Marketing Automation Market worth $9.5 billion by 2027 - Exclusive Report by MarketsandMarkets™
CHICAGO, April 28, 2022 /PRNewswire/ -- According to a research report "Marketing Automation Market with COVID-19 Impact Analysis, by Component (Software, Services), Application (Social Media Marketing, Email Marketing, Inbound Marketing), Deployment Type, Organization Size, Vertical and Region - Global Forecast to 2027", published by MarketsandMarkets™, the Marketing Automation Market size is expected to grow from USD 5.2 billion in 2022 to USD 9.5 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 12.8% during the forecast period. The rising adoption of SMAC technologies, need for personalized marketing to maximize returns by reaching target audience are a few factors driving the growth of the marketing automation market.
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Services help organizations in effective integration and implementation of marketing automation software with the existing in-house infrastructure
The services segment of marketing automation is expected to have a promising future due to various integration of marketing applications. Services help organizations in building successful customer relationships by continuously supporting them through their business tenure. They also benefit the organizations by enhancing the marketing project execution and streamlining marketing operations. The growing need for integrating marketing automation with other enterprise business applications to drive the growth of marketing automation services. These services offered by vendors help users select the best marketing automation software, which is appropriate to their business needs
The Cloud-based marketing automation solutions help reduce the overall costs and provide highly flexible and scalable access to solutions through the IT infrastructure hosted by the cloud service provider.
The rising shift from On-premises to cloud infrastructure is propelling the demand for marketing automation solutions. This is due to various benefits of the cloud that include 24x7 data accessibility, rapid implementation, reduced setup, and operational cost, which is Capital Expenditure (CAPEX) and Operating Expense (OPEX), less maintenance cost, scalability, and ease of use for an organization with limited IT staff and budget. The adoption of cloud deployment has risen to grow substantially over the five years, especially in SMEs, as this deployment type provides features, such as pay-per-use, scalability, and flexibility, and offers reduced installation and maintenance costs. These features are expected to increase the demand for cloud-based marketing automation for improving customers' journeys and brand initiatives.
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The growing demand for social media can increase brand awareness and rise website traffic
The social media marketing application are expected to grow at higher CAGR during the forecast period. Social media automation is the process of using automated tools to improve their social media presence through content curation and scheduling social media posts in advance. Automation tools can help reduce the amount of time spent gathering posts and increase audience engagement
The intensely competitive market scenario has encouraged SMEs to invest in automated solutions to achieve high business efficiency
The SMEs segment is expected to experience a high adoption rate of marketing automation and its associated services. The marketing automation software makes cross-channeling content and strategies easier; saving small businesses even more time and overhead needs without compromising multi-channel reach. SMEs have been majorly dependent on manual processes to manage their resources, such as lead tracking, email marketing, and content creation, majorly due to the lack of awareness and budget constraints.
The growing focus on improving customer experience is driving the demand for omnichannel retailing, which is driving the demand for marketing automation applications
The retail and consumer goods vertical is expected to contribute and grow at the highest rate during the forecast period. Companies are leveraging the industry-ready technology to enhance user experience and ensure customers do not switch to any of their competitors. The industry is expanding through online marketing and looking forward to having more visitors, achieving improved quality traffic, and increasing conversion rates. Thus, marketers are focusing on targeting customers using different online channels and sources to reach out and convert prospects to improve sales.
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North America to dominate the marketing automation market in 2022
North America is one of the most technologically advanced regions in the world. The adoption of the marketing automation solution is expected to be the highest in North America compared to other regions. This is because of the rising expenditure of companies on digital solutions and advanced technologies for automating the marketing tasks, such as product selling, advertising, and product campaigns. The North American marketing automation software market is highly competitive and consists of several major players such as Oracle, Adobe, and IBM, these companies are leveraging strategic collaborative initiatives to increase their market share and profitability
Key Players:
The major Players for Marketing Automation Market includes Adobe (US), IBM (US), Oracle (US), Salesforce (US), Microsoft (US), HubSpot (US), Keap (US), Thryv (US), Sendinblue (France), Teradata (US), Act-On Software (US), ActiveCampaign(US), SAS (US), GetResponse (Poland), SharpSpring (US), ClickDimensions (US).
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