According to the latest report by IMARC Group, titled "Marketing Automation Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global marketing automation market reached a value of US$ 4.4 Billion in 2021. Marketing automation refers to the technology that enables marketers to develop highly efficient solutions for managing repetitive tasks. It involves the use of integrated tools that assist organizations in launching effective marketing campaigns in an attempt to target their ever-evolving customer base across diverse marketing segments. Marketing automation also provides real-time customer insights and identifies customer data transactions and multichannel behavior that ultimately helps in formulating effective business strategies. Apart from this, its use aids in building better customer engagement by assisting the workforce on focusing on critical business aspects. As a result, it is increasingly being used for email marketing, marketing analytics, lead management, distribution management, social media marketing, and customer relationship management.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Marketing Automation Market:
The global market is primarily driven by the rapid digitization across numerous industry verticals, in confluence with the rising penetration of high-speed internet connectivity, smart devices and social media platforms across the globe. Marketing automation software is increasingly deployed across various small and medium-sized enterprises (SMEs) to streamline monotonous tasks and workflows in an efficient manner to increase the overall revenue as well as retain and expand their existing customer base. Moreover, there has been a considerable rise in the adoption of several digital marketing solutions, such as content marketing, search engine optimization (SEO), search engine marketing (SEM), and pay per click advertising (PPC) and social media marketing. This, along with the rising need to deliver personalized and targeted communications to the customers, is expected to create numerous growth opportunities in the market. The market is further driven by the increasing adoption of big data, data analytics and the Internet of Things (IoT) across various businesses. Coupled with the escalating integration of artificial intelligence (AI) with marketing automation software, this is creating a positive outlook for the market. Some of the other factors contributing to the market growth include the growing volume of online data and the increasing utilization of marketing automation tools in the healthcare and banking, financial services and insurance (BFSI) sectors. Looking forward, IMARC Group expects the market to grow at a CAGR of 18.23% during 2022-2027.
- On the basis of the component type, the market has been bifurcated into software and services.
- Based on the deployment type, the market has been divided into on-premises and cloud-based.
- On the basis of the end user, the market has been classified into SMEs and large enterprises.
- Based on the application, the market has been segmented into campaign management, email marketing, lead nurturing and lead scoring, social media marketing, inbound marketing, and others.
- On the basis of the vertical, the market has been categorized into BFSI, retail, healthcare, IT and telecom, government, entertainment and media, education, and others.
- On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include Activecampaign LLC, Act-On Software Inc., Adobe Inc., Cognizant Technology Solutions Corporation, Hubspot Inc., International Business Machines Corporation, Oracle Corporation, Salesforce.com Inc., SAP SE, SAS Institute Inc., and Teradata Corporation.
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