The global marketing automation market is expected to grow from USD 5.31 billion in 2022 to USD 16.23 billion by 2031, at a CAGR of 13.22% during the forecast period 2023-2031.

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The global marketing automation market is expected to grow from USD 5.31 billion in 2022 to USD 16.23 billion by 2031, at a CAGR of 13.22% during the forecast period 2023-2031. The North American region is expected to dominate the market in 2022.

Market Introduction:

Marketing automation software is used for automating marketing tasks of companies. Marketing automation services and software help companies increase efficiency and provide their customers with a personalized experience. Further, the marketing department of any organization can automate their routine processes, including social network posting, email marketing, and ad campaigns. Marketing operations can be completed efficiently with the help of marketing automation. Most companies view marketing automation as a tool for the middle of the funnel, perfect for nurturing prospects with pre-written email sequences. Marketing automation is most effective when it combines software, customer-centricity and strategy. With the help of highly customized, practical content, one can nurture prospects and turn them into profitability for their organization.

Market Dynamics:

Drivers
Increasing use of marketing across industries: Marketing provides companies with customized, time- and location-sensitive information, allowing them to obtain information about the customers. Companies can plan, implement, and control a variety of marketing campaigns that target customers via mobile web browsers, mobile applications, or mobile advertising using marketing automation software. These platforms are frequently used by retail, BFSI, telecom and IT, healthcare, government and education providers to engage mobile users with promotions, coupons, and surveys. Marketing automation software may frequently collect data from mobile users, such as browsing history and location and utilize it to create tailored and timely engagements with existing and future clients. Companies can take instant action with the help of marketing automation, which can result in a quick turnaround in sales or subscriptions. These software solutions can be used with email marketing software and proactive notification software to increase marketing visibility. These factors have contributed to the growth of the marketing automation market.

Restraints:

High cost of marketing automation- The high cost of installation of marketing automation software has hindered market growth. The increased efficiency leads to an increase in price. Marketing automation has a high capital requirement. Many medium-scale and small-scale industries cannot afford the marketing automation of the required capacity. Apart from the high initial cost, the maintenance cost of marketing automation is also hindering the market growth. The maintenance cost is perceived to be an economic burden in many industries.

Opportunities:

Rising adoption of data-centric production approach- Identifying the problem and delivering a focused solution is part of the data-centric approach. This could be accomplished by efficiently collecting more data or improving label consistency in noisy environments. For industrial projects, data-centric design can provide numerous advantages. Large capital project execution is a challenging and time-consuming process that contains multiple moving elements that must all work together to reach a single goal. Marketing automation has been around for a while and is gaining traction in the end-user industry. Adopting a data-centric architecture only alters the way work is carried out in the following phases-feasibility, concept and design foundation and detailed marketing. There are numerous advantages of marketing automation in retail, IT and telecom, etc. industries, ranging from better reach among consumers to more informed decision-making and universal access to data whenever and wherever it is required. Using data as a strategic marketing asset effectively ensures more accurate estimations, observations, and judgments than would otherwise be achievable.

Challenges:

Lack of awareness - The benefits of marketing automation are not well-known in development areas. The employment of such instruments is not well known in these regions' businesses. Furthermore, the owners are cautious about investing in breakthrough technology since they are unsure of the prospective profits. In addition, many people in developing countries are unaware of the advantages of marketing automation in corporate and academic applications. This aspect limits the market's expansion in these areas even further.

Regional segmentation analysis:

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. The North American region emerged as the most significant global marketing automation market, with a revenue share of 41.01% in 2022. The region has a high market growth rate due to an increasing preference towards automation in commercial industries. The North American market will be driven by the investment in artificial intelligence and machine learning to support the marketing automation market. The growing utility of marketing solutions in regional countries has increased the use of marketing automation. The Asia-Pacific region is anticipated to grow lucratively during the forecast period. The market is witnessing a lucrative growth rate due to the increasing use of the internet in countries such as India and China. Further, the rise in IT and telecom industries propel the market growth.

Deployment Segment Analysis

The deployment segment is divided into cloud and on-premise. The cloud segment dominated the market with a revenue share of 65.10% in 2022. Cloud-based marketing automation allows the client companies to use applications, resources or marketing services made on-demand through the provider's server. Marketing automation companies frequently use cloud-based computing to improve functionality, expand capacity, or add new services as needed without having to purchase expensive infrastructure investments.

Component Segment Analysis

The component segment includes services and software. The software segment dominated the market with a revenue share of 62.02% in 2022. Marketing automation software is a solution that provides analytics and insights to help companies find some of the best marketing channels for their product promotion. The marketing automation software also enables effective planning of marketing.

Application Segment Analysis

The application segment includes email marketing, campaign marketing, social media marketing, analytics and reporting, inbound marketing, lead scoring and nurturing, mobile applications and others. The email marketing segment dominated the market with a revenue share of 29.10% in 2022. Emails are now used for a lot of marketing purposes. The method of marketing through emails is critical for smaller, niche firms that are just getting started but don't have as much money to spend on advertising on an e-commerce site.

Organization Size Segment Analysis

The organization size segment includes small and medium-scale organizations and large-scale organizations. The large-scale organization segment dominated the market with a revenue share of 55.02% in 2022. Large enterprises deal in a vast quantity of data they can use to develop marketing strategies. Large-size organizations are keen on adapting new technologies to increase their profitability.

End-user Segment Analysis

The end-user segment includes retail, BFSI, telecom and IT, healthcare, government and education and others. The telecom and IT segment dominated the market with a revenue share of 30.15% in 2022. The telecommunication and IT software industry have witnessed drastic trends over the years. It has been in a transforming development phase for acclimatizing according to the increasing technological advancement.

Some of the Key Market Players:
Adobe Inc.
Microsoft
Act-On Software, Inc.
Cognizant
IBM Corporation
HubSpot, Inc.
Keep
Oracle Corporation
Teradata Corporation
Salesforce.com, Inc.
Acoustic
SendinBlue
Activecampaign
Simply cast
GetResponse
Click Dimensions
SharpSpring

Report Description:

Attribute Description
Market Size Revenue (USD Billion)
Market size value in 2022 USD 8.65 Billion
Market size value in 2032 USD 188.62 Billion
CAGR (2022 to 2032) 36.10%
Historical data 2019-2021
Base Year 2022
Forecast 2023-2032
Regional Segments The regions examined for the market are Europe, Asia Pacific, North America, South America, and Middle East & Africa.
Segments The research segment is based on technology, component, and verticals.

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- Looking Lion
- 1700 Northside Drive Suite A7
- media@lookinglion.org
- Malcolm Cesar

Looking Lion was created by Malcolm G. Cesar as a U.S. based media channel that helps businesses scale with marketing funnels and sales automation.

As more B2B marketers are making the switch to an automated, data-driven approach to lead generation, they need help building their own marketing funnels.

Looking Lion teaches you how to do just that. You can soon reach out to the Looking Lion team on Twitter and Facebook where we will be sharing more industry knowledge on business development.

This release was published on openPR.