Increasing Focus on Personalized Marketing & Integration of Artificial Intelligence (AI) with Marketing Automation Software
Dublin, June 20, 2022 (GLOBE NEWSWIRE) — The “Global Marketing Automation Market: Analysis By Deployment Type, By Channel, By Enterprise Size, By Solution, By Application, By Region, Size and Trends with Impact of COVID-19 and Forecast up to 2026” report has been added to ResearchAndMarkets.com’s offering.
By 2021, the global marketing automation market was valued at US$5.45 billion. The market is anticipated to propel to US$8.58 billion by 2026.
Marketing Automation is software that automates the marketing process. In other words, marketing automation enables marketers to send customers automated messaging. The main goal of marketing automation software is to automate repetitive processes and improve the entire marketing process’ efficiency.
Marketing teams generally utilize marketing automation software to create sales leads across many channels, including email, websites, social media, and text messages. Marketing automation is thought to benefit the entire company and, in particular, the marketing team.
Reduced staffing costs, increased revenue and average deal size, improved accountability, and improved efficacy are all advantages of marketing automation to the company. The marketing automation market is expected to grow at a CAGR of 9.49% over the years 2022-2026.
Growth Drivers: The market has been growing over the past few years, due to factors such as increasing number of Gmail users, surging adoption of cloud computing technology, growing social media usage, escalating e-commerce adoption, and growing trend of mobile marketing.
Consumers all across the world have changed how they perceive information, share ideas, and investigate products and services before buying them. They are now well-versed in the classic sales and marketing approaches and have devised strategies to evade them. They’ve grown smarter as a result of technological advancements, and they rely largely on information found on search engines, blogs, and other social media sites.
Challenges: However, some challenges are also impeding the growth of the market such as data quality issues, problem of cyber security and high initial implementation cost. The increasing use of digital technologies, such as the cloud, mobile, Internet of Things (IoT) and artificial intelligence in more areas of business and the growing connectivity of everything depict greater challenges on the level of security, compliance and data protection.
Trends: The market is projected to grow at a fast pace during the forecast period, due to various latest trends such as integration of artificial intelligence (AI) with marketing automation software, increasing focus on personalized marketing, growing use of predictive analytics, growing shift towards multi-channel marketing and introduction of chatbots.
AI combined with marketing automation software, can empower businesses to better understand customer needs, translate data into decisions, interact with potential customers, and positively impact business outcomes. In fact, use of AI enables better personalization of offers, analysis of customer behavior and offers data to build mailing campaigns.
Market Segmentation Analysis:
By Deployment Type: The report identifies two segments on the basis of deployment type: Cloud and On-premise. Among the deployment type, cloud deployment dominated the market, with a share of around 58%. Cloud technology’s scalability and flexibility, as well as data center control, are some of the primary characteristics that are expected to increase the usability of cloud technology in the marketing automation market.
By Channel: The report provides the bifurcation of marketing automation market into eight segments on the basis of channel: E-mail Marketing, Social Media Marketing, Inbound Marketing, Mobile Application, Lead Nurturing & Lead Scoring, Campaign Management, Reporting & Analytics and Others . Among channel, due to the widespread usage of email promotions across industries and the growing use of mobile devices, email marketing channel dominated the market in 2021 with a share of 17%. However, reporting and analytics channel is expected to be the fastest-growing segment in the coming years.
By Enterprise Size: The report identifies two segments on the basis of enterprise size: Large Enterprises and Small and Medium Enterprises (SMEs). Marketing automation had few uses in the early stages of technological spread, and it was mostly used by large enterprises. With the digitalization of sectors and the increasing rate of internet and mobile device penetration, as well as the necessity to successfully engage consumers, a considerable number of SMEs have started incorporating automation solutions into their existing systems.
