The digital marketing software market is expected to reach USD 264.5
The digital marketing software industry is expected to grow over $264.5 billion by 2030 while registering a CAGR of 19.20%. The Digital Marketing Software market value was 23 Million USD in 2019, it has witnessed a huge growth rate in a short time. The share of digital marketing in the overall marketing budget of organizations and real-time marketing is increasing, followed by other factors like the sheer importance of digital marketing, which increases the need for digital marketing software. In a recent study conducted by Google, it was found that 48% of consumers in the global market begin their searches on search engines, while 33% search for brand websites and 26% search in mobile apps. Businesses are willing and willing to engage with their customers on every digital platform with different devices, using digital marketing software, where habits can be tracked and analyzed.
The proliferation of big data analytics in areas such as digital marketing and increasing ease of shopping by removing location constraints are expected to create opportunities for market growth. Social CRM solution is expected to grow in importance during the current forecast period as organizations attempt to engage with customers on social sites, such as Facebook and Twitter, to spread awareness of their ideas, brands and products. .
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• Adobe Systems (USA)
• SAP SE (Germany)
• Oracle Corporation (USA)
• Microsoft Corporation (USA)
• SS Institute Inc. (United States)
• IBM Corporation (USA)
• HP Enterprise Development LP (US)
• Hubspot Inc. (United States)
Digital marketing is integral to the success of different businesses in the age of engagement marketing. Promoting products, brands and services through online and mobile applications is quickly becoming vital to business success.
By deployment, the global market is segmented into on-premises and cloud services.
By type, the market includes search engine software, social media marketing, mobile and email marketing, marketing automation software, and others like content marketing software.
By end-user industry, the global market is segmented into BFSI, retail, and others like manufacturing, healthcare, IT & telecommunications, media & entertainment, among others.
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In recent years, increasing internet penetration in countries such as India and China has brought a large portion of the region’s population online. It should result in a profitable opportunity for digital marketing. The above mentioned factor is expected to lead to a growth in social media presence leading to an increase in social media based marketing campaigns.
The Indian region has emerged as a remarkably suitable market for investing in the digital space, especially for consultancy firms supporting the transition to the digital sphere. As the Digital India strategy continues to take shape, it is very clear that this is a cloud-first approach. The initiative is expected to result in the adoption of cloud-based digital marketing software in the country.
In 2018, one of the market players, Salesforce.Com Inc., introduced Datorama as part of its marketing cloud services. Datorama enables businesses to bring together their marketing data from different channels, campaigns and regions to unlock insights and take action on all marketing activities. With Datorama, clients, including brands and agencies, can help understand the effectiveness of their marketing investments and optimize them in real time.
In 2018, another market company – IBM Corporation and Colombia announced a partnership to leverage IBM Watson, expand regional language content promotion and implement state-of-the-art multilingual recommender systems on several multimedia contents, text articles, audio, video, etc. Colombia had taken advantage of IBM Watson’s natural language understanding service to enrich the content with additional features, such as named entities, categories and concepts.
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