Over the projection period, the Digital Marketing Analytics Market is expected to grow at a rate of 20.5 percent, with a market valuation of US$ 27.2 billion in 2031.
The digital marketing analytics market accounts for 30% of the global digital marketing market, according to Future Market Insights (FMI). Digital marketing analytics is software that measures, tracks, and analyses the performance of consumer campaigns to make better decisions.
It provides useful information for better understanding audience behavior, improving operational tactics, and avoiding resource waste. The market is expected to grow in response to rising 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 better understand and improve digital channels’ user experience.
COVID-19’s Potential Impact on Digital Marketing Analytics Adoption
Digital marketing firms are in the midst of a coronavirus outbreak, requiring a 180-degree pivot in their short-term strategic goals. Partially or completely enforcing work-from-home policies is proving to radically alter the dynamics of the digital marketing analytics market shortly.
The Market Study on Digital Marketing Analytics’ Key Takeaways
Small and medium businesses are expected to adopt digital marketing analytics solutions and tools at a rapid rate.
Due to several advancements, such as chatbots and other applications, social media marketing has become one of the most popular applications of marketing analytics.
The software category is expected to dominate the digital marketing analytics market.
Business alliances help businesses grow, and new IT breakthroughs are allowing digital marketing analytics solution providers to reach out to new potential clients all over the world.
Examining the Competition
- Adobe Systems Inc.
- IBM Corporation
- Prophet Corporation
- SAP AG
- Salesforce.Com Inc.
- Pega-Systems
