17 June 2019, The global digital marketing software (DMS) market is subject to witness a substantial growth due to the increasing demand for advanced software solutions to perform the real-time analysis of the marketing campaigns by incorporating different digital mediums and channels. Digitalization of various business process to allow organization to target particular consumer base and enhance their experience is expected to drive the growth of the market over the next seven years. Globally, the market is predicted to grow at a significant CAGR in the forecast period, providing numerous opportunities for market players to invest for research and development in the digital marketing software market.
Ever-growing competition in the market has led to evolution of marketing strategies from advertising to customer satisfaction and customer retention. Additionally, growing demand for advanced software solution that helps organization to develop and maintain strong customer relationship via digital marketing channels are expected to boost the growth of the market over the forecast period.
Increasing number of tools embedded in digital marketing software (DMS) such as web analytics, email software, market automation software and customer-relationship management (CRM) is anticipated to favor market expansion in the near future. Additionally, use of web analytics, email software, market automation software and customer-relationship management (CRM) tools assist organization while creating and developing customer behavior & performance pattern. These tools also helps organization by contributing to personalizing, measure & optimize the marketing strategies. These factors are expected to stimulate the growth of market over the forecast period.
The market is broadly categorized into nine major segments based on the application type such as healthcare sector, BFSI sector, automotive industry, retail sector, manufacturing sector, IT & Telecom sector, government sector, education sector, and media & entertainment sector. The BFSI sector is considered as one of the fastest growing segment in the digital marketing software market with substantial revenue generation in the last few years. Growing popularity of digital marketing software (DMS) in the BFSI segment is attributed to the increasing adoption of digital marketing software, digital commerce and other similar functions.
The market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest technologies in advertising sector, increase in the number of research & development activities in the region and existence of well-established IT infrastructure.
Asia-Pacific region is predicted to hold major market share in the digital marketing software (DMS) market with massive growth in forecast period. Countries such as India, Japan, China and Singapore are leading the Asia-Pacific market with strong economic growth, rising disposable income, higher purchasing power, rising competition in the market, and significant investment by leading industry players considering potential growth opportunities in the region.
The key players in the digital marketing software (DMS) market are Adobe System, Inc., Oracle Co., IBM Co., SAP AG, Microsoft Co., Marketo, Inc., Salesforce.com, Inc., SAS Institute, Inc., Hewlett-Packard Enterprises and Hubspot, Inc.
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