Global marketing automation software market is estimated to grow with approximately 9.31% CAGR during the year 2019-2027 and is expected to gain $10,279 million till the year 2027. Marketing automation software helps in automating marketing operations mainly campaign management, spend management, workflow management, collaboration management, e-mail marketing, inbound marketing, lead nurturing and lead scoring, social media marketing, and marketing asset management. It helps enterprises in making informed decisions and implements new strategies for marketing activities, spends, resources, and assets.
Marketing automation software reduces the number of repetitive tasks associated with the conventional marketing processes and improves their overall efficiency. The software connects different marketing channels such as social media, e-mail, and content marketing to collect and analyze data. It assists organizations to generate more revenue and a better ROI. It also helps store customer-specific data used in customer segmentation and targeting, categorize customers based on common interests and behaviors, develops appropriate marketing patterns, and integrates marketing channels to deliver better customer experience. Organizations use marketing automation software to understand the buying criteria of consumers and market the products accordingly.
Marketing automation finds its application in almost every customer-related vertical, especially in those who are facing huge competition such as retail industry and advertising and design. The global marketing automation software market is primarily driven by the following factors:
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One of the important drivers promoting the growth of the marketing automation software market is the rising demand to integrate marketing efforts. The companies are making efforts to integrate marketing efforts to optimize the return on marketing. This is fulfilled by marketing automation software. This software helps companies to give a complete picture of the customer, sales and marketing alignment, nurture campaign, real-time and location-based automation, bring both offline and online together.
The marketing automation software market is segmented by verticals where they are further classified into academic & education, advertising and design, BFSI, healthcare, manufacturing and distribution, media and entertainment, retail and other. Retail is the highest contributing segment with 17.71% share in 2018. The retail industry is one of the major end-users of the marketing automation software market. Marketing automation software offers retail sales that enable solutions that assist in lead generation, building a brand and increasing sales productivity. MAS assist in analyzing the behavior of customer and track customer throughout their buying journey.
Shortage of skilled employees and incorporation with existing marketing system are hindering the global marketing automation software market. Growth in the adoption of cloud-based technology has been gaining rapid traction. Cloud computing offers marketers to upload data to a global network that can be used with the help of internet connection from any device. Many industries are appreciating the benefits, that cloud computing provides. Extensive adoption of cloud computing is going on at a global level.
The global marketing automation software market segments include application, vertical, deployment model, end-user, and region.
By application, global marketing automation software market is further segmented into:
By vertical, global marketing automation software market is further segmented into:
By deployment model, global marketing automation software market is further segmented into:
By end-user, global marketing automation software market is further segmented into:
Geographically, the global marketing automation software market has been segmented based on four major regions, which includes:
The North America region was the highest contributor to the global market. The countries considered in the North America region are the US and Canada.
North America is the largest market for marketing automation software. A growing number of mobile & Internet users, the rising adoption rate of cloud computing, increasing demand for SaaS cloud services, rising demand for data integration services and the digital marketing growth are the main factors that are expected to drive the automation software market in North America during the forecasted period.
The major market players of the global marketing automation software market are:
Company Profiles covers the analysis of important players. These companies are using organic and inorganic strategies for growth. For instance, in March 2018 Salesforce acquired CloudCraze. It delivers robust B2B commerce experience on Salesforce that allows businesses to generate online revenue.
Key Findings of the global marketing automation software market