Marketing Automation Market To Generate $13,974.8 Million Revenue by 2030

The marketing automation market size is expected to advance at a CAGR of 12.8% during 2022–2030, to reach $13,974.8 million by 2030.

The demand for automating marketing solutions has been developing quickly as a result of the digitalization of various industries, increasing internet penetration, and the use of mobile devices. Some other key causes of the market growth are the rising demand for targeted advertising, the need to retain users for business expansion, and the requirement for an informed advertising strategy. The market will also grow as a result of the increasing use of IoT devices, surging adoption of big data and data analytics solutions, and mounting need for corporate automation and insights.

Through the elimination of the repetitive duties of the marketing staff, which allows it to take care of more-critical matters, the technology aids businesses in developing stronger consumer engagement initiatives. The system allows companies to more easily handle lead generation, customer lifecycle marketing, and customer retention.

Consumers now use several methods for gathering information, exchanging ideas, and researching goods and services, before making purchases. They now understand the conventional strategies used by sales & marketing divisions. With the use of technology, they have become smarter and rely significantly on the data found on search engines, blogs, and social media platforms. Thus, companies now aim to forge closer ties with customers, by giving them a good experience, to achieve a competitive edge.

With the emergence of advanced automation technologies, companies are battling a lack of qualified individuals to train them on ways to make the best of analytics solutions. As a result, large businesses are acquiring smaller ones in order to offer marketing cloud, which are integrated software suites, via IaaS and SaaS cloud platforms.

Marketing Automation Is Used Mostly for Lead Management

The lead management category held a significant share, around 35%, in 2022. This is mainly due to the various functionalities offered by lead management software, such as capturing all the potential leads who are browsing the company’s website, monitoring prospective customers’ behavior, offering personalized experiences to customers, and better managing the entire lead lifecycle process. Additionally, the software supports in enhancing the quality of customer data, by gathering all the relevant information from disparate sources, which, in turn, helps companies achieve high revenue growth.

Retail & E-Commerce Industry Is Major User of Such Services and Solutions

The retail & e-commerce category makes the largest contribution to the global market. This is mainly attributed to the growing consumer spending, increasing adoption of online shopping, rising internet penetration, and surging adoption of next-generation technologies, including ML, cognitive computing, and AI, by retail companies. As a result, a large number of retail companies are adopting marketing automation solutions in order to have a competitive advantage and provide better customer experiences.

The BFSI category is projected to register significant growth during the forecast period. This will mainly be due to the increasing focus of financial enterprises on the utilization of data in order to target a greater number of prospects, to achieve lead conversion. With the increasing market competition, the need to promote products and services appropriately, by engaging customers using advanced tools, is being strongly felt by companies. Moreover, the improving consumer awareness, security regulations, and economic and financial conditions are contributing to the increasing deployment of marketing automation software in the BFSI industry across the globe.

The most-significant marketing automation market players are SAP SE, Salesforce Inc., Oracle Corporation, Adobe Inc., Teradata Corporation, HubSpot Inc., SharpSpring Inc., SAS Institute Inc., ActiveCampaign LLC, and Act-On Software Inc.