Digital Marketing Software Market

Global Digital Marketing Software Market Outlook (2022-2032)

The global digital marketing software market is expected to value US$ 65 Bn in 2022 which is likely to reach US$ 370 Bn by 2032. The projected growth rate is 19% from 2022 to 2032. The expansion of the market can be attributed to the increasing preference for mobile phones to gain information on the go.

Report Attributes	Details
Estimated Market Value in 2022	USD 65 Bn
Estimated Market Value in 2032	USD 370 Bn
Projected CAGE from 2022 to 2032	19%
Key Players of the Industry	Adobe Inc. Hewlett Packard Enterprise HubSpot Inc. IBM Corporation Marketo Inc. Microsoft Corporation Oracle Corporation Salesforce SAP SAS

The increasing penetration of smartphones has also enhanced the consumption of digital media and is encouraging players to advertise more online ads on digital platforms and on social media for better reachability.

Revenue Analysis of Global Digital Marketing Software Market 2015 to 2021 vs. Future Outlook 2022 to 2032

The global digital marketing software market was valued at US$ 56 Bn in 2021, expanding at a CAGR of 9% during the 2015-2021 historical period, according to Fact.MR- a market research and competitive intelligence provider. Deepening penetration of advanced technology across multiple industries is prompting enterprises to invest in digital marketing platforms to extend their demographic outreach.

During the COVID-19 pandemic, a paradigm shift in business models towards remote working led to an even broader scope for digital marketing software providers. Mandatory social distancing protocols enforced to curb spread of the novel coronavirus prompted corporations to encourage work-from-home practices, compelling them to invest in virtual marketing platforms.

The market is estimated to hold a value of US$ 370 Bn by 2032. As the reliance on remote working continues to prevail, enterprises are leveraging numerous categories of digital marketing software platforms, capable of performing multiple operations, ranging from designing marketing campaigns to conducting exhaustive market research.

Prominent Market Drivers Underpinning Digital Marketing Software Adoption

Increasing Preference for Smartphones to Boost the Market

The growing preference for smartphones to obtain information on the go is the key factor driving the market in the forecast period. The robust penetration of smartphones in the market has heightened the usage of digital media, thereby augmenting the market size. The ongoing digitization has transformed the organizations’ operations by providing the companies with an efficient tool to connect with several stakeholders in the industry through various channels and social networking.

As per a study conducted by Google, 48% of consumers start their inquiries on search engines, 33% search brand websites, and 26% search within mobile applications. The rapid proliferation of Big Data Analytics in digital marketing and the growing convenience of purchasing by eradicating location constraints are likely to offer significant opportunities for expansion during the forecast period.

In addition, the increasing adoption of remote working culture has prompted the players to focus on social media marketing. Also, benefits such as; gaining clear status of Return on Investment (RoI), spending, and initiatives that would offer a maximum number of quality leads, are other salient causes bolstering the market expansion in the forecast period.

What are the factors restraining the Global Digital Marketing Software