WILMINGTON, DE, UNITED STATES, October 11, 2024 /EINPresswire.com/ — According to the report published by Allied Market Research, the global marketing analytics software market size garnered $3.9 billion in 2021, and is estimated to generate $14.3 billion by 2031, manifesting a CAGR of 13.9% from 2022 to 2031.
Increasing use of social media channel, the rising employment of big data analytics, and the incremental need to gauge customer behavior drive the global marketing analytics software market. Based on enterprise size, the large enterprise segment accounted for the highest share in 2021. Based on region, North America held the largest share in 2021, contributing to more than one-third of the global marketing analytics software market share.
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Marketing analytics software encompasses tools and processes that enable an organization to manage, evaluate, and control its marketing efforts by measuring marketing performance. In short, these solutions simplify and optimize a business’s marketing strategies and activities. Furthermore, the increasing use of social media channels and the rising use of big data analytics boost the growth of the global marketing analytics software market. In addition, the incremental need to gauge customer behavior positively impacts the growth of the market. However, the high cost of deployment hampers the marketing analytics software market growth. On the contrary, growth in advanced technology such as 5G is expected to offer remunerative opportunities for expansion during the marketing analytics software market forecast.
Increasing use of social media channel and the rising employment of big data analytics boost the growth of the global marketing analytics software market. In addition, the incremental need to gauge customer behaviour positively impacts the growth of the market. However, the high cost of deployment hampers the marketing analytics software market growth. On the contrary, growth in advanced technology such as 5G is expected to offer remunerative opportunities for the expansion of the marketing analytics software market during the forecast period.
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Based on region, North America held the largest share in 2021, contributing to more than one-third of the global marketing analytics software market share, and is projected to maintain its dominant share in terms of revenue in 2031. On the other hand, the Asia-Pacific region is expected to manifest the fastest CAGR of 16.9% during the forecast period.
Major market players
Leading market players of the global marketing analytics software market analyzed in the research include Accenture, Adobe Inc., Google, funnel.io, IBM corporation, Oracle Corporation, SAS Institute Inc., Tableau Software LLC, Teradata Corporation, Improvado Inc.
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The report provides a detailed analysis of these key players of the global marketing analytics software market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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