"Overview of Marketing Automation Software Market"
The Marketing Automation Software Market is projected to reach US$ 7.2 Bn by 2027, growing at a CAGR Of 14.2 % during the Forecast Period.
The global Marketing Automation Software market is anticipated to grow at a significant CAGR during the forecast period. Some of the factors fuelling the growth of global market include inclination towards business automation, rising awareness regarding customer relationship management, growing advertising and marketing industry, and technological advancement in the marketing sector.
Advantages Associated with Marketing Automation Software is Fuelling the Market Growth
The marketing automation software offers increased return of investment, enhanced customer satisfaction, channel agnosticism, a significant amount of lead generation, and optimized performance which is anticipated to surge the demand for the software across the globe. The software eliminates repetitive tasks by replacing it with an automated solution which results in increased productivity and profit margins. Moreover, manufacturers are engaged in research and development activities to develop an innovative solution with advanced features. This is in response to growing demand from different industry verticals which is expected to put a positive impact on the growth of global marketing automation software market during the forecast period. However, the high initial cost associated with marketing automation software and lack of analytical skills might hamper the growth of global market to a minimal extent.
SMEs Segment is the Largest Share Holder in Global Marketing Automation Software Market
Based on enterprise size, small and medium-sized enterprises are estimated to show the fastest growth during the forecast period. The growth of the segment can be attributed to the rising competition among SMEs which influences them to automate their marketing process to gain a competitive edge. The software enables enterprises to increase their conversion rate by targeting the right prospect. Therefore, SMEs are continuously deploying low-cost marketing software to increase their efficiency and productivity.
By Application, Lead scoring and Lead nurturing Segment Held Significant Share in 2018
By application, the lead scoring and lead nurturing segment dominates the global market by holding significant market share in 2018. The segment is expected to maintain its dominance throughout the forecast period. The application enables the enterprises to define the most effective leads and allow the sales and marketing team to get a better understanding of the target. This results in increased deployment of the software to enhance productivity which is anticipated to fuel the growth of the segment in the coming years. Moreover, the rising number of lead generation companies is expected to favor the growth of the segment.
North America Marketing Automation Software held significant Share in Global Automation Software Market in 2018
In terms of region, the global market is dominated by North America, accounting for a larger market share in 2018. The rising demand from enterprises to automate their marketing channels and gain a strategic marketing approach is estimated to fuel the growth of the region. The software enables the companies to promote relevant and valuable content intended to expand their customer base which is anticipated to create new opportunities for regional growth.
On the other hand, Asia Pacific is projected to witness the highest growth rate during the forecast period. The growth of the region can be attributed to the huge investment in research and development activities in the marketing sector and inclination towards marketing automation processes across the region.
The global almond ingredient market is highly competitive as the market is fragmented with several global and regional players. Most of the major companies are located in North America which leads to regional growth to a major extent. The companies are adopting several strategies to expand their foothold in global market.
In September 2018, Adobe System Inc. announced to acquire Marketo, one of the leading companies in the marketing automation sector. The deal was one of the largest acquisitions worth US$ 4.75 billion. The acquisition will help the company to enhance its portfolio and expand its customer base across the globe.
In May 2019, SugarCRM announced the acquisition of Salesfusion, an Atlanta-based company specialized in providing SaaS marketing automation solutions. The acquisition was intended to expand its existing portfolio for a marketing automation solution.
Some of the prominent companies operating in global Marketing Automation Software market include Net-Results, HubSpot, ClickDimensions, Adobe, SimplyCast, Oracle, SharpSpring, Salesforce, Ontraport, ActiveCampaign, GetResponse, Acoustic, Keap, SAS, LeadSquared, Sendinblue, and Act-On Software.
Global Marketing Automation Software Market, by Deployment Type
- On Premise
Global Marketing Automation Software Market, by Organization Size
- Large Enterprises
- Small & Medium Enterprises
Global Marketing Automation Software Market, by Application
- Campaign Management
- Reporting & Analytics
- Email Marketing
- Inbound Marketing
- Social Media Marketing
- Lead Scoring & Lead Nurturing
Global Marketing Automation Software Market, by Region
- North America
- Asia Pacific
- Middle East & Africa
- Latin America