New York City, NY, 27 November, 2019/ 24 Market Reports: It is estimated for the digital marketing software market to reach USD 74.99 billion by 2022 from that of USD 33.44 Billion in 2016 witnessing a growth of CAGR 14.7% during the forecast period of 2017 to 2022. The growing trend of personalized marketing and the proliferation of mobile devices are the factors propelling the growth of the market during the forecast period.
Cloud-based digital marketing software to gain high traction during the forecast period
During the forecast period, it is estimated for the cloud-based digital marketing software deployment to gain traction and grow at a higher CAGR. Due to their attributes including cost-effectiveness, minimum IT investment, automatic integrations, and easy accessibility the cloud solutions are playing a significant role in propelling their growth. Also, mobile marketing and social media marketing are driving the growth of cloud-based digital marketing software solutions. However, security concerns remain the factor that is hindering the growth of the market during the forecast period.
The media and entertainment vertical to hold the largest size in the market
Transportation and logistics, healthcare, consumer goods and retail, manufacturing, and energy are the verticals where digital marketing software is gaining huge traction as its associated services are being increasingly adopted by these industry verticals. This is fueling the growth of the digital marketing software market across the globe. During the forecast period, the media and entertainment vertical are expected to hold the largest size in the market. However, consumer goods and retail vertical is expected to provide growth opportunities for digital marketing software vendors during the forecast period.
North America to dominate the global digital marketing software market during the forecast period
North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America are the segmentation for the market based on geography. During the forecast period, it is expected for North American to dominate the global market considering the presence of large digital marketing software vendors in the region. Marketers are keenly participating in the revolution of increasing the ROI as the digital revolution has created a connected world where boundary does not matter. With regards to technology adoption and infrastructure, the region is considered to be one of the most advanced regions.
Security concerns to hamper the growth of the market during the forecast period
Security remains one of the major identified restraints affecting the widespread adoption of digital marketing software in the global market along with the challenge of integrating digital marketing software tools with the business applications as security and privacy concerns for the confidential data are hampering the growth of global digital marketing software market.
The following are the major objectives of the study:
- To define, describe, and forecast the digital marketing software market on the basis of product, application and region.
- To provide detailed information regarding major factors influencing growth of the market (drivers, restraints, and opportunities).
- To strategically analyze micromarkets with respect to individual growth trends, future prospects, and contributions to the overall market.
- To analyze the opportunities in the market for key stakeholders and provide details of the competitive landscape for leading market players.
- To forecast the size of the market segments with respect to four main regions, namely, North America, Europe, Asia-Pacific, and the Rest of the World (RoW).
- To strategically profile the key market players and comprehensively analyze their market shares and core competencies.
- To track and analyze competitive developments such as acquisitions, expansions, new product launches, agreements, and collaborations in the digital marketing software market.
Critical Questions which the report answers:
- What are the major vendor/manufacturers in the market? What is their growth potential during next decade?
- What are the key revenue generating pockets for digital marketing software market and their future potential during next decade?
- How competitive landscape is evolving in digital marketing software market?
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