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Digital Marketing Software Market 2021 Global Analysis, Growth, Size, Share, Trends, Forecast to 2027 | Adobe Systems, Oracle Corporation, SAP AG, Salesforce.Com, INC., IBM Corporation,

United States/New Jersey: The Global Digital Marketing Software Market Continues To Grow Owing To the Increasing Adoption of Smartphones among Consumers

Digital marketing software has been designed to help businesses and marketing professionals achieve their marketing goals through the use of new media, such as the Internet and various other forms of digital channels. Digital marketing refers to the use of different digital marketing tools in order to advertise a product or service. The Internet, for example, has become an extremely popular medium for digital marketing because it is so easy to access, relatively inexpensive, and the demographics of users have changed dramatically, from young adults to parents. Many businesses have recognized the importance of advertising on the Internet and have taken advantage of it; however, many companies still do not have a clue as to how digital marketing works, which is why many people hire digital marketing companies in order to help them get the most out of their marketing dollars.

With the help of the leading players' evolving tactics, the global Digital Marketing Software market has improved technologically for all of its goods. To develop a larger market size, the Digital Marketing Software Market reaches out to targeted consumers in order to sell out the necessary items and services. The application of various technologically sophisticated solutions in the development of items linked with the worldwide Out of Digital Marketing Software Market has been a significant factor in the market's success. This market has a large number of important competitors who are supporting it from all sides in order for it to grow and thrive during the present forecast time range.

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Major Key players in this Market:

Adobe Systems
Oracle Corporation
SAP AG
Salesforce.Com INC.
IBM Corporation
Microsoft Corporation
Hubspot Inc.
SAS Institute Inc.
Act-On Software.

Key Market Drivers:

Increasing revenue generation by research companies in the world is expected to increase the demand in the global digital marketing software market. For instance, according to Nielsen company reports, in 2020 the Nielsen's Connect that covers analytics related to consumer purchasing and measurement generated a revenue of around US$ 2.9 billion worldwide. Moreover, the increasing adoption of smartphones and increasing requirements for services on demand among consumers is estimated to create propulsion in the global digital marketing software market.

Covid-19 Impact Analysis:

The COVID-19 pandemic has urged several businesses to transition their services online and showcase the newly launched products there. This has resulted in brands creating specific content that is relevant and contextual for garnering bigger attention from their client base. For instance, according to YourStory, around 76% of Internet users who are aged 16 to 64 in the surveyed nations stated that they are doing more screen timing when compared to their pre-lockdown screen timing habits. These factors had a very complicated yet positive effect on the growth of the global digital marketing software market.

Key Takeaways:

The size of the global digital marketing software market was estimated at around US$ 49.43 billion in 2020 and a CAGR of 18.2% is projected to grow from 2021 to 2028, owing to the increasing preference among consumers for smart mobile devices, in order to collect information on the go. For instance, according to BankMyCell, in 2018 there were around 2.9 billion smartphones in the world and it increased to 3.2 billion in 2019.
North America is expected to hold a major share of the global digital marketing software market, owing to the increasing product and service launches by key market players in the region. For instance, in September 2020, HubSpot, Inc. announced the launch of new features and updates to its platforms in order to help enterprises in coping with the challenges that are posed by the outbreak of the pandemic. The new additional features include scalable contacts pricing models, expanded personalization functionality, and enterprise sales CRM.
The Asia Pacific is estimated to witness significant growth in the global digital marketing software market, owing to the increasing sales of smartphones in the region along with the development of several market research agencies. For instance, according to The Week, in 2020 around 150 million smartphones were sold in India.

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