Marketing Automation Market To Generate $14,180.6 Million Revenue by 2030

A number of factors, such as the increasing adoption of digital marketing solutions, growing use of social media platforms, and rapid implementation of automation software among SMEs, are expected to drive the marketing automation market at a healthy CAGR of 12.3% during 2020-2030. According to P&S Intelligence, the market was valued at $4,438.7 million in 2020, and it will generate $14,180.6 million revenue by 2030. In recent years, the booming demand for personalized content has become a major market trend.

Business organizations around the world are rapidly adopting automation tools to market and advertise their services and products on multiple online platforms, such as the web, social media, and email, and improve the process of lead nurturing. Both SMEs and large enterprises are heavily investing in digital marketing to target potential customers and expand profit margins. Thus, the soaring focus of enterprises on digital marketing and automation tools will drive the demand for marketing automation solutions and services worldwide.

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In 2020, the solutions category accounted for the larger share in the marketing automation market, within the offering segment, due to the rapid automation of the media and entertainment, retail and e-commerce, IT and telecom, and BFSI sectors. These industries are increasingly adopting automation tools to generate quality leads, effectively manage marketing campaigns, and capture real-time customer data from online channels. Whereas, the services category will witness the faster growth, owing to the soaring demand for system integration, installation, and support and maintenance services to streamline project lifecycle and ensure that regular updates are installed in the software.

Presently, the marketing automation market is fragmented in nature, due to the presence of numerous players. In recent years, key players, such as Salesforce.com Inc., ActiveCampaign LLC, Oracle Corporation, and SAS Institute Inc., have engaged in product launches to gain a competitive edge. For instance, in October 2019, Salesforce.com Inc. unveiled the Lighting Order Management system which provides self-service options for shoppers, an order lifecycle management system, and a comprehensive view of order workflows.

Globally, the North American marketing automation market is expected to generate the highest revenue throughout this decade due to the burgeoning demand for digital marketing, ongoing advancements in cloud computing, and increasing use of automation solutions, especially in the retail sector, in the region. Moreover, the rising use of SEO, CRO, and online PR techniques by enterprises for lead generation and targeting will also drive the demand for marketing automation software in Canada and the U.S.

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Whereas, the APAC marketing automation market is expected to exhibit the fastest growth in this decade, owing to the growing internet penetration, flourishing e-commerce and retail sector, the mounting focus of brands on marketing products online, ongoing advancements in the IT industry, and soaring focus of business entities on using social media platforms for advertising purposes in the region. According to the ITU, 71% of the Chinese population used the internet in 2020 and 41% of the Indian population had access to the internet in 2019.

Therefore, the burgeoning demand for automation solutions and digital marketing from SMEs and large enterprises will contribute to the market growth globally.

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This release was published on openPR.