The global digital marketing market size is projected to reach US$315.97 billion by 2025, driven by the growth of the eCommerce industry, increasing customer expectations, and changing retail landscape. Digital marketing solutions will be increasingly required to achieve business objectives and deliver differentiating and competitive messages to their customers.
The future of the Digital Marketing Software Market is expected to grow at a CAGR of 30.3%, the market size in the year 2025 is projected to reach $XX billion and by that time, many companies will compete to acquire a larger market share.
Digital Marketing Software Market Growth & Trends
The global digital marketing software market size is expected to reach USD 182.21 billion by 2028, registering a CAGR of 18.2% from 2021 to 2028. The growth can be attributed to the unabated transition from desktops to smartphones as the rapid increase in the number of smartphone users would expose more individuals to online ads. The demand for digital marketing software is expected to increase over the forecast period as smartphones and mobile devices continue to proliferate and communication and exchange of information continue to get more convenient and efficient than before.
The digital marketing software market has been evolving continuously in line with the advances in technology and the changing needs of the incumbents of various end-use industries and industry verticals, especially small and medium enterprises. Several vendors are striking strategic partnerships with end-users and helping them in strengthening their digital marketing activities.
For instance, in May 2018, Marketo, Inc. announced a partnership with The Pedowitz Group, a revenue marketing consulting firm based in the U.S. in Atlanta, Georgia. The partnership was aimed at operationalizing business accountability, bringing about digital transformation, and enhancing the experience for mid-market manufacturing firms.
Customers are increasingly getting dependent on the latest, advanced technologies to ensure business continuity amid the challenges posed by the outbreak of the COVID-19 pandemic and the subsequent disruptions in supply chains, the growing preference for working-from-home policies, and the evolving customer expectations and preferences. As such, the economic uncertainties stemming from the outbreak of the pandemic are particularly prompting business software vendors and service providers to focus on pursuing customer service-driven strategies and assisting customers in their digital journey.
At the same time, brands are also switching from offline marketing to online marketing in the wake of the outbreak of the pandemic.
Digital Marketing Software Market Report Highlights
• The adoption of marketing automation software is anticipated to gain traction over the forecast period as activities, such as lead nurturing and collaboration among marketing teams, continue to be pursued aggressively
• The managed services segment is anticipated to register the highest CAGR from 2021 to 2028. The growth can be attributed to the benefits, such as remote monitoring and cost-effective management of IT infrastructure through subscription-based pricing models, associated with the adoption of managed services
• The cloud segment is expected to register significant growth over the forecast period owing to the cost-effectiveness and convenient accessibility facilitated by the cloud deployment model
• The SMEs segment is anticipated to register the highest CAGR from 2021 to 2028 owing to the aggressive adoption of social media platforms, such as Facebook, Pinterest, and Instagram, among others, by SMEs for sales and promotional activities
• the Asia Pacific is anticipated to register the highest growth rate over the forecast period, owing to the increasing popularity of social media and the rising preference for e-commerce and m-commerce, particularly in emerging economies, such as India, Indonesia, and Thailand
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The global digital marketing software market reached a value of US$ 48.3 Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 16.3% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Digital marketing is a multifaceted approach to promoting brands, goods, and services using the internet and electronic media. It relies on different channels, such as instant messaging (IM), social media platforms, websites, and mobile applications, to improve consumer engagement. It is generally conducted using software that helps generate reports and analytics, create landing pages and perform other types of promotion activities. Digital marketing software also assists in reaching targeted audiences and building brand loyalty.
