Global Marketing Analytics Software Market By Application (Social Media Marketing, E-mail Marketing, Search Engine Marketing, Content Marketing and Others), By Deployment Type (Cloud and On-premise), By Organization Size (Large Enterprises and Small & Medium Enterprises), By End User (Consumer Goods, Industrial, Media & Communication, Healthcare, Retail, BFSI and Others), By Region, Industry Analysis and Forecast, 2020 - 2026
The Global Marketing Analytics Software Market size is expected to reach $6.8 billion by 2026, rising at a market growth of 16.9% CAGR during the forecast period. The marketing analytics software provides a multilateral analysis of a market and consumer behavior. And therefore, organizations are able to assess all the important methods and mediums of marketing and recognize the effectiveness of various marketing efforts. Thus, marketing analytics software products play an important role in improving the marketing strategies of companies, especially for those consumers who are connected to the digital ecosystem over online forums and social media networks and it is easy to analyze purchase-related behavior.
One of the major driving factors for the global market of a marketing analytics platform is the huge increase in the number of people enthusiastically participating in various social media activities. The large bulks of consumer-related data acquired from popular social media platforms have immense potential to uncover trends that can be used to making expansion related decisions. The increasing awareness among companies regarding the benefits of marketing analytics software and the increasing array of application areas of analytics software is also boosting the market.
Based on Application, the market is segmented into Social Media Marketing, E-mail Marketing, Search Engine Marketing, Content Marketing and Others. The social media marketing segment had the largest revenue share of the market in 2019. This can be accredited to the increasing use of social media platforms in developing countries, such as Indonesia, India, and Brazil. The accessibility of affordable internet packages has helped the internet to reach places enabling marketers to understand people's needs and opt for suitable marketing campaigns.
By Deployment Type
Based on Deployment Type, the market is segmented into Cloud and On-premise. The on-premise segment had a significant revenue share in 2019 due to control and higher security offered by on-premise datacenters. The on-premise deployment of marketing analytics software increases data accessibility for marketing teams, thus assisting to fit the results on the basis of end-users. Deployment of an on-premise analytics platform is encouraging companies to hire specialized talent, therefore high-quality output is ensured.
By Organization Size
Based on Organization Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. The large enterprises' segment had the largest revenue share of the market in 2019. Large enterprises practice exhaustive marketing plans and run various marketing campaigns. Online and offline campaigns are endorsed by brands and agencies across different channels to generate large data belong to ad effectiveness, consumer behavior data, and audience preferences. The usage of marketing analytics software is helpful for the marketers to gain useful insights from these data, thus make necessary modifications in their marketing campaigns, can easily track revenue growth, and improve service offerings.
By End User
Based on End User, the market is segmented into Consumer Goods, Industrial, Media & Communication, Healthcare, Retail, BFSI and Others. The media and communication segment had a significant revenue share in 2019 due to the increase in the adoption of connected ecosystems and smart devices that lead to the creation of a demanding customer base. Vendors in the media and communication sector must understand the type of content across several screens and channels and the nature of audience interaction. This data is then processed via analytics platforms for holistic, and quick views of the content-viewing patterns and preferences of the customers to strategize effective marketing campaigns.
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. The Asia Pacific had a significant revenue share of the market in 2019. This can be accredited to the dynamic AI development hubs in Vietnam, Singapore, and Malaysia. The new startups that offer AI-enabled analytics services are also boosting the regional market. Moreover, the swift deployment of digital government initiatives in China and Singapore has resulted in the emergence of various startups that offer services on the basis of analytics and advanced technologies thereby driving the regional market growth.
The major strategies followed by the market participants are Product Launches and Partnerships. Based on the Analysis presented in the Cardinal matrix; Accenture PLC, Adobe, Inc., IBM Corporation, and Oracle Corporation are some of the forerunners in the Marketing Analytics Software Market. Companies such as Teradata Corporation, Experian PLC, Wipro Limited, Harte Hanks, Inc., SAS Institute, Inc., and Pegasystems, Inc. are some of the key innovators in the market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Adobe, Inc., Accenture PLC, IBM Corporation, Oracle Corporation, Wipro Limited, Experian PLC, Pegasystems, Inc., Teradata Corporation, Harte Hanks, Inc., and SAS Institute, Inc.
Recent strategies deployed in Marketing Analytics Software Market
Partnerships, Collaborations, and Agreements:
Nov-2020: Adobe announced that Adjust, a Global app marketing platform, joined the Adobe Exchange Program. By integrating mobile app data along with data collected from additional touchpoints, current and prospective mutual clients can build a more complete view of the user journey across all channels enhancing their customer experience stack analytics. It empowers them to make more informed, targeted marketing decisions to maximize ROI and enhanced business outcomes.
