Techno World Marketing-Analytics-Software-Market | Page 2

including customer analysis, and product positioning among others. These factors further
enables the creation of efficient strategies. For instance, according to Coherent Market Insights’
analysis, globally, around 52% of customers are extremely influenced to switch brands, if a
company does not personalize their communications with its customers. Therefore,
understanding customer behavior is a major factor, propelling growth of the global marketing
analytics software market.
Additionally, increasing number of social media channels is driving demand for marketing
analytics software. The large volumes of consumer-related data obtained from the social media
platforms, helps in analyzing data pertaining to consumer behaviour, which in turn increases the
demand for marketing analytics software.
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However, lack of awareness among the customers about the software and its features is the
major challenge faced by the vendors of marketing analytics software.
Global Marketing Analytics Software Market: Regional Insights
On basis of geography, the global marketing analytics software market is segmented into North
America, Europe, Asia Pacific, Latin America, Middle East, and Africa. North America is expected
to witness highest growth in the marketing analytics software market over the forecast period.
The U.S. is one of the major growth engines in the marketing analytics software market in North
America. This growth is attributed to the large number of users actively participating in the social
media activities in this country which includes Facebook, the most popular social network
website in the U.S. based on visits, followed by YouTube and Twitter. This is further increasing the
number of social media channels. For instance, according to the Coherent Market Insights
analysis in 2016, 81% of the population in the U.S. were using Facebook in 2016, with around
207 million Facebook users in the country. Therefore, the increasing number of social media
channels is expected to influence growth of the marketing analytics software market, during
forecast period.
Global Marketing Analytics Software Market: Competitive Background
Key players operating in the global marketing analytics software market include IBM Corporation,
Teradata Corporation, Good Data, Google LLC Inc., Adobe Systems, Salesforce, Neusta, Tableau
Software, Pega Systems, and Oracle Corporation