North America Marketing Automation Software Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

North America Marketing Automation Software Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

The North America Marketing Automation Software Market is expected to register a CAGR of 11.2% during the forecast period from 2021 to 2026. Growing enterprise demand for a strategic marketing approach focused on creating and distributing valuable and relevant content to attract and engage a specifically defined audience, the increased presence of marketing automation vendors, and growing government support are major factors driving the market growth during the forecast period.

• Marketing Automation facilitates the coordination of various sales teams to generate and keep track of leads. The marketing team uses the massive amount of data generated to plan and refine their campaigns. E-commerce websites like eBay and Amazon use products like these to customize their pages based on previous customer visits.
• Additionally, marketing automation software provides marketing teams with various solutions for seamlessly performing repetitive tasks. The rise of social media and the importance of maintaining a digital presence are significantly propelling the market's growth. The software can be used in email marketing campaigns as well as online advertising campaigns. The increasing use of social media platforms for disseminating information, creating a brand image, and reaching out to followers impacts the market.
• Increased SaaS usage and significant advancements in Cloud Computing contribute to the market's growth. Marketing automation is a briskly growing subset of the CRM software market.
• Further, the incorporation of artificial intelligence and machine learning in search engines by using frequently used search phrases and optimizing them for maximum market reach is likely to be a new strategy for large corporations. Predictive analytics can help them meet the changing needs of their customers and focus their spending accordingly. Campaigns can be designed to meet the needs of the user to generate leads and improve the customer experience and, in turn, drive the market automation software market.
• However, data privacy and security are critical considerations when implementing digital enablement technologies. As SMAC technologies become more widely used, organizations will require more robust security and privacy safeguards to prevent breaches. The issue of security has an impact on digitalization's success. As the number of customer data sets grows, so will the number of security and privacy issues, and endpoint, gateway, and smartphone can become a likely target for hackers. Data security and privacy is a bottleneck that must be effectively addressed.

• The Manufacturing sector encompasses businesses that use mechanical, physical, or chemical processes to transform raw materials into finished goods. This sector also includes assembling parts into new, complex goods, except where construction should be considered. Goods can be sold to end-users directly or to wholesalers for resale.
• Marketing automation enables users in the manufacturing sector to create workflows that are triggered based on defined actions such as submitting a contact form, downloading a product spec sheet, or opening an email.
• Once a prospect is added to a workflow, they will receive a series of follow-up messages, each with a compelling proposition or relevant content tailored to their specific interests. Each follow-up is intended to guide the prospect through the funnel and create a sales-qualified lead - one who is closer to closing, with less time and effort spent on the sales side.
• The manufacturing industry in North America can generate substantial revenue for the automation software market in the coming years, owing to the increasing adoption of automated solutions by market leaders. Integration of content resource management (CRM) and automation software for streamlining the marketing tasks can drive its demand in the industry.
• Moreover, manufacturers are emphasizing the importance of enhancing America's technological leadership to secure their future. There is a general agreement that United States continues to be a significant contributor to R&D investment and that U.S. investments in technology have paid significant dividends in current manufacturing competitiveness. The rapid adoption of technology by United States is a major growth driver.

• The retail market in North America is undergoing significant change with internet access on various devices such as smartphones, tablets, and laptops. Consumer shopping habits are changing as a result of what they see online. Social media has an impact on product sales and brand image. Online shopping is becoming more popular in the region, with more and more retailers selling their products on the internet. Consumer behavior online and in stores is being tracked to generate massive amounts of data.
• To cope with the rapid shift in consumer preferences and provide efficient services, retailers adopt marketing automation software. Automated product recommendations are one of the significant revenue-boosting features in the marketing automation arsenal. Marketers can provide a consistent customer experience and build stronger customer relationships with marketing automation for the retail industry.
• It Improves Average Transaction Value by cross-selling and upselling products, which is made possible by endorsing personalization in automated recommendations across all communication channels.
• With marketing automation in retail, users can ease retention and loyalty marketing strategies and increase their customer lifetime value.
• The retail marketer can automate requests for feedback, reviews; launch unique campaigns to high spending customers; trigger consumer engagement and re-engagement campaigns when subscribers become distant. These tactics not only strengthen the marketer's rapport with their customers but also increase their lifetime value.

The North America Marketing Automation Software Market is highly competitive and consists of several major players like Oracle, Adobe, IBM Corporation, etc. These companies are leveraging strategic collaborative initiatives to increase their market share and profitability. The competition, rapid technological advancements, and frequent changes in consumer preferences are expected to pose a threat to the market's growth of the companies during the forecast period.

• October 2021 - Sandler Systems, Inc., a full-service professional development and training organization, and HubSpot, a leading player in global CRM platform for scaling companies, partnered to assist sales teams in embracing the new world of sales that is a melding of in-person sales skills with marketing and sales automation technology.
• September 2021 - Oracle announced the launch of Oracle Fusion Marketing, a new solution for automating lead generation and qualification. The new solution offers marketers a marketing automation solution that uses artificial intelligence (AI) to automatically score leads at the account level, predict when customers are ready to speak with sales and generate qualified sales opportunities in CRM systems. Fusion Marketing is a product in Oracle's Advertising and Customer Experience (CX) portfolio that is currently available in a limited release.

• The market estimate (ME) sheet in Excel format
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