The marketing automation market is predicted to develop at a CAGR Of 12.3% during the forecast period, from USD 4.9 Billion in 2022 to USD 15.7 billion by 2032.
Despite the worldwide economic slump, there has been no negative impact from the COVID-19 epidemic on the marketing automation market. The epidemic has had a favorable impact on marketing automation market growth.
Understanding the consumer’s brand choice boosts the likelihood of effectively contacting the correct customer. The marketing automation market has advanced due to an expansion in the number of marketing channels via which marketers can easily connect with their clients.
SMEs have resource limits when it comes to promoting their products and services. Marketing automation has a variety of advantages for SMEs. Drip marketing programs are well supported by marketing automation solutions. It helps SMEs to create high-quality emails and landing sites while tracking marketing initiatives.
The ease of access to open-source marketing automation technologies enhances the rate of marketing automation adoption among SMEs. In a competitive environment, the implementation of marketing automation opens up several prospects for SMEs.
Due to the increasing usage of modern technologies such as IoT and cloud computing, Asia Pacific is projected to have significant growth prospects in the next years. In the Asia Pacific, marketing automation adoption is lower than in the U.S. This is due to a lack of understanding among the region’s SMEs businesses.
Marketing automation companies see the Asia Pacific as a high-growth market for marketing automation software. The adoption of innovative technologies and the improvement in the economies of various APAC nations are driving marketing automation market expansion and encouraging solution providers to provide marketing automation software in this area.
Due to increased marketing spending by most regional end-user sectors and ever-growing social media usage, Europe’s marketing automation market is predicted to rise considerably during the forecast period. As a result, Europe is a valuable commercial hub for the marketing automation market.
KEY TAKEAWAYS:
• The marketing automation market in the United States is predicted to reach US$ 5.5 billion by 2032, with a CAGR of 12.1% through 2032.
• With a CAGR of 11.6% throughout the projected period, the United Kingdom is expected to reach a marketing automation market size of US$ 646.8 million by 2032.
• With a CAGR of 11.6% during the projection period, China’s marketing automation market is expected to be worth US$ 1.1 billion by 2032.
• By 2032, Japan’s marketing automation market is estimated to be worth US$ 921.2 million, with a CAGR of 10.6% during the forecast period.
• South Korea’s marketing automation market is estimated to reach US$ 574.8 million by 2032, with a CAGR of 9.9% during the forecast period.
• Software from the marketing automation market is expected to grow at the fastest CAGR of 12.2% in the component sector.
• Cloud is expected to develop considerably in the deployment type sector of the marketing automation market, with a CAGR of 12.1% through 2032.
COMPETITIVE LANDSCAPE:
The marketing automation market is dominated by companies such as Adobe, IBM, Oracle, Salesforce, Microsoft, HubSpot, Keep, Thryv, Sendinblue, Teradata, Act-On Software, and ActiveCampaign, SAS, GetResponse, SharpSpring, ClickDimensions.
RECENT DEVELOPMENT:
• Adobe’s journey optimizer gained mobile marketing personalization features in February 2022, allowing users to better engage with consumers on smartphones.
• The Dynamics 365 Marketing December 2021 upgrade allows users to construct journey branches based on any characteristic, track unsubscribed customers in real-time marketing analytics, and manage Microsoft Teams meeting choices from the Dynamics 365 Marketing app starting in December 2021. The update contains bug fixes and general performance improvements.
• Oracle launched Oracle Fusion Marketing, which is a component of Oracle Advertising and CX, in September 2021. Fusion Marketing is the first marketing automation tool designed to skip the whole lead qualifying and conversion process, allowing marketers to simply construct campaigns that transcend traditional marketing and advertising channels.
• Keep launching new text marketing capabilities in August 2021, to save time, reduce confusion, and simplify client interactions through automation.
