DUBLIN, May 20, 2019 /PRNewswire/ — The “Marketing Automation Software Market (2013-2023)” report has been added to ResearchAndMarkets.com’s offering
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The marketing automation software market will generate a revenue of $32.6 billion by 2024, during the forecast period, the domain will progress at a 13.6% CAGR.
The reasons for the growth would be the rising use of social media and increasing adoption of digital marketing. On-premises and cloud are the two deployment types, of which the cloud category is expected to grow faster in the future. The high demand for cloud services by enterprises to improve reliability and scalability in order to eventually enhance their IT functionality and operations is one of the main reasons behind it.
Telecom and IT, banking, financial services, and insurance (BFSI), automotive, retail, hospitality, manufacturing, government, healthcare, media and entertainment, education, e-commerce, and others (aerospace, logistics defense, and research companies) are the various industries that contribute to the marketing automation software market growth. Among all these, the largest revenue contribution in 2018 is estimated to come from the BFSI sector. The huge amounts of data with BFSI companies can be leveraged to target more customers, using marketing automation software; therefore, the growth of the sector will positively affect the domain.
Another reason for the marketing automation software market progress is the increasing usage of automation tools by digital marketing agencies to run advertising campaigns on multiple channels. The management of repetitive tasks for e-mail marketing, social media marketing, and search engine optimization becomes easier with automation tools. The digital marketing vertical has grown because of increasing internet penetration in developed as well as developing countries.
In 2018, North America is estimated to lead the marketing automation software market, owing to the growth of digital marketing and a rapidly increasingly number of start-ups, which will result in a rise in the adoption of such software. Companies in the region are increasingly marketing their products and services on digital platforms, as the penetration of online media in people’s lives is growing. People here are becoming tech-savvy, which is apparent in their shifting inclination toward social media.
Another reason for the increasing marketing activities on online platforms is the improvement in retail and growth of the e-commerce sector. Further, with developments in IoT technologies and IT industry as a whole, the innovation scope is also increasing. Vendors are offering advanced software to help companies in their marketing activities, which is further taking the marketing automation software market forward.
Marketing automation software is fast becoming essential for B2C and B2B organizations for lead generation and nurturing, making the domain highly competitive. The marketing automation software market is currently witnessing the entry of new players and a decline in software prices.
IBM corporation, Oracle Corporation, Salesforce.com Inc., Adobe Systems Incorporated, Teradata Corporation, HubSpot Inc, SharpSpring, Inc., Act-On Software Inc., Infusionsoft Inc., SAS Institute Inc. (SAS), and ActiveCampaign Inc. are the key players in the domain.
Market Dynamics
Trends
- Focus on personalized content
- Use of predictive lead scoring
Drivers
- Rising adoption of digital marketing
- Growing social media usage across the globe
- Impact analysis of drivers on market forecast
Restraints
- High initial investment
- Impact analysis of restraints on market forecast
Opportunities
- Integration of artificial intelligence (AI) with marketing automation software
- Growing adoption of marketing automation software among SMEs
Global Marketing Automation Software Market Segmentation
Market Segmentation by Solution
- Cross Channel Campaign Management (CCCM)
- Real-time Interaction Management
- Lead-to-Revenue Management (L2RM)
- Marketing Resource Management
- Content Marketing Platform (CMP)
- Through Channel Marketing Automation (TCMA)
Market Segmentation by Enterprise Size
- Large Enterprises
- Small and Medium Enterprises (SMEs)
Market Segmentation by Deployment Type
Market Segmentation by Deployment Type
- Banking, Financial Services, and Insurance (BFSI)
- Telecom and IT
- Retail
- Automotive
- Manufacturing
- Hospitality
- Healthcare
- Government
- Media and Entertainment
- E-Commerce
- Education
- Others (Defense, Aerospace, Research Companies, and Logistics)
- Market Segmentation by Region
Marketing Automation Software Market
- By solution
- By enterprise size
- By deployment type
- By industry
- By country (U.S. and Canada)
Companies Mentioned
- Oracle Corporation
- International Business Machines (IBM) Corporation
- Adobe Systems Incorporated
- Salesforce.com, Inc
- HubSpot, Inc
- Teradata Corporation
- Act-On Software, Inc.
- SharpSpring, Inc.
- SAP SE
- SAS Institute Inc.
- Infusionsoft, Inc.
- ActiveCampaign, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/pjywuw
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