By Solution: The report provides the bifurcation of marketing automation market into six segments on the basis of solution: Cross Channel Campaign Management (CCCM), Real-time Interaction Management (RTIM), Lead-to-revenue Management (L2RM), Marketing Resource Management (MRM), Content Marketing Platform (CMP) and Through-channel Marketing Automation (TCMA). Content Marketing Platform is predicted to be the fastest growing segment, growing at a CAGR of around 17% during the forecasted period. Some of the key driving factors supporting the segment’s growth include a growing focus on improving customer experience, rising acceptance of new and emerging technologies and rising demand for analytics-based content marketing software.
By Application: The report provides the bifurcation of marketing automation market into eight segments on the basis of application: Retail, BFSI, Advertising & Design, Manufacturing & Distribution, Academic & Education, Healthcare, Media & Entertainment and Others. Many professionals in the healthcare industry have already implemented marketing automated strategies in order to save a great deal of time and resources.
Improved customer service, consistent messaging, personalized connections, and analysis and improvement of in-depth customer and campaign data are just a few of the primary benefits of marketing automation in the healthcare sector. The aforementioned benefits are the key factors expected to make healthcare sector a fastest growing segment, increasing at a CAGR of 12.5% during the forecasted period.
Impact Analysis of COVID-19 and Way Forward:
Digital solutions for marketing and sales automation are fast gaining traction. Marketing automation enables businesses to optimize their marketing campaigns, track their customers’ journeys, and create real-time information so they can respond to customers more quickly and effectively.
The COVID-19 pandemic has highlighted the need of marketing automation, since people have transferred their interactions with businesses and purchases to digital media. The pandemic has increased the importance of marketing automation as customers have massively shifted towards digital channels to interact with businesses and purchase products and services.
The pandemic has sparked a new e-commerce and internet marketing trend, which is expected to persist during the post-COVID period, propelling market growth. Furthermore, the growing demand for personalization and the incorporation of AI into marketing automation are expected to drive market growth in the post-COVID timeframe.
Collaborations, new product development, investments connected to growing capabilities, mergers and acquisitions, partnerships and agreements, and investments in research and development are just a few of the major strategies used by the players.
The key players of the global marketing automation market are:
Key Topics Covered:
1. Executive Summary
2.1 Marketing Automation: An Overview
2.2 Marketing Automation Segmentation: An Overview
2.2.1 Marketing Automation Segmentation
3. Global Market Analysis
3.2 Deployment Type Analysis
3.3 Channel Analysis
3.4 Enterprise Size Analysis
3.5 Solution Analysis
3.6 Application Analysis
4. Regional Market Analysis
4.1 North America Marketing Automation Market: An Analysis
4.2 Europe Marketing Automation Market: An Analysis
4.3 APAC Marketing Automation Market: An Analysis
4.4 ROW Marketing Automation Market: An Analysis
5. Impact of COVID-19
5.1 Impact of COVID-19
5.1.1 Impact of COVID-19 on Global Marketing Automation Market
5.1.2 Post-COVID-19 Scenario
6. Market Dynamics
6.1 Growth Driver
6.1.1 Increasing Number of Gmail Users
6.1.2 Surging Adoption of Cloud Computing Technology
6.1.3 Growing Social Media Usage
6.1.4 Escalating Ecommerce Adoption
6.1.5 Growing Trend of Mobile Marketing
6.2.1 Data Quality Issues
6.2.2 Problem of Cyber Security
6.2.3 High Initial Implementation Cost
6.3 Market Trends
6.3.1 Integration of Artificial Intelligence (AI) with Marketing Automation Software
6.3.2 Increasing Focus on Personalized Marketing
6.3.3 Growing Use of Predictive Analytics
5.3.4 Growing Shift towards Multi-channel Marketing
6.3.5 Introduction of Chatbots
7. Competitive Landscape
7.1 Global Marketing Automation Players by Market Share
7.2 The US Marketing Automation Players by Market Share
8. Company Profiles
8.1 Business Overview
8.2 Operating Segments
8.3 Business Strategy
For more information about this report visit https://www.researchandmarkets.com/r/f3auy1
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