Nov-2020: Wipro came into a partnership with ThoughtSpot, a technology company. Under this partnership, Wipro enhanced different components of ThoughtSpot's search and analytics platform to assist scale feature development. This partnership focuses on enhancing the AI and Cloud ecosystem and build increase the company's footprint in the US.
Oct-2020: Adobe came into partnership with Alteryx, a leader in analytic process automation. Under this partnership, Alteryx APA integrated analytics, data science, and process automation in one self-service platform. This integration made it easier for marketers to answer any query from Adobe Experience Cloud applications and Adobe Experience Platform and integrated Adobe data with other data sources for aggregated answers and actions.
Sep-2020: SAS came into partnership with RTI International, a non-profit organization. In this partnership, RTI and SAS strengthened and enhanced services to clients by integrating subject matter expertise, advanced analytics, scientific rigor, and technical and software products into comprehensive solutions.
Jul-2020: Adobe collaborated with Medallia, a customer experience management software provider. This collaboration aimed to combine Adobe's customer behavioral data with Medallia's CXM software. The Adobe Experience Cloud features solutions including advertising, analytics, commerce, content management, data management, email marketing, and personalization. The Medallia Experience Cloud utilizes machine learning for customer insights.
Jul-2020: IBM collaborated with Influential, a leader in advanced social media technology. In this collaboration, IBM launched Watson Advertising Social Targeting with Influential, a new solution that harnesses artificial intelligence (AI).
Jun-2020: Harte Hanks collaborated with Flagship Biosciences, a technology-driven tissue analysis services company. Following the collaboration, Harte Hanks developed a targeted, multi-channel campaign including email, digital advertising, and content creation to help Flagship Biosciences engage priority audiences, nurture leads and connect with potential clients.
Jun-2020: SAS entered into a partnership with Microsoft. This partnership focused on enabling customers to easily operate their SAS workloads in the cloud that expanded their business solutions and uncovered critical value from their digital transformation initiatives. In this partnership, SAS integrated with Microsoft cloud solutions including Azure, Dynamics 365, Microsoft 365, and Power Platform and helped the companies’ shared vision to further normalize AI and analytics.
Nov-2019: Experian came into partnership with Vserv, the leading authentic data platform. The partnership aimed to provide solutions to the banking, financial services, and insurance sector to assist them to reach out to specific consumers, providing access to financial products and services, and facilitate last-mile reach.
Oct-2019: Teradata partnered with Deutsche Telekom, a German telecommunications company. This partnership aimed to strengthen Teradata and Deutsche Telekom, customers benefit from dual technology expertise and an end-to-end offering.
Aug-2019: Wipro entered into a partnership with Google Cloud. The partnership aimed to boost cloud adoption and digital transformation for global enterprises. Under this partnership, Wipro stimulated innovation for enterprises in industry verticals. Wipro’s industry-focused solutions, with Google Cloud technologies embedded at their core, enabling enterprises to future-proof their IT investments.
Mar-2019: Adobe formed a partnership with LinkedIn, an American business and employment-oriented online service. The partnership focused on expanding LinkedIn's account-based marketing portfolio to Adobe Experience Cloud users. Adobe and Microsoft placed key data sources to populate account-based profiles in Adobe Experience Cloud that includes Marketo Engage and Microsoft Dynamics 365 for Sales.
Acquisition and Mergers:
Dec-2020: Adobe acquired Workfront, the leading work management platform for marketers. Together, the companies are providing Adobe's customers' access to a single system for supporting planning, collaboration, and governance that improves organizational productivity.
Nov-2020: Experian took over Tapad, a leading provider in digital identity resolution for marketers. This acquisition broadened Experian’s digital offerings for advertisers, agencies, and publishers and especially for Advanced Television, positioning Experian to take benefit of expansion in the market for digital-data advertising. The acquisition allowed Experian to assist marketers to build a more relevant experience for consumers while continuing to guard consumer privacy.
May-2020: Accenture acquired Byte Prophecy, automated insights, and big data Analytics Company. Under this acquisition, Byte Prophecy strengthened Accenture’s consulting and technology portfolio in areas like data foundations and advanced analytics.
Feb-2020: Wipro acquired Rational Interaction, a full-service digital customer experience (CX) company. This acquisition helped to scale Wipro Digital’s portfolio for Chief Marketing Officers, connecting Rational Interaction’s ability to locate and organize the customer journey with Wipro Digital’s ability to design and develop experiences at a global scale.
