United States Marketing Analytics Market Report and Forecast 2024-2032

United States Marketing Analytics Market Outlook

The United States marketing analytics market size reached approximately USD 2.05 billion in 2023. The market is projected to grow at a CAGR of 12.20% between 2024 and 2032, reaching a value of around USD 5.96 billion by 2032.

Key Takeaways

Marketing analytics refers to the use of machine learning, predictive modelling, and statistics to understand the impact of a marketing campaign and improve strategies that do not attract customers. It helps marketers in quantifying their claims and in predicting future trends in marketing. Marketing analytics boosts actionable knowledge of businesses and helps them by sorting customer data based on its relevance.

The United States marketing analytics market is being driven by an increase in data depreciation, a rising quantity of digital clutter, and increased difficulty in reaching consumers. With the proliferation of social media channels and digital networks connecting people, the volume and type of data consumed have grown tremendously, which has made it difficult for marketers to leave a lasting brand impression on consumers’ minds. With the help of data analytics tools, businesses can determine consumer preferences and customise product offerings, which is more likely to drive sales as compared to a broad marketing strategy.

Key Trends and Developments

Rising prominence of context-enriched analytics; technological advancements; growth of self-service analytics tools; and rise of emotional analytics are the major trends impacting the United States marketing analytics market growth.

United States Marketing Analytics Market Trends

Data fabrics can reduce efforts for data management by up to 70% and improve data usage via its in-built analytics tools. This helps in enhancing business performance and minimises technical debt of the business. In times of shortage of expert data management professionals, data fabrics can bring exceptional results for both small and medium size enterprises and large organisations.

The trend of data democratisation is prompting companies to provide self-analytics tools and solutions for employees with non-technical knowledge. The intuitive user interfaces of self-analytics tools, coupled with visual dashboards and innovative features, are enabling businesses to make data-driven decisions without hiring specialised talent pool for generating reports and providing analysis. This is expected to contribute to the United States marketing analytics market demand in the coming years.

Market Segmentation

“United States Marketing Analytics Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

Small and medium enterprises are expected to dominate the United States marketing analytics market share in the forecast period

Small and medium enterprises are expected to lead the market as digital marketing is one of the most crucial mediums of advertisement for these organisations. Marketing analytics tools help them in curating and personalising products as per consumer demand, which, in turn, drives sales.

Meanwhile, large enterprises are expected to witness a steady demand for marketing analytics tools in the forecast period, amid the rising focus to optimise their web pages and provide a seamless website navigation experience to customers. They also use data analytics tools to improve conversion rates by improving upon key parameters of the marketing campaign.

The travel and hospitality sector to make increasing use of marketing analytics tools due to the rising demand for personalised suggestions among customers

The travel and hospitality sector is expected to constitute a major portion of the United States marketing analytics market share in the coming years. Marketing analytics tools help these companies pinpoint key travel destinations that appeal to consumers and design their product offerings and pricing.

The media and communication sector is also expected to increase its reliance on marketing analytics tools to gauge the news items and TV shows that are preferred by consumers to watch. This can help them gain popularity and serve consumer preferences better. Meanwhile, in the retail sector, marketing analytics play a crucial role in providing targeted advertisements to customers, managing inventory, predicting demand, and enhancing profitability.

Competitive Landscape

Major market players are collaborating to launch innovative marketing analytics solutions in the USA.

Other United States marketing analytics market players include Google LLC, Microsoft Corp., Teradata Corporation, and Improvado Inc., among others.

Key Highlights of the Report