Dublin, Aug. 29, 2023 (GLOBE NEWSWIRE) -- The "Marketing Automation Software Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)" report has been added to ResearchAndMarkets.com's offering.
The global Marketing Automation Software market is primed for a remarkable surge, with a projected Compound Annual Growth Rate (CAGR) of 18.58% during the forecast period from 2023 to 2028.
The market's expansion is driven by the escalating significance of marketing in generating sales and fostering customer loyalty, leading to heightened investments in marketing services.
Market Dynamics
Drivers:
- Ongoing Shift Towards Digital Campaigns: As traditional marketing avenues wane, organizations are steering their focus towards digital platforms. This shift is fueling the demand for marketing automation solutions and tools that align with the latest digital marketing trends.
- Data-Backed Decision Process: Businesses are increasingly realizing the benefits of data-driven decisions. Marketing automation aids companies in utilizing data analytics to enhance consumer engagement and optimize marketing strategies.
- Adoption of SMAC-Based Technologies: The convergence of Social, Mobile, Analytics, and Cloud (SMAC) technologies is shaping modern marketing practices, encouraging the adoption of marketing automation solutions.
Challenges:
- Legacy Implementation Challenges: The integration of new marketing automation technologies can pose implementation challenges, particularly in legacy systems.
Opportunities:
- Industry Ecosystem Analysis: The marketing automation software market offers an ecosystem ripe for innovation and collaboration, providing businesses with opportunities for growth and advancement.
- Impact of COVID-19: The pandemic has prompted shifts in B2B marketing budgets, leading to a focus on digital mediums and the need for personalized campaigns. Large-scale organizations remain relatively unaffected, while vendors like HubSpot have leveraged a supportive ecosystem to onboard Small and Medium Enterprises (SMEs).
Companies Mentioned
A selection of key companies operating in the global Marketing Automation Software market includes:
- HubSpot, Inc.
- Adobe Systems Incorporated
- Oracle (Eloqua)
- Acoustic, L.P.
- Marketo Inc. (Adobe)
- Microsoft Corporation
- Salesforce (Pardot)
- Salesfusion Inc. (Sugar CRM)
- SAS SE
- Teradata Corporation
- SAP SE
- Act-On Software
- Klaviyo
- Active Campaign
- Keap
- Omnisend
- Thryv
- Drip
Conclusion
The Marketing Automation Software market is poised for rapid expansion, with organizations strategically investing in marketing automation solutions and tools to navigate the evolving digital marketing landscape. As the industry embraces artificial intelligence, data-driven promotion, and automation, it is set to redefine marketing practices.
The entertainment and media sector is anticipated to play a significant role, while North America's dominance and innovation position it as a key growth driver. The market's resilience and adaptability, evident through cautious budgeting strategies during the pandemic, underscore its dynamic nature.
For more information about this report visit https://www.researchandmarkets.com/r/tm0k9i
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