Marketing Automation Market Size Expected to Grow
New York, May 05, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Marketing Automation Market with COVID-19 Impact Analysis, by Component, Application, Deployment Type, Organization Size, Vertical and Region – Global Forecast to 2027 – https://www.reportlinker.com/p05815474/?utm_source=GNW
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 related 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. The typical cloud deployment 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. 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 posts and increase audience engagement.
Promoting and sharing their products on social media is a simple 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 physical retail stores and offices, and have moved to online marketing of products and services.
As a result, e-commerce accounted for 19% of all retail sales in 2020, up from 16% the previous year, which has 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 over 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.
In the process of determining and verifying the market size for several segments and sub-segments gathered through secondary research, in-depth primary interviews were conducted with the key people.
The distribution of the profiles of the main participants as follows:
• By business type: Level I: 33%, Level II: 42% and Level III: 25%
• By designation: level C: 36%, level D: 45% and other: 19%
• By region: North America: 42%, Europe: 35%, APAC: 15%, Row: 8%
The report profiles the following major vendors:
1. Adobe (US)
2. IBM (USA)
4. Salesforce (US)
6. HubSpot (US)
7. Keap (USA)
8. Thryv (USA)
9. Sendinblue (France)
10. Teradata (USA)
11. Act-On Software (USA)
12. ActiveCampaign (US)
13. SAS (USA)
14. GetResponse (Poland)
15. SharpSpring (USA)
16. Click Dimensions (US)
The report segments the marketing automation market by automation component (software and services), deployment type (on-premises, cloud), application (campaign management, email marketing, lead nurturing and lead scoring, social media marketing, inbound marketing, inbound marketing, analytics and reporting, and other applications), organization size (SMB, large enterprise), industry, and regions. . The component segment includes software and services. Based on applications, the market is segmented into campaign management, email marketing, lead nurturing and lead scoring, social media marketing, inbound marketing, inbound marketing, analytics and reporting, and other applications. Based on deployment type, the market is segmented into on-premises and cloud. The market is segmented on the basis of organization size as SMEs and large enterprises. Different verticals using marketing automation software include BFSI, IT & Telecom, Retail & Consumer Goods, Travel & Hospitality, Healthcare & Life Sciences, education, media and entertainment, manufacturing and other verticals.
The geographical analysis of the marketing automation market is spread over five major regions: North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
Key Benefits of Purchasing the Report
The report will assist market leaders/new entrants in the Marketing Automation market with information on the closest approximations of revenue figures for the overall Marketing Automation market and sub-segments. The report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies.
The report also helps stakeholders understand the pulse of the market and provides them with insights into key market drivers, restraints, challenges, and opportunities.
Read the full report: https://www.reportlinker.com/p05815474/?utm_source=GNW
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