Digital Marketing Software Market Synopsis:
The global digital marketing software market is expected to touch a valuation of USD 119,077.5 million by 2025, as per the latest report by Market Research Future (MRFR). This can be attributed to the growing adoption rate of such software to track the success of marketing campaigns. Popularity of social media channels and pervasiveness of smartphones among consumers have made digital marketing software an indispensable tool of companies. Its use in gleaning customer insights can spur the Digital Marketing Software Market Trends demand from 2018 to 2025 (forecast period).
Social media channels such as Facebook and Instagram which provide a platform to reach huge numbers of consumers and enrich their online experience is one of the biggest market drivers. Rising use of smartphones have made it a medium for digital advertising. Emerging economies of India, China, and Brazil are prime opportunities for the digital marketing software market to expand successfully. Increasing preference for online shopping owing to easy access to the Internet and availability of affordable smartphone options can bolster market growth over the forecast period. Emergence of disruptive technologies such as big data, predictive analytics, and artificial intelligence (AI) can spur its growth. But data privacy concerns may pose a challenge to the market.
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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).
Digital Marketing Software Market Segmentation:
The global digital marketing software industry 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.
Digital Marketing Software Market Regional Segmentation:
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. The emergence of various social media platforms has made mobile advertising lucrative in both of these countries. Hence, the demand for digital marketing software is increasing in these countries. During the forecast period, the Indian market can grow at 31.7% CAGR, whereas China is expected to grow at 27.6% CAGR.
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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