The latest report by IMARC Group, titled “Marketing Resource Management Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” finds that the global marketing resource management market reached a value of US$ 3.7 Billion in 2022. Marketing resource management (MRM) refers to the technology that enables businesses to streamline their marketing operations. This software is used to efficiently handle the production, planning, and designing of various marketing processes. These processes include workforce, brand, content, and financial management. MRM is integrated with artificial intelligence (AI) and machine learning (ML) technologies, which aid marketers in taking control of their marketing initiatives and tasks. It also runs strategic programs, tackles potential threats, activities, and forecasts. In recent years, MRM has gained popularity across different end use industries with the rising focus on sophisticated marketing processes and the need to enhance business revenues.
Global Marketing Resource Management Market Trends:
The market is primarily driven by the increasing number of marketing activities among organizations that are looking to manage complex activities and optimally promote their brand and products. In addition, the rising diversity in delivery channels is also propelling the market growth. For instance, in large-scale enterprises, MRM solutions are deployed with higher budgets dedicated to marketing activities, offering real-time updates and secure access to organizational data with digital accounts. On the other hand, even small and medium enterprises (SMEs) are rapidly adopting these solutions to gain maximum return from their marketing practices. Besides this, the market is gaining traction due to the integration of big data sets and the Internet of Things (IoT) into business operations. Furthermore, the introduction of software-as-a-service (SaaS)-based applications and rapid digitization are also providing a positive thrust to the market. Looking forward, the market is expected to grow at a CAGR of 10.8% during the forecast period (2023-2028).
- Based on the solution type, the market has been segmented into marketing reporting and analytics, capacity planning management, financial management, creative production management, brand and advertising management, marketing asset management, and others.
- On the basis of the deployment type, the market has been classified into cloud-based and on-premises.
- The market has been categorized based on the end user into large, and small and medium enterprises.
- On the basis of the vertical, the market has been segregated into media and entertainment, retail, BFSI, healthcare, consumer goods, automotive, manufacturing, apparel, and others.
- Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has been examined, with some of the key players being Adobe Inc., BrandMaker Inc., IBM Corporation, Infor, Microsoft Corporation, North Plain Systems, SAP SE, SAS Institute Inc., Teradata Corporation, and Workfront Inc.
|Base Year of the Analysis
||Solution Type, Deployment Type, End-User, Vertical, Region
||Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Adobe, Brandmaker, IBM Corporation, Infor, Microsoft Corporation, North Plain Systems, SAP SE, SAS, Teradata Corporation and Workfront Inc.
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