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.
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.
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, 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 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.
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