The global Digital Marketing Software Market size is expected to reach USD 151.8 billion by 2027, registering a of CAGR 17.4% from 2020 to 2027, according to a new study conducted by Grand View Research, Inc. The software can integrate multiple digital content delivery platforms so that organizations can plan, design, and execute marketing campaigns on their own. The software is utilized by companies to perform an in-depth and real-time analysis of campaigns. The proliferation of the internet and the growing use of social media are encouraging companies to increase their spending on creating interactive and intuitive digital content for marketing purposes. This, in turn, is anticipated to drive the market over the forecast period.
The
advent of social media has dramatically enabled organizations to increase
customer engagement via influencers, allowing organizations to engage in
content-driven publicity. Furthermore, the on-going innovations in digital
marketing technologies such as virtual influencers and its subsequent
applications in the retail industry are anticipated to fuel market growth. For
instance, Channel S.A and PRADA have adopted Lil Miquela, a virtual influencer
developed by Brud for advertising their products. Moreover, the increasing
adoption of Voice of the Customer (VoC) techniques such as online-hosted
customer communities that defines a customer’s preference for future products
is anticipated to boost the demand for the software over the forecast period.
Moreover, the outbreak of COVID-19 has positively impacted the market owing to
the increasing social media marketing activities among industries such as
automotive, BFSI, education, and healthcare.
Artificial
Intelligence (AI) is extensively used to build data models automatically in
digital forms and collect data from multiple sources. AI is positively
impacting the market, as organizations are emphasizing the adoption of this
technology for improving the customer experience. For instance, CogniCor
Technologies has integrated AI in its digital marketing software to enable end
users to enhance the complaint resolution activities, resulting in an increased
level of customer satisfaction. Thereby, the companies offering AI in their
software are likely to stay competitive in the market.
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Digital
Marketing Software Market Report Highlights
- The
marketing automation software is anticipated to gain traction over the
forecast period to perform activities such as lead nurturing and
collaboration among teams to promote business
- The managed
services segment is expected to grow significantly over the forecast
period. This can be attributed to the advantages provided by managed
services such as remote monitoring and cost-effective management of IT
infrastructure through subscription-based pricing models
- The cloud
deployment model is expected to gain traction over the forecast period due
to its cost-effectiveness and increased accessibility
- The SMEs
segment is anticipated to grow remarkably owing to the increasing adoption
of social media platforms such as Facebook, Pinterest, and Instagram, by
SMEs for activities related to sales and promotion
- In Asia
Pacific, the digital marketing software market is anticipated to witness
significant growth owing to increasing popularity of social media,
e-commerce, and m-commerce particularly in emerging economies such as
India, Indonesia, and Thailand
- Key players
operating in the market include Adobe, Inc.; Hewlett Packard Enterprise
Company; Hubspot, Inc.; IBM Corporation; Marketo, Inc.; Microsoft
Corporation; Oracle Corporation; Salesforce.com, Inc.; SAP SE; and SAS
Institute, Inc.
About Us:
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and headquartered
in San Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
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Grand View Research, Inc
Phone: 1-415- 349-0058
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Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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