The global digital marketing analytics market stood at US$ 4.2 Bn in the year 2021 and is expected to reach US$ 27.2 Bn by the year 2031 at a remarkable CAGR of 20.5% between 2021 and 2031.
Digital marketing enables collection of data of enterprise business through various online channels. These analytical tools are of utmost use when it comes to reviewing real time data, providing information on traffic sources, and supplying keyword used in the market plans.
Cloud-based analytical tools are preferred as they happen to be web-based apps. As such, there is no need for installation of hardware or software. Plus, there are advanced visualization techniques being floated with comprehensive dashboards, which makes the solutions more accessible, comprehensive, and simple to operate.
Huge enterprises go for digital marketing and web analytics solutions to obtain better performance. The social media platforms are also compelling the marketers to give a thought about investments in online marketing data analysis. The software does track, optimize, and benchmark the performance of social media across every platform.
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At the same time, the fact that there is lack on the part of data integrity with cross platforms may restrain the digital marketing analytics market in the forecast period. Another challenge faced is that of dearth of transparency in the sourcing of data along with gap in data owing to improper governance. These things need to be fixed, so as to take advantages of digital marketing analytics market.
Future Market Insights has walked through these nitty-gritties with insights in its latest market study entitled ‘Digital marketing Analytics Market’. Its holistic team of analysts and consultants is there to execute the things, with both – micros and macros in place and bottom-up approach to look into.
Key Takeaways from Digital Marketing Analytics Market
- North America holds the largest market share due to Canada extensively investing in online marketing data analysis solutions. The country is also home to well-equipped e-Commerce ecosystem that is pressing enterprises to go for digital marketing analytics solutions for evaluating data generated by the e-Commerce transactions, thereby obtaining insights with regards to customers’ purchasing habits, so that proper marketing campaigns could be organized.
- Coming to Europe, France is ruling the roost and the scenario is expected to persist even in the forecast period. This could be reasoned with quick adoption of cloud-based marketing analytics services and software in France.
- India is leading the market for digital marketing analytics in the Asia-Pacific. This could be credited to government propagating digitization and enhanced performance via integrating advanced technologies.
Competitive Landscape
- Alteryx, in July 2020, did announce that it had entered into partnership with Adobe for providing the marketers access to novel analytics as well as data science solutions via Adobe Exchange.
- Adobe Systems is emphasizing on partnering and collaborating with several analytic process automation (APA) solution providers for enhancing the product offerings and customer base. Moreover, the strategy does help in offering more innovation for empowering companies for connecting with customers.
“There has been an ever-increasing demand for various digital marketing analytics platforms like email marketing, social media marketing, SEO marketing, content marketing, PPC marketing, display marketing, and video marketing for understanding and improving digital channel user experience. These platforms are bound to keep the cash registers ringing for digital marketing analytics market going forward”, says an analyst from Future Market Insights.
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What more into Digital Marketing Analytics Market?
- The research study is based on solution (digital marketing analytics software and services (consulting, design & implementation, and support & maintenance services), by end-user (small & medium enterprises and large enterprises), and by application (social media marketing, email marketing, content marketing, SEO marketing, PPC marketing, video marketing, and display marketing).
- The facts that digital marketing analytics help in understanding behavior of the audience, enhancing operational strategies, and averting wasting resources are expected to take the digital marketing analytics market by storm in the near future.
Digital Marketing Analytics Market Outlook by Category
By Solution:
- Firstly, let’s explore Digital Marketing Analytics Software.
- Additionally, there are Services available.
- Furthermore, Consulting plays a crucial role.
- Moreover, Design & Implementation is important.
- Lastly, don’t forget about Support & Maintenance Services.
By End User:
- Moving on to End User segmentation:
- Firstly, Small & Medium Enterprises are a key category.
- Secondly, Large Enterprises are also significant.
By Application:
- Shifting our focus to Applications:
- Social Media Marketing is a prominent area.
- Email Marketing, on the other hand, is crucial.
- Next, we have Content Marketing to consider.
- Additionally, SEO Marketing deserves attention.
- Pay Per Click Marketing is another noteworthy category.
- Furthermore, Video Marketing and Display Marketing are also vital.
By Region:
- Finally, let’s examine the regional aspect:
- North America stands out as a significant region.
- Latin America has its own unique market dynamics.
- Europe is another important player.
- East Asia is emerging as a key market.
- South Asia & Pacific have their own opportunities.
- Lastly, Middle East and Africa (MEA) should not be overlooked
Author:
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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