According to a recent analysis by Future Market Insights (FMI), sales in the digital marketing analytics market are projected to increase at a stupendous 20.5% CAGR, reaching US$ 4.2 Bn in 2021.
Digital marketing analytics platforms are essential for understanding the customer outlook gained from digital channel and boost customer satisfaction. These solutions help in collecting the data of the enterprise through online channels.
Increasing dependence of social media platforms, surging adoption of cloud technology and big data, and the need for exact ROI calculation in online marketing are chief factors expected to drive sales in the market.
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In addition to this, growing adoption of connected devices and gadgets such as smartphones, laptops, tablets, and wearable devices is underscoring the need for integrated digital marketing analytics solutions to organize data across multiple devices.
The technology tracks user sentiments across multitude of devices and helps deliver highly personalized customer experience. For instance, healthcare service providers provide customized advertisement to users connected with a smartphone and wearable device that is designed for fitness purposes, based on real-time metrics.
Key Takeaways:
- By solution, the digital marketing analytics software segment is anticipated to grow at a robust CAGR of 22.8% through 2031.
- In terms of application, the adoption of digital marketing analytics in social media marketing segment is anticipated to increase at a CAGR of 24.8% between 2021 & 2031.
- Based on the end user, sales in the large enterprises segment accounted for 60.3% of the total market share in 2020, nd the trend is expected to continue through 2031.
- Canada is projected to emerge as a lucrative market, with sales growing at a 19.3%CAGR over the assessment period.
- The India digital marketing analytics market will expand at a robust 31.5% CAGR through 2031.
- In Japan, sales are expected to increase at a CAGR of close to 25.0% over the forecast period.
Competition Landscape
Key players operating in the global digital marketing analytics market are investing in acquisitions, mergers, and partnerships to improve their product portfolios. Besides this, market players are also focusing on providing products directly to end users to improve direct customer relations. For instance:
- In May 2018, conDati has announced the launch of its new digital marketing analytics platform based on machine learning. It is a cloud-based analytics platform that’s designed to help marketers better understand the impact of their digital advertising campaigns.
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Digital Marketing Analytics Market Outlook by Category
By Solution:
- Digital Marketing Analytics Software
- Services
- Consulting
- Design & Implementation
- Support & Maintenance Services
By End User:
- Small & Medium Enterprises
- Large Enterprises
By Application:
- Social Media Marketing
- Email Marketing
- Content Marketing
- SEO Marketing
- Pay Per Click Marketing
- Video Marketing
- Display Marketing
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East and Africa (MEA)
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