Oct-2019: Oracle signed an agreement to acquire CrowdTwist, the leading cloud-native customer loyalty solution. Following the acquisition, Oracle and CrowdTwist aim to empower organizations of all sizes to offer personalized engagement and expand loyalty and reward programs to a brand’s most valuable customer behaviors.
Aug-2019: Accenture signed an agreement to acquire Analytics8, a privately held Australian big data and analytics consultancy. The companies aim to provide a unique, AI-based approach to assist clients with integrated data, analytics, and automation at scale.
Mar-2019: Accenture took over Storm Digital, a privately owned boutique computer manufacturer. The acquisition expanded the presence of Accenture Interactive in the Dutch market and supported the Experience Agency’s ability to build improved experiences from start to finish, by the creative strategy, activation, content creation, measurement, and optimization of media and campaigns over multiple platforms.
Oct-2018: Adobe took over the Marketo, the market leader for B2B marketing engagement. This acquisition focused on taking benefit from the combination of Adobe Experience Cloud’s analytics, personalization, and content portfolio with Marketo’s lead management. It helped companies further connect marketing engagement to revenue growth.
Mar-2018: Accenture signed an agreement to acquire Meredith Xcelerated Marketing, a marketing and advertising company. The acquisition would add superior data and analytics skills, strong content creation, and customer engagement capabilities in direct-to-consumer marketing.
Apr-2017: Oracle signed an agreement to acquire Moat, the fastest-growing digital measurement cloud company. The acquisition aimed to combine Oracle and Moat for connecting data to consumer attention for improved media experiences and business outcomes.
Jul-2016: Teradata took over Big Data Partnership, a London-based EMEA-based services provider. This acquisition aimed to widen Teradata's analytic services portfolio, improving Think Big's expertise and offering their customers more choices, outcomes customized to their goals, and valuable knowledge transfer.
Mar-2016: Harte Hanks acquired Aleutian Consulting, Inc., a leading marketing consulting firm. The acquisition escalated Harte Hanks’ strategic goal of leadership in smarter customer interactions. Aleutian Consulting is operating as Harte Hanks Consulting and offers go-to-market strategy consulting services integrated with a proprietary fact-based, data-driven analytics approach.
Product Launches and Product Expansions:
Nov-2020: Teradata introduced the DataDNA, a new as-a-service offering. The new offering provides an automated view into data assets with their usage and cross-platform data lineage. DataDNA allows transparency into data assets and their usage for a better understanding of customers by the data flow and reduced data redundancies.
Oct-2020: IBM introduced three new products for increasing the suite of AI solutions for brands and publishers. The IBM Watson Advertising suite of solutions helps AI to assist clients to make informed, data-based decisions. The new products include Watson Advertising Accelerator, Watson Advertising Social Targeting with Influential, and Watson Advertising Weather Targeting.
Sep-2020: IBM launched Watson Advertising Weather Targeting, a new portfolio of triggers. These triggers developed for marketers to assist them to create the connection between weather and product sales actionable at scale without the use of third-party cookies or identifiers. This launch is the result of the collaboration of IBM and Nielsen. IBM integrated the power of weather insights from the Weather Company with Nielsen’s Retail Measurement Services data to obtain future reports for marketers.
Sep-2020: Oracle introduced a series of innovations within its customer data platform (CDP). The new updates to Oracle Unity allow B2B and B2C marketers to reduce costly and complex customer data integration projects by offering a single platform that integrates all customer data and allows it to be quickly and easily activated within existing business processes.
Jul-020: SAS unveiled four new service offerings, and announced updates to SAS Customer Intelligence 360. This update helped brands to escalate the value delivered through analytics with a hybrid marketing approach. The four new service portfolios included SAS 360 Digital Insight Service, SAS 360 Customer Insight Service, SAS 360 Attribution Service, and SAS 360 Data Activation Service.
Jan-2020: IBM unveiled Advertising Accelerator with Watson, a first-to-market portfolio. This portfolio uses artificial intelligence (AI) to forecast the optimal integration of creative elements that helps in driving high engagement and conversion for a given audience.
Jan-2020: Oracle launched Consumer Insights to assist retail marketers to utilize enriched customer data attributes alongside third-party consumer data from Oracle Data Cloud to discover prospective similar customers. Oracle Cloud offers data sets composed of profile-based, transaction-level data along with other demographic attributes.
Dec-2019: Experian introduced a new solution focused on helping marketers to connect with online and offline attributes and better understand their target audiences. The solution supported machine-learning algorithms and probabilistic techniques to link billions of detect signals and data elements, which includes Mobile Ad IDs (MAIDs) from a variety of internal and external sources.
Scope of the Study
Market Segments covered in the Report:
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook