NEW YORK, Dec. 18, 2018 (GLOBE NEWSWIRE) -- According to the market research report published by P&S Intelligence, APAC marketing automation software market is projected to reach $7.0 billion by 2023. This is attributed to increasing penetration of digital marketing and social media in APAC, especially by populace under the age of 40. Marketers are leveraging this fact to build their consumer base by adopting social media platforms to reach and engage with potential target audience, which is positively driving the market growth.
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On the basis of solution, the cross channel campaign management (CCCM) marketing automation software solution contributed over 45% revenue share to the APAC marketing automation software market in 2017, on account of growing need by enterprises for a technology that supports them in customer data management, analytics, along with workflow tools for designing, executing, and measuring campaigns for digital and offline channels.
Based on industry, banking, financial services, and insurance (BFSI) held the largest market share in 2017. This was due to increasing adoption of marketing automation software in the BFSI industry. The industry’s major challenge is to effectively up-sell and cross-sell retail banking products like debit cards, credit cards, loans, insurance, and so on to customers. To overcome these challenges, the BFSI industry is implementing marketing automation software, as it provides summarized information of consumer behavior depending on their digital channels, platforms and the touch points they use. Additionally, marketing automation software automates repetitive manual tasks which thereby improves productivity of an organization.
Browse report overview with 79 tables and 68 figures spread through 166 pages and detailed TOC on "Asia-Pacific (APAC) Marketing Automation Software Market" at: https://www.psmarketresearch.com/market-analysis/apac-marketing-automation-software-market
Based on deployment type, APAC marketing automation software market categorized into cloud and on-premises. Of these, the cloud-based marketing automation category is expected to continue holding larger share in the APAC market, during the forecast period. The majority of market investments in the region are targeted toward cloud-based applications. Furthermore, small and large businesses are becoming aware of the advantages offered by cloud technology such as scalability, speed, storage, and convenience over on-premises deployment solutions, which is thereby boosting the adoption of cloud-based marketing automation software.
India is forecast to emerge as the fastest growing country in APAC marketing automation software market in the next five years. With rapid growth in industries such as retail, manufacturing, and hospitality, demand for marketing automation software solutions is high in these industries. Solutions such as through channel marketing automation (TCMA), and lead-to-revenue management (L2RM) are being adopted by these industries as they improve lead scoring and channel marketing. Moreover, to cater to the needs of these industries, marketing software automation vendors are coming up with solutions tailored as per the business size and needs of the end-users.
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Recently, major players in the APAC marketing automation software market have been involved in various mergers and acquisitions, partnerships, and product launches, to gain a foothold in the market. Oracle Corporation, SharpSpring Inc., and HubSpot, Inc. have been focusing on both product launches and partnerships to improve their market position.
Some of the key players operating in the APAC marketing automation software market includes Oracle Corporation, IBM Corporation, Adobe Systems Incorporated, Salesforce.com, Inc., HubSpot, Inc., Teradata Corporation, Act-On-Software Inc., SharpSpring, Inc., SAS Institute Inc., and Infusionsoft, Inc.
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