The Marketing Automation Market size is expected to grow at a Compound Annual Growth Rate (CAGR) of 12.8% during the forecast period, to reach USD 9.5 billion by 2027 from USD 5.2 billion in 2022.
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Services help organizations in effective integration and implementation of marketing automation software with the existing in-house infrastructure
The services segment of marketing automation is expected to have a promising future due to various integration of marketing applications. Services help organizations in building successful customer relationships by continuously supporting them through their business tenure. They also benefit the organizations by enhancing the marketing project execution and streamlining marketing operations. The growing need for integrating marketing automation with other enterprise business applications to drive the growth of marketing automation services. These services offered by vendors help users select the best marketing automation software, which is appropriate to their business needs
The Cloud-based marketing automation solutions help reduce the overall costs and provide highly flexible and scalable access to solutions through the IT infrastructure hosted by the cloud service provider.
The rising shift from On-premises to cloud infrastructure is propelling the demand for marketing automation solutions. This is due to various benefits of the cloud that include 24×7 data accessibility, rapid implementation, reduced setup, and operational cost, which is Capital Expenditure (CAPEX) and Operating Expense (OPEX), less maintenance cost, scalability, and ease of use for an organization with limited IT staff and budget. The adoption of cloud deployment has risen to grow substantially over the five years, especially in SMEs, as this deployment type provides features, such as pay-per-use, scalability, and flexibility, and offers reduced installation and maintenance costs. These features are expected to increase the demand for cloud-based marketing automation for improving customers’ journeys and brand initiatives.
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The major players have implemented various growth strategies to expand their global presence and increase their market shares. Key players such as Adobe, IBM, Oracle, Salesforce, and Microsoft have majorly adopted many growth strategies, such as new product launches, acquisitions, and partnerships, to expand their product portfolios and grow further in the marketing automation market.
Adobe has consistently been acquiring companies, such as Marketo, to enhance its technological and marketing capabilities and gain a competitive advantage in the marketing automation market. The company caters to marketing automation through its Experience Cloud, which comprises Marketo Engage, Adobe Campaign, Adobe Target, Adobe Audience Manager, and Adobe Experience Manager. Its marketing automation solutions and associated core services help businesses monitor and track website visitor frequency, customer interests, and purchasing behaviors, which, in turn, enable businesses to make their online marketing strategies more efficient for generating more revenue. The company provides marketing automation solutions in the cloud. These solutions provide a greater benefit as compared to On-premises marketing automation solutions by reducing financial risks. Hence, the company’s continuous insistence on providing its superior marketing solutions in the cloud has been attracting more customers. It maintains its leadership position by providing marketing automation solutions to individuals, small businesses, and enterprises to create, publish, promote, and monitor their activities. Adobe provides a comprehensive and integrated marketing solution for different users. The company provides its products and services through its distributors, Value-Added Resellers (VARs), SIs, Independent Software Vendors (ISVs), retailers, software developers, and Original Equipment Manufacturers (OEMs), in addition to its direct sales force, online website, and app stores. The company is involved in expanding its product portfolio majorly through product upgrades and product launches.
IBM has consistently been acquiring companies to enhance its technological and marketing capabilities and gain a competitive advantage in the marketing automation market. The AI-powered Watson marketing assistant provides users with access to KPIs, open rates, tone analysis, industry benchmarks, campaign reports, trends, performance predictions, and more, through its self-learning, conversational interface. With flexible and optimized information architecture, Watson enables users to accelerate production and deployment based on AI. With Watson, it allows to create predictive models of customer behavior, with this we make more accurate predictions, we can automate the processes, and increase the user experience. The company is involved in expanding its product portfolio majorly through product upgrades and product launches.
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