Press release
Global Marketing Automation Software Market to Display 10.34% CAGR by 2028
Global Marketing Automation Software Market
It further discusses the Market Summary, Industry Outlook, Impact of COVID-19, Evolution and Transition of Marketing Automation Software, Key Insights, Porter's Five Forces Model, Market Attractiveness Index, Vendor Scorecard, Industry Components, Regulatory Framework, Drivers, Challenges, Opportunities, Competitive Landscape, Research Methodology & Scope, Global Market Size, Forecasts & Analysis (2022-2028).
Our estimates state that the global market for marketing automation software would expand with 10.34% of CAGR during the forecast period 2022-2028.
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Marketing automation software plays a major role in ensuring enhanced digital engagement, along with real-time decision-making.
Implementing new strategies and making informed decisions is a major issue enterprises worldwide face. The adoption of marketing automation software enables users to reduce the number of repetitive tasks associated with marketing processes and thus improves their overall efficiency. Additionally, with the rapid expansion of digital marketing and realizing the importance of customer experience, organizations are quickly incorporating different marketing software to retain their customers in the long run. All such factors have contributed to the growth of the marketing automation software market significantly.
However, the development of modern technology has raised concerns regarding security, ownership, and privacy for businesses and consumers, hindering the studied market's growth.
Globally, North America holds the largest market for marketing automation software and is likely to maintain its position in the upcoming years. Owing to the rising adoption of cloud computing, digital marketing, and SaaS cloud services, the growth of marketing automation software is boosting in the region. Moreover, multiple businesses in countries like the US are considering marketing automation as a tool that enhances their leads through automated email sequences. This increased fostering of automation software is aiding in the overall development of the market.
The key companies listed in the marketing automation software market are IBM, Oracle Corporation, Salesforce.com Inc, SAP SE, Adobe Inc, Act On Software Inc, Cognizant Technology Inc, Etrigue Corp, GreenRope, SAS Institute Inc, Benchmarkone, Hubspot Inc, and Inside Sales Inc.
Since the market is technology-intensive, new entrants continuously track the progress to match the dynamicity. Also, startups are entering the market by offering customized and flexible features at less price. This approach benefits them at large. Moreover, the presence of global players and their focus on innovation has intensified the market. Cut-throat competition is due to top companies' low entry barriers and constant transformation.
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