Press release
Global Market for Marketing Automation Software to Increase by $8625.39 Million by 2028
MARKETING AUTOMATION SOFTWARE MARKET
A recent study by Triton Market Research titled 'Global Marketing Automation Software Market' includes the global analysis and forecasts by Vertical (Advertising and Design, Telecommunication and Information Technology, Healthcare, BFSI, Manufacturing and Distribution, Retail, Others), Deployment (On-premise, Cloud), End-users (SMEs, Large Enterprises), Application (Email Marketing, Campaign Management, Inbound Marketing, Lead Scoring and Lead Nurturing, Reporting and Analytics, Social Media Marketing, Mobile Application, Other Applications), and by Geography (Asia-Pacific, Europe, North America, Latin America, Middle East and Africa).
Marketing Automation Software provides enterprises with digital engagement solutions and the implementation of real-time decision-making.
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Triton's report signifies that the global marketing automation software market will likely grow at a CAGR of 10.34% during the forecasted period 2022-2028. It is further estimated to gain revenue worth $8625.39 million by 2028.
Here's a link to our Regional Reports Summary:
https://www.tritonmarketresearch.com/search-report/MARKETING+AUTOMATION+SOFTWARE+MARKET
Software for marketing automation does the job of reducing the amount of repetitive work associated with traditional marketing procedures. The market for marketing automation software has expanded as a result of the spread of digital marketing across numerous industries and the rising demand for lead sales.
On the other hand, issues related to interoperability extend to database compatibility, which restricts the streamlined marketing processes and customized solutions. Such issues deter many companies from investing in software. Moreover, ownership of the sensitive information contained on digital platforms such as email has raised concerns for the security and privacy of users, thus hindering the growth of the marketing automation software market.
The global marketing automation software market is segmented into deployment, vertical, end-users, and application. In deployment, it is divided into cloud and on-premise. On the other hand, the verticals consist of telecommunication and information technology, advertising and design, healthcare, BFSI, manufacturing and distribution, retail, and others. The end-users of the market include large enterprises and small & medium enterprises. Email marketing, campaign management, inbound marketing, lead scoring, lead nurturing, reporting, analytics, social media marketing, mobile application, and others are market applications.
The Asia-Pacific is expected to witness the fastest growth in the marketing automation software market during the forecasted period. The proliferation of the market in the region owes to the increased software usage in the e-commerce sector and the growth of small and medium enterprises. The region has observed a boost in start-ups that demand marketing solutions and automation tools to expand their business. Moreover, the surge of COVID-19 pandemic in countries like China and India caused a significant transition to the e-commerce websites, resulting in the growth of the marketing automation software market.
The prominent companies in the marketing automation software market are Oracle Corporation, Act On Software Inc, IBM, Cognizant Technology Inc, Salesforce.com Inc, SAP SE, Hubspot Inc, Adobe Inc, Etrigue Corp, GreenRope, SAS Institute Inc, Benchmarkone, and Inside Sales Inc.
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Question & Answer: Marketing Automation Software Market
Question 1: What is contributing to the growth of the global marketing automation software market?
Answer: Marketing automation software carries out the task to minimize the repetition of tasks similar to conventional marketing processes. The expansion of digital marketing across various industries and increasing demand for lead sales have prompted the growth of the marketing automation software market.
Question 2: What factors are hindering the growth of the marketing automation software market?
Answer: On the other hand, issues related to interoperability extend to database compatibility, which restricts the streamlined marketing processes and customized solutions. Such issues deter many companies from investing in software. Moreover, ownership of the sensitive information contained on digital platforms such as email has raised concerns for the security and privacy of users, thus hindering the growth of the marketing automation software market.
Question 3: Which region is expected to witness the fastest growth in the marketing automation software market?
Answer: The Asia-Pacific is expected to witness the fastest growth in the marketing automation software market during the forecasted period. The proliferation of the market in the region owes to the increased software usage in the e-commerce sector and the growth of small and medium enterprises. The region has observed a boost in start-ups that demand marketing solutions and automation tools to expand their business. Moreover, the surge of COVID-19 pandemic in countries like China and India caused a significant transition to the e-commerce websites, resulting in the growth of the marketing automation software market.
Question 4: Which are the prominent companies in the market?
Answer: The prominent companies in the marketing automation software market are Oracle Corporation, Act On Software Inc, IBM, Cognizant Technology Inc, Salesforce.com Inc, SAP SE, Hubspot Inc, Adobe Inc, Etrigue Corp, GreenRope, SAS Institute Inc, Benchmarkone, and Inside Sales Inc.
Related Report
Enterprise Resource Planning Market-
https://www.tritonmarketresearch.com/reports/enterprise-resource-planning-market
The global enterprise resource planning market is estimated to reach $63137.46 million by 2028, growing at a CAGR of 7.28% from 2022 to 2028.
Enterprise resource planning software is adopted widely to enhance business processes. The benefits offered by the multipurpose software, including managing various business activities, inventory handling, supply chain, product planning, human resource, and marketing & sales, have boosted ERP demand.
Additionally, the increasing demand for the development of competitive strategies, efficiency, real-time decision making, and rapid adoption of ERP among many enterprises has driven the market's growth. The cost-effective alternative solution has allowed SMEs to avoid upfront costs and heavy capital investment. Moreover, SaaS-based software is considered the most valuable resource for marketing processes.
However, the easy availability of open-source software has restricted the growth of the marketing automation software market. Top players such as Oracle, SAP, Microsoft, etc., are charging heavily for their services, resulting in poor marketing growth for the companies.
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Triton is a leading market research company providing clients with the best online market research data reports.Our offerings include syndicated market insights, customized research reports, and cost-effective consulting services for constructive decision-making.
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