Digital Marketing Software Market 2023 Top Industry Players - Adobe Systems Inc., Google Corporation, Hewlett Packard Enterprise Development LP

As per the report published by The Brainy Insights, the global digital marketing software market is expected to grow from USD 62.6 billion in 2021 to USD 265.2 billion by 2030, at a CAGR of 17.4% during the forecast period 2022-2030. North America emerged as the largest market for the global digital marketing software market, with a 42.2% share of the market revenue in 2021. The presence of a larger target audience on the digital media platforms drives the growth of the market in the region. Growth in the e-commerce sector also adds impetus to the digital marketing software market.

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Global Digital Marketing Software Market Size By Solution (CRM Software, Marketing Automation, Social Media), By Deployment (On-Premise, Cloud), By Enterprise Size (Large Enterprise, Small and Medium Enterprise), Regions, Global Industry Analysis, By End-use, Share, Growth, Trends, and Forecast 2022 to 2030

Leading companies in the industry include Adobe Systems Inc., Google Corporation, Hewlett Packard Enterprise Development LP, HubSpot, Inc., IBM Corporation, Microsoft Corporation, Oracle Corporation, Salesforce Inc., SAP SE, and SAS Institute Inc. among others which are offering more significant opportunities and are continuously focused on new product developments and venture capital investments to obtain market share.

The solution segment is divided into CRM software, marketing automation, and social media. The CRM software segment dominated the market, with a market share of around 39.3% in 2021. The increasing need for CRM software to manage the consumers' data drives the segment's growth during the forecast period. The deployment segment is divided into on-premise and cloud. Over the forecast period, the cloud-based deployment segment is expected to grow at the fastest CAGR of 19.8%. Cloud-based deployment helps customize the products and services as per the customer's needs. Businesses are increasingly using cloud-based deployment to gain more customers, which drives the market's growth. The enterprise size segment is divided into large enterprises and small and medium enterprises. In 2021, the large enterprises segment accounted for the largest share of the market, with 58% and market revenue of 36.3 billion. Large enterprises use digital marketing software to efficiently manage websites, email marketing, CRM, and content management. The increasing need for digital marketing software to manage the organization's database drives the market's growth in the segment.

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The increasing penetration of the internet and rising sale of smartphones drives the growth of the digital market software market. In addition to this, the outbreak of the covid-19 pandemic added impetus to the market's growth as people were stuck in their homes, and the usage of the internet and phones increased rapidly. However, privacy concerns and data security concerns hamper the market's growth.

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