Marketing automation is a software platform that assists the organizations in marketing their products more effectively. It provides maximum benefit to the part-time marketers, consultants and special departments in different enterprises. This platform plays a crucial role in increasing efficiency and reducing the possibilities of human errors. It covers a broad range of automation tools, which reaps maximum benefits for the investors. The marketing automation software market is strongly driven by the growth in the rate of adoption across the world. Rapidly evolving technology and demand from different marketing channels are also expected to provide vital traction for the market.
Scope of Research for the Industry
In order to understand the scope of research and future investment opportunities, researchers segment the global marketing automation software market into different major components. These components include the types of applications, deployment models, end-users, and demand for the industry products from different geographic regions. The types of applications mainly include e-mail marketing, campaign management, inbound marketing, mobile applications, reporting and analytics, lead scoring and nurturing, social media marketing and such other channels. Cloud-based and on-premises deployment models of these software are used by small and medium businesses as well as large enterprises.
What Drives the Market?
According to the researchers, the global marketing automation software market is steadily driven by the increasing channels that are being used for the purpose of marketing. Rapid rise in demand and adoption of the existing technologies is also a crucial factor driving this market. Rapid adoption of cloud-based technologies across different end-user industries is also expected to provide vital growth opportunities for the market. However, issues like data privacy, technology shift, and availability of various complementary solutions are expected to restraint the current growth of the industry. Finding customer specific solutions are also expected to be a crucial challenge for the market.
What to Expect?
As per the latest research reports, the marketing automation software market is expected to grow at a steady compound annual growth rate. From 2014, the industry is expected to witness a healthy CAGR of over 8% to become worth $5.5 billion by the end of the year 2019. Despite limited resources, technological advancements in the market are helping the key players to witness strong business opportunities during the next few years to come. North America region is expected to be the strongest geographic region on global scale, in terms of market size and share. Emerging markets on the other hand are expected to witness the strongest growth in terms of CAGR. Latin America region is expected to witness increasing traction during near future.