The Global Digital Marketing Software Market 2020, according to MRFR, is estimated to grow from USD 2.15 billion in 2017 to USD 35.4 billion towards the end of 2025, at a substantial CAGR of 42.54% till 2025.
The Digital Marketing Software Market is growing continually. Digital marketing software enables companies to formulate strong marketing strategies and reach a new consumer base on online channels. Besides, rising numbers of digital channels are one of the major market trends, driving the growth of the market. Moreover, the development of smart process application escalates the market shares.
According to Market Research Future (MRFR), the global digital marketing software market is poised to create an exponential value by 2025, growing at 19.4% CAGR throughout the forecast period (2019 to 2025). The high adoption rate by major marketing companies attributes to the market increase. High penetration of smartphones and the adoption of social media channels for advertising create substantial market demand.
The software provides companies with valuable customer insights and their buying patterns. Additionally, the integration of big data analytics and artificial intelligence (AI) in digital marketing solutions increases the size of the market. Also, increasing relevancy of online media channels opens up new growth opportunities for the digital marketing software market.
On the flip side, complex algorithms and data privacy concerns are the major factors projected to impede the market's growth. Nevertheless, increasing AI implementation for marketing & advertisement would support market growth. Also, increasing curating on-demand services, advertisements, articles, promotional advertisements, and videos substantiate market growth.
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Digital Marketing Software Market - Segments
The report is segmented into three dynamics:
By Type : Interaction Systems, Data & Analytics System, Content Production & Management, and Management & Administration-Oriented Apps, among others.
By Application: Retail, BFSI, Manufacturing, High Tech & IT, Media & Entertainment, and others.
By Regions : Americas, Europe, Asia Pacific, and the Rest-of-the-World.
Digital Marketing Software Market - Regional Analysis
North America leads the global digital marketing software market. The largest share of the market share attributes to the presence of major technology providers equipped with advanced technologies. Besides, the increasing digitization in the advertisement sector drives growth in the regional market. Moreover, the penetration of cutting-edge technology, Internet, and smartphones substantiate the regional market's growth.
The increasing R&D investments for the development of technologies such as AI, machine learning, natural language processing, virtual assistance, and others increase the market size. The North American digital marketing software market is projected to retain its dominance throughout the forecast period.
Europe stands second in the global digital marketing software market. The market growth is driven by the presence of various key players and the large digitization of marketing platforms. Additionally, rising numbers of medium and large enterprises act as a major tailwind for the regional market's growth. Augmenting demand for marketing platforms from growing numbers of retailers and businesses drive substantial investments and traffic towards the brick & mortar shops.
The growing demand for customer-driven marketing and advertisement from the growing number of agencies and retailers pushes the regional market's growth. The European digital marketing software market is predicted to create a substantial revenue pocket during the assessment period.
Asia Pacific digital marketing software market is growing rapidly. Factors such as the rising adoption of social media and additional platforms for advertisement boost the growth of the regional market. The rising uptake of AI technology and cloud deployment by large and SMEs to enhance customer satisfaction and operational performance boost the regional market's growth. India and China are the major digital marketing software markets in the region. The APAC digital marketing software market is expected to grow at a significant rate during the forecast period.
Digital Marketing Software Market - Competitive Analysis
Highly competitive, the digital marketing software market appears fragmented due to the presence of several well-established players. Mergers & acquisitions, innovation, and brand reinforcement remain prevailing key trends for the leading players as these strategies support their growth and expansion plans. They deliver reliable, leading-edge products and services. For which they invest substantially in R&D to develop adept technologies and products.
Players leading the digital marketing software market include SAP SE (Germany), Adobe Systems (US), Oracle Corporation (US), SAS Institute Inc. (US), Microsoft Corporation (US), IBM Corporation (US), Hubspot Inc. (US), and HP Enterprise Development LP (US), among others.
November 16, 2020 ----- Objective Platform (the Netherlands), a leading provider of marketing measurement and optimization software across the European region, announced receiving €2 MN funding in an investment round led by Newion, and early-stage investor in B2B software companies. Amsterdam-based marketing measurement and optimization software vendor would use these funds to improve its capabilities to help businesses optimize their marketing efforts.
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