Marketing automation software refers to a software platform designed for the marketers and marketing departments to automate various repetitive marketing tasks. The marketing automation software allows businesses to streamline, automate, and measure marketing tasks such as e-mails, social, media, and workflows in order to increase operational efficiency and revenue growth. The market size in the report global marketing automation software market represents revenue generated from the sale of marketing automation software at consumer level.
Marketing automation helps in automating marketing and sales engagement to generate more leads, close more deals, and act as a better measure for assessing marketing success. Marketing departments save time and resources with an easy-to-use platform that makes it simple to manage all campaigns using a single solution.
The global marketing automation software market is gaining interest due to increasing need for personalized automated e-mails, along with growing demand for digitalized customer experience, and customer scoring system. Marketing automation software platforms vary from vendor to vendor, many of whom offer automation software solutions for both small and medium size businesses, along with large businesses.
GLOBAL MARKETING AUTOMATION SOFTWARE MARKET, BY SOLUTION, $M (2013 – 2023)
The global marketing automation software market is expected to witness a CAGR of 8.5%, during the forecast period, to reach $6,929.7 million by 2023. A significant growth rate is anticipated due to the growing need for higher and automated customer retention, globally. In addition, increasing need for personalized marketing through e-mails and customer scoring features is also driving the global marketing automation software market.
Dynamic campaign management, and emergence of account based marketing are some of the key trends observed in the global marketing automation software market. Moreover, the global marketing automation software market is expected to witness rapid growth, owing to the entry of many new companies offering sales and marketing automation solutions with their cost effective and advanced offerings.
In addition, integrated content marketing is escalating the growth of global marketing automation software market, as it enables marketers by ensuring consistent messaging, which is one of the keys to generate and enhance brand awareness. In simple terms, integrated content marketing approach delivers the right message to the right audience, through right channel, at the right time.
The global marketing automation software market is driven by factors such as growing demand for digital customer experience, customer scoring system, and increased need of personalized automated e-mails.
Marketing automation solutions help in proactively sending targeted help messages, alerts, and trainings to the customer service or sales teams in various organizations. This further enables the sales and customers service teams to handle critical customer requests in an effective manner, through immediate responses and drive the company’s cross selling revenues. In addition, it is also enhances customer satisfaction and retention by combining usage data and external data available, generating specific insights.
Automated e-mailing system is also one of the major factors driving the market. Marketing automation allows automated mails and replies, enabling sales and marketing teams to engage towards finalizing the deal and decreasing their dependence on huge staff for mailing and replying its customers. This in turn cuts the overall costs incurred in hiring and keeping additional staff employed for customer services.
Apart from this, customer scoring system is also driving the growth of global marketing automation software market, as it businesses to identify unhappy customers and help in responding to them in a timely and effective manner. The system assists in resolving individual problems, while identifying other recurring issues faced among dissatisfied customers.
One of the major opportunities for the global marketing automation market to grow is to shift towards predictive technology. Marketing automation providers have huge potential opportunities to make their platform more scalable, faster and responsive through the use of predictive technology. Future marketing automation platforms are expected to be more intelligent and capable of accommodating more specialized applications through predictive integrations, thus making automation platforms more usable for delivering relevant recommendations to marketers.
The intensity of rivalry in the global marketing automation software market is high. With the emergence of high demand for marketing software, vendors are either launching new products or aggressively upgrading their current platform features. Further, various mergers and acquisitions are also making the competition tough.
The global marketing automation software market is dominated by some major players. However, due to increasing demand and growing marketing complexities, many new players have also entered the market in turn making the automation software available to customers at competitive rates.
Some of the key players in the global marketing automation software market are Marketo Inc., Act-On Software Inc., HubSpot Inc., Infusion Software Inc., Oracle Corporation, IBM Corporation, Salesforce.com Inc, Active Campaign Inc., SharpSpring Inc., and Adobe systems Inc.
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