Press release
Marketing Cloud Platform Market expected to grow at a CAGR of 13.7% and to garner $34.9 billion by 2031
Marketing Cloud Platform Market
The marketing cloud platform market was valued at $10 billion in 2021, and is estimated to reach $34.9 billion by 2031, growing at a CAGR of 13.7% from 2022 to 2031.
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Marketing cloud platform provides elevated business performance due to various benefits such as agile deployment, secured storage management, low total cost ownership; utility-based sharing models, and high-level computing. However, there are some factors that are limiting the growth of the market; data security being the most significant one due to threat of data breaches and misusage by any third party.
The SMEs segment is expected to experience fastest growth in the coming years, owing to adoption of cloud-based marketing services and rise in number of government initiatives through various digital SME campaigns throughout the world fuel the growth of the market.
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Competitive Analysis:
The competitive environment of Marketing Cloud Platform Industry is further examined in the report. It includes details about the key players in the market's strengths, product portfolio, Marketing Cloud Platform Market share and size analysis, operational results, and market positioning. It comprises the actions taken by the players to grow and expand their presence through agreements and entering new business sectors. Mergers and acquisitions, joint ventures, and product launches are some of the other techniques used by players.
Key Players:
Acquia, Inc.
Adobe
CM Group
IBM Corporation
Maropost
Oracle Corporation
Salesforce, Inc.
SAP SE
Teradata Corporation
The Nielson Company (US), LLC and Many More
Region wise, North America dominated the market share in 2021 for the marketing cloud platform market. Adoption of marketing cloud platform growing steadily to meet increasing demands from today's businesses to enhance their business process and improve the customer experience will provide lucrative opportunities for the market in this region. However, Asia-Pacific is expected to exhibit highest growth during the forecast period. This is attributed to increase in penetration of advanced technology such as AI, big data and IoT and higher adoption of cloud-based solution and services are particularly fueling regional market growth.
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The outbreak of COVID-19 will surely provide numerous opportunities for the market to grow in the forecasted period. These opportunities include the rise in digital transformation trend in the enterprises; upsurge in adoption of cloud-based solutions by small businesses; and upsurge in demand for ERP solutions that are hosted or managed in the cloud.
Moreover, the surge in remote work trend across the enterprises due to COVID-19 is one of the key opportunities for the market growth due to the mobile or remote accessibility capabilities of cloud-based solutions. Furthermore, it is anticipated that, during the post pandemic, the companies will focus more on solutions which will support advanced planning and mitigate the impact of similar events in the future. Hence, the companies will accelerate their investments in marketing cloud platform, creating lucrative growth opportunities for the market.
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