Originally published on Technavio: Marketing Automation Software Market by Deployment, End-user, and Geography - Forecast and Analysis 2023-2027

Marketing Automation Software Market Forecast 2023-2027:

The estimated growth of the Marketing Automation Software Market is USD 2,707.36 million between 2022 and 2027, accelerating at a CAGR of 11.98% during the forecast period. The market's expansion hinges on factors such as the increasing need for lead nurturing, a heightened demand for enhanced customer digital experiences, and the rising adoption of social, mobile, analytical, and cloud (SMAC) technologies.

Key Drivers, Trends, Challenges, and Customer Landscape 
Our researchers analyzed the data with 2022 as the base year, focusing on key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Driver 
The market is notably driven by the growing need for lead nurturing. Lead nurturing involves developing relationships with customers at every stage of the sales process. Successful lead nurturing anticipates buyer needs based on profile characteristics such as title, role, and industry, focusing on target marketing and communications. For effective lead nurturing, marketing and sales departments need collaboration on various aspects. The lead nurturing feature allows marketing companies to focus on sales, bringing in new businesses and profits.

Example: The right CRM software enables enterprises to automate nurturing strategies like email marketing, content marketing, social media marketing, and surveys. This considerable need for nurturing leads allows marketers to understand customers at a personal level, adopting strategies leading to market size growth through 2027.

Key Trends
A key trend in the market is the emergence of location-based marketing. This involves gathering information about customers' locations and using it for effective product and service marketing. Location-based marketing uses GPS technology to locate customer smartphones, delivering multimedia content to potential customers in targeted locations.

Example:Location-based marketing creates unique, personalized content for each customer, managed using content management software, enhancing customer loyalty and brand awareness. This trend is expected to significantly contribute to market growth through 2027, improving audience connections for marketers and strengthening consumer and business relationships.

Key Challenge
The major challenge impeding market growth is the high cost of marketing automation software. Integration issues with third-party systems, especially related to database compatibility, make it challenging to access customer information. Large enterprises are projected to spend more of their IT budget on application purchases, including both on-premises and cloud-based solutions. The lack of a comprehensive integration strategy leads to a costly-to-maintain heterogeneous enterprise environment, lowering the market size through 2027.

Key Market Customer Landscape
The report includes the adoption lifecycle, covering innovator’s to laggard’s stage. It focuses on adoption rates in different regions based on penetration. The report includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop growth strategies.

Global Market Customer Landscape
Companies implement strategies like alliances, partnerships, mergers, acquisitions, geographical expansion, and product/service launches to enhance their market presence.

Salesforce.com Inc. - Offers marketing automation software for Flow Orchestration, OmniStudio, and Flow RPA. The company focuses on delivering customer data across systems, apps, and devices for selling, servicing, marketing, and conducting commerce.

The report includes detailed analyses of the competitive landscape, featuring information about 15 market companies, including.

Market Analyst Overview

Qualitative and quantitative analysis of vendors helps clients understand the wider business environment, strengths, and weaknesses of key market players.

The cloud-based segment is expected to witness significant market share growth during the forecast period. It helps enterprises operate faster and more efficiently, leveraging software-as-a-service (SaaS) solutions. Cloud-based marketing automation facilitates scalability, reduced costs, and easy upgrades over traditional implementations, leading to market growth.

To Learn deeper into this report , View Sample PDF
The Marketing Automation Software Market witnesses significant investment as businesses focus on customer retention through digital marketing tools like lead management, sales automation, and campaign management. Marketing teams seek relief from tedious tasks with integrated software suites and cloud technologies. However, a shortage of skilled individuals poses challenges, particularly for smaller businesses. The market trends towards data-driven promotion, AI, and mobile-optimized marketing, with notable competition among prominent vendors like Marketo, Salesforce Pardot, and HubSpot. This industry's growth is fueled by digitization, innovation, and the demand for personalized marketing services.  
The report forecasts market growth by revenue at global, regional country levels and provides an analysis of the latest market growth and trends and growth opportunities from 2017 to 2027.

For more information please contact.

Technavio Research
Jesse Maida
Media Marketing Executive
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UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/