FACTS AT A GLANCE
Edition: 9; Released: April 2021
Executive Engagements: 35293
Companies: 128 – Players covered include Adobe, Inc.; Hewlett Packard Enterprise Company; Hubspot, Inc.; IBM Corporation; Marketo, Inc.; Microsoft Corporation; Oracle Corporation; Salesforce.com, Inc.; SAP SE; SAS Institute, Inc. and Others.
Coverage: All major geographies and key segments
Segments: Component (Software, Services); Deployment (Cloud, On-Premise); Vertical (Media & Entertainment, BFSI, IT & Telecom, Consumer Goods & Retail, Travel & Hospitality, Transportation & Logistics, Other Verticals)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Rest of Europe; Asia-Pacific; Latin America; Middle East; Africa.
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Global Digital Marketing Software Market to Reach $129.3 Billion by 2026
Digital marketing software refers to the use of solutions that enable advertisements on digital platforms and social-media websites. The digital marketing industry has witnessed rapid growth over the last decade due to significantly increased internet penetration and the proliferation of mobile and electronic devices across the world. Growth prospects in the global market is being spurred by the increase in digital marketing spend and surge in social media and advertising. Increasing digital marketing budget and growing popularity of social media & advertising are expected to provide a major boost to market growth. Growing trends like increasing usage of mobile devices and personalized marketing are shifting organizations’ marketing strategies, making them more focused on boosting user experience. Businesses are increasingly adopting digital marketing software for managing customer relationships through better assessment of consumer behavior throughout different business channels. Growing use of the solutions in various sectors such as IT, telecom, media and entertainment, manufacturing, healthcare, education, retail, consumer goods, logistics and transportation, and BFSI is expected to fuel growth. Apps related to management and administration is likely to register strong growth through the forthcoming years.
Amid the COVID-19 crisis, the global market for Digital Marketing Software estimated at US$55 Billion in the year 2020, is projected to reach a revised size of US$129.3 Billion by 2026, growing at a CAGR of 15.1% over the analysis period. Software, one of the segments analyzed in the report, is projected to record 14.4% CAGR and reach US$103.7 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Services segment is readjusted to a revised 16.8% CAGR for the next 7-year period. The dominance of the software segment could be attributed to the fast and ever-evolving technology environment as well as the dynamic efforts of businesses to keep their systems up-to-date on the latest technology in order to remain ahead of competitors in the market. Marketing automation software is likely to gain increased adoption for carrying out activities such as collaboration between teams and for lead nurturing to drive business. Growth in the Services segment is due to the evolving industry and the increasing need for adoption of digital marketing services such as subscription-based pricing models and remote monitoring.
The U.S. Market is Estimated at $20.8 Billion in 2021, While China is Forecast to Reach $17.5 Billion by 2026
The Digital Marketing Software market in the U.S. is estimated at US$20.8 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$17.5 Billion by the year 2026 trailing a CAGR of 18.5% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 11.4% and 14.1% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 13.7% CAGR. The US represents the largest market due to its technologically sophisticated and large consumer base. The rapid growth of cloud computing platforms in the region is also expected to boost the usage of content management, marketing automation and CRM solutions. Rapid growth in Asia-Pacific region will be driven by increasing internet penetration and proliferation of smartphones in large countries such as China and India. More
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