Digital Marketing Software Market Overview:
The growing competition has necessitated the emergence of marketing strategies from sales to satisfaction and retention of customers. Further, the growth in internet penetration and digitalization has provided the marketers with immense scope to target their customers and enhance the user experience.
Digital marketing software offers the prospect of improving the customer interaction through various sources such as instant messaging systems, social networking sites, and mobile apps. The rise in adoption of digital marketing software is attributable to the increase in digital marketing budgets in organizations, widespread social media platforms, and increased internet penetration. Moreover, the cloud solutions have also played a prominent role owing to its benefits including minimum IT investments, cost effectiveness, and ease of accessibility.
Asia-Pacific is expected to grow at a significant pace during the forecast period. Interaction systems services segment led the market in 2016 and is expected to continue to do so in the near future. Furthermore, the media & entertainment industry dominated the overall market and deploy the digital marketing software on a larger scale.
The key factors that drive the global market are increase in digital marketing budget and boom in social media & advertising. However, factors such as increased complexities and lack of skilled personnel hamper the market growth to a certain extent.
The report focuses on the growth prospects and restraints of the market based on the analysis of regional trends. The study provides Porter’s Five Forces analysis of the industry to understand the impact of various factors such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers on the growth of the market.
The global digital marketing software market is segmented based on type, deployment type, industry vertical, and geography. Based on type, it is divided into interaction systems, data & analytics systems, content production & management, and management & administration-oriented apps. Based on deployment type, it is bifurcated into on-premise and cloud deployment. Based on industry vertical, it is classified into retail, media & entertainment, manufacturing, high-tech & IT, Banking, Financial Services, and Insurance (BFSI), and others. By geography, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA including country level analysis for each region.
The key players operating in the global digital marketing software market include Adobe Systems, Oracle Corporation, IBM Corporation, SAP AG, Microsoft Corporation, Salesforce.com, Inc., HubSpot, Inc., Marketo Inc., SAS Institute, Inc., and HP Development Company, L.P.
Global Digital Marketing Software Market Segmentation
Top Impacting Factors
According to our analysis, the market is expected to be driven by rise of digital marketing budget and boom in social media & advertising. However, increased complexities and lack of skilled personnel are expected to hamper the market growth during the forecast period.
Boom in Social Media & Advertising
The growth in rate of internet penetration and digitalization paired with the boom in social media & advertising industry drives the market for digital media marketing software. The digital marketing software enhances the relationships and interactions with customers for the purpose of increasing sale.
Number of Active Social Media Users Around the World
Increase in Digital Marketing Budget
Enterprises spend a significant amount of money on their websites to increase sale of their products/services. Furthermore, these companies invest millions of dollars for integrating advanced marketing capabilities in their portfolios. They are also able to reach out for existing customers and new prospects through real-time and more personalized informative messaging.
Marketing a product/service involves several complications, it integrates various stakeholders throughout the enterprise, suppliers & agencies, and multiple media & channels. Digital marketing is highly driven by consumer behavioral changes that gives rise to complex, large, and highly dissimilar marketing landscape.
- This study includes the analytical depiction of the global digital marketing software market along with current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities.
- The current market is quantitatively analyzed from 2016 to 2023 to highlight the financial competency of the industry.
- Porter’s Five Forces analysis illustrates the potency of buyers & suppliers in the global digital marketing software industry.
Digital Marketing Software Market Key Segments:
- Interaction systems
- Data and analytics systems
- Content production & management
- Management & administration oriented apps
By Industry Vertical
- Media & Entertainment
- High-Tech & IT
- Others (Automotive and Healthcare)
By Deployment Model
- Cloud Deployment
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Latin America
- Middle East
Key Market Players
- Adobe Systems
- Oracle Corporation
- IBM Corporation
- SAP AG
- Microsoft Corporation
- Salesforce.com, Inc.
- HubSpot, Inc.
- Marketo Inc.
- SAS Institute, Inc.
- HP Development Company, L.P.