Product marketing in the most innovative way has become the need of the hour for the organizations. All the enterprises are on a constant lookout for attractive marketing campaigns for their outbound and inbound customers. Multichannel campaign management or MCM assists the companies in creating and communicating with the customers. It uses different communication channels like direct mails, websites, and social media and so on to define the campaigns. According to the researchers, rapid rise in the demand is expected to be the major driving factor for the multichannel campaign management market. The industry is expected to witness steady growth over the next few years with rapid rise in technological advancements and innovative applications and channels in the market.
Major Market Drivers and Restraints
According to the researchers, the multichannel campaign management market is expected to be driven by rising demand from the businesses around the world. Expanding horizons of digital marketing and rising demand are also expected to drive the global market at a steady growth rate. Strong advancements in technologies and networks are also considered to be the major driving factors for the global market. According to them, growing competition and privacy concerns are expected to be the primary restraints for the MCM market. Apart from that, growing complexities with innovative technologies are also expected to hinder the growth of this market. However, the market is expected to witness growth opportunities from growth in the consumer centric solutions and proximity marketing.
Market Segmentation and Growth Prospects
Experts segment the global multichannel campaign management market on the basis of the types of software, services, their end-users and demand patterns from different geographic regions. Basic types of services in the market are categorized into training and support, integration and integration of systems and consulting. Major end-user segments in this market include enterprise, publishers and advertisers. Based on the geographic regions, the market is divided into North America, Europe, Asia Pacific and rest of the world. According to the latest reports, the global MCM market is expected to grow at a steady CAGR of 19% from 2014 to 2019. At the expected healthy growth rate, the market is anticipated to be worth $2.70 billion by the end of the year 2019.
The multichannel campaign management market is expected to be dominated by North America. Based on the growth in the demand and adoption rate, Asia Pacific region is expected to witness growth at the strongest rate.