Digital marketing software is used in analyzing customer behavior on social media channels. The tectonic shifts in technology and other metrics used in estimating customer insights are likely to beckon its utilization by organizations of all sizes. The global digital marketing software market size report analyzes niche trends, opportunities, and challenges for the period of 2020 to 2030 (forecast period). The impact of the COVID-19 pandemic on the industry is looked at at a granular level and estimations on the industry are adjusted according to the various market dynamics.
The global digital marketing software market is expected to exhibit an astounding 19.20% CAGR over the forecast period, as per the latest report by MRFR. It is touted to touch a valuation of USD 264.5 billion by 2030. The main drivers of the market are the penetration of smartphones, the influence of social media channels, and investments by companies of all sizes. As per the survey of Omnicore Agency, there are close to 3.03 billion consumers connected on social media channels globally, with the numbers set to rise further. The emergence of mobile advertising, monitoring of shopping patterns, and a large number of consumers are likely to propel the market to great heights.
The new digital marketing software trends of email marketing, influencer marketing, chatbots, automated campaigns, and trend of videos for marketing to new demographics can bode well for the market. The COVID-19 pandemic is a golden opportunity for digital marketing specialists as more consumers will shop online and be open to discounts and offers. The manufacturers of essential products will experience a heavy windfall with DMS companies able to introduce new tools to understand customer behavior.
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By type, the market is divided into data & analytics system, interaction systems, content production & management, and management & administration-oriented apps. The interaction systems segment is expected to clock an impressive 19.5% CAGR over the forecast period. The development of various mobile applications and clean interfaces for interacting with users can drive the segment growth. On the other hand, data & analytics system can touch a valuation of USD 33,667.2 million by 2025. The data-driven strategy adopted by various companies to increase their reach and formulation of new strategies can drive the segment growth during the assessment period.
Major market applications comprise retail, BFSI, media & entertainment, manufacturing, high tech & IT, and others.
Region-specific analysis of the global digital marketing software market spans across namely the U.S., Europe, China, India, Japan, and South-East Asia.
The U.S. market is expected to lead the digital marketing software market with an expected valuation of USD 28,785.6 million by 2025. The regional market can bank upon people’s tendency to adopt these latest trends and reap the benefits of superior infrastructure and better network facility. In addition, the use of influencer marketing and location-based advertising to persuade customers can drive the regional market growth.
Europe can expect to reach a valuation of USD 27,598.9 million during the forecast period at an impressive CAGR of 16.2% during the forecast period. The region is driven by the use of personal assistants and chatbots used in engaging customers and driving sales of products.
China can be a fierce competitor for any regions as its market valuation is expecting a manifold upgradation from USD 2,571.9 million in 2018 to USD 14,145.4 million with a stellar 27.6% CAGR during the forecast period. Japan can reach a market valuation of USD 6,528.9 million during the same period with a 22.6% CAGR during the same period. India, on the other hand, can register the fastest growth rate during the forecast period by having a CAGR of 31.7% and scaling a valuation of USD 11,550.6 million.
HP Enterprise Development L.P, SAP SE, IBM Corporation, Oracle Corporation, Microsoft Corporation, SAS Institute Inc., Hubspot Inc., and Adobe Systems are key players of the global DMS market. The accumulation of large swathes of data, burgeoning cloud infrastructure, and data analytics used in churning out valuable insights are prime factors responsible for the continuous development of digital marketing software by the players.
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