Rapid digitization across various business verticals, in confluence with the increasing focus on expanding global consumer reach, represents one of the key factors bolstering market growth. Apart from this, with the rising penetration of the internet, increasing sales of smartphones, and the growing influence of social networking sites, companies are utilizing digital marketing strategies to analyze consumer behavior and preferences in real-time. This further helps improve opportunities for marketers to offer customized solutions and strengthen their consumer relationships. Furthermore, as digital marketing cost-effectively provides access to mass audiences, it is gaining traction across small and medium enterprises (SMEs) worldwide. Moreover, retailers are adopting location-based advertising to give consumers personalized updates on offers, discounts and new products, which is further contributing to the market growth. Besides this, due to the coronavirus disease (COVID-19) outbreak and consequent lockdowns imposed by governments of various countries, there is a rise in the demand for online shopping and entertainment services around the world. As a result, several companies are shifting towards e-commerce channels to sell their products and adopting digital marketing strategies to advertise their goods and services remotely.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global digital marketing software market report, along with forecasts for growth at the global, regional, and country-level from 2021-2026. Our report has categorized the market based on solution, service, deployment type, organization size, and end-use.
Breakup by Solution:
- Customer Relationship Management (CRM)
- Email Marketing
- Social Media
- Search Marketing
- Content Management
- Marketing Automation
- Campaign Management
Breakup by Service:
- Professional Services
- Managed Services
Breakup by Deployment Type:
Breakup by Organization Size:
- Large Enterprises
- Small and Medium Enterprises (SMEs)
Breakup by End-Use:
- Media and Entertainment
- Information Technology
Breakup by Region:
- North America
- United States
- Asia Pacific
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
Key Market Players
Adobe Systems Incorporated (US), Oracle Corporation (US), SAP SE (Germany), Salesforce.com, inc. (US), IBM Corporation (US), Marketo, Inc. (US), Microsoft Corporation (US), HubSpot Inc. (US), SAS Institute Inc. (US), Act-On Software (US), and SimplyCast (Canada).
Adobe Systems, one of the leading providers of analytics, social targeting, media optimization, digital experience management, cross-channel campaign management, audience management, and video solutions was founded in 1982 and is headquartered in California US. Adobe Systems caters to digital marketing through its analytics solutions, such as Experience Cloud, Advertising Cloud, Analytics Cloud, and Marketing Cloud. Adobe Marketing Cloud offers Adobe Analytics, which provides various capabilities, such as predictive marketing, customer churn analysis, advanced segmentation, mobile analytics, marketing attribution, big data analytics, social analytics, audience optimization, real-time web analytics, offline marketing channels, and advanced visualization. These capabilities collaboratively provide a robust solution to enable digital marketers to engage customers across all touchpoints. Adobe provides its products and solutions through the cloud deployment. The product is offered as per user’s requirements and can be a SaaS or managed service, depending upon the product edition (standard or premium).
- In September 2017, Salesforce launched Sales Cloud Einstein Forecasting to provide sales forecasts on its CRM platform. The Einstein Forecasting uses self-learning algorithms to provide sales forecasts to optimize marketing and aid in decision-making.
- In September 2017, HubSpot acquired Motion AI, one of the prominent chatbot builders. This acquisition was done with the aim of building a technology that can help SMEs grow and evolve with the changing consumer behaviours.
- In September 2017, Oracle partnered with WeChat, a social media platform. This partnership enabled marketers to deliver connected and personalized experiences in China and other countries across the globe by seamlessly extending the capabilities of Oracle Eloqua, including powerful campaign design, delivery, and monitoring capabilities, to WeChat.
Critical questions the report answers:
- Where will all these developments take the industry in the long term?
- What are the upcoming trends for the Digital Marketing Software Market?
- Which segment provides the most opportunity for growth?
- Who are the leading vendors operating in this market?
- What are the opportunities for new market entrants?
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The digital marketing market is highly competitive and growing rapidly. Key players in the global digital marketing software market include Adobe, Oracle, IBM, Salesforce and Adobe LiveCycle. Logically, the analysis of the global digital marketing software market begins with a study of its macroeconomic parameters such as economic growth, inflation rates, and current account balance. The macroeconomic analysis provides the foundation for knowledge of how the various sectors of the economy will perform.