The Digital Marketing Software 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 Digital Marketing Software Global Market Report 2024, The digital marketing software market size has grown rapidly in recent years. It will grow from $79.07 billion in 2023 to $94.78 billion in 2024 at a compound annual growth rate (CAGR) of 19.9%. The growth in the historic period can be attributed to emergence of online platforms, data analytics advancements, mobile device proliferation, social media influence, globalization and market expansion.
The digital marketing software market size is expected to see exponential growth in the next few years. It will grow to $203.49 billion in 2028 at a compound annual growth rate (CAGR) of 21.0%. The growth in the forecast period can be attributed to e-commerce expansion, privacy and compliance focus, expansion of video marketing, emergence of new marketing channels, integration with corm and sales tools. Major trends in the forecast period include AI and machine learning integration, increasing digitalization, technological advancements, multi-channel marketing, customer experience (CX) focus.
The rising popularity of location-based, video, and social media advertising is expected to propel the growth of the digital marketing software market going forward. Location-based advertising refers to the practice of delivering targeted ads to consumers based on their geographic location. Social media platforms like Facebook and Instagram offer location-based advertising options that allow businesses to target users based on their location data. Due to the visual aspect of social media networks, individuals can establish a visual identity and increase brand exposure across large audiences. A component of its digital transition is the sales and marketing section. For instance, in April 2023, according to Hootsuite, a Canada-based software company, more than 4.74 billion people across the world used social media, and in 2022, the number of social media users increased by 4.2%. Therefore, the rising popularity of location-based, video, and social media advertising is driving the growth of the digital marketing software market.
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The digital marketing software market covered in this report is segmented –
1) By Solution: CRM Software, Email Marketing, Social Media, Search Marketing, Content Management, Marketing Automation, Campaign Management, Other Solutions
2) By Services: Professional Services, Managed Services
3) By Deployment: Cloud, On-Premise
4) By Organization Size: Large Enterprises, Small And Medium Enterprises (SMEs)
5) By Industry: BFSI, Transportation And Logistics, Consumer Goods And Retail, Education, Healthcare, Manufacturing, Media And Entertainment, Telecom And IT, Travel And Hospitality, Other Industries
Major companies operating in the digital marketing software market are developing innovative technology such as self-serve marketing communications platform, which helps brands leverage technology into creativity and marketing. Self-serve marketing communications platforms (SMPs) are cloud-based software solutions that empower businesses of all sizes to manage their marketing communications without relying on dedicated agencies or designers. For instance, in August 2023, Bharti Airtel, an India-based provider of telecommunications providers, launched Airtel IQ Reach. t’s designed to empower SMBs to drive targeted customer engagements through personalized communications in a cost-effective manner.
The digital marketing software market report table of contents includes:
- Executive Summary
- Market Characteristics
- Market Trends And Strategies
- Impact Of COVID-19
- Market Size And Growth
- Segmentation
- Regional And Country Analysis
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- Competitive Landscape And Company Profiles
- Key Mergers And Acquisitions
- Future Outlook and Potential Analysis
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