Research firm Global Industry Analysts (GIA) valued the global marketing automation market at $3.9 billion in 2020 and expects it to reach $6.3 billion by 2026 , with a compound annual growth rate (CAGR) of 8.6%.
Of these totals, GIA expects cloud-based software to grow at a CAGR of 9.6% to reach $4.6 billion by 2026, while the on-premises segment will see a CAGR of 6. .8% over the next seven years. On-premises deployments currently account for a 37.3% share of the total marketing automation market, according to the research.
GIA says the growth of the overall market is driven by the rise of digital advertising, the surge in e-commerce and the growing popularity of social media. Other cutting-edge technologies impacting market growth include voice-based marketing, artificial intelligence, and mobile platform integration, the company says.
And while there are still a few years to go now, the inevitable phasing out of third-party cookies, along with a de-emphasis on third-party data in general and increasing legislative and industry standards for data privacy, will completely disrupt the market in the coming years. Marketers will need to prepare well in advance to meet these challenges before they are forced into them.
The first five
Both Adobe and Marketo would be powerful forces in marketing technology on their own, but together since 2018, they are definitely among the best in the industry. “Either name is worth noting, but they’re even more synergistic,” says independent CRM analyst Marshall Lager, who notes that Adobe today offers “some of the best web analytics technology available creatives. Ray Wang, founder and president of Constellation Research, agrees, calling Adobe “one of the best players out there.” Add to that Adobe’s Digital Experience Platform, which 56 Group President Paul Greenberg calls “a slight decrease in what it really does” and it’s hard to deny that Adobe owns the wallet the most. most diverse and complete on the market. , analysts say.
HubSpot is quickly becoming an analyst favorite in the marketing automation space, but it is also gaining traction with end users, especially in the mid-market segment. There, “customers continue to like it for its full-suite approach,” says Wang.
And HubSpot continues to go from strength to strength, constantly rolling out “more integrations and connectors, always with ease of setup and use,” Lager says. “HubSpot has identified its core value proposition and is pushing it for all it’s worth.”
Microsoft has always found its strength in its ability to integrate the marketing capabilities of its Microsoft Dynamics 365 product with its own wide selection of business applications, but Microsoft now also offers its product to external sources. The company has also demonstrated a unique ability to regularly improve the product internally as new market forces emerge. “The product has improved over the years and is really starting to gain traction,” Wang observes.
Whether through acquisitions or internal product development, Selling powerMarketing Cloud and related products have a long history of dominating the space, but its recent work, particularly in analytics, has really caught the eye. But that’s not all: “Salesforce continues to invest in marketing automation and related areas, such as loyalty management, that allow customers to offer more targeted personalization,” says Rebecca Wettemann, Founder and CEO of Valoir. Lager agrees: “Between Pardot and Salesforce Marketing Cloud itself, businesses will find what they need to drive leads, ongoing campaigns, and resonant messaging.”
Although zoho is a relatively new entrant in the marketing space, analysts say it cannot be ignored. The company’s Marketing Plus should be particularly appealing “to middle-market customers looking for basic marketing automation features and added value, such as content and digital asset management, events, collaboration and project management,” says Wettemann. Marketing Plus, she adds, “checks the boxes for marketing automation, customer journeys, and omnichannel engagement.” It brings together many products from Zoho’s technology stack, including Campaigns, Social Media, Webinars, Analytics, Marketing Automation, WorkDrive, PageSense, Surveys, and Behind the Scenes. Greenberg also likes how Zoho packs sophisticated features into a package that’s ideal for small businesses.