NEW YORK, July 24, 2017 (GLOBE NEWSWIRE) -- According to a new market research report “Global Marketing Automation Software Market Size, Share, Development, Growth and Demand Forecast to 2023 - Industry Insights by Solution (Campaign Management, E-mail Marketing, Lead Nurturing, Inbound Marketing, Reporting and Analytics, Social Media Marketing, and Others), by Industry Vertical (Academic and Education, Advertising and Media, BFSI, Healthcare, Technology, Manufacturing and Distribution, Retail, and Others) by Deployment Type (Cloud and On-premise) by Business Size (Small and Medium Business, and Large Business),” published by P&S Market Research, the global marketing automation software market is projected to reach $6,929.7 million by 2023, growing at a CAGR of 8.5%, during 2017 - 2023.
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The study reveals that the global marketing automation software market is likely to grow from $3,943.2 million in 2016 to $6,929.7 million by 2023, on account of growing demand for greater digital customer experience, and automated customer retention.
As per findings of the research, e-mail marketing segment has been the leading contributor to the global marketing automation software market; however, demand for marketing automation software from technology industry is expected to grow at the fastest pace during the forecast period.
Geographically, North America has been the largest market for marketing automation software, across the globe, while Asia-Pacific is expected to grow at the fastest rate during the forecast period.
Globally, with rapidly increasing digital environment, personal attention toward customers matters the most to the businesses. Marketing automation helps in reaching out to the customers, digitally, by monitoring users' choice of products through the data collected from the automation software. It further helps in predicting the potential customers for additional sales. Some of the major trends observed in the global marketing automation software market are dynamic campaign management and integrated content marketing.
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Marketing automation helps the marketers in designing the campaigns without any technical or programming expertise, with a single drop and drag interface. While many platforms have difficulties in changing live and real-time campaigns, the tools provided by the marketing automation software allow changes and updates in such campaigns easily, without creating a new campaign.
Further, emergence of account based marketing is also a trend being observed in the global marketing automation software market. ABM platforms are capable of being integrated with a CRM or marketing automation tool, and enable marketers to run campaigns targeting accounts while delivering a higher return on investment (ROI) than other approaches.
Opportunities for the growth of global marketing automation software market include predictive intelligence in marketing automation as it has huge potential to make the market platform more scalable, faster and responsive through predictive technology.
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