Marketing Automation Market Size to Reach USD 13.32 Billion in 2030 | Emergen Research

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Jan 16, 2023, 12:30 ET

VANCOUVER, BC, Jan. 16, 2023 /PRNewswire/ -- The marketing automation market size reached USD 4.62 Billion in 2021 and is expected to register a CAGR of 12.5% during the forecast period, according to latest analysis by Emergen Research. Growing trend of organizations to optimize spending in marketing is the key factor driving market revenue growth.

Marketing automation industry has seen significant growth in recent years, driven by a growing need for businesses to improve their marketing efficiency and effectiveness. One of the main drivers of this growth is the increasing adoption of automation by Small and Medium-Sized Businesses (SMBs). These companies are using marketing automation tools to help them compete more effectively with larger enterprises. Additionally, with the rise of e-commerce and digital marketing, businesses are also looking for ways to automate and streamline their digital marketing efforts, which is driving demand for marketing automation.

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Drivers:

The rising trend of organizations to optimize spending in marketing is creating high demand for marketing automation in recent years. As organizations look to optimize spending in marketing, they are increasingly turning to marketing automation tools to help them streamline and measure their marketing efforts. These tools allow organizations to automate repetitive tasks, such as email campaigns and social media posts, and to track the performance of their marketing campaigns in real-time. By using marketing automation organizations can save time and money by reducing the need for manual labor, while also being able to target and engage with their customers more effectively.

Additionally, automation also helps organizations to measure their Return on Investment (ROI) more easily. This increased efficiency and effectiveness can lead to increased revenue growth for the organization, as well as for the marketing automation market. Recent studies have shown that on average, marketing automation can lead to a 14.5% increase in sales productivity and a 12.2% reduction in marketing costs. Many businesses have reported positive results from using marketing automation software, with 80% seeing an increase in the number of leads and 77% experiencing an increase in conversions. A large majority of users, 91%, consider marketing automation to be extremely important for the success of their online marketing activities.

Restraints:

One of the main restraints of marketing automation is the cost and complexity of implementation. Setting up and configuring marketing automation systems can be time-consuming and require significant technical expertise. Additionally, marketing automation software can be expensive, and many businesses may not have the budget to invest in these tools. Another restraint of marketing automation is the need for quality data. The automation process is only as good as the data it uses. If the data entered is incomplete, inaccurate or in poor format, the automation process might not work as expected. This can lead to poor targeting, ineffective campaigns, and a lack of ROI. All these factors are expected to restrain revenue growth of the market.

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Growth Projections:

The marketing automation market is expected to register a CAGR of 12.5% over the forecast period and revenue is projected to increase from USD 4.62 Billion in 2021 to USD 13.32 Billion in 2030. Growing adoption of intelligent and conversational chatbots in recent years is expected to drive the revenue growth of the market.

Current Trends and Innovations:

Companies are starting to realize the benefits of using chatbots for marketing and customer service. As technology advances, chatbot conversations are becoming more and more natural, making them an increasingly effective way to interact with customers. Additionally, chatbots can help companies save on costs associated with maintaining a call center that operates 24/7 to answer customer requests quickly. Chatbots are expected to become more intelligent in recent years as more investment is made in conversational AI and Natural Language Processing (NLP) technology. Up to 70% of customer interactions involve emerging technology such as chatbots.

These chatbots can not only help companies save on customer service costs but also enhance customer engagement as part of marketing efforts. Therefore, the growing adoption of intelligent and conversational chatbots among organizations is helping to drive revenue growth for the marketing automation market by enabling businesses to improve their marketing efficiency, increase customer engagement, and boost sales.

Strategic Initiatives:

Major companies included in the market report are IBM Corporation, Cognizant, Oracle Corporation, Marketo, Inc., Salesforce, Inc., HubSpot, Inc., Teradata, SAS Institute Inc., Infusion Software, Inc., and GetResponse.

SAS, a leading provider of business analytics software and services, announced the establishment of a new SAS Customer Intelligence 360 Marketing Cloud Instance in Mumbai to provide its Indian customers with an exceptional service that offers low latency, data privacy, data sovereignty, and local support. This will allow SAS customers to scale up their marketing initiatives and create personalized customer experiences tailored to the unique journey of each customer. The new instance is the fifth of its kind in the world, following similar launches in the US, Europe, Japan, and Australia, and highlights the company's dedication to its Indian customers.

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Scope of Research

Report Details	Outcome
Market size in 2021	USD 4.62 Billion
CAGR (2022–2030)	12,5 %
Revenue forecast to 2030	USD 13.32 Billion
Base year for estimation	2021
Historical data	2019–2020
Forecast period	2022–2030
Quantitative units	Revenue in USD Billion and CAGR in % from 2022 to 2030
Report coverage	Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments covered	Component, deployment, organization size, application, end-use, and region
Regional scope	North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Country scope	U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, Rest of MEA
Key companies profiled	IBM Corporation, Cognizant, Oracle Corporation, Marketo, Inc., Salesforce, Inc., HubSpot, Inc., Teradata, SAS Institute Inc., Infusion Software, Inc., and GetResponse
Customization scope	10 hours of free customization and expert consultation

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Emergen Research has segmented global marketing automation market on the basis of component, deployment, organization size, application, end-use, and region:

Component Outlook (Revenue, USD Billion; 2019-2030)

Software
Service

Deployment Outlook (Revenue, USD Billion; 2019-2030)

Cloud
On-Premises

Organization Size Outlook (Revenue, USD Billion; 2019-2030)

Large Enterprises
Small & Medium Enterprises

Application Outlook (Revenue, USD Billion; 2019-2030)

Campaign Management
Inbound Marketing
Email Marketing
Lead Nurturing & Lead Scoring
Social Media Marketing
Reporting & Analytics
Others

End-Use Outlook (Revenue, USD Billion; 2019-2030)

BFSI
Healthcare
Retail
Telecom & IT
Manufacturing
Government & Education
Others

Regional Outlook (Revenue, USD Billion; 2019–2030)

North America
a. U.S.
b. Canada
c. Mexico
Europe
a. Germany
b. France
c. U.K.
d. Italy
e. Spain
f. Benelux
g. Rest of Europe
Asia Pacific
a. China
b. India
c. Japan
d. South Korea
e. Rest of APAC
Latin America
a. Brazil
b. Rest of LATAM
Middle East & Africa
a. Saudi Arabia
b. UAE
c. South Africa
d. Turkey
e. Rest of MEA

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