The Marketing Automation Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Marketing Automation Global Market Report 2024, The marketing automation market size has grown rapidly in recent years. It will grow from $6.28 billion in 2023 to $6.95 billion in 2024 at a compound annual growth rate (CAGR) of 10.7%. The growth in the historic period can be attributed to demand for personalized customer experiences, lead generation and nurturing needs, streamlining marketing operations, measuring and analyzing campaign performance, alignment of sales and marketing processes.
The marketing automation market size is expected to see strong growth in the next few years. It will grow to $9.68 billion in 2028 at a compound annual growth rate (CAGR) of 8.6%. The growth in the forecast period can be attributed to rise of account-based marketing (ABM), AI and machine learning applications, focus on multichannel marketing, emphasis on customer retention and loyalty. Major trends in the forecast period include focus on customer retention automation, dynamic content automation, marketing operations and revenue attribution, compliance and data privacy automation, integration with customer relationship management (CRM) systems.
The increase in big data and data analytics solutions is expected to drive the growth of the marketing automation market going forward. Big data and data analytics have become extremely important tools for marketing automation companies since they let them get deep insights into customers, and the choices to provide the right offers at the right time, nurture their potential customers and help them with next-level lead scoring. A marketing automation company may dynamically respond to its present and future clients' behavior and design a strategy that works for them by leveraging methods and practices from big data and data science. For instance, according to Tech Jury, a US-based software and tech review company, by 2023, the big data analytics market will reach $103 billion. In addition, big data growth statistics reveal that data creation will be over 180 zettabytes by 2025. Furthermore, the Big Data banking analytics market was valued at $29.87 billion in 2019 and was expected to grow at a CAGR of 12.97% between 2020 and 2025, reaching $62.10 billion by 2025. Hence, the growth of big data and data analytics is acting as a primary marketing automation growth.
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The marketing automation market covered in this report is segmented –
1) By Component: Software, Services
2) By Deployment: On-Premises, Cloud
3) By Organization Size: Small and Medium-Sized Enterprises, Large Enterprises
4) By Application: Digital Marketing, E-Mail Marketing, Mobile Marketing, Inbound Marketing, Social Media Marketing, Campaign Management, Other Applications
5) By End-Use: BFSI, Retail, Healthcare, Telecom And IT, Discrete Manufacturing, Government And Education, Other End-Users
Major companies operating in the marketing automation market are focused on developing innovative products such as AI-enabled automation systems to gain a competitive edge in the market. AI-enabled automation systems refer to sophisticated technology solutions that combine artificial intelligence (AI) capabilities with automation processes to perform tasks and make decisions without human intervention. For instance, in September 2021, Oracle Corporation, a US-based computer software company, launched Oracle Fusion Marketing System, an AI-driven platform designed to automate lead generation and qualification processes for B2B marketing campaigns. This system leverages artificial intelligence to score leads, identify prospects ready to engage, and automatically generate qualified lead opportunities in CRM systems. By automating these crucial aspects of digital marketing, Oracle aims to address challenges associated with siloed data, disconnected workflows, and manual administration in CRM, providing marketers and sales professionals with a more efficient and integrated solution for engaging prospects and customers. The Fusion Marketing System is part of Oracle's broader efforts in the Adtech industry, complementing its offerings in Advertising and Customer Experience (CX).
The marketing automation market report table of contents includes:
1. Executive Summary
2. IT Consulting Market Characteristics
3. IT Consulting Market Trends And Strategies
4. IT Consulting Market - Macro Economic Scenario
5. Global IT Consulting Market Size and Growth
.....
32. Global IT Consulting Market Competitive Benchmarking
33. Global IT Consulting Market Competitive Dashboard
34. Key Mergers And Acquisitions In The IT Consulting Market
35. IT Consulting Market Future Outlook and Potential Analysis
36. Appendix
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