According to a new market research report, "Digital Marketing Software Market by Software (CRM, E-mail, Ecommerce, Marketing Automation, Web Analytics, Web Content Management & Social CRM) by Deployment (On-Premise, Cloud) by Verticals (BFSI, Retail, Manufacturing, & others) - Global Forecast to 2019", published by MarketsandMarkets, the global Digital Marketing Software Market is expected to grow from $25840.2 Million in 2014 to $56613.2 Million by 2019, at a Compound Annual Growth Rate (CAGR) of 17.0%
Digital marketing is the process of integrating platforms and customers' experience through a digital channel. Growing competition has necessitated the evolution of marketing strategies from selling to customer satisfaction and retention. Also, surge of internet and increased digitalization has given marketers enormous scope to target their customers and enhance user experience.
Digital marketing software's offers the prospect of increasing and improving the interactions and relationships with current and prospective customers through, for instance, social networking sites, instant messaging systems and mobile applications (apps). The increasing need of DMS (Digital marketing software) market is attributed by increasing digital marketing proportion in overall marketing budget of organization, real time marketing, large volume of unstructured data, increasing internet usage and broadband connections, emerging social media platform, and increasing adoption of mobile devices. All these factors are driving the growth of DMS market. Furthermore cloud solutions are playing significant role in propelling the growth due to its attributes that includes cost effectiveness, minimum IT investment, automatic integrations, and easy accessibility. Also, mobile marketing and social media marketing are the great ambassadors in the growth of this market.
The success of every organization is based on the performance levels and their competitiveness in the market. Hence it is of utmost importance to identify, acquire and manage the digital technology to deliver multimedia content to the potential customer based in different geographical location. Increased adoption of digital media is one of the key drivers which is also pushing the market of digital marketing software. Demand of social media and social advertising are also some of the key factors which are driving the growth of digital marketing software.
Digital Marketing software has high adoption rate in large enterprise as they have data support system and adequate capital that permit them to invest in this business optimizing software. Also, due to the increase of cloud adoption, the market of SMB's in Digital Marketing software is looking quite promising during the forecast period. The major challenges faced in this market are the integration across various Digital Marketing software. Lack of skilled personnel and use of traditional methodologies are acting as a hurdle in the growth of the market. Hence, technical skills need to be incorporated among the software user to analyse the results well.
Further, the market remains to be competitive with the entry of niche players. These players provide innovative integrated software thereby increasing their market bargain capability among the large vendors. The major vendors in the Digital Marketing Software Market are IBM, Oracle, Adobe systems, Hubspot, SaS, Microsoft, SAP, Marketo, Hp, Salesforce and many others.
The report also segments the market by sub-vertical: government, BFSI, retail, IT and telecom, manufacturing, retail, education, media and entertainment, and others (oil and gas, and transportation and logistics); and by region: North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America. The detailed analysis of the key industry players have been done to provide the insight on their product and services, strategies, and recent developments associated with the Digital Marketing Software Market.
