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The global marketing automation software market stood at $4,057.3 million in 2019 and is expected to register a CAGR of 13.1%, during the forecast period. Some of the major factors driving the growth of the industry include growing preference for personalized shopping experience, surging focus toward automated marketing processes, rising utilization of social media platform, and increasing focus of businesses across the globe to invest heavily on digital marketing, in order to leverage the opportunity of accessing and targeting a larger audience base.
With the impact of COVID-19, growth of the marketing automation software market is expected to decline with less adoption of marketing automation solutions. This is mainly due to lockdown situations in countries, which have resulted in operational halts of businesses. As a result, companies are not willing to spend money on the marketing operations and are focusing on existing revenue sources.
In 2019, the solutions category, in term of offering, accounted for the larger share in the marketing automation software market. This is mainly due to the surging adoption of marketing automation solutions for generating maximum number of quality leads and capturing real-time customer data from online channels across various industries, such as retail & e-commerce; banking, financial services, and insurance (BFSI), information technology (IT) & telecom; and media & entertainment.
Furthermore, the CCCM subcategory accounted for the largest market size, in 2019. This is attributed to the high implementation of campaign management solutions, which support tracking report generation over each campaign on each channel; identifying and selecting target audiences; providing customized offers; performing data analysis; and others.
During the forecast period, the small and medium enterprises (SMEs) category is expected to witness faster growth in the enterprise segmentation, in the marketing automation software market. This is mainly attributed to the growing requirement of reducing repetitive tasks; shift toward internet of things (IoT), cloud computing, and other technologies; increasing need for streamlined business operations; capturing customer requirements from varied sources; and reduced operational expenditure. In addition, marketing automation solutions offer several benefits to small businesses, including cross-selling opportunities, improved customer engagement, reduced communication time, and increased sales for the company.
The cloud category held larger share in 2019, and is also expected to register faster growth during the forecast period in the marketing automation software market. This can be mainly attributed to the increasing adoption of cloud-based marketing automated solutions for integration with the existing system, which allows users to upload and access data from anywhere. In addition, the vast implementation of cloud computing technology among enterprises for several benefits, such as high data storage, increased data access flexibility, and reduced IT expenditure, contributes toward increased cloud spending, which provides lucrative opportunity for market players to introduce cloud-supported marketing automation solutions for data analytics insights.
The lead management application category held largest share in the global marketing automation software market in 2019. This is mainly due to various factors, such as capturing all the potential leads that are browsing the company website, monitoring of prospect behavior, growing demand for personalized experience among customers, and better management of entire lead lifecycle process. Additionally, lead management software supports enhancing the quality of customer data by gathering all relevant information from disparate sources, which, in turn, helps companies to increase demand and achieve higher revenue.
The retail & e-commerce category in terms of industry held the largest revenue share in the marketing automation software market in 2019. This is mainly attributed to growing consumer spending; rising internet penetration; and surging preference toward adoption of next-generation technologies by retail companies. A large number of retail companies are focusing on the adoption of marketing automation solutions to have competitive advantage and provide better customer experience. Moreover, increasing focus of consumers toward digitization and improving financial conditions contribute to the increased demand of marketing automation software used in the retail & e-commerce industry, across the globe.
During the historical period (2014–2019), North America led the marketing automation software market. This is mainly due to strong presence of large number of software vendors in the region, including Oracle Corporation, Adobe Inc., HubSpot Inc., and SharpSpring Inc. Other factors supporting market growth include rapid shift of brands toward adoption of digital marketing platforms, growing requirement for personalized campaign management, wide awareness related to the utilization of automation solutions, surging adoption of automation tools primarily in the retail sector, and huge developments in cloud computing.
During the forecast period, APAC is expected to witness the fastest growth in the industry. This can be ascribed to growing internet penetration, rapid inclination toward social media platforms, rise of the retail & e-commerce industry, surging developments in the IT sector, growing emphasis of the brands to market products on online platforms, favorable government regulations in the region, rising consumer demand for advanced products, and surging need for recording real-time data insights for tracking consumer preferences and improved experience.
