Chicago, Oct. 21, 2022 (GLOBE NEWSWIRE) -- The global Marketing Cloud Platform Market size is expected to grow from USD 11.7 billion in 2022 to USD 17.8 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 8.7% during the forecast period, according to a new report by MarketsandMarkets™. The marketing cloud's platform's broader objective is to provide marketers with the tools they need to build integrated cross-channel experiences that connect with customers on the right channels at the right times, including SMS, MMS, social media, and messaging (including group messaging). Hence, it will increase both sales and revenue.
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Scope of the Report
| Report Metrics | Details |
| Market size available for years | 2017–2027 |
| Base year considered | 2022 |
| Forecast period | 2022–2027 |
| Forecast units | Million/Billion (USD) |
| Segments covered | Components, Marketing Functions, Organization Sizes, Deployment Modes, Verticals, and Regions |
| Geographies covered | North America, Europe, Asia Pacific, Middle East & Africa, and Latin America |
| Companies covered | Adobe (US), Salesforce (US), Oracle (US), Pegasystems (US), HubSpot (US), SAP (Germany), SAS (US), Redpoint Global (US), Cheetah Digital (US), Acoustic (US), Braze (US), Acquia (US), Cision (US), Insider (US), Sitecore (US), Resulticks (US), Fico (US), Selligent (Belgium), Zeta Global (US), Algonomy (US). Platformly (British Virgin Islands), Mapp (US), ConvertLab (China), SocialPilot (US), OneSignal (US), Bluecore (US), CleverTap (US), Optimove (US), MoEngage (US), and Iterable (US) |
The COVID-19-led pandemic has positively impacted the marketing cloud platform market. The pandemic bought changes in consumer tastes and purchasing behavior. The Global eCommerce revenue increased significantly as impacted by COVID-19. To turn one-time purchasers into devoted customers, marketing needs to stand out from the competition and offer the finest customer experience with the help of a marketing cloud platform. COVID-19 has led to the adoption of a marketing cloud platform across various industries, such as retail & eCommerce, travel & hospitality, BFSI, IT & telecom, media and entertainment, gaming, healthcare & life sciences, education, and other verticals. A key remedy for the COVID-19 challenge is the marketing cloud platform. This pandemic bought changes in consumer tastes and purchasing behavior.
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By deployment mode, the public cloud has captured the highest market share, and the trend is expected to continue during the forecast period. Public cloud services might be provided without charge or via several subscription or on-demand pricing models, such as a pay-per-use approach. The public cloud is widely used by suppliers of marketing cloud platforms, mostly due to its simplicity of use and faster setup. This deployment architecture has several advantages, including scalability, dependability, flexibility, and remote location access. Adopting the private cloud lowers the risks, security concerns, and regulatory barriers involved. It is also well-liked by businesses that need a safe environment to keep mission-critical data. The private cloud deployment is ensured by efficiency and good performance inside an organization's intranet firewall.
The marketing cloud platform market is segmented into five regions, including North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. In 2022, the North America is estimated to hold the largest market share in the marketing cloud platform market. The rising adoption of cutting-edge technologies is expected to propel the market demand in the region. Most of the top leading vendors are present in North America region, such as Adobe (US), Salesforce (US), Oracle (US), Pegasystems (US), and HubSpot (US). The region is also experiencing significant technological innovations, including AI, ML, cybersecurity, blockchain, data analytics, and big data for digital transformation factors that are also assisting the region's market to grow. The Asia Pacific is estimated to hold the highest CAGR during the forecast period in the marketing cloud platform market. The high growth rate in the region can be attributed to the proliferation of innovative technologies, combined with the growing business needs and increase in the number of organizations adopting marketing cloud platforms. The Asia Pacific region comprises major economies such as China, Japan, India, and the rest of Asia Pacific, showing enormous client potential, better customer service, improved automation, and reduced operational expenses.
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Top Key Players
Some of the major marketing cloud platform market vendors are Adobe (US), Salesforce (US), Oracle (US), Pegasystems (US), HubSpot (US), SAP (Germany), SAS (US), Redpoint Global (US), Cheetah Digital (US), Acoustic (US), Braze (US), Acquia (US), Cision (US), Insider (US), Sitecore (US), Resulticks (US), Fico (US), Selligent (Belgium), Zeta Global (US), and Algonomy (US).
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