Increasing Reliance on the Virtual Space amid Rapid Digitization of Industries Is Compelling Enterprises to Invest In Robust Quality Digital Marketing Software and Platforms, Providing A Major Impetus to Market Growth
United States, Rockville MD, Aug. 17, 2022 (GLOBE NEWSWIRE) -- The global digital marketing software market is estimated to secure a market value of US$ 370 Billion by 2032 while expanding at a CAGR of 19% during the forecast period from 2022 to 2032. The market growth can be attributed to the growing preference for mobile phones to gain information on the go. The rapid penetration of smartphones in the market has also provided a significant boost to the consumption of digital media.
From 2015 to 2021, digital marketing software sales compounded at a CAGR of 9%, reaching US$ 56 Billion in value by the end of the said historical period. Prospects further widened during the COVID-19 pandemic, as a paradigm shift towards remote business models in the wake of stringent social distancing protocols was witnessed.
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Rising penetration of digital media has encouraged the key players to invest significantly in online advertising for better reachability. Furthermore, rapid digitization has changed the way an organization functions by offering companies with various tools to connect with stakeholders in the industry through various social networking and various media.
What is the Contribution of North America in Developing the Market?
Presence of Established Key Players to Develop the Market in North America
As per the estimation at Fact.MR, the region is likely to secure about 44% of the market share in 2022. The significant contribution of the region can be attributed to the presence of established key players in the region. Furthermore, the increasing inclination towards online shopping is expected to offer various opportunities for expansion in the region.
Various companies of the U.S, such as; Cloud Native Computing Foundation and the National Cloud Technologists Association are motivating the usage of cloud computing for the deployment of several high-tech solutions like CRM, marketing automation on cloud platforms.
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Key Segments Covered in the Digital Marketing Software Industry Survey
Managed Digital Marketing Services
Professional Digital Marketing Services
Digital Marketing Software for Campaign Management
Digital Marketing Software for Content Management
Digital Marketing Software for Email Marketing
Digital Marketing Software for Search Marketing
Digital Marketing Software for Marketing Automation
Digital Marketing Software for Social Media
Digital Marketing Software for CRM Software
Digital Marketing Software for Other Solutions
Based on Enterprise Size
Digital Marketing Software for Small & Medium Enterprises (SMEs)
Digital Marketing Software for Large Enterprises
Based on End Use
Healthcare Digital Marketing Software
Automotive Digital Marketing Software
Media & Entertainment Digital Marketing Software
Education Digital Marketing Software
Government Digital Marketing Software
BFSI Digital Marketing Software
Manufacturing Digital Marketing Software
Digital Marketing Software for Other End Uses
Based on Deployment
Cloud-based Digital Marketing Software
On-premise Digital Marketing Software
The global digital marketing software market players opt for various strategies to expand their market. They also make significant contributions in R&D to innovate their products to secure the forefront position in the market. Some of the recent developments among the key players are:
In April 2021, Adobe Inc, disclosed a partnership with FedEx to enhance e-commerce innovation. The integration will give Adobe merchants access to FedEx post-purchase logistics intelligence, which will help them drive demand, reduce cost and gain customer insights.
In April 2021, HubSpot developed its CRM platform by launching Operations Hub. With this platform, users can unify customer data in a connected CRM platform, automate a host of time-consuming tasks, maintain a clean database with ease, and ultimately, play an active role in shaping their company’s strategy.
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Key players in the Digital Marketing Software Market
Hewlett Packard Enterprise
Key Takeaways from Digital Marketing Software Market Study
The global digital marketing software market to value US$ 65 Bn in 2022
Professional digital marketing software to accumulate a revenue share worth 65% in 2022
North America to have procured about 44% of the market share in 2021
The cloud segment is expected to secure about 57% of the revenue share in 2021
Asia Pacific to experience significant market expansion, flourishing at a 12% value CAGR until 2032
Global digital marketing software demand to expand 5.6x from 2022 to 2032
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