Market Research Report
Marketing Automation Software Market (2013-2023)
|Published by||Prescient & Strategic Intelligence Private Limited||Product code||536361|
|Published||Content info||177 Pages
Delivery time: 2-3 business days
|Marketing Automation Software Market (2013-2023)|
|Published: February 19, 2019||Content info: 177 Pages||
It is being estimated by P&S Intelligence, that by 2024, the marketing automation software market will generate a revenue of $32.6 billion. 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.