From $4,438.7 million in 2020, the global marketing automation market size is projected to reach $14,180.6 million in 2030, at a 12.3% CAGR between 2020 and 2030. The major reasons for the rising demand for these solutions are the growing practice of digital marketing and rising number of people using social media. Moreover, small and medium enterprises (SMEs) are adopting these solutions to achieve marketing efficiency and cut costs.
Emails, social media, and websites are being increasingly used by companies of all sizes to promote their products and services. This can be gauged from the forecast that the spending on digital advertisements will increase to $450.7 billion by the end of this year. Hence, with the growing adoption of digital marketing, companies are using marketing automation software for lead generation and scoring, customer relationship management, cross-selling and up-selling, and targeted segmentation.
Get the sample pages of this report at: https://www.psmarketresearch.com/market-analysis/marketing-automation-software-market/report-sample
Key Findings of Global Marketing Automation Market Report
- Cross-channel campaign management (CCCM) solutions remain the most popular as they help in identifying and selecting the target audience, analyzing data, providing customized offers, managing customer contact history, and tracking report generation for each campaign on every channel.
- The higher revenue to marketing automation market players is being contributed by cloud-based software because they offer better data scalability and access and reduced IT expenses.
- Solution demand will likely to rise the fastest in Asia-Pacific (APAC), which is undergoing rapid digital transformation and witnessing an expansion of internet coverage.
- As a result, the banking, financial services, and insurance (BFSI) sector is rapidly adopting these solutions considering the growing usage of digital banking by the populace.
- The surging need for personalized content is also driving the demand for marketing automation solutions as they learn from historical data, identify user trends, and offer the content they want.
- The U.S. continues to dominate the marketing automation market on account of the rapid advances in cloud computing, strengthening digital presence of all kinds of companies, and surging social media marketing activities.
Moreover, during the COVID-19 pandemic, e-commerce and digital banking activities soared, as people were not allowed to step out of their homes, except when absolutely vital. Thus, with companies too having to close physical retail stores and offices, they shifted to the online marketing of products and services. Therefore, e-commerce was responsible for 19% of all retail sales in 2020, compared to 16% the previous year, which has been driving the demand for marketing automation solutions.
Browse detailed report on Marketing Automation Market Growth Driver and Trend Analysis By 2030
The marketing automation market has a fragmented nature due to the presence of established software vendors, including SAP SE, Oracle Corporation, Salesforce.com Inc., Adobe Inc., HubSpot Inc., Teradata Corporation, SharpSpring Inc., ActiveCampaign LLC, SAS Institute Inc., and Act-On Software Inc. To get the upper edge, these firms are vigorously launching new software and services and merging with or acquiring similar firms.
Segmentation Based Analysis of Marketing Automation Market
Based on Offering
- Cross channel campaign management (CCCM)
- Real-time interaction management (RTIM)
- Lead-to-revenue management (L2RM)
- Marketing resource management (MRM)
- Through channel marketing automation (TCMA)
- Content marketing platform (CMP)
Based on Enterprise
- Large Enterprise
Based on Deployment
Based on Application
- Lead Management
- Email Marketing
- Campaign Management
- Inbound Marketing
- Reporting and Analytics
Based on Industry
- Retail & E-Commerce
- IT & Telecom
- Media & Entertainment
- North America
- Asia-Pacific (APAC)
- South Korea
- Latin America (LATAM)
- Middle East and Africa (MEA)
- Saudi Arabia
- South Africa
Browse More Reports
Robotic Process Automation Market – The robotic process automation market is predicted to exhibit the fastest growth in the Asia-Pacific (APAC) region in the coming years. This will be because of the rising gross domestic product (GDP) of major emerging economies such as India and China and the growing public awareness about automation in the region.
Deep Learning Market – The rising need for drug discovery will also drive the deep learning market at a CAGR of 35.2% during the forecast period (2020–2030). The market was valued at $3.7 billion in 2019 and it is projected to generate $102.4 billion revenue by 2030.
Natural Language Processing Market – The APAC natural language processing market is expected to exhibit the fastest growth throughout the forecast period, owing to the mounting number of small and medium-sized enterprises (SMEs) and customer contact centers, rapid technological developments in India, Japan, and China, and surging use of cloud-enabled services and applications in the region.
Check Out The New Martech Cube Podcast. For more such updates, follow us on Google News Martech News