According to a new report Global Marketing Analytics Software Market, published by KBV research, The Global Marketing Analytics Software Market size is expected to reach $6.8 billion by 2026, rising at a market growth of 16.9% CAGR during the forecast period.
The cloud deployment segment dominated the global market and had the largest revenue share in 2019. Numerous SMEs prefer implementing the cloud deployment model since it allows them to leverage marketing analytics software and this doesn’t require any changes to the prevailing IT infrastructure. Moreover, the cloud deployment model is helping organizations to use a private cloud, public cloud, or hybrid cloud depending on the requirement of the marketing team.
The SME segment had a significant revenue share in 2019 due to the increasing need to design more interactive marketing campaigns. The increasing popularity of social media and the adoption of cost-effective cloud-based analytics practices are encouraging SMEs to opt for economical marketing practices, therefore offering growth opportunities. Additionally, marketing analytics is helpful for marketers to improve their search capabilities by providing thorough insights into probable customers in a cost-effective manner. This in turn encouraging SMEs to improve data-driven marketing campaigns and they will offer services at a lower cost to their customers.
The consumer goods segment led the market in 2019. This can be accredited to the increasing demand amongst consumer goods companies as it helps them to identify and forecast consumer behavioral trends as well as product positioning efficiency. Consumer goods companies create abundant data regularly including consumer buying preferences and data pertaining to sales.
North America led the market in 2019 and accounted for a significant market share. This can be accredited to the increasing use of social media and the easy availability of high-speed internet services in this region. The increased use of social media is offering marketers a new and effective channel to engage in marketing and advertising practices. Moreover, a substantial e-commerce ecosystem offers marketers the lucrative opportunity to analyze the data produced by e-commerce sales in this region. The Europe market is showcasing a CAGR of 16.1% during (2020 - 2026). Additionally, The Asia Pacific market is poised to grow at a CAGR of 18.8% during (2020 - 2026).
Full Report: https://www.kbvresearch.com/marketing-analytics-software-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Adobe, Inc., Accenture PLC, IBM Corporation, Oracle Corporation, Wipro Limited, Experian PLC, Pegasystems, Inc., Teradata Corporation, Harte Hanks, Inc., and SAS Institute, Inc.
By Application
By Deployment Type
By Organization Size
By End User
By Geography
Companies Profiled
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