CHICAGO, April 28, 2022 /PRNewswire/ — According to a research report “Marketing Automation Market with COVID-19 Impact Analysis, by Component (Software, Services), Application (Social Media Marketing, Email Marketing, Inbound Marketing), Deployment Type, Organization Size, Vertical, and Region – Global Forecast until 2027″, published by MarketsandMarkets™, the size of the marketing automation market is expected to grow from $5.2 billion in 2022 at $9.5 billion by 2027, at a compound annual growth rate (CAGR) of 12.8% over the forecast period. Growing adoption of SMAC technologies, need for personalized marketing to maximize returns in reaching the target audience are some factors driving the growth of the marketing automation market.
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Services help organizations effectively integrate and implement marketing automation software with existing internal infrastructure
The marketing automation services segment is expected to have a promising future due to various marketing application integrations. Services help organizations build successful customer relationships by continuously supporting them throughout their business tenure. They also benefit organizations by improving marketing project execution and streamlining marketing operations. The growing need to integrate marketing automation with other enterprise applications to drive the growth of marketing automation services. These vendor-provided services help users select the best marketing automation software that suits their business needs.
Cloud-based marketing automation solutions help reduce overall costs and provide highly flexible and scalable access to solutions through the IT infrastructure hosted by the cloud service provider.
The growing shift from on-premises to cloud infrastructure is propelling the demand for marketing automation solutions. This is due to the various advantages of the cloud, including 24/7 data accessibility, fast implementation, reduced configuration and operational costs i.e. capital expenditure (CAPEX) and operating expenses (OPEX), lower maintenance costs, scalability and ease of use for an organization with limited IT staff and budget. The adoption of cloud deployment has increased significantly over the past five years, especially in SMBs, as this type of deployment offers features such as pay-as-you-go, scalability and flexibility, and offers cost reduced installation and maintenance. These features are expected to increase demand for cloud-based marketing automation to improve customer journeys and brand initiatives.
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Growing demand for social media can increase brand awareness and increase website traffic
The social media marketing application is expected to grow at a higher CAGR during the forecast period. Social media automation is the use of automated tools to improve their social media presence through content curation and scheduling social media posts in advance. Automation tools can help reduce time spent collecting posts and increase audience engagement
Extremely competitive market scenario has encouraged SMEs to invest in automated solutions to achieve high business efficiency
The SMB segment is expected to experience a high adoption rate of marketing automation and its associated services. Marketing automation software facilitates cross-channel content and strategies; allowing small businesses to save even more time and overhead without compromising multi-channel reach. SMBs have been mostly reliant on manual processes to manage their resources, such as lead follow-up, email marketing, and content creation, mainly due to lack of awareness and budget constraints.
Growing focus on improving customer experience is driving demand for omnichannel retail, which is driving demand for marketing automation apps
The retail and consumer goods vertical is expected to contribute and grow at the highest rate during the forecast period. Companies are leveraging industry-ready technology to improve user experience and ensure customers don’t turn to any of their competitors. The industry is growing through online marketing and looking forward to getting more visitors, improving traffic quality and increasing conversion rates. So, marketers focus on targeting customers using different online channels and sources to reach and convert leads to improve sales.
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North America dominate the marketing automation market in 2022
North America is one of the most technologically advanced regions in the world. Adoption of the marketing automation solution is expected to be highest in North America compared to other regions. This is due to increased business spending on digital solutions and advanced technologies to automate marketing tasks, such as product sales, advertising, and product campaigns. The North American marketing automation software market is highly competitive and consists of several major players such as Oracle, Adobe, and IBM. These companies are leveraging strategic collaborative initiatives to increase their market share and profitability.
The big players for Marketing Automation Market includes Adobe (US), IBM (US), Oracle (US), Salesforce (US), Microsoft (US), HubSpot (US), Keap (US), Thryv (USA), Sendinblue (France), Teradata (US), Act-On Software (US), ActiveCampaign (US), SAS (US), GetResponse (Poland), SharpSpring (US), ClickDimensions (US).
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