According to a new market research report published by Credence Research “Marketing Analytics Software Market (by Application – Social Media Marketing, Email Marketing, SEO Marketing, Pay Per Click Marketing, Display Marketing, Video Marketing and Content Marketing; by Deployment model – On-premises Deployment and Hosted Deployment; by End-users – Retail, Banking, Financial Services & Insurance (BFSI), Education, Healthcare, Manufacturing, Travel and Hospitality) Market – Growth, Future Prospects, and Competitive Analysis, 2018 – 2026”, the global Marketing analytics software market accounted to exhibit promising CAGR of 12.25% across the forecast period through 2018 to 2026.
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The explosive growth of media, digital devices, and software applications have provided organizations with unprecedented opportunities with harvested data. Organizations are leveraging data to offer value addition for customers, increase their satisfaction, and enhance their experiences & loyalty. Marketing analytics has come to play a central role as it makes data-driven marketing more efficient and effective. Marketing analytics involves collection, management, and analysis of data to obtain insights into marketing performance, maximize the effectiveness of instruments for marketing control and optimize organization’s return on investment (ROI). With nearly half of the world population on the internet, increasing connectivity has created global change in strategic thinking & positioning and created multiple new approaches and opportunities. Ability of analyzing consumer preference, buying patterns and other important criteria determining the growth prospects of certain products or services makes marketing analytics software key to successful returns in today’s highly competitive environment.
Overall Marketing analytics software market is segmented on the basis of application, deployment model and end-users. Marketing analytics software market is commanded by social media marketing primarily due to advanced internet technology and growing trend of applications including blogs, RSS and social bookmarking. Social media marketing analyzes social media sites to surge visibility on the internet and promote services and products. North America was the leading market for marketing analytics software in 2017, credited higher adoption for data-driven practices. In 2017, 42% of organization in North America is planning to increase the budget for big data solutions, while 48% plan to allocate more spending towards business intelligence, real-time customer and business analytics. Asia Pacific region has started to catch-up with rapid pace. Data and analytics capabilities moving rapidly towards the Asia Pacific region, especially towards highly adoptive markets such as China and India.
The world has become animated about advanced analytics not only because of data size but also potential of impact is big. Although the industry is in transition stage and facing the inevitable challenges to realize large-scale benefits, it is growing with rapid technological development and proving its vitality across the several industrial verticals.
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Key players of global marketing analytics software market include Adobe Systems Inc., Fair ISAAC Corporation, International Business Machines Corporation, Oracle Corporation, QLINK Technologies Inc., Experian PLC, Harte Hanks, Inc., Pegasystems Inc., SAS Institute Inc., Teradata Corporation, Microsoft Corporation, Mckinsey & Company, and others.
By Application Type Segment (2016–2026; US$ Bn)
- Social Media Marketing
- Email Marketing
- SEO Marketing
- Pay Per Click (PPC) Marketing
- Display Marketing
- Video Marketing
- Content Marketing
By Deployment Model Segment (2016–2026; US$ Bn)
By End-user Segment (2016–2026; US$ Bn)
- Banking, Financial Services & Insurance (BFSI)
By Geography Segment (2016–2026; US$ Mn)
- North America
- Asia Pacific (APAC)
- Middle East & Africa (MEA)
- Latin America