According to a new market research report “Global Marketing Automation Software Market Size, Share, Development, Growth and Demand Forecast to 2023 - Industry Insights by Solution (Campaign Management, E-mail Marketing, Lead Nurturing, Inbound Marketing, Reporting and Analytics, Social Media Marketing, and Others), by Industry Vertical (Academic and Education, Advertising and Media, BFSI, Healthcare, Technology, Manufacturing and Distribution, Retail, and Others) by Deployment Type (Cloud and On-premise) by Business Size (Small and Medium Business, and Large Business)”, published by P&S Market Research, the global marketing automation software market is projected to reach $6,929.7 million by 2023, growing at a CAGR of 8.5%, during 2017 - 2023.
Browse Report Description at: https://www.psmarketresearch.com/market-analysis/marketing-automation-software-market
Global Marketing Automation Software Market worth $3,943.2 million in 2016
The study reveals that the global marketing automation software market is likely to grow from $3,943.2 million in 2016 to $6,929.7 million by 2023, on account of growing demand for greater digital customer experience, and automated customer retention.
Insights on market segments
As per findings of the research, e-mail marketing segment has been the leading contributor to the global marketing automation software market; however, demand for marketing automation software from technology industry is expected to grow at the fastest pace during the forecast period.
North America stands as the largest marketing automation software market
Geographically, North America has been the largest market for marketing automation software, across the globe, while Asia-Pacific is expected to grow at the fastest rate during the forecast period.
Growing need for personalized mails and enhanced digital customer experience to elevate Global Marketing Automation Software Market growth
Factors driving the global marketing automation software market include growing demand for digital experience for customers, adoption of customer scoring system, and increased need of personalized automated e-mails.
Globally, with rapidly increasing digital environment, personal attention towards customers matters the most to the businesses. Marketing automation helps in reaching out to the customers, digitally, by monitoring user’s choice of products through the data collected from the automation software. It further helps in predicting the potential customers for additional sales. Some of the major trends observed in the global marketing automation software market are dynamic campaign management and integrated content marketing.
Marketing automation help the marketers in designing the campaigns without any technical or programming expertise, with a single drop and drag interface. While many platforms have difficulties in changing live and real-time campaigns, the tools provided by the marketing automation software allow changes and updates in such campaigns easily, without creating a new campaign.
With large variety of content and wide range of communication channels, having an integrated content marketing approach is helping out sales and marketing teams to achieve their business goals. Integrated content marketing enables marketers by ensuring consistent messaging, which is one of the keys to generate and enhance brand awareness and generate higher demand. In simple terms, integrated content marketing approach delivers the right message to the right audience, through the right channel and at the right time.
Further, emergence of account based marketing is also a trend being observed in the global marketing automation software market. ABM platforms are capable of being integrated with a CRM or marketing automation tool, and enable marketers to run campaigns targeting accounts while delivering a higher return on investment (ROI) than other approaches.
Opportunities for the growth of global marketing automation software market include predictive intelligence in marketing automation as it has huge potential to make the market platform more scalable, faster and responsive through predictive technology.
Future marketing automation platforms are expected to be more intelligent and capable of accommodating more specialized applications through predictive integrations. On account of this, automation platforms can utilize more data in order to deliver more relevant recommendations to the marketers.
Moderate competition among players in the global marketing automation software market
The research states that the global marketing automation software market is competitive with many players introducing their product offerings. Some of the key players operating 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.
Product launches, strategic partnerships, and product enhancements have been the major recent developments in the global marketing automation software market. Act-On Software, which is a provider of marketing automation announced the launch of its account based marketing (ABM) automation solution. The new solution aims to provide B2B marketers with the ability to orchestrate an automated, multi-channel ABM strategy. This include building brand awareness to driving the demand and through higher customer retention.
GLOBAL MARKETING AUTOMATION SOFTWARE MARKET SEGMENTATION
By Industry Vertical
By Deployment Type
By Business Size