Marketing Automation Market

According to Stratistics MRC, the Global Marketing Automation Market is accounted for $5.96 billion in 2023 and is expected to reach $15.68 billion by 2030 growing at a CAGR of 14.8% during the forecast period. Automating tedious marketing tasks using software is known as marketing automation. In addition to increasing productivity, marketing teams may automate monotonous processes like social media posting, email marketing, and even ad campaigns to provide their clients a more individualized experience. These processes are accelerated and made simpler by the technology underlying marketing automation. The majority of companies view marketing automation as a middle-of-the-funnel technology that works well for nurturing prospects through pre-written email sequences. A disconnected experience for prospects and customers as they travel from marketing to sales to customer care might result from this strategy, even though email marketing is a wonderful application of marketing automation.

According to the CMO Survey by American Marketing Association and Duke University in January 2021, B2B product marketers in the United States suggested that their spending on traditional advertising was expected to decline by 0.61% in the following year, while the digital marketing spending was projected to increase by 14.32%



Market Dynamics:

Driver:

Automated marketing solutions are being adopted by various small and medium-sized businesses

Due to the growing demand to lessen the burden of repetitive tasks, the move toward the internet of things (IoT), cloud computing, and other cutting-edge technologies, as well as the growing demand for streamlined business operations, capturing customer requirements from various sources, and lowering operational costs. Additionally, cross-selling opportunities, enhanced client involvement, shorter contact times, and greater sales to smaller businesses are all provided by marketing automation tools.

Restraint:

Integrating marketing automation tools with other enterprise software

The consumer journey has grown more complicated as a result of the quick changes in consumer purchasing behaviour since it now incorporates several touch points and channels. To determine the ROI, the marketing automation software gathers client information from a variety of apps. However, enterprises still have significant difficulties integrating new solutions with their current systems due to system complexity and implementation costs. The vendor must be able to integrate the suggested solution with the client's business systems in order for the customer to profit from the marketing automation software. Despite a vendor's best efforts, budget restrictions and a lack of resources prevent start-ups or smaller enterprises from implementing this organic strategy, creating a problem for this industry.

Opportunity:

A growing number of applications for AI and machine learning

The marketing environment has seen significant change during the past few decades, particularly more recently. Enterprises now have access to a vast quantity of data, and they get this data from every source imaginable. Therefore, regardless of their size, structure, or business strategy, firms have begun using marketing automation solutions after realizing the necessity for innovative new technology and comprehending the limitations of present technologies. For businesses, marketing automation has opened up new possibilities. Additionally, AI and ML are seen as the upcoming marketing revolution. By removing manual labor, monotonous jobs, personnel expenses, and human error, the use of AI and ML in marketing automation software provides businesses a competitive edge thereby propelling the market growth.

Threat:

Concerns about confidentiality and privacy

Organizations today need increasingly rigorous security and privacy measures to avoid breaches as the use of SMAC technology has increased. If these measures are not taken seriously, the success of digitalization will be negatively impacted. It's critical to adequately handle the issue of data security and privacy. The cloud-based marketing automation software has a higher prevalence of other security risks, such as account hijacking, insider threats, malware injections, unsecure Application Programming Interfaces (APIs), shared vulnerabilities, and data loss.

Covid-19 Impact

As consumers strive to take advantage of the benefits of marketing automation software and services, such as expansions and lower cost, the COVID-19 pandemic has accelerated the adoption of marketing automation solutions across business verticals. As organizations become more digitally integrated, more people are using the internet, and more people are using mobile devices, the need for marketing automation solutions has been growing substantially.

The reporting & analytics segment is expected to be the largest during the forecast period

The reporting & analytics segment is estimated to have a lucrative growth, due to the system supports success monitoring and provides performance data to enhance advertising return on investments, maximize the channel mix, and give long-term trends. Additionally, AI is helping businesses stay current with little effort, delivering consumers personalized information and advice, and offering one-on-one human-like support through chat bots and virtual assistants. Moreover, technology firms play a crucial role in the development of integrated software suites that combine analytics marketing automation, customer relationship management (CRM), and content management system (CMS) to provide comprehensive solutions.

The manufacturing & distribution segment is expected to have the highest CAGR during the forecast period

The manufacturing & distribution segment is anticipated to witness the highest CAGR growth during the forecast period. Manufacturing industries' transition to digitization has facilitated businesses' more efficient customer engagement. Additionally, according to a 2018 research by the Content Marketing Institute, the sales and promotion departments of about 30% of firms were automated. CRM and marketing automation integration will help the industrial sector automate time-consuming manual chores and streamline everyday operations. In the upcoming years, it is projected that this will accelerate the use of marketing automation systems in the discrete manufacturing sector.

Region with largest share:

Asia Pacific is projected to hold the largest market share during the forecast period owing to the rising internet usage, increased internet penetration, and increased use of mobile devices. Additionally, the significant expansion of the manufacturing sectors in nations like China and India would increase the usefulness of marketing automation solutions in the next years. Due to a sharp increase in digital advertising across multiple social media platforms, the value of marketing automation solutions has been rising in the Asia Pacific region. Social media platforms in China, including WeChat, Weibo, and Tieba, have emerged as important venues for advertising, assisting businesses in improving their customer-focused initiatives which further drives the market growth.

Region with highest CAGR:

Asia Pacific is projected to have the highest CAGR over the forecast period, owing to significantly boosting their IT investment. Due to the growing use of cutting-edge technologies like IoT and cloud computing, Asia Pacific is anticipated to enjoy significant growth prospects in the next years. Additionally, the significant expansion of the manufacturing sectors in nations like China and India would increase the usefulness of marketing automation solutions in the next years. Due to the fact that several businesses are concentrating on using digital platforms to keep their clients, the market for marketing automation has been steadily expanding throughout this epidemic in this region.



Key players in the market

Some of the key players profiled in the Marketing Automation Market include Acoustic, L.P., Active Campaign, Act-On Software, Adobe Systems Incorporated, Drip, Hubspot, Inc., Keap, Klaviyo, Marketo Inc, Microsoft Corporation, Omnisend, Oracle, Salesforce, Salesfusion Inc., SAP SE , SAS SE, Teradata Corporation and Thryv

Key Developments:

In May 2023, ActiveCampaign Introduces Content Generation Powered by AI, he beta release of ActiveCampaign AI is available now in its email designer and will provide customers with in-context content generation while building out their emails.

In April 2023, ActiveCampaign Expands in LATAM, Invests in Improved Customer Experience, ActiveCampaign is making a larger investment in the region by expanding engineering and customer teams to improve the global customer experience and operations of the business.

In February 2022, Adobe added mobile marketing personalization capabilities to journey optimizer that enables users to better engage their customers on smartphones. The seven capabilities include Message Designer, with which users can design personalized email, push notifications and in-app messages.

Components Covered:
• Solutions
• Services

Applications Covered:
• Email Marketing
• Campaign Management
• Mobile Applications
• Inbound Marketing
• Reporting & Analytics
• Lead Nurturing & Lead Scoring
• Social Media Marketing
• Sales Enablement Programs
• Other Applications

Enterprise Sizes Covered:
• Large Enterprises
• Small & Medium Enterprises

End Users Covered:
• Education
• Healthcare
• Advertising & Design
• Manufacturing & Distribution
• Retail
• Media & Entertainment
• BFSI
• IT & Telecom
• Financial Services
• Government
• Other End Users

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances