Marketing automation is a technology that helps organizations create better strategies for customer experience by removing unnecessary activities and letting the marketing department concentrate on other important factors. The platform supports, among other aspects, the management of lead generation, customer lifecycle communications, and customer retention. The marketing automation market is expected to evolved fast, as businesses begin to look for solutions that help speed up processes and minimize costs.
This industry is expected to be dominated by many developments over the next eight years. In the forecast era, the rising need to simplify routine marketing procedures, consumer engagement for company growth, increasing demand for customized marketing, and enhanced quantitative lead scoring are some of the major factors projected to drive this market's development. This helps web developers work in their language, prototyping in hours, and making development run smoother.
As a result of the increasing application in, campaign management, email marketing, lead nurturing & lead scoring, reporting & analytics, social media marketing, others, the demand for global marketing automation market is substantially gaining. Moreover, digitalization of industries, rising internet penetration, and the use of mobile devices is increasing the revenue growth of the global market. The growth of the marketing automation industry is driven by higher spending on cloud-based data infrastructure and lower ownership costs.
However, the security and privacy concerns for confidential data can hinder the growth of the market. With the implementation of new automation technologies, the industry is also facing a lack of qualified practitioners who could educate consumers to get the most from analytics tools and use them for knowledge that can be acted upon. However, major corporations are concentrating on purchasing smaller ones and providing integrated digital suits called 'Marketing Cloud' with the aid of cloud technologies and services such as IaaS and SaaS. Leveraging marketing automation brings with it the necessary flexibility and scalability that is essential for driving business growth
The global market for marketing automation is segmented on the basis of deployment, enterprise size application, and end-user. In terms of deployment type, the marketing automation industry is bifurcated into on-premises, and cloud. Cloud deployment is anticipated to grow the fastest during the forecast period. This can be attributed to scalability and flexibility of the cloud technology, security aspects, and control over the data centers. Based on the application, the market is segmented into campaign management, email marketing, lead nurturing & lead scoring, reporting & analytics, social media marketing, others. Email marketing segment is anticipated to grow at the highest CAGR throughout the forecast owing to increasing number of email promotions across industries and growing usage of mobile devices.
The global market for marketing automation has intense competition among well developed and new emerging players. Through investing in alliances, mergers, and acquisitions and expanding their markets, these industry leaders seek to achieve a strategic edge over the other participants.
Geographically, the global marketing automation market is categorized into North America, Europe, South America, Asia Pacific, and the Middle East & Africa. North America is considered a mature market in the marketing automation application, owing to the presence of technologically advanced IT infrastructure in the region. Moreover, Europe and the Asia Pacific are likely to show up steady growth in their respective markets for marketing automation over the forecast period.
The major players of the global marketing automation market are HubSpot, Adobe, Oracle, Salesforce, SAS, ActiveCampaign, Acoustic, Act-On Software, Sendinblue, LeadSquared, Keap, GetResponse, Ontraport, SharpSpring, SimplyCast. The companies are engaging in strategic acquisitions such as product launches, R&D, agreements, and collaborations to gain market share. Competition in the market is therefore dramatically stepping up.
Segment Overview of Global Marketing Automation Market
Deployment Overview, 2018-2028 (USD Billion)
Enterprise Size Overview, 2018-2028 (USD Billion)
- Large Enterprises
- Small & Medium Enterprises
Application Overview, 2018-2028 (USD Billion)
- Campaign Management
- Email Marketing
- Inbound Marketing
- Mobile Applications
- Lead Nurturing & Lead Scoring
- Reporting & Analytics
- Social Media Marketing
End-users Overview, 2018-2028 (USD Billion)
- Telecom & IT
- Discrete Manufacturing
- Government & Education
Regional Overview, 2018-2028 (USD Billion)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- South America
- Rest of South America