In addition, regional vendors focus on providing a scalable and responsive workflow to enterprises of all sizes, along with realizing a need for offering fast and intuitive application programming interface (APIs), in order to offer utmost experiences to the clients.
Growing preference for personalized content is one of the major trends witnessed in the marketing automation software market. In current digital landscape, customers expect companies to come up with product recommendations based on their choices and preferences. Marketing automation software has the ability to learn from collected data, identify purchasing pattern, and make decisions with minimal human intervention. The software provides recommendation to customers for appropriate products and services, automatically depending on individual profiles, and their online activity. This way, such software help businesses to increase engagement levels with customers, fulfill specific customer needs, improve business processes, and offer better customer support.
One of the major factors driving the marketing automation software market globally is rising adoption of digital marketing. This can be attributed to the growing internet penetration in the U.S., India, China, Japan, the U.K., and Germany. Moreover, most of the businesses are using marketing automation software, which support digital marketing activities, such as relationship management, lead generation and lead scoring, targeted segmentation, and cross-selling & up-selling opportunities.
Growing social media usage is driving the marketing automation software market. According to Global Digital Overview 2020, active social media users stood at 3.80 billion in January 2020, with Y-o-Y growth of 9.2%, as compared to previous year. Currently, social media platforms, such as Facebook, Twitter, and Instagram, are driving new forms of social interaction. The platforms give businesses the ability to easily reach huge number of potential customers. Also, with the help of such software, businesses are able to provide relevant content to the prospective customers based on their clicks and interactions on various social media platforms.
|Base Year (2019) Market Size||$4,057.3 million|
|Forecast Period (2020-2030) CAGR||13.1%|
|Report Coverage||Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Company Share Analysis, Companies’ Strategic Developments, Product Benchmarking, Company Profiling|
|Market Size by Segments||By Offering, By Enterprise, By Deployment, By Application, By Industry, By Region|
|Market Size of Geographies||U.S., Canada, Germany, France, Italy, U.K., Spain, Japan, China, India, Australia, South Korea, Brazil, Mexico, Saudi Arabia, South Africa, U.A.E., Turkey|
|Market Players||Oracle Corporation, SAP SE, Adobe Inc., Teradata Corporation, Salesforce.com Inc., HubSpot Inc., Act-On Software Inc., SAS Institute Inc., Infusion Software Inc., ActiveCampaign LLC, SugarCRM Inc., Acoustic L.P., Liana Technologies Oy, IBM Corporation, Zoho Corporation, Digital Arbitrage Inc.|
|Secondary Sources and References (Partial List)||International Society of Automation (ISA), International Monetary Fund (IMF), Integrated Marketing Association (IMA), Automation Industry Association (AIA), Asia Marketing Federation (AMF), Measurement, Control and Automation Association (MCAA), Association for Advancing Automation, Legal Marketing Association (LMA), American Society of Association Executives (ASAE), Australian Association of Social Marketing (AASM), and Association of Strategic Marketing (ASM)|
Increasing implementation of marketing automation software among SMEs is another major business driver for the marketing automation software market. Presently, SMEs hold a major share of all types of enterprises across the world. For instance, as of 2018, there were around six million SMEs in the U.K., which accounted for over 98% of all businesses. Marketing automation software are majorly used for lead generation, lead monitoring, customer segmentation, and automated email marketing, which help reduce the operational cost of companies through improved efficiency, less interruption, and rework. Hence, marketing automation software market is projected to witness significant demand, owing to vast adoption by SMEs, in order to increase their profitability.
The marketing automation software market is highly competitive in nature, predominantly due to emergence of marketing automation as an essential platform for every B2B (business to business) and B2C (business to consumer) organization for lead nurturing and lead generation. The major players operating in the industry include Adobe Inc., Salesforce.com Inc., SAP SE, Oracle Corporation, and HubSpot Inc.
The marketing automation software market report offers comprehensive market segmentation analysis along with market estimation for the period 2014–2030.
Based on Offering
Based on Enterprise
Based on Deployment
Based on Application
Based on Industry