Overview and Scope
Marketing automation is the process of employing technologies to automate repetitive marketing processes. When it comes to following up on leads and guiding potential clients through the conversion funnel, automation can save marketers a lot of time. Customer relationship management (CRM) and customer data platform (CDP) software are frequently integrated with marketing automation software. It helps to identify potential customers, automating the process of nurturing the leads to sales readiness.
Sizing and Forecast
The marketing automation market size has grown rapidly in recent years. It will grow from $6.28 billion in 2023 to $6.95 billion in 2024 at a compound annual growth rate (CAGR) of 10.7%. The growth in the historic period can be attributed to demand for personalized customer experiences, lead generation and nurturing needs, streamlining marketing operations, measuring and analyzing campaign performance, alignment of sales and marketing processes.
The marketing automation market size is expected to see strong growth in the next few years. It will grow to $9.68 billion in 2028 at a compound annual growth rate (CAGR) of 8.6%. The growth in the forecast period can be attributed to rise of account-based marketing (ABM), AI and machine learning applications, focus on multichannel marketing, emphasis on customer retention and loyalty. Major trends in the forecast period include focus on customer retention automation, dynamic content automation, marketing operations and revenue attribution, compliance and data privacy automation, integration with customer relationship management (CRM) systems.
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Segmentation & Regional Insights
The marketing automation market covered in this report is segmented –
1) By Component: Software, Services
2) By Deployment: On-Premises, Cloud
3) By Organization Size: Small and Medium-Sized Enterprises, Large Enterprises
4) By Application: Digital Marketing, E-Mail Marketing, Mobile Marketing, Inbound Marketing, Social Media Marketing, Campaign Management, Other Applications
5) By End-Use: BFSI, Retail, Healthcare, Telecom And IT, Discrete Manufacturing, Government And Education, Other End-Users
North America was the largest region in the marketing automation market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the marketing automation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increase in big data and data analytics solutions is expected to drive the growth of the marketing automation market going forward. Big data and data analytics have become extremely important tools for marketing automation companies since they let them get deep insights into customers, and the choices to provide the right offers at the right time, nurture their potential customers and help them with next-level lead scoring. A marketing automation company may dynamically respond to its present and future clients’ behavior and design a strategy that works for them by leveraging methods and practices from big data and data science. For instance, according to Tech Jury, a US-based software and tech review company, by 2023, the big data analytics market will reach $103 billion. In addition, big data growth statistics reveal that data creation will be over 180 zettabytes by 2025. Furthermore, the Big Data banking analytics market was valued at $29.87 billion in 2019 and was expected to grow at a CAGR of 12.97% between 2020 and 2025, reaching $62.10 billion by 2025. Hence, the growth of big data and data analytics is acting as a primarymarketing automation growth.
Key Industry Players
Major companies operating in the marketing automation market report are Microsoft Corporation, International Business Machines Corporation, Oracle Corporation, SAP SE, Salesforce.com Inc., Cognizant Technology Solutions Corporation, Adobe Inc., SAS Institute Inc., Teradata Corporation, HubSpot Inc., Thryv Holdings Inc., Marketo Inc., ActiveCampaign Inc., Mirum Shopper Marketing, Keap Inc., Act-On Software Inc., SharpSpring, Inc., Infusionsoft Inc., Banjo Inc., Enjoy Digital Inc., Ontraport Inc., Autopilot HQ Inc., Greenrope Inc., Digitant LLC, Envigo RMS Holding Inc., eTrigue Corporation, Neuro Tags LLC, Prospect.io, Sendinblue SAS, Insidesales.com Inc.
The marketing automation market report table of contents includes:
1. Executive Summary
2. Marketing Automation Market Characteristics
3. Marketing Automation Market Trends And Strategies
4. Marketing Automation Market – Macro Economic Scenario
5. Global Marketing Automation Market Size and Growth
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31. Marketing Automation Market Other Major And Innovative Companies
32. Global Marketing Automation Market Competitive Benchmarking
33. Global Marketing Automation Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Marketing Automation Market
35. Marketing Automation Market Future Outlook and Potential Analysis
36.Appendix
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