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“Optimizing digital experiences to meet changing customer preferences is driving the Digital Marketing Software (DMS) market”
The DMS market size is expected to grow from USD 37.48 billion in 2017 to USD 74.96 billion by 2022, at an estimated Compound Annual Growth Rate (CAGR) of 14.9% during the forecast period. This market is driven by personalized marketing material appealing to an individual customer, and the growth of social media and social advertising. On the other hand, security and privacy concerns for confidential data may restraint the DMS market growth.
“CRM software is expected to hold the major market size during the forecast period”
CRM plays an important role in any business process, as it holds and manages databases that are related to customers. The CRM software tracks customer’s behavioural pattern and helps in sending personalized and automated messages. The evolving landscape of data across all business channels necessitated the usage of CRM for seamless business functionality. The CRM software also includes sales CRM which handles all the sales process starting from sales tracking to sales forecasting; this software takes care of entire sales process such as lead generation and qualification, real-time forecasting, sales stage and probability analysis, pipeline management, thereby converting prospects into sales opportunities. Marketers are in dire need of this software, and hence will invest significantly to boost their market revenue growth.
“Services segment is expected to grow at a higher CAGR during the forecast period”
Services considered for the DMS market are professional and managed services. These services assist organizations in deploying the solutions on their premises or the cloud. The services market is quite promising in the future due to various integration platforms. Services help organizations in building successful customer relationships by continuously supporting them through the business tenure. Digital marketing services offer organizations with several advantages, including the maximization of resource usage, enhancement of marketing project execution, and streamlining the marketing operations. The demand for services is said to be increasing in the enterprises as the adoption of managed and professional services is growing across major verticals.
“Asia Pacific (APAC) is expected to have high growth potential during the forecast period”
Being the most populated region in the world, APAC is expected to have a huge growth potential pertaining to DMS adoption. Major countries in this region, such as Australia, Singapore, China, Korea, Hong Kong, and India are increasingly investing in DMS. However, this region demands skilled digital marketing professionals to close the skill gaps and adopt new digital technologies for better business operations. The growth in this region is primarily driven by the presence of half of the world’s mobile users, highest social media users, rising trend of online shopping experience, and increasing internet connection and speed. All these factors are contributing to the growth of the DMS market in APAC.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with the key people.
The break-up of profiles of primary participants is given below as:
- By company: Tier I – 50%, Tier II – 30%, and Tier III – 20%
- By designation: C-Level – 70%, D-Level – 18%, and Others – 12%
- By region: North America – 40%, Europe – 28%, APAC – 25%, MEA –5%, and Latin America – 2%.
The DMS ecosystem comprises major vendors, such as Adobe Systems Incorporated (US), Oracle Corporation (US), SAP SE (Germany), Salesforce.com, inc. (US), IBM Corporation (US), Marketo, Inc. (US), Microsoft Corporation (US), HubSpot Inc. (US), SAS Institute Inc. (US), Act-On Software (US), and SimplyCast (Canada).
The report includes in-depth competitive analysis of these key players in the DMS market, with their company profiles, recent developments, and key market strategies. The research report segments the DMS market by component (software and service), deployment type, organization size, industry vertical, and region.
Reasons To Buy the Report
The DMS market has been segmented on the basis of components (software and services), deployment types, organization sizes, industry verticals, and regions. The report will help leaders/new entrants in this market in the following ways:
- The report segments the DMS market comprehensively and provides the closest approximations of the revenue numbers for the overall market and subsegments. The market numbers are further split across various industries and regions.
- The report helps stakeholders understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
- This report will help stakeholders in better understanding the competitors and gaining more insights to better position their businesses.
- There is a separate section on competitive landscape, including competitor ecosystem, and mergers and acquisitions. Besides, there are company profiles of 11 players offering services in this market. In this section, market internals have been provided that can put them ahead of the competitors.