Market Highlights
Market Research Future (MRFR), in its recently published research report, asserts that the global Digital Marketing Software Industry 2020 is booming and expected to grow exponentially over the review period, recording a substantial market valuation of USD 119.07 billion by 2025, and a healthy CAGR in the forecast period.
Drivers and Restraints
Social networking platforms like Facebook and Instagram, which provide a forum for reaching large numbers of customers and enriching their online experience, are among the biggest drivers of the market. Since the growing use of smartphones, it has become a platform for digital advertisement. India, China, and Brazil's emerging economies are prime opportunities for successful expansion into the digital marketing software market. Increasing online shopping preference due to safe Internet access and the availability of affordable mobile options will drive market growth over the review period. The rise in digital marketing software adoption is due to the increase in organizations ‘digital marketing budgets, common social media channels and increased internet penetration.
In addition, cloud solutions have also played a prominent role due to their advantages including minimum I.T. Investment, cost-effectiveness and easy access. The advent of disruptive technologies like big data, predictive analytics, and artificial intelligence (A.I.) will spur its development. But questions about data protection may present the market with a challenge.
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Segmentation:
Based on the type, the market is segmented into interaction systems, data & analytics systems, content production & management, and management & administration-oriented apps. Interaction systems accounted for a 43% market share in 2013 and were valued at USD 9.8 billion. This segment can witness a 19.7% CAGR over the forecast period to touch a size of USD 5.3 billion by 2025. On the other hand, the data & analytics system segment can exhibit the highest CAGR of 20.5% over the assessment period owing to data is a valuable asset in understanding consumer behavior. Major market applications comprise BFSI, manufacturing, retail, high tech & I.T., media & entertainment, and others. The media & entertainment applications dominated the digital marketing software market, with a 27% share in 2013. It can touch USD 35.19 million by 2025. On the other hand, the retail segment can observe 21% CAGR over the forecast period to touch USD 35.68 billion by 2025.
Regional Overview
The geographical overview of the global market has been analyzed in four major regions, including the Asia Pacific, North America, Europe, and the rest of the world (Latin America, the Middle East, and Africa).
North America is poised to hold the largest share of the market in digital marketing applications, while Asia-Pacific is expected to rise at a significant pace over the forecast period. The category of interaction technology services led the market size of digital marketing applications in 2016, and is projected to continue this trend in the near future. The U.S. market for digital marketing software is to exhibit a 21.2% CAGR over the reivew period due to the adoption of digital marketing software in media & entertainment, retail and other vertical industries. Use personalized ads to meet individual needs will drive the regional market's value to USD 28.8 million by 2025.
India can witness 31.7% CAGR over the review period, while China can register 27.6% CAGR during the review period. The advent of numerous social media platforms has made mobile advertising very lucrative. This has impelled the demand for digital marketing software in these regions.
Competitive Analysis
The key market players operating in the global market as identified by MRFR are H.P. Enterprise Development L.P (U.S.), Adobe Systems (U.S.), Oracle Corporation (U.S.), SAP SE (Germany), Microsoft Corporation (U.S.), IBM Corporation (U.S.), SAS Institute Inc. (U.S.), and Hubspot Inc. (U.S.).
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Digital Marketing Software Market Research Report: By Type (Interaction Systems, Data & Analytics System, Content Production & Management, Management & Administration-Oriented Apps), By Application (Retail, Manufacturing, BFSI, High Tech & IT, Media & Entertainment, Others) – Forecast to 2027
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