Marketing analytics is the practice of measuring, managing and analyzing marketing performance to maximize its effectiveness and optimize return on investment (ROI). In other words, we can define it as the process and technology that allow marketers to evaluate their success of marketing initiative. The growth of global marketing analytics software market has been accelerated by increasing social media activities which include Facebook, Twitter, and Instagram who helps to provide the huge amount of consumer related data. Marketing analytics software helps to improve the efficiency of each marketing program by measuring the result and understanding what works best.
Marketing analytics software is becoming the essential tool in each industry for the analysis of consumer behavior. The Marketing analytics software market is driven by many drivers. The increasing trend of the social media channels is one of the key drivers among others for the marketing analytics software market. Apart from drivers, the marketing analytics software market contributes various restraints and opportunities. Easy availability of the open source solution is one of the restraints which is restraining the growth of this market whereas an increase in trend of marketing analytics can be one of the opportunities for the growth of marketing analytics software market.
According to the report, the global marketing analytics software market was valued around USD 1.49 billion in 2016 and is expected to reach USD 2.81 billion by 2022, at a CAGR of 11.2% for the forecast period from 2017 to 2022.
The report provides a segment analysis of marketing analytics software market by application, vertical and by geography. The application segment includes email marketing, SEO marketing, social media marketing, display marketing, pay per click marketing, display marketing, video marketing and content marketing. The report provides the market size and forecast through the Vertical segment which includes retail, energy & utility, BFSI, healthcare, media & entertainment and others. The regions such as North America, Europe, APAC, Latin America and the Middle East and Africa have been covered in the report.
The report covers detailed competitive outlook including the market share and company profiles of the key participants operating in the global market. Key players profiled in the report are Adobe Systems Inc, Oracle Corporation, Harte-Hanks Inc, Wipro Corporation, SAS Institute Inc, Teradata Corporation, IBM Corporation, Experian Plc and Pega systems Inc.