Digital Marketing Analytics Market 2021 | In Depth Analysis, Solution, Industry Influence Factors and Forecast 2029

(Markitwired via Comtex)

Growing focus on achieving peak marketing performance and diligentanalysis of customer engagement across various channels will continue to driveadoption of digital marketing analytics services, according to a new study byFuture Market Insights (FMI). Advanced analytics services that map the entirecustomer journey are replacing basic models, and the shift is likely to becomemore pronounced as personalization becomes key to brand engagement.

According to FMI’s analysis, digital marketing analytics revenues willgrow at 14% annually, with social media- and content- marketing channelscreating significant opportunities. With a significant increase in demand forcustomized solutions, the digitalmarketing analytics market is projected to witness impressivegrowth during 2019-2029. Content marketing services will remain a highlyprofitable offering and continue to gain traction throughout the period ofprojection. Increasing inclination towards leveraging social media platformsfrom promotional activities is shaping up as a key trend.

“Besides surging demand from large enterprises, digital marketinganalytics is witnessing strong traction for smart TV applications,” saysthe FMI analyst.

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Digital Marketing Analytics Market – Key Takeaways

  • Social media marketing will remain the leading application area, majorly driven by applications such as chatbots.
  • High installed base of software continues to account for a significant revenue share in market.
  • North American market continues to lead; East Asia is emerging more lucrative and will possibly outpace the former by 2022.

Digital Marketing Analytics Market – Key Driving Factors

  • Increasing investments of enterprise operators in digital marketing and mobile platforms remain among the key growth drivers.
  • An escalating number of Internet users, particularly active on social media, continues to push the adoption of digital marketing analytics strategies.
  • Heightening demand for data analytics to get assistance with better decision-making fosters the growth of market.
  • More businesses embracing social media marketing solutions for better customer outreach will continue to offer an impetus to market growth.

Digital Marketing Analytics Market – Key Constraint

  • Security issues associated with data accessed by unauthorized users is a major factor that continues to restrict the market growth.

Anticipated Impact of Covid-19 Outbreak

The covid-19 outbreak has resulted in a multitude of eventcancellations, which is forcing marketers to explore alternatives in digitalplatforms. As an increasing number of companies turn to delivering personalizedcustomer experience, adoption of digital marketing analytics will see a heavyrise in near term. COVID-19 induced work from home culture, lockdowns, andstay-at-home orders are working in favor of the companies providing digitalmarket analytics solutions.

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Competition Landscape

Some of the leaders in digital marketing analytics market include, butnot limited to, SAS Institute Inc., Adobe Systems Inc., Hewlett Packard, IBMCorporation, Hubspot, Oracle Corporation, Teradata Corporation, SAP AG,Microsoft Corporation,, and Pega-Systems. A majority of keyplayers are investing in multiple device applications with integrated analyticsfor a personalized customer experience. While large-scale enterprises continueto incorporate conventional analytics packages, some companies are alsoinitiating subscription-based models to cover the requisites of both largeenterprises and SMEs.

More About the Report

FMI’s market research report of 300 pages offers comprehensive insightson digital marketing analytics market. The market is analyzed on the basis ofsolution (software and services), application (social media marketing, emailmarketing, SEO marketing, pay per click marketing, content marketing, videomarketing, and display marketing), and end user (large enterprises and small &medium enterprises) across six key regions (North America, Latin America,Europe, East Asia, South Asia and Pacific, and MEA).

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