The size of the marketing automation market was USD 5,332.6 million in 2022, and it will grow at a rate of 12.8% in the years to come, to reach USD 13,974.8 million by 2030, according to a report by P&S Intelligence
The requirement for automated marketing solutions and services is growing significantly with organizations becoming more digitally integrated and an increasing number of people using the internet and mobile devices for shopping.
The rising acceptance of digital marketing is one of the main reasons for the growth of the industry. Both SMEs and large enterprises are progressively accepting automation tools for advertising themselves on manifold channels, such as social media, email, and the web, and advancing the procedure of lead nurturing.
The development in digital campaigning is chiefly because of the increasing use of the internet in India, Japan, the U.S., China, Germany, the U.K., and other nations. Furthermore, most businesses are utilizing the automation software for making their digital promotion activities, including lead generation, relationship management, targeted segmentation, lead scoring, cross-selling and upselling, more fruitful. Furthermore, such software supports organizations in connecting with their likely customers, by analyzing their online activities.
Marketing automation software lets businesses produce leads by tracking and examining the activities and preferences of users, by means of the info users leave behind when browsing the internet. Moreover, with the assistance of such software, businesses can provide pertinent content to the potential customers, on the basis of their clicks and interactions on numerous social media platforms.
The increasing social media usage is also playing a vital role in the development of the industry. At present, social media platforms, including Twitter, Facebook, and Instagram, are driving novel forms of social interaction, giving businesses the aptitude to effortlessly reach a large count of potential customers.
SMEs will register the higher growth rate of, about 14%, in the marketing automation market, in the years to come. This is due to the increasing need for lessening burden of monotonous tasks, shift toward cloud computing, IoT, and other advanced technologies, and growing necessity for efficient business operations, ascertain the requirements of customers by analyzing their behavior on various online channels, and reducing operational expenditure.
Furthermore, these solutions provide cross-selling prospects, enhanced client engagement, reduced communication time, and augmented sales to smaller enterprises.
The cloud category had the larger market share, of over 70%, in the recent past. This has a lot to do with the vast implementation of the cloud computing technology amongst enterprises as it offers improved data access flexibility, high data storage, and reduced IT expenditure.
Hence, because of the increasing focus on business on promoting their product and services online, encouraged by the continuous growth of the e-commerce sector, the marketing automation industry is making giant leaps.
