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Digital Marketing Software Market Trends & Insights 2024-2033
Digital Marketing Software Market
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According to The Business Research Company's, The digital marketing software market size has grown rapidly in recent years. It will grow from $79.07 billion in 2023 to $94.78 billion in 2024 at a compound annual growth rate (CAGR) of 19.9%. The growth in the historic period can be attributed to emergence of online platforms, data analytics advancements, mobile device proliferation, social media influence, globalization and market expansion.
The digital marketing software market size is expected to see exponential growth in the next few years. It will grow to $203.49 billion in 2028 at a compound annual growth rate (CAGR) of 21.0%. The growth in the forecast period can be attributed to e-commerce expansion, privacy and compliance focus, expansion of video marketing, emergence of new marketing channels, integration with corm and sales tools. Major trends in the forecast period include AI and machine learning integration, increasing digitalization, technological advancements, multi-channel marketing, customer experience (CX) focus.
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Market Drivers and Trends:
The rising popularity of location-based, video, and social media advertising is expected to propel the growth of the digital marketing software market going forward. Location-based advertising refers to the practice of delivering targeted ads to consumers based on their geographic location. Social media platforms like Facebook and Instagram offer location-based advertising options that allow businesses to target users based on their location data. Due to the visual aspect of social media networks, individuals can establish a visual identity and increase brand exposure across large audiences. A component of its digital transition is the sales and marketing section. For instance, in April 2023, according to Hootsuite, a Canada-based software company, more than 4.74 billion people across the world used social media, and in 2022, the number of social media users increased by 4.2%. Therefore, the rising popularity of location-based, video, and social media advertising is driving the growth of the digital marketing software market.
Major companies operating in the digital marketing software market are developing innovative technology such as Globant Create, which helps brands leverage the best of AI and technology into creativity and marketing. Globant Create is a studio that combines creativity, marketing, and media with AI, data, and other cutting-edge technologies to develop full 360 marketing strategies. For instance, in May 2023, Globant, a New York-based software development company, launched Globant Create, which will provide fresh methods for surprising and attracting users to both present and future customers. The dynamic nature of technology and the rapid expansion of AI-driven digital products have raised customer expectations for superior digital experiences in all sectors of the economy. Globant Create will offer a full-funnel service that takes care of all digital marketing-related problems. Globant Create is a one-stop-shop for all marketing needs.
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Major Key Players of the Market:
Alphabet Inc., Microsoft Corporation, Facebook lnc., International Business Machines Corporation, Oracle Corporation, SAP SE, Adobe Inc., LinkedIn Corporation, Twitter lnc., Criteo S.A., Hubspot Inc., Taboola Ltd., Zoho Corporation, Outbrain lnc., Sprinklr lnc., The Rocket Science Group LLC, AdRoll Group, Moz lnc., Hootsuite Media Inc., SEMrush lnc., Kenshoo Ltd., Yotpo Ltd., Ahrefs Pte. Ltd., Sendinblue SAS, BrightEdge Technologies Inc., Adverity GmbH, SimilarGroup Ltd., Acoustic LP, Act-On Software lnc., Optimizely LNC, Etison LLC, Unbounce Marketing Solutions Inc., Wix.com Ltd., Shopify Inc., MarketBright Inc., Brandwatch Limited, Salesforce.com Inc., SAS Institute Inc.
Digital Marketing Software Market 2024 Key Insights:
• The digital marketing software market size is expected to see exponential growth in the next few years. It will grow to $203.49 billion in 2028 at a compound annual growth rate (CAGR) of 21.0%.
• The Impact Of Location-Based, Video, And Social Media Advertising On Digital Marketing Software Market Growth
• Innovative Technology In Digital Marketing Software Market With Globant Create
• North America was the largest region in the digital marketing software market in 2023
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