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Digital Marketing Software Market touched USD 40 billion in 2019 and will increase at 18.4% CAGR till 2027 | Size, Share & Forecast
Digital Marketing Software Market
The Digital Marketing Software Market was valued around USD 40 billion in 2019 and is estimated to grow at a CAGR of 18.4% over the forecast period (2020-2027).
For Additional Insights, Click to Access Complete Report - https://www.gmiresearch.com/report/digital-marketing-software-market-analysis-industry-research/
The factors driving the growth of Digital Marketing Software Market includes increasing penetration of smartphones and laptops, growing preference for mobile and social media marketing, rising use of digital marketing software to enterprise to strengthen the customer relationships. According to the report publish by Statista, the smartphone penetration rates in India was estimated around 46.44% in 2019 and is expected to reach 96 percent by the end of 2040, which will accelerate the Digital Marketing Software Market size in the approaching years. Moreover, growing adoption of advanced technologies by organizations such as Artificial Intelligence (AI) and Machine Learning (ML), Government initiatives to promote digitalization and rising trend of online shopping, are some of the additional factors supplementing the Global Digital Marketing Software Market. In addition, the increasing investments by leading players on research and development, technological innovations in the digital marketing software, rapid urbanization, rising disposable incomes and growing population growth rates, are further contributing to the market growth.
However, growth of the Digital Marketing Software Market is hindered due to insufficient availability of skilled workforce.
The leading players operating in the Digital Marketing Software Market are International Business Machines Corporation, Microsoft Corporation, Oracle Corporation, Cognizant Technology Solutions Corporation, Synup Corporation, SAP SE, SAS Institute Inc., Alphabet Inc., Salesforce.com Inc., and HubSpot Inc. among others.
Based on Deployment, the Cloud segment is predicted to grow at a significant CAGR during thee forecast period
Cloud based digital marketing software minimizes the cost of infrastructure and helps in creating efficient marketing campaigns on social media platforms, are some of the factors responsible for the segment's growth.
Based on Type, the E-mail Marketing segment is projected to expand at a robust CAGR over the forecast period
Email marketing helps in creating personalized content, collect feedback of the client, improve sales and increases leads for businesses, are some of the factors propelling growth of the segment.
Based on Region, the Asia-Pacific region is anticipated to grow at a remarkable CAGR during the forecast period
Growing adoption of advanced technologies by major companies, rapid growth in the e-commerce industry, growing preference for online shopping, increasing per capita income and high population growth rates, are some of the important factors augmenting the market growth in Asia-Pacific region.
Key Development
In 2019, Synup Corporation introduced the Intent Marketing Cloud, a next-generation customer acquisition platform, which will help companies to enhance their brand building, reputation management, and customer acquisition across their entire digital presence.
In 2020, Cognizant Technology Solutions Corporation completed the acquisition of Lev, a digital marketing consultancy in the U.S., which will help businesses to simplify and modernize their marketing campaigns using Salesforce Marketing Cloud for data-driven insight.
Market Segmentation
Segmentation by Deployment
On-Premise
Cloud
Segmentation by Type
Search Engine Software
Content Marketing Software
Social Media Marketing
E-mail Marketing
Mobile Marketing
Marketing Automation Software
Others
Segmentation by End-Use Industry
IT and Telecom
Media and Entertainment
BFSI
Retail
Manufacturing
Healthcare
Others
Segmentation by Region
Asia Pacific
China
Japan
India
Rest of APAC
North America
United States of America
Canada
Europe
United Kingdom
Germany
France
Spain
Rest of Europe
RoW
Brazil
South Africa
Saudi Arabia
UAE
About GMI Research
GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.
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