Pune, India, July 17, 2019 (GLOBE NEWSWIRE) -- The global digital marketing software market is presumed to garner a valuation of USD 119,077.5 million during the forecast period (2018-2025), Market Research Future (MRFR) unveils in a detailed analysis. The market is anticipated to generate a stellar CAGR of 19.4% in the foreseeable future. Digital marketing software can be defined as a tool which can be accountable for the marketing of a product through digital media. The surging penetration of the Internet and increased competition are the top two factors presumed to dictate the growth trajectory of the market.
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Adoption of Social Media Channels for Advertisement Promoting Digital Marketing Software
Social media channel is one of the primary factors highly influencing the growth of digital marketing software market across the globe. Social media channels like Instagram and Facebook provides a huge platform to reach out to a wider segment of consumers and also enrich the online experience. The increased proliferation of smartphones and its use have made it a key medium for digital advertising. Emerging countries like China, India, and Brazil are considered key opportunities for the digital market software market to expand at a rapid pace. The surging preferences for online shopping due to high availability of affordable smartphones and easy access to the Internet are estimated to foster the market growth during the review period. Moreover, with the emergence of disruptive technologies like predictive analytics, big data, and artificial intelligence are expected to bolster the growth.
Digital marketing software also improves customer interaction via several sources like social networking sites, instant messaging systems, and mobile apps. The surging adoption of digital marketing software can be credited to the upsurge in digital marketing budgets in several organizations, rising penetration of the Internet, and widespread social media platforms. The cloud solution also plays a critical role due to the benefits it offers like cost-effectiveness, minimum IT investments, and ease of accessibility. The inclination towards social media marketing and mobile marketing are also likely to open up new avenues for the market to expand.
Meanwhile, concerns related to data privacy is likely to restrict the growth of the market during the assessment period. The rising complexities related to digital marketing software and the dearth of skilled personnel may slow down market growth.
Prominent Players
Market players contributing to Digital Marketing Software Market growth include SAP SE (Germany), Adobe Systems (U.S.), Microsoft Corporation (U.S.), Oracle Corporation (U.S.), IBM Corporation (U.S.), SAS Institute Inc. (U.S.), Hubspot Inc. (U.S.), and HP Enterprise Development L.P (U.S.).
Segmental Analysis
Interaction systems, content production & management, data & analytics system, and management & administration-oriented apps are included within the type-based segmentation of the global digital marketing software market. Interaction systems occupied 43% of the total market share. The segment is likely to attain a valuation of USD 53,340.2 million, exhibiting a CAGR of 19.7% during the review period. The data & analytics segment, on the other hand, is likely to exhibit the highest CAGR of 20.5% due to the data being a valuable asset to understand consumer behavior.
Applications include manufacturing, BFSI, high tech & IT, retail, media & entertainment, and others. Among all the segments, the media & entertainment segment dominated the market, occupying a share of 27% in 2013. The segment is predicted to touch a valuation of USD 35,195.9 million in the foreseeable future.
Regional Scope
The regions discussed in the report spans across China, U.S., India, Japan, Europe, and Southeast Asia. Due to the surging adoption of digital marketing software in retail, media & entertainment, and other industry verticals, the U.S. market for digital marketing software is likely to exhibit a CAGR of 21.2% over the forecast period. The increased use of personal marketing in order to cater to the needs of individuals is predicted to thrust the valuation of the market to USD 28,785.6 million by the end of the assessment period. Prominent companies and major brands are finding larger target audience in order to market their products and promote their content and services through online channels. This is further plummeting the market growth in this region. The surging preferences for online shopping are predicted to create new opportunities for advertisers to promote their products online, which further fosters market growth.
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India, on the other hand, is likely to garner a CAGR of 31.7%, while China is likely to present an impressive CAGR of 27.6% during the review period. The advent of several social media platforms has enabled mobile advertising lucrative. This has further triggered the demand for digital marketing software in these regions. A large population of smartphone users are accessing social media on a daily basis through their mobile phones and other digital devices. The regions thereby offer huge opportunities for online advertising.
Industry Upgradations
May 13, 2019: Mailchimp is looking forward to expand its portfolio by evolving the capabilities of its flagship products. The updated platform will help the marketers to handle primary tasks like building landing pages and websites and sending targeted ads through a single service.
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