Dublin, Dec. 23, 2021 (GLOBE NEWSWIRE) -- The "Marketing Automation Software Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021-2027)" report has been added to ResearchAndMarkets.com's offering.
The global marketing automation software market was estimated at USD 3.6 billion in 2020 and is expected to be USD 11.46 billion in 2027, registering at a CAGR of 17.67% through the forecast period (2021-2027). Owing to the increasing significance of marketing in generating sales and customer retention, marketing services are witnessing a rise in their spending.
To keep the businesses updated with the recent technological disruptions across the world, the marketing managers are strategically spending in marketing automation solutions and tools to adopt the latest digital marketing trends.
With the onset of the COVID-19 outbreak, many B2B marketing companies adopted a "play it safe" approach through which they reduced their marketing budgets until they could analyze the impact on their businesses and had to wait for the economic scenario to improve. According to a survey by Hubspot, almost half of the businesses implemented a cut of 1%-25% of their marketing budgets. In Q1 of 2020, most of the B2B marketing companies reported budget cuts of +26%, but some of the budgets have been restored, resulting in lower overall budgetary cuts due to the pandemic.
From social media marketing, to SEO or content marketing, marketing managers are making significant investments to support and boost their sales. According to a published article by Advertising Age, in 2019, the total marketing services spending amounted to an estimated sum of USD 248.9 billion, out of which the majority was attributed to sales promotion.
The GroupM, one of the world's largest advertising media companies in terms of billings, reported a surge in marketing services spending from USD 375.19 billion in 2012 to USD 457.60 billion in 2018. Also, in April 2018, Drift.com Inc. announced that the company raised a total of USD 107 million to boost its marketing and sales platform. Hence, the increase in spending and investments in developing effective marketing solutions, the need for effective marketing is expected to increase in the future.
Organic visibility is expected to increase in the future due to the growth in social media marketing campaigns. Various brands try to improve their return on investment (ROI) by increasing their social media marketing budget. Social media advertisement targeting is likely to become highly targeted by mirroring Google's Adwords platform. Moreover, 2018 witnessed a 50% increase in social media budget of brands, which is expected to increase even further in 2019.
Key Market Trends
- Entertainment and Media Expected to Have a Significant Share
- Europe Expected to Witness Significant Growth
Competitive Landscape
The marketing automation software market has several products available with number of companies in the market making it highly fragmented. Hence, being innovative in the market is crucial, as consumers are opting for products with the latest features. The capital expenditure is also high, which has helped companies with powerful competitive strategies to move forward rapidly.
- Feburary 2021 - Microsoft Corporation provided new updates for Dynamics 365 Marketing software that includes simplified Marketing settings, a recovery Items tab for customer journeys and event management, more customization for send now functionality, and improved delivery reliability for forms. Two months later it released another update constituting a completely revamped email editor. The new email editor is poised to address its customers' most requested improvements. It improved usability, helping marketers create engaging emails more quickly.
- Feburary 2021 - Pardot (Salesforce) released new Pardot feature enhancements that helps to set up Pardot faster than ever, maintain engagement data streams with First-Party Tracking, and enhanced functionality in email personalization, deliverability, and reporting. It also improved clone actions, so one can easily copy email content or new asset types associated to their campaigns.
- July 2020 - Oracle Corporation reintroduced Oracle Content and Experience, enabling organizations to utilize one universal asset hub to intelligently apply digital assets across both front and back-office applications spanning HR, ERP, SCM, CRM, and CX applications. Built on Oracle Cloud Infrastructure, Oracle Content and Experience merges and expands on what traditional content management systems and digital asset management tools are usually relied upon.
Key Topics Covered
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Ongoing Shift Toward Digital-based Campaigns
4.2.2 Organizations Realizing the Benefits of Data-backed Decision Process
4.2.3 Sustained Increase in Adoption of SMAC-based Technologies
4.3 Market Challenges
4.3.1 Legacy-related Implementation Challenges
4.4 Market Opportunities
4.5 Industry Ecosystem Analysis
4.6 Impact of COVID-19 on the Marketing Automation Software Market
4.6.1 Short-term Impact
4.6.1.1 Changes in B2B marketing budgets and their overall impact on MarTech budget allocations
4.6.2 Long-term Impact
4.6.2.1 Migration to Digital Mediums and Need for Personalized Campaigns to Gather Traction
4.6.2.2 Growth in Collation of Data Has Increased the Need for Contextualization
4.6.2.3 Large-scale Organizations Which Account for a Sizeable Share Remain Relatively Unaffected
4.6.2.4 Vendors such as HubSpot Have Successfully Created a Supporting Ecosystem Which Has Helped Them Onboard SMEs
4.7 Impact of Higher Adoption of Digital Transformation Practices and Ongoing Move towards an Integrated CRM Space
4.8 Industry Attractiveness - Porter's Five Forces Analysis
5 MARKET SEGMENTATION
5.1 Deployment
5.1.1 Cloud-based
5.1.2 On-Premise
5.2 Organization Size
5.2.1 Large-scale
5.2.2 SME-based
5.3 Application
5.3.1 Campaign Management
5.3.2 Lead Management
5.3.3 Sales Enablement Programs
5.3.4 Analytics & Reporting Solutions
5.3.5 Other Applications
5.4 End-user Vertical
5.4.1 Entertainment & Media
5.4.2 Financial Services
5.4.3 Government
5.4.4 Healthcare
5.4.5 Manufacturing
5.4.6 Retail
5.4.7 Other End-user Verticals
5.5 Geography
5.5.1 North America
5.5.2 Europe
5.5.3 Asia-Pacific
5.5.4 Latin America
5.5.5 Middle East & Africa
6 COMPETITIVE INTELLIGENCE
6.1 Key Vendor Profiles
6.1.1 Hubspot, Inc.
6.1.2 Adobe Systems Incorporated
6.1.3 Oracle (Eloqua)
6.1.4 Acoustic, L.P.
6.1.5 Marketo Inc. (Adobe)
6.1.6 Microsoft Corporation
6.1.7 Salesforce (Pardot)
6.1.8 Salesfusion Inc. (Sugar CRM)
6.1.9 SAS SE
6.1.10 Teradata Corporation
6.1.11 SAP SE
6.1.12 Act-On Software
6.1.13 Klaviyo
6.1.14 Active Campaign
6.1.15 Keap
6.1.16 Omnisend
6.1.17 Thryv
6.1.18 Drip
6.1.19 Gap Analysis - Current Marketing Automation Platform Offerings
7 Strategic Recommendations from MI
7.1 Analysis of Key Initiatives Undertaken by Vendors in the Post-COVID World
7.2 Major Takeaways from the Strategic Initiatives Implemented by Major Vendors such as Hubspot
7.3 Analysis of Conservative, Realistic, and Optimistic Scenarios on the Recovery of the Market Demand
7.4 Analyst Insights on the MAS Market Landscape
8 Vendor Positioning Analysis
9 Market Outlook
For more information about this report visit https://www.researchandmarkets.com/r/t95s0
