Global Marketing Automation Market - Market Size & Forecast To 2032

Global Marketing Automation Market - Market Size & Forecast To 2032

The marketing automation market reached USD 6.13 Billion in 2023 and it is projected to grow at a CAGR of11.40% during the forecast period. Marketing automation is a novel technology which helps in managing marketingprocesses and multifunctional campaigns easily across varied channels automatically. Key industry trends formarketing automation comprise of chatbots, incorporation of machine learning platforms and artificial intelligence,automated social media marketing, predictive customer lifetime value and mobile marketing among others.

Key factors driving the growth of the market included the rise in adoption of AI and ML in programs coupled with therising need for optimizing marketing spending. Additionally, the rise in implementation of SMAC technologies suchas social, mobile, analytics and cloud will further aid in boosting the market growth in the coming years.

However, security and privacy concerns might play a vital role in restricting the market growth. Penetrating developingeconomies with customer centric approach and high adoption of marketing automation solutions among Small andmedium-sized enterprises (SMEs) will further create lucrative opportunities for key market players.

The market automation market is segmented based on component, organization size, deployment type, applications,end use industry and regions.

Based on component, the market is segmented into software and services. Software segment is expected todominate the market in 2021. This owing to the large demand of varied software for smooth functioning ofenterprises by managing the entire marketing channels. Additionally, the increasing demand to automate as well asenhance marketing processes will also help in driving the market growth.

Based on organization size the marketing automating market is segmented into large enterprises and small &medium-sized enterprises (SMES). Large enterprises dominated the market in 2021 and is expected to continue thistrend during the forecast period. This is due to the huge employee base in large enterprises and thus costs more forthe software.

Based on deployment type, the market is segmented into on-premises and cloud. Cloud deployment is expected toregister a faster growth rate during the analysis period owing to the scalability and cost-effectiveness as it can helpin minimizing the CAPEX costs associated.

Based on application, the market is segmented into lead nurturing & lead scoring, email marketing, social mediamarketing, analytics & reporting and campaign management. Social media market is expected to grow at the fastestCAGR during the analysis period due to the rising trend of varied social medial platforms and the growing number ofusers in a daily basis.

Based on end use industry the marketing automation market is segmented into BFSI, IT & telecoms, retail &consumer goods, travel & hospitality, healthcare & life sciences, education, media & entertainment, manufacturingand others. IT & telecom end use industry is expected to dominate the market in 2021 and is expected to continuethis trend during the study period as well. This mainly due to the advent of technological advancements to boost theadoption of it and telecom industry in the market.

Based on region, the Marketing automation market is segmented into North America, Europe, Asia-Pacific, MiddleEast and Africa, and South America. North America dominated the global market in 2021 and is expected to continuethis trend during the forecast period. The rise in adoption of such novel software and rising demand from enterprisesfrom this region will further aid in the market growth.

The competitive scenario highlights the performance of major companies operating in this market. This includes thedetailed profiling of major companies and their competitive benchmarking. Product profiling provides key informationincluding products/solutions offered, key developments, company performances, and strategies adopted in recentyears. Major companies profiled in the market include Adobe, Hubspot, Salesforce, Sendinblue, Activecampaign,Simplycast, Clickdimensions, Leadsquared, Kiap, Getresponse, SAS, Oracle, Acoustic, Act-On Software, Ontraport,Sharpspring and Net-Results.