Digital Marketing Software Market Synopsis:
In the age of internet and social media, traditional advertising alone is not enough for marketing a product or service. Digital marketing is important as most people spend time on the internet. Hence, the market for software useful for digital marketing is growing. Market Research Future (MRFR) has published a research report about the global digital marketing software market that anticipates advancement at 19.4% CAGR between 2018 and 2025. By value, the market has been figured to be worth the USD 119,077.5 mn by the end of the forecast period.
The critical factors driving the global Digital Marketing Software Market growth are high penetration of smartphones and the adoption of social media channels for advertising. Other market driving factors include escalating demand for digital marketing software, increasing the relevance of online media channels, and the integration of big data analytics and artificial intelligence (AI) in such software. Such software provides companies with customer insights and their buying patterns.
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Major Key Players:
Key players in the global digital marketing software market include Adobe Systems (USA), HP Enterprise Development L.P (USA), Hubspot Inc. (USA), IBM Corporation (USA), Microsoft Corporation (USA), Oracle Corporation (USA), SAP SE (Germany), and SAS Institute Inc. (USA).
The global digital marketing software market segmentation covers application, type, and region. Under the application-based segmentation, the covered segments are Banking, financial services and insurance (BFSI), high tech & information technology (IT), manufacturing, media & entertainment, retail, transportation & logistics, and others. By 2025, the media & entertainment application can be worth $ 35,195.9 mn, whereas the retail segment (growing at 21% CAGR during the forecast period) can be worth $ 35,736.8 mn.
By type, this market has been segmented into content production & management, data & analytics system, interaction systems, and management & administration-oriented apps. During the forecast period, the interaction systems segment can exhibit growth at 19.7% CAGR and its worth can be USD 53,340.2 Mn by 2025. Data & analytics system segment can rise by 20.5% CAGR as the data is a valuable asset in understanding consumer behavior.
The regional segmentation of the global digital marketing software market includes the regional markets that are USA, China, India, Japan, Europe, and Southeast Asia. In the USA, the market is strong due to the increasing adoption of digital marketing software in retail, media & entertainment, and other industry verticals. Other factors escalating the market growth include technological advancement, availability of high-speed internet, presence of many important market players, the higher number of mobile devices as well as their users, strong IT industry, and developed IT infrastructure.
In China and India, the market is growing due to the stable growth of the IT industry in these countries. Many IT companies from North America and Europe are investing in these countries to develop the IT infrastructure. As the number of English speakers is more in India, in many cases, India is being preferred by American and European countries over China. In both countries, internet penetration is increasing, and due to the high density of population in both countries, the digital marketing of any product or service can promote the same to a huge pool of potential customers.
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Latest Industry News:
- Ad technology platform Adform has launched Trusted Partners Program with nine companies. This program allows global advertisers to consolidate and optimize their outsourced services as well as integration processes. 13 JUNE 2019
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