Digital Marketing Software Market Expected to Reach USD 181.0 Billion by 2030 |Top Players such as - Adobe, HubSpot and Salesforce

According to the report published by Allied Market Research, The Digital Marketing Software Market Expected to Reach USD 181.0 Billion by 2030 |Top Players such as - Adobe, HubSpot and Salesforce. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions.

Rise in demand for online video games, growth in ICT expenditure, and the rising use of social media marketing drive the growth of the global digital media production software market. However, high initial investments and cyber security threats are responsible for hampering the growth of the digital media production software market. On the contrary, increasing penetration of digital marketing is anticipated to provide growth opportunities during the forecast period.

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Based on deployment mode, the on-premise segment held the highest market share in 2021, accounting for nearly three-fifths of the global digital media production software market, as it provides added security of data. However, the cloud segment is projected to manifest the highest CAGR of 15.2% during the forecast period and is estimated to maintain its leadership status in 2031, as cloud provides flexibility, scalability, complete visibility and efficiency of all processes.

Based on application, the digital advertising segment accounted for the largest share in 2021, contributing to nearly half of the global digital media production software market, and is projected to maintain its lead position during the forecast period. This is owing to rise in digital technology for marketing. However, the e-learning segment is expected to portray the largest CAGR of 17.1% from 2022 to 2031, owing to the growing innovation and technological investments by educational institutes.

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By region, the global digital marketing software market is being dominated by North America in 2020, and is expected to maintain this trend during the forecast period. The region witnessed immense potential growth in the digital marketing software market owing to increase in demand from the media & entertainment industries in the region.

The key players profiled in the digital marketing software market analysis are Adobe, Google Corporation, Hewlett Packard Enterprise Development LP, HubSpot, Inc., IBM Corporation, Microsoft Corporation, Oracle Corporation, Salesforce, Inc., SAP SE, and SAS Institute Inc. These players adopt various strategies to increase their market penetration and strengthen their position in the industry.

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Covid-19 Scenario

⁕ The outbreak of the Covid-19 pandemic had a positive impact on the global digital media production software market, owing to a sudden increase in demand for digital media during the lockdown.

⁕ Increase in work from home culture and social distancing norms helped in promoting demand for digital media production platforms during the pandemic, which further managed to continue even after the reduction in number of COVID-19 cases in late 2021.

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