Digital Marketing Software Market Analysis Reveals Explosive Growth by 2026
Press Release : April 22, 2020
The global digital marketing software market based on component, software, service, deployment type, organization size, industry vertical, and region. In terms of component, the global digital marketing software market is classified into software and services. Based on software, the global digital marketing software market is categorized into customer relationship management software, email marketing software, social media advertising, search marketing software, web content management software, marketing automation software, campaign management, and video advertising.
On the basis of service, the global digital marketing software market is divided into professional service and managed service. By deployment type, the global digital marketing software market is classified into on-premises, cloud. In terms of organization size, the global digital marketing software market is segregated into large enterprises, small and medium-sized enterprises (SMEs). Based on industry vertical, the global digital marketing software market is classified into BFSI, transportation and logistics, consumer goods and retail, education, healthcare, manufacturing, media and entertainment, telecom and it, travel and hospitality, and others. Region wise into North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
Based on software, social media advertising facilitates enterprises to establish customer engagements and enhance their brand presence among the customers. With the growing interest of customers in social media, enterprises prefer to advertise their products on social media to enhance the advertisement performance tracking, which results in an increased return on investment.
In terms of industry vertical, the media and entertainment vertical is a major contributor to the digital marketing software market growth. Media companies invest in digital marketing software for integrating the data and analytics from multiple sources. The media and entertainment vertical is also reaping the benefits of digital marketing software by providing customers with personalized experience for acquiring new subscribers with an aim to retain them.
Digital marketing software share in overall marketing budget of firms and real-time marketing is on the increasing because of growing importance of digital marketing which rises need of digital marketing software thus driving market growth. Increasing internet usage and broadband connections make it a potential platform for developing customer interaction. High social media platform attractiveness and rise in mobile device usage make it a potential platform for customer interaction and engagement. Social media advertising has witnessed rapid growth, and it has become an efficient platform to publish a concept, idea or indirect advertisements. Increasing popularity of social media websites is anticipated to drive digital marketing software market over the forecast period.
Lack of skilled labor in coding and handling marketing software is supposed to hinder the market growth. Shortage of qualified employees has resulted in high fixed cost for software development thus rising prices for end-use customers. High costs involved in digital marketing is also anticipated to negate the market growth.
The rising popularity of videos and trending videos on the internet used by companies for advertising is replacing traditional television advertisements opening new market opportunities.
In terms of region, North America the largest market in the global digital marketing software market. The rising market share of this segment is predominantly due to the high budget availability to spend on new technologies. One of the major factors driving the growth of the digital marketing software market in North America is personalized marketing material appealing to an individual customer.
Some of the key players in the global digital marketing software market are Adobe System, Oracle Corporation, IBM Corporation, SAP AG, Microsoft, Marketo, Salesforce.com, INC., SAS Institute, INC., Hewlett-Packard, and Hubspot.
Scope of the Global Digital Marketing Software Market (DMS)
Global Digital Marketing Software Market (DMS) By Component
• Software • Services
Global Digital Marketing Software Market (DMS) By Software
• Customer Relationship Management Software • Email Marketing Software • Social Media Advertising • Search Marketing Software • Web Content Management Software • Marketing Automation Software • Campaign Management • Video Advertising
Global Digital Marketing Software Market (DMS) By Service
• Professional Service • Managed Service
Global Digital Marketing Software Market (DMS) By Deployment Type
• On-Premises • Cloud Global Digital Marketing Software Market (DMS) By Organization Size
• Large Enterprises • Small and Medium-sized Enterprises (SMEs)