dublin, February 26, 2024 /PRNewswire/ — The “US Marketing Analytics Market – Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019-2029” report has been added. ResearchAndMarkets.com Recruitment.
The U.S. marketing landscape is currently witnessing transformative changes, with companies increasingly recognizing the critical role of analytics in customer retention and competitive advantage. New market analysis reveals surprising insights into the fast-growing US marketing analytics market that will witness extraordinary growth in the near future.
In detailed assessment, industry estimates are as follows: $4.66 billion In 2024, it will rise to impressive levels $8.48 billion This market is anticipated to expand vigorously at a compound annual growth rate (CAGR) of over 12.73% during the forecast period 2024-2029.
Integrating marketing analytics solutions with existing enterprise resource planning (ERP) systems is central to leveraging large amounts of data to enhance decision-making processes. Such integration plays a critical role in tracking the effectiveness of the diverse channels used to keep customers connected and information flowing.
New trends revitalizing the market
- Digital marketing tools and web analytics are essential for large enterprises, ensuring optimized return on investment (ROI) and progressive performance metrics.
- The influence of social media platforms in online marketing data analysis acts as a catalyst for marketers to invest in such solutions, allowing them to accurately monitor and improve their social media efforts.
- Cloud-based analysis tools are increasingly preferred due to their accessibility and ease of use, eliminating the need for hardware or software installation and providing advanced visualization techniques in user-friendly dashboards.
Recent strategic developments highlight Microsoft's commitment to bring AI chatbots to its Bing search engine and other products, with a significant investment in OpenAI, and a shift in data analysis approaches. It reflects changes over time.
Retail industry seizes opportunity
The retail industry's move towards digital transformation and innovative operational technologies highlights the pressing need for actionable data. Pioneering solutions like Deep North's Checkout IQ May 2022marks a tipping point where retailers are deploying cutting-edge tools that use computer vision and AI to reduce losses at checkout, thereby improving revenue and customer experience.
The progress of the retail industry is further evidenced by notable statistics showing changes in US retail sales. In particular, the use of big data analytics in the retail industry has the potential to significantly expand operating margins. With the advent of the omnichannel retail environment, the ability to monitor in-store customer interactions and provide timely purchase incentives is revolutionizing retail marketing analytics.
Evolving competitive environment
The US marketing analytics market is characterized by intense competition, with leading companies focused on expanding their domestic and international consumer bases. Recent moves such as Oracle's introduction of new AI capabilities into Oracle Fusion Cloud and LinkedIn's strategic acquisition of marketing analytics business Oribi are key to evolving market dynamics aimed at growing revenue and improving customer experience. It acts as an indicator.
This comprehensive market analysis promises to be a valuable asset for parties seeking to navigate the highly competitive and innovation-driven US marketing analysis landscape. The expected growth with retailers at the forefront is an indicator of the digital transformation that is shaping industry practices today.
Some of the companies mentioned in this report include:
- IBM Co., Ltd.
- microsoft
- Oracle Corporation
- salesforce.com, Inc. (Tableau Software Inc.)
- Accenture PLC
- Adobe Systems Incorporated
- SAS Institute Inc.
- Teradata Co., Ltd.
- Neustar Co., Ltd.
- Pegasystems Co., Ltd.
- Google LLC
For more information about this report, please visit https://www.researchandmarkets.com/r/c6c0nc.
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