New York, US, Aug. 05, 2021 (GLOBE NEWSWIRE) -- Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Global Digital Marketing Software Market information by Type, by Application and Region – forecast to 2027” the market size USD 119,077 Million by 2025 at a compound annual growth rate of 19.4%.
Market Scope:
High penetration of smartphones coupled with the adoption of social media channels for advertising has contributed to a demand for digital marketing software. In addition, the advent of Big Data Analytics and Artificial Intelligence (AI) into such software provides companies with valuable insights into consumers and their purchase habits. The growing importance of online media channels can open up new opportunities for the digital marketing software market by 2025.
Dominant Key Players on Digital Marketing Software Market Covered Are:
- Adobe Systems (U.S.)
- SAP SE (Germany)
- Oracle Corporation (U.S.)
- Microsoft Corporation (U.S.)
- SAS Institute Inc. (U.S.)
- IBM Corporation (U.S.)
- HP Enterprise Development L.P (U.S.)
- Hubspot Inc. (U.S.)
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Market USP exclusively encompassed:
Market Drivers
Digital marketing software enables companies to develop and improve their customer relationships using various digital marketing channels. Digital marketing software tools include e-mail software, web analytics, customer relationship management (CRM), and market automation software. These tools enable companies to enhance customer interaction through a variety of sources, such as social networking sites and instant messaging services.
Social media is presently a key area of focus for marketers. Social media has arisen as an efficient way to communicate with a large number of customers in a very short time. Social media advertising is a major platform and has been on the rise since the launch of social networking and professional tools like Facebook, Instagram, YouTube, Skype, Google+, Twitter, and LinkedIn, which have introduced new ways to communicate with customers. Social advertising allows marketers to build a strong brand presence across different target groups of customers. All industry verticals are entirely dependent on social media for their communication and marketing mix, regardless of the budget and size of the organization. There has been a clear interest in integrating digital marketing tools such as e-mail marketing, web analytics, campaign management, and content management with social media applications across the globe. It is reported that people spend the most on social networking sites; hence, marketers are concentrating on creating new advertising products. Social advertising, location-based advertising, and video advertising have gained enormous popularity in recent years, enabling marketers to leverage social media via increased users and subscribers. This segment has the great potentials to be one of the most promising drivers of the DMS market.
However, security is a big concern while executing digital enablement technologies. As IoT and cloud become more common, companies will need more security and privacy to prevent breaches. The issue of security has an effect on the advancement of digitalization. With a growing number of IoT-enabled digital systems, the number of security and privacy concerns is also estimated to increase, and every endpoint, gateway, sensor, and smartphone will become a possible target for hackers. Data privacy and security is an obstacle that needs to be addressed effectively. Other security issues such as hijacking accounts, insider threats, insecure Application Programming Interfaces (APIs), malware injections, shared vulnerabilities, and data loss is more common in cloud-based DMS. Enterprises have a vast data repository containing essential consumer and business data; any kind of cyber-attack on such a repository can result in a major loss to the business. These security concerns related to data access by unauthorized users could also risk enterprise data security and competitive business position.
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Segmentation of Market covered in the research:
The global digital marketing software industry has been segmented into type and application.
By type, the global digital marketing software market has been segmented into interaction systems, content production & management, data & analytics systems, and management & administration-oriented apps.
By application, the global digital marketing software market has been segmented into BFSI, manufacturing, retail, high tech & IT, media & entertainment, and others.
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Regional Analysis
By region, the global digital marketing software market has been segmented into North America, Europe, Asia Pacific, and the rest of the world.
North America to lead the global market
In North America, the digital marketing software industry had a large revenue share in 2019. This is because major companies and brands are seeking a wider target audience to promote their content and market their products and services online. Consumers' evolving preference for online shopping is also expected to provide advertisers with opportunities to market their products online. This, in turn, raises the growth of the digital marketing software market in the region. In North America, numerous associations and organizations like the Cloud Native Computing Foundation and the National Cloud Technologists Association are promoting the use of cloud computing to introduce a variety of high-tech solutions such as CRM, content management, and cloud platform marketing. In addition, the region is home to significant industry players like Oracle Corporation, IBM Corporation, and Microsoft Corporation, which are well placed for the digital marketing software market.
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COVID-19 Impact on the Global Digital Marketing Software Market
The digital marketing software market is anticipated to rise significantly during the COVID-19 pandemic as a result of a growing trend of B2B marketing among companies. This is due to increased barriers to conferences, live events, and face-to-face business, with the aim to promote amid lockdown due to the COVID-19 pandemic.
The demand for digital marketing software during the Covid-19 outbreak is expected to rise significantly from small and medium-sized companies to promote their products on the digital platform to reach the target consumers globally without reaching them physically.
Competitive Landscape
Several players are involved in the industry, including established players with global operations and regional and local market players catering to a limited number of clients. The market for digital marketing software is therefore highly fragmented and marked by intense competition.
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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.