digital marketing software market

digital marketing software market

The digital marketing software market is valued at around USD 40 billion in 2019 and is estimated to grow at a CAGR of 18.4% over the forecast period (2020-2027).

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Factors driving the growth of the digital marketing software market include increasing prevalence of smartphones and laptops, increasing preference for mobile and social media marketing, and increasing use of digital marketing software by businesses to enhance customer relationships. It is included. According to a report published by Statista, smartphone penetration in India was estimated at around 46.44% in 2019 and is expected to reach 96% by the end of 2040, accelerating the size of the digital marketing software market in the coming years. I will. In addition, increasing adoption of advanced technologies by organizations such as artificial intelligence (AI) and machine learning (ML), government initiatives to promote digitization, and rising trend of online shopping are driving the global digital marketing software market. are some of the additional factors that complement the In addition, increasing investment by major players in R&D, innovation in digital marketing software, rapid urbanization, increasing disposable income, and increasing population growth rate further contribute to the growth of the market.

However, lack of skilled workforce is hampering the growth of the digital marketing software market.

Major players operating in the digital marketing software market are International Business Machines Corporation, Microsoft Corporation, Oracle Corporation, Cognizant Technology Solutions Corporation, Synup Corporation, SAP SE, SAS Institute Inc., Alphabet Inc., Salesforce.com Inc. , and HubSpot. Inc. etc.

Based on deployment, the cloud segment is projected to grow at a significant CAGR during the forecast period

Cloud-based digital marketing software helps you minimize infrastructure costs and create efficient marketing campaigns on social media platforms. These are some of the drivers for the growth of the segment.

Based on type, the email marketing segment is projected to expand at a robust CAGR over the forecast period

Email marketing helps create personalized content, collect client feedback, increase sales, and increase business leads, and is some of the factors driving growth in the segment.

Based on region, Asia-Pacific is expected to grow at a remarkable CAGR during the forecast period

Increasing adoption of advanced technology by major companies, rapid growth of the e-commerce industry, growing preference for online shopping, rising per capita income, and high population growth rate are key factors driving market growth in the Asia-Pacific region. are some of the factors.

Main development

In 2019, Synup Corporation introduced Intent Marketing Cloud, a next-generation customer acquisition platform. It helps companies enhance brand building, reputation management, and customer acquisition across their digital presence.
In 2020, Cognizant Technology Solutions Corporation completed its acquisition of Lev, a US digital marketing consultancy. It enables businesses to simplify, modernize, and gain data-driven insights from their marketing campaigns with Salesforce Marketing Cloud.

market segmentation

Segmentation by expansion

on the premises
Cloud

Segmentation by type

search engine software
content marketing software
social media marketing
email marketing
mobile marketing
marketing automation software
others

Segmentation by end-use industry

IT and Telecom
media and entertainment
BFSIMore
retail
manufacturing industry
Health care
others

Regional segmentation

Asia Pacific
China
Japan
India
Rest of Asia Pacific

North America
united states of america
Canada

Europe
England
Germany
France
Spain
rest of europe

line
Brazil
South Africa
Saudi Arabia
United Arab Emirates

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This release was published in openPR.