Digital Marketing Software Market Worldwide Demand, Growth, Industry Revenue, Business Views By 2030
Increasing internet subscribers and the growing adoption of mobile devices are the factors responsible for the growth of the digital marketing software market.
PORTLAND , PORTLAND, OR, UNITED STATE, September 13, 2022 /EINPresswire.com/ — According to a new report published by Allied Market Research, The digital marketing software market size was valued at $48.4 billion in 2020, and is estimated to reach $181.0 billion by 2030, growing at a CAGR of 14.1% from 2021 to 2030. The report offers an in-depth analysis of the market, covering aspects such as the key investment pockets, drivers, restraints, & opportunities, major market segments, strategic developments, and competitive landscape.
The boom in social media & advertising and the rise in digital marketing budget drive the growth of the global digital marketing software market. On the other hand, the lack of skilled personnel for coding and handling the marketing software hamper the market growth. However, the emergence of SaaS-based solutions is expected to create lucrative opportunities for the digital marketing software market players.
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Based on types, the interaction systems segment held over two-fifths of the market share in 2021 and would dominate the market through 2030. However, the management & administration-oriented apps segment is likely to witness the fastest CAGR of 18.9% from 2021 to 2030. The other types analyzed in the study include data & analytics systems and content production & management.
Based on deployment, the on-premise segment was the largest in 2021, grabbing nearly three-fifths of the market share, and is expected to maintain its revenue lead through the study period. However, the cloud segment would grow at the fastest CAGR of 17.1% through 2030.
The market in North America held more than one-third of the market share in 2021. However, Asia-Pacific would grow at the fastest CAGR of 17.4% during the forecast period. The other regions analyzed in the study include Europe and LAMEA (Latin America, Middle East, and Africa).
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Based on the industry vertical, the media & entertainment segment is expected to grow at the fastest rate during the forecast period. This is attributed to cost-effective advertising which is a major driving force for the global digital marketing software market. It helps in improving the demand and financial forecast for the media & entertainment industry. Furthermore, the retail & E-commerce segment is forecasted to exhibit fast growth during the forecast period.
The digital marketing software industry has been positively impacted by the COVID-19 outbreak. As more businesses enter the online marketplace, the competition for traffic becomes even greater. For this reason, digital marketing plays a critical role in building brand recognition and increasing traffic to business websites. A comprehensive digital marketing software industry strategy starts with creating a search-optimized website and includes an active social media presence.
The key players analyzed in the market report are Adobe Systems, Oracle Corporation, IBM Corporation, SAP AG, Microsoft Corporation, Salesforce.com, Inc., HubSpot, Inc., Marketo Inc., SAS Institute, Inc., and HP Development Company, L.P. These players have adopted various market strategies such as partnerships, collaboration, mergers & acquisitions, new product launch to strengthen their foothold in the industry.
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Key Findings of the Digital Marketing Software Market:
• The interaction systems segment is expected to exhibit a significant increase in the global digital marketing software market during the forecast period.
• In 2021, the media & entertainment segment accounted for the highest revenue among the other industry verticals.
• On-premise deployment generated the highest revenue in 2021.
• Asia-Pacific is anticipated to exhibit substantial growth during the forecast period.
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