The adoption of digital marketing analytics in social media marketing segment is anticipated to increase at a CAGR of 24.8% between 2021 & 2031.
According to a recent analysis by Future Market Insights (FMI), sales in the digital marketing analytics market are projected to increase at a stupendous 20.5% CAGR, reaching US$ 4.2 Bn in 2021.
Digital marketing analytics platforms are essential for understanding the customer outlook gained from digital channel and boost customer satisfaction. These solutions help in collecting the data of the enterprise through online channels.
Increasing dependence of social media platforms, surging adoption of cloud technology and big data, and the need for exact ROI calculation in online marketing are chief factors expected to drive sales in the market.
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In addition to this, growing adoption of connected devices and gadgets such as smartphones, laptops, tablets, and wearable devices is underscoring the need for integrated digital marketing analytics solutions to organize data across multiple devices.
The technology tracks user sentiments across multitude of devices and helps deliver highly personalized customer experience. For instance, healthcare service providers provide customized advertisement to users connected with a smartphone and wearable device that is designed for fitness purposes, based on real-time metrics.
Key Takeaways:
Competition Landscape
Key players operating in the global digital marketing analytics market are investing in acquisitions, mergers, and partnerships to improve their product portfolios. Besides this, market players are also focusing on providing products directly to end users to improve direct customer relations. For instance:
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Digital Marketing Analytics Market Outlook by Category
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market.
Jun 07, 2023