Global Marketing Resource Management (MRM) Market - 2024-2031

Global Marketing Resource Management (MRM) Market - 2024-2031

Global Marketing Resource Management (MRM) market reached US$ XX million in 2023 and is expected to reach US$ XX million by 2031, growing at a CAGR of XX% during the forecast period 2024-2031.

Marketing resource management (MRM) is an approach to marketing management that focuses on the marketing team’s entire pool of resources, from marketing team staff to the marketing budget.

MRM also covers manufacturing procedures, managing outside vendors, and even managing digital assets. MRM is a comprehensive marketing strategy that strives to maximize production, reduce expenses, streamline operations, and organize data to create a fully operational marketing department.

Market Dynamics: Drivers & Restraints

Increasing technological advancements

The increasing technological advancements and the introduction of new platforms for improving marketing strategies are expected to drive market growth. Marketing automation solutions may be integrated with MRM systems to automate repetitive operations like lead nurturing, social media scheduling, and email marketing campaigns.

This enables marketing teams to concentrate on developing innovative content and strategic objectives. This enables marketers to give a consistent, satisfying brand experience across all touchpoints and to personalize interactions. For instance, on April 27, 2023, Image Relay launched a marketing delivery solution. The new cloud-based solution combines and extends digital asset management (DAM) and product information management (PIM) capabilities to enable organizations to organize, connect, manage, and distribute all digital assets and product information quickly, easily, and accurately.

Additionally, on June 6, 2023, Planful Inc., introduced a marketing plan builder, making Planful for Marketing the first end-to-end solution for building, presenting, executing, and measuring marketing plans. Thus, the above factors are expected to drive the market growth.

High cost and implementation challenges

The costs associated with implementing MRM solutions can be high and include those related to software license, customization, and integration with pre-existing marketing tools. Small and medium-sized businesses (SMBs) with tight finances may find this to be a hindrance. Thus, these factors can hamper the market growth.

Segment Analysis

The global marketing resource management (MRM) market is segmented based on solution, deployment mode, organization type and region.

Project Management segment is expected to dominate the market growth

Project management segment holds the dominant position in the market share. In marketing resource management, project management is a prerequisite. To efficiently handle these marketing activities, MRM applies project management concepts. Communication and cooperation between stakeholders and members of the marketing team are facilitated by project management capabilities found in MRM systems.

The introduction of highly advanced tools for project management is expected to drive market growth. For instance, in February 2024 Spurt! launched team and project management tool, Sync!. Sync! is available globally and is free to use throughout the beta period.

Project Management tools have a huge demand from many multinational companies due to their efficiency in managing the projects and the company's requirements. Thus, the above factors are expected to hold the segment in the dominant position dring the forecast period.

Geographical Analysis

North America is expected to hold a significant position in the Marketing Resource Management (MRM) market share

North America is expected to hold the dominant position in the market share owing to technological advancements and the introduction of tools. Businesses from a variety of sectors make significant investments in marketing, which fuels the need for MRM solutions to handle intricate campaigns and maximize marketing return on investment. The introduction of a variety of platforms to manage marketing resources is driving the region’s market growth.

For instance, in February 2024, VanEck launched SegMint GmbH, a digital assets management platform aimed at revolutionizing the digital assets landscape by improving accessibility and security. The idea for SegMint came out of VanEck’s digital assets research effort.

In March 2024, SpotOn introduced SpotOn Marketing Assist which is designed to streamline the restaurant marketing process. SpotOn Marketing Assist is the first product of its kind to empower restaurants to drive guest visits and boost sales while eliminating the time and resources needed for self-serve marketing tools. Thus, the above factors are expected to drive the region’s market growth and is expected to hold the dominant position in the market share.

COVID-19 Impact Analysis

Marketing resource management (MRM) has been significantly impacted by the COVID-19 epidemic. The pandemic caused financial difficulties for many firms, which resulted in budget cuts for marketing. This has first caused investments in fresh MRM solutions to stop or caused delays in the upgrade of already-existing systems. Businesses were compelled by the pandemic to modify their marketing plans. The emphasis moved to internet platforms like e-commerce and social media marketing.

Market Segmentation

By Solution
• Project Management
• Marketing Asset Management
• Capacity Planning Management
• Brand and Advertising Management
• Financial Management
• Marketing Analytics

By Deployment Mode
• On-Premise
• Cloud

By Organization Type
• Small and Medium-sized
• Large

By Region
• North America
U.S.
Canada
Mexico
• Europe
Germany
UK
France
Italy
Spain
Rest of Europe
• South America
Brazil
Argentina
Rest of South America
• Asia-Pacific
China
India
Japan
Australia
Rest of Asia-Pacific
• Middle East and Africa

Competitive Landscape

The major global players in the market include Aprimo, SAP, SAS, Infor, Wrike, Inc., HCL Technologies Limited, Screendragon, ClickUp among others.

Why Purchase the Report?
• To visualize the global marketing resource management market segmentation based on solution, deployment mode, organization type and region as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of marketing resource management market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global marketing resource management market report would provide approximately 53 tables, 49 figures and 182 pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies