$5.2 billion in marketing automation opportunities

Dublin, May 26, 2022 (GLOBE NEWSWIRE) — The “Marketing Automation Market with COVID-19 Impact Analysis, By Component (Software, Services), Application (Social Media Marketing, Email Marketing, Inbound Marketing), Deployment Type, Size organization, vertical and region – Global forecasts to 2027″ report has been added to from ResearchAndMarkets.com offer.

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. Growing business focus on optimizing marketing spend, growing number of marketing channels to reach end customers are a few factors driving the growth of the marketing automation market.

Services enable to benefit organizations by improving marketing project execution and streamlining marketing operations

Services are an integral part of the marketing automation software lifecycle. Services support software functionality, ranging from deployment to management, such as implementation and integration, training and consulting, product upgrade, and support and maintenance. With the growing adoption of marketing automation software, the need for these associated services is expected to increase among businesses as they reduce marketing costs, increase overall revenue, and improve performance. Additionally, marketing automation services help organizations track, assess, and analyze targeted prospects and existing customers.

Scalability and cost-effectiveness are the main factors driving the adoption of cloud-based marketing automation.

While enabling companies to manage their business operations related to the creation, storage, enrichment, management and analysis of digital assets, cloud-based marketing automation solutions can help organizations avoid costs related to hardware, physical storage and technical personnel. Cloud deployment type is expected to grow at a higher CAGR during the forecast period. The cloud-based type of deployment allows users to access the software from anywhere or from any device such as personal computers, laptops and mobiles. Implementing cloud-based marketing automation solution helps SMBs and large enterprises focus on their core competencies rather than IT processes. Cloud-based marketing automation solutions help reduce overall costs and provide highly flexible and scalable access to solutions through the IT infrastructure hosted by the cloud service provider.

Therefore, companies prefer to deploy marketing automation solutions in the cloud to improve mobility and decentralize data storage and computing. Businesses are investing more in the cloud due to the increased need to optimize deployment costs, secure critical data, and manage resources.

Automation tools allow the user to reduce the time spent collecting messages and increase audience engagement.

Promoting and sharing their products on social media is an easy way to improve lead generation, boost conversions, and increase sales. According to Global Web Index, 54% of social browsers use social media to research products. Thus, social media marketing tools are expected to drive the demand for marketing automation software.

Extremely competitive market scenario has encouraged SMEs to invest in automated solutions to achieve high business efficiency

Constrained by limited budgets, reduced IT infrastructure and staff, SMBs are looking for flexible, scalable and cost-effective solutions. Therefore, SMBs are increasingly adopting cloud-based marketing automation solutions to optimize and automate customer communications and outreach.

Marketing automation in the retail and consumer goods industry has particular importance in overall business operations and is expected to deliver a higher return on investment

The retail and consumer goods industry with a large customer base helps predict customer behaviors and patterns through which it delivers personalized experiences to its customers. During the COVID-19 pandemic, businesses have been forced to close their physical retail stores and offices, and have turned to marketing products and services online. As a result, e-commerce accounted for 19% of all retail sales in 2020, up from 16% the previous year, which boosted demand for marketing automation software and services.

North America will dominate the marketing automation market in 2022

The presence of two major economies in North America: the United States and Canada should boost the adoption of marketing tools in the region. Additionally, end-use industries in the region such as BFSI and retail are focusing on improving customer experience and reducing sales cycle, which is expected to drive the market during the forecast period. According to HubSpot, 79% of marketers in North America use inbound marketing as their primary approach. This is expected to boost the demand for marketing automation software in the region. According to Statista, in 2021, North America had approximately 417 million internet users. The region accounts for the largest online audience, which is expected to drive the demand for marketing automation software.

Market dynamics

Drivers

  • Growing adoption of SMAC technologies
  • Need for one-to-one marketing to maximize returns by reaching target audience
  • Increase business focus to optimize marketing spend
  • Growing number of marketing channels to reach end customers

Constraints

  • Security and confidentiality issues of confidential data

Opportunities

  • Increased adoption of AI and IM
  • High adoption of marketing automation solutions by SMBs

Challenges

  • Integration of marketing automation software with other business applications
  • Inconsistent historical data storage format makes data processing difficult for marketing automation vendors
  • Selection of relevant marketing automation software and vendors

Companies cited

  • Acoustic
  • action software
  • Active campaign
  • Adobe
  • Click on dimensions
  • conversion kit
  • Drop
  • Edrone
  • have an answer
  • green rope
  • hubspot
  • IBM
  • I contact
  • Keep
  • Klaviyo
  • Leadsquare
  • Microsoft
  • Net-Results
  • Ometry
  • Omnisend
  • Oracle
  • Selling power
  • SAS
  • sendinblue
  • sharp spring
  • Singlecast
  • Teradata
  • Thryv
  • Vbout
  • zoho

For more information on this report, visit https://www.researchandmarkets.com/r/aj7nh5


        

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