DUBLIN, Feb. 26, 2024 /PRNewswire/ — The “US Marketing Analytics Market – Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 – 2029” report has been added to ResearchAndMarkets.com’s offering.
The American marketing landscape is currently witnessing a transformative shift, with companies increasingly recognizing the significant role of analytics in customer retention and competitive advantage. A new market analysis reveals remarkable insights into the burgeoning US Marketing Analytics Market, which is poised for exceptional growth in the near future.
In a detailed assessment, the industry’s estimated value stands at USD 4.66 billion in 2024, ascending to an impressive USD 8.48 billion by 2029. This market is anticipated to expand vigorously at a Compound Annual Growth Rate (CAGR) of over 12.73% during the forecast period of 2024 to 2029.
The integration of marketing analytics solutions with existing Enterprise Resource Planning (ERP) systems is central in harnessing the plethora of data for enhanced decision-making processes. Such integrations play a critical role in tracking the effectiveness of diverse channels employed to maintain customer connectivity and flow of information.
Emerging Trends Catalyzing the Market
- Digital marketing tools and web analytics are indispensable for large businesses, ensuring an optimized Return on Investment (ROI) and escalated performance metrics.
- Social media platforms’ influence in online marketing data analysis acts as a catalyst for marketers to invest in such solutions, allowing for precise monitoring and improvement of social media endeavors.
- Cloud-based analytical tools are increasingly favored for their accessibility and ease of use, negating the necessity for hardware or software installations while providing sophisticated visualization techniques for user-friendly dashboards.
Highlighted among recent strategic developments, Microsoft’s commitment to infusing AI Chatbots into Bing’s search engine and other products, with a substantial investment in OpenAI, reflects a groundbreaking shift in data analytics approaches.
Retail Industry Seizing the Opportunity
The retail sector’s turn towards digital transformation and innovative operational technologies underscores a pressing demand for actionable data. Pioneering solutions, like Deep North’s Checkout IQ, introduced in May 2022, signify a turning point wherein retailers are equipped with cutting-edge tools to mitigate loss at checkout using computer vision and AI, thereby elevating revenue and customer experience.
The progression of the retail landscape is further evidenced by notable statistics indicating a shift in US retail sales. Notably, the utilization of big data analytics in retail could potentially scale operating margins significantly. With the emergence of omnichannel retail settings, the ability to monitor in-store customer interactions and proffer timely purchase incentives is revolutionizing retail marketing analytics.
Competitive Landscape Evolving
The US marketing analytics market is characterized by robust competition, with leading entities concentrating on broadening their domestic and international consumer base. Recent moves such as Oracle’s introduction of new AI capabilities in Oracle Fusion Cloud and LinkedIn’s strategic acquisition of marketing analytics entity Oribi serve as important indicators of the evolving market dynamics aimed at enhancing revenue growth and customer experiences.
This comprehensive market analysis promises to be a valued asset for stakeholders seeking to navigate the competitive and innovation-driven landscape of US Marketing Analytics. With retailers at the forefront, the anticipated growth is an indicator of the digital transformations shaping industry practices today.
A selection of companies mentioned in this report includes
- IBM Corporation
- Microsoft Corporation
- Oracle Corporation
- Salesforce.Com Inc. (Tableau Software Inc.)
- Accenture PLC
- Adobe Systems Incorporated
- SAS Institute Inc.
- Teradata Corporation
- Neustar, Inc.
- Pegasystems Inc.
- Google LLC
For more information about this report visit https://www.researchandmarkets.com/r/c6c0nc
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