A new market researcher published by Global Industry Analysts Inc., (GIA), the leading market research firm, today released its report titled “Digital Marketing Software – Global Market Trajectory & Analytics”. The report presents new insights into the opportunities and challenges in a significantly transformed post COVID-19 market.
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Editing: ten; Published: February 2022
Executive Pool: 35293
Companies: 128 – Readers covered include Adobe, Inc.; Hewlett-Packard Enterprise Company; Hubspot, Inc.; IBM Corporation; Marketo, Inc.; Microsoft Corporation; Oracle Corporation; Salesforce.com, Inc.; SAP SE; SAS Institute, Inc. and others.
Blanket: All major geographies and key segments
segments: Component (Software, Services); Deployment (cloud, on-premise); Vertical (Media & Entertainment, BFSI, IT & Telecom, Consumer Goods & Retail, Travel & Hospitality, Transportation & Logistics, Other Verticals)
Geographies: World; United States; Canada; Japan; China; Europe; France; Germany; Italy; UK; Rest of Europe; Asia Pacific; Latin America; Middle East; Africa.
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Global Digital Marketing Software Market to Reach $129.3 billion by 2026
Digital marketing software refers to the use of solutions that enable advertisements on digital platforms and social media websites. The digital marketing industry has grown rapidly over the past decade due to increased internet penetration and the proliferation of mobile and electronic devices across the globe. Growth prospects in the global market are boosted by increasing digital marketing spending and the rise of social media and advertising. Rising digital marketing budget and growing popularity of social media and advertising are expected to give a major boost to the growth of the market. Growing trends such as the growing use of mobile devices and one-to-one marketing are changing organizations’ marketing strategies, making them more focused on improving user experience. Businesses are increasingly adopting digital marketing software to manage customer relationships through better assessment of consumer behavior across different business channels. The increasing use of the solutions in various industries such as IT, telecommunications, media and entertainment, manufacturing, healthcare, education, retail, consumer goods, logistics and transportation, and BFSI should fuel growth. Applications related to management and administration are expected to experience strong growth over the next few years. The inexpensive deployment cost of cloud-based marketing solutions is also attracting interest from small businesses that typically lack the resources to run large, sustained advertising campaigns.
Amid COVID-19 crisis, Global Digital Marketing Software Market Estimated at US$76.8 billion in 2022, is expected to reach a revised size of US$129.3 billion by 2026, growing at a CAGR of 15.1% over the analysis period. Software, one of the segments analyzed in the report, is expected to register a CAGR of 14.4% and reach US$103.7 billion at the end of the analysis period. After a thorough analysis of the business implications of the pandemic and the induced economic crisis, the growth of the Services segment is readjusted to a revised CAGR of 16.8% for the next 7-year period. The dominance of the software segment could be attributed to the fast-paced and ever-changing technological environment as well as the dynamic efforts of the companies to keep their systems up-to-date with the latest technologies to stay ahead of their competitors in the market. Marketing automation software is likely to be increasingly adopted for carrying out activities such as cross-team collaboration and lead nurturing to drive business. The growth of the Services segment is due to the evolution of the industry and the growing need for the adoption of digital marketing services such as subscription-based pricing models and remote monitoring.
The US market is estimated at $24.2 billion in 2022, when China is expected to reach $17.5 billion by 2026
The US Digital Marketing Software Market is estimated at US$24.2 billion in the year 2022. Chinathe second largest economy in the world, is expected to reach a projected market size of US$17.5 billion by 2026 with a CAGR of 18.5% over the analysis period. Other notable geographic markets include Japan and Canada, each predicting growth of 11.4% and 14.1% respectively over the analysis period. In Europe, Germany is expected to grow at around 13.7% CAGR. The United States represents the largest market due to its technologically sophisticated and large consumer base. The rapid growth of cloud computing platforms in the region is also expected to boost the use of content management, marketing automation and CRM solutions. Rapid growth in Asia Pacific the region will be driven by growing internet penetration and the proliferation of smartphones in major countries such as China and India.Continued
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