The global marketing automation market size is anticipated to be valued USD 8.42 billion by 2027, as per a new report by Million Insights. It is estimated that the market would witness 9.8% CAGR over the forecast duration. Increasing focus by enterprises to retain their existing customers along with expanding their market reach is driving the market growth. In addition, marketing autonomous helps in automating different tasks such as social media, emails and website functions. Moreover, the advent of AI, data analytics and ML has further supplemented the growth of the market.
As per a survey, there were nearly 3.5 billion social media users and 3.9 billion email users. Email marketing remains to be an effective media for marketing where automation plays an important role. It involves sending solicit sales, advertisements, newsletters and donation request among others. Automation technologies help in generating leads along with successfully implementing marketing campaigns. Further, increasing penetration of social media and smart devices are also bolstering the market growth.
Increasing automation in marketing technologies is estimated to offer a lucrative opportunity for the market players. Major technology players are emphasizing on acquiring smaller ones to strengthen their market position. It was revealed in a survey that nearly 50% of the organizations are using marketing automation. Further, over half of the B2B companies are aiming to implement market automation in the next few years.
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Further key findings from the report suggest:
• It is estimated that the reporting & analytics category would dominate the marketing automation market over the next few years. Increasing use of AI, ML and data analytics in marketing is the major factor driving the segment growth.
• In 2019, cloud deployment accounted for the largest share in the market, primarily because of flexibility and scalability offered by it.
• The SMEs sector is predicted to be the highest growing from 2020 to 2027.
• Asia Pacific, on account of the presence of major economies, is estimated to grow with the fastest pace over the forecast duration.
• Major market players are IBM Corporation, Marketo, Inc., Salesforce.com, Cognizant, Oracle Corporation and Adobe Inc. among others.
Million Insights has segmented the global marketing automation market based on solution, deployment, enterprise size, end use and region:
Marketing Automation Solution Outlook (Revenue, USD Million, 2016 - 2027)
• Campaign Management
• Email Marketing
• Inbound Marketing
• Mobile Applications
• Lead Nurturing & Lead Scoring
• Reporting & Analytics
• Social Media Marketing
Marketing Automation Deployment Outlook (Revenue, USD Million, 2016 - 2027)
Marketing Automation Enterprise Size Outlook (Revenue, USD Million, 2016 - 2027)
• Large Enterprises
• Small & Medium Enterprises
Marketing Automation End-use Outlook (Revenue, USD Million, 2016 - 2027)
• Telecom & IT
• Discrete Manufacturing
• Government & Education
Marketing Automation Regional Outlook (Revenue, USD Million, 2016 - 2027)
• North America
• Asia Pacific
• Latin America
• Middle East & Africa