The global digital marketing analytics market reached a valuation of US$ 4.2 Bn in 2021. Sales in the market are projected to increase at an impressive 20.5% over the forecast period, with the market valuation reaching US$ 27.2 Bn in 2031.
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It offers valuable insights to understand audience behavior, improve operational strategies, and avoid wasting resources. Surging demand for digital marketing analytics platforms such as social media marketing, email marketing, content marketing, SEO marketing, pay per click marketing, video marketing, and display marketing to understand and improve digital channel user experience is expected to augment the growth of the market.
Potential Impact of COVID-19 on Adoption of Digital Marketing Analytics
Digital marketing companies are facing the heart of coronavirus outbreak, translating into a 180-degree shift in their strategic plans for the near term. Partial or complete lockdowns, pushing the adoption of work from home culture, are proving to be changing the dynamics of digital marketing analytics market drastically in the near future.
Demand is increasing for digital marketing analytics solutions among smart TV application developers in order to obtain efficient understanding of app usage, to take data-driven decisions regarding future app investment, and also to sustain in the increasingly competitive environment. This in turn, is expected to create major business opportunity for digital marketing analytics solution providers in the smart TV segment.
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Key Takeaways of Digital Marketing Analytics Market Study
- The adoption of digital marketing analytics solution and tools is anticipated to grow significantly in small and medium enterprises.
- Social media marketing one of the primary applications of marketing analytics has been on the rise owing to many developments, such as chatbot and other applications.
- Software segment to hold the largest market share of the digital marketing analytics market.
- Business partnerships help increase business revenue, and new innovations in IT are enabling digital marketing analytics solution providers reach new potential customers, globally.
Growing Need for Integrated Digital Marketing Analytics Solutions to Propel Market Growth
Increasing number of connected personal device such as smartphones, laptops, tablets and wearable devices is driving the need for integrated digital marketing analytics solution to organize data across multiple devices. Integrated analytics solution tracks user behaviour across various devices and helps to deliver highly personalized customer experience.
For instance, healthcare companies can deliver customized advertisement to a user connected with a smartphone and wearable device that is designed for fitness purposes, based on real-time factors.
Learn More About FMI’s Digital Marketing Analytics Market Study
In its latest report, Future Market Insights offers an unbiased analysis of the global digital marketing analytics market, providing historical data for period of 2014-2021 and forecast statistics for the period of 2022-2029. To understand opportunities in the digital marketing analytics market, the market is segmented on the basis of solution (software, services), application (social media marketing, email marketing, SEO marketing, pay per click marketing, content marketing, video marketing, display marketing), and end-user (small and medium enterprises, large enterprises), across seven major regions.
A comprehensive view of the digital marketing analytics market has led our analysts to conclude that, the market is escalating at a significant rate owing to growing demand for real-time analytics to deliver personalized ads. Digital marketing analytics market in regions such as East Asia and Europe is anticipated to grow at high rates during the forecast period, owing to increased adoption of digital marketing analytics solutions and tools across various industries. Alliances with other providers, along with regional expansion, are some strategies opted by key players in these regions to fuel market growth.
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Key Questions Answered in the Report
- Which region is expected to showcase high growth in digital marketing analytics market?
- Who are some of the leading companies offering digital marketing analytics market?
- How much is the global digital marketing analytics industry worth?
- At what did the digital marketing analytics market grow between 2016 and 2020?
- What are the key trends of driving digital marketing analytics sales?
- Which countries are the key providers of digital marketing analytics?
- What is the global digital marketing analytics market year-over-year growth rate?
- Which are the top 5 countries driving digital marketing analytics demand?
- What is North America digital marketing analytics market outlook?
- At what rate will the South Asia & Pacific digital marketing analytics market grow?