & Hospitality
- Others
Regions
- Asia Pacific
- North America
- Europe
- Latin America
- Middle East & Africa
Key Players
Competitive Landscape
Key players competing in the Marketing Analytics Market include IBM Corporation; Microsoft Corporation; Oracle Corporation; Salesforce.Com Inc.; SAS Institute Inc. Some of these players are targeting on business strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares. For instance,
- In May 2020, CEO Arvind Krishna announced the launch of AI for IT. AI for IT are the capabilities that give every CIO and technologist the ability to automate their IT infrastructure which helps in reducing cost and be more resilient.
- In September 2021, Microsoft has launched the surface pro 8 as its most powerful surface pro device ever.
- In September 2021, Oracle announced a new SAAS based payroll solution that help organizations, commencing with intergovernmental and nongovernmental organizations direct the complex pay rules and regulations to efficiently pay any employee, anywhere, in any currency.
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