The global digital marketing software market is expected to grow with the CAGR of approximately 17.4% during the forecast period. The market growth has been attributed towards application across major verticals such as retail etc. Retailers require connection with customers in the right moment with numerous sales channels and technologies which creates the demand for e-commerce software as it is mostly utilized for personal communication as well as for exchange of quotations, financial transactions and catalogs. Moreover, increasing competition in the global world has created opportunity for digital marketing software to compete with the firms. Rise in competitive environment has increased the growth of marketing strategies varying from sales to retention. Therefore, rise of web and increasing digitalization has given huge opportunity for marketers to concentrate on their clients and develop better relations with customer. The success of each company is considered on the basis of performance levels and competitiveness in the industry. Thus, it is a great significance to obtain, distinguish and manage the digital innovation in order to supply digital content to people in the world.
Geographically, North America is the leader in the digital marketing software market. Increasing media & entertainment industry creates pressure among film marketers to choose better medium for market their films which drives the demand for digital marketing software in the region. However, Asia Pacific is expected to be the fastest growing region during the forecast period (2016-2023). China, India and Singapore are expected to witness potential growth in near future due to increasing government support to digitalization in the region. The presence of major players such as IBM Corporation (U.S.), Hewlett Packard (U.S.), Adobe Systems (U.S.), Amazon Web Services (U.S.), Microsoft Corporation (U.S.), Oracle Corporation (U.S.), Fujitsu Ltd. (Japan) etc. are creating opportunity for high innovations which will enable the market to solve data security and privacy concerns and increase effectiveness.
The global digital marketing software market is categorized on the basis of organization size, vertical, software, services and deployment type. Based on organization size, the digital marketing software market is further classified into small & medium businesses (SMBs) and large enterprises. According to vertical segment, the market is further classified into BFSI (Banking, Financial Services & Insurance), healthcare, retail, IT & Telecom, government, automotive, media & entertainment, education and manufacturing. The deployment type is further classified into cloud-based and on-premise. Based on software segment, the digital marketing software market is further classified into web content management, e-commerce software, marketing automation software, web analytics software, e-mail software, CRM software and social CRM. According to service segment, the market is further classified into managed services, professional services and deployment & integration services.