8 Best Market Analysis Tools (Free & Paid)

To grow your business, you need to understand your market.

But how?

Start by conducting market analysis.

In this post, you’ll learn what market analysis is and why it matters.

Plus, you’ll discover eight tools that can help you perform market analysis and dominate your niche.

Let’s start.

What Is Market Analysis?

Market analysis is the process of evaluating a market in a certain industry.

It helps you answer questions like:

• How big is your market and how fast is it growing?
• Who are the big players in your market (aka your competitors)?
• Who are your customers and what are their online behaviors?
• How can you attract your ideal customers in your market?

Market analysis is crucial for any business that wants to grow and succeed in today’s competitive world.

But how do you conduct market analysis accurately and reliably?

That’s where tools come in handy.

1. Market Explorer

Semrush’s Market Explorer tool lets you analyze your market. And helps you uncover crucial insights for your business.

Think of the tool as a drone. It provides a bird’s-eye view of the market landscape.

Want to identify who’s leading the pack in your market? No problem.

Want to see the total size of your market? Easy.

Or maybe you’re looking for the best marketing channels? Yep, it can help with that, too!

To get started:

1. Open the tool
2. Select “Analyze Category”
3. Select your desired location
4. Choose your market from the drop-down
5. Click “Research a market”

You’ll see lots of valuable information.

Look...