Digital marketing has become the preferred way for companies and brands to reach and engage their core audiences, thereby increasing their profits. The growing proliferation of related devices and gadgets such as wearables, tablets, smartphones, and laptops, increases the necessity for digital marketing analytics solutions to consolidate data. This technology monitors user feelings across a wide range of devices and helps provide a highly personalized user experience. For example, healthcare providers provide personally advertised users that they are logged in with a smartphone and a wear device designed based on real-time statistics. Factors such as the growing use of social media channels for advertising purposes, rising average investment in advertising products, and the need to understand consumer behavior are driving the global market for marketing analytics.
As per latest development, In June, 2021, JW Player, a leading video and data analytics platform, raised $100 million in E-Series funds from LLR Partners. With this funding, JW Player will accelerate product innovation to quickly meet customer demands in today’s digital video environment, expand its global market presence through sales, marketing and distribution partnerships, and continue to grow and invest in topnotch team building.
The global digital marketing analytics market is bifurcated on the basis of application, decision, end user and region. By application, the market is divided into social media marketing, video marketing, email marketing, SEO marketing, content marketing, click marketing, and display marketing. The global market for digital marketing analytics is also segregated based on the solution into design and implementation, support and maintenance, and consulting. Based on end users, the global digital marketing analytics market is divided into small and medium-sized companies and large companies.
North America is set to show great growth prospects in the global digital marketing analytics market. This trend is driven by growing investments in online marketing amid the pandemic conditions. However, Asia Pacific has the most social media and smartphone users. Factors such as the growing popularity of online shopping and the growing expansion of the Internet, especially in countries like India and China, are positively impacting the regional market for digital marketing analytics.
Some of the leading players contributing in the global digital marketing analytics market IBM Corporation, Adobe, Hewlett Packard Enterprise Company, Marketo, Inc.Salesforce.com, SAS Institute, and Microsoft Corporation. Consistent advancement in statistics and data for better marketing funnel and planning is set to create significant momentum for digital marketing analytics market.