Marketing Automation Market Size is Projected To Reach USD 4697.1 Million By 2028 At A CAGR of 7.9% - Valuates Reports
BANGALORE, India, May 27, 2022 /PRNewswire/ -- Marketing Automation Market is segmented By Type - Campaign Management, Email Marketing, Mobile Application, Inbound Marketing, Lead Nurturing and Lead Scoring, Reporting and Analytics, Social Media Marketing, Others, By Application - Large Enterprises, Small and Mid-sized Enterprises (SMEs). It is published in Valuates Reports under the Software Utilities Category.
The global Marketing Automation market size is projected to reach USD 4697.1 million by 2028, from USD 2745.6 million in 2021, at a CAGR of 7.9% during 2022-2028.
Major Factors Driving The Growth of The Marketing Automation Market are
The rising internet penetration, digitization of industries, and extensive use of mobile devices have necessitated the need for automated marketing solutions. In the era of personalized advertising, the need for retention of users and businesses focus on marketing spending to acquire customers.
Furthermore, the rise of big data analytics and accelerated adoption due to covid 19 impact will significantly boost the growth of the market during the review period.
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TRENDS INFLUENCING THE GROWTH OF THE MARKETING AUTOMATION MARKET
The shorter attention span, the rapid pace of digitalization, extensive use of mobile phones, and tighter budgetary control are forcing companies to reinvent the way of marketing and selling products. Personalized content, instant product recommendations, and chatbots are further stimulating the market. The emergence of smart SEO tactics and digital marketing tools will positively impact the marketing automation market during the forecast period.
Enterprises are investing in multi-channel marketing arenas to reach their ideal customers. The huge volume of data and content generated by users help marketers in communicating with the customers by understanding their brand preference. Organizations are using cross-channel, multi-channel networks, email marketing, social media platforms, websites, display ads, etc to improve effectiveness and increase ROI. Routine tasks are automated through this software. These factors will surge the growth of the marketing automation market.
Due to covid 19 impact, many large and small scale enterprises have consolidated and increased their marketing spending. Businesses are reevaluating their advertising, promotional, and media expenditures to maintain a steady flow of revenue. Automation is expected to expand and evolve along with capturing the entire marketing spectrum. This will positively impact the marketing automation market in the near future.
Automated marketing is set to take the digital marketing space by storm. New forms of AI, machine learning, and big data analytics will help in creating better ad campaigns by forecasting trends and predictive analysis. Website chatbots are becoming popular with easy integration and quick capturing of consumer data. Companies will continue to invest in marketing automation tools that will further boost the growth of the market during the review period.
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MARKETING AUTOMATION MARKET SHARE ANALYSIS
Based on type, email marketing will dominate the marketing automation market share with a 32.39% penetration.
Based on application, the large scale enterprises will grow the highest. However, the small and medium scale enterprises will grow the fastest as SMEs are integrating automated tools into their existing systems to reach their ideal customers.
Based on region, North America is expected to maintain the lead in the marketing automation market share due to the presence of social media platforms and rising investments. The US is the biggest market taking up 53.95% of the global share while Europe comes second at 23.84%. However, the Asia-pacific region will grow the fastest due to the rising manufacturing sector, structural changes in digital advertising, and increasing use of smartphones in emerging economies such as China, and India.
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Market By Region
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
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Key players
- HubSpot
- Marketo
- Act-On Software
- Salesforce
- Adobe Systems
- Oracle
- Infusionsoft
- IBM
- Cognizant
- ETrigue
- GreenRope
- Hatchbuck
- IContact
- LeadSquared
- MarcomCentral
- Salesfusion
- SALESmanago
- SAP
- SAS Institute
- SharpSpring
- Aprimo
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SIMILAR REPORTS
- The global Marketing Analytics Software market size is projected to reach USD 2717.6 million by 2027, from USD 1712.2 million in 2020, at a CAGR of 6.4% during 2021-2027.
- The global Marketing Analytics market size is projected to reach USD 6162 million by 2028, from USD 2959.1 million in 2021, at a CAGR of 10.9% during 2022-2028.
- The global Multichannel Campaign Management market size is projected to reach USD 5118.3 million by 2028, from USD 2425.3 million in 2021, at a CAGR of 10.8% during 2022-2028.
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- The global Marketing Automation Solutions market size is projected to reach USD 9204.6 million by 2028, from USD 3293 million in 2021, at a CAGR of 15.6% during 2022-2028.
- The global Marketing Automation Software market size is projected to reach USD 7981.6 million by 2027, from USD 2849 million in 2020, at a CAGR of 15.9% during 2021-2027.
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- The global Captioning and Subtitling Solution market size is projected to reach USD 441.7 million by 2027, from USD 261 million in 2020, at a Compound Annual Growth Rate (CAGR) of 7.7% during the forecast period 2021-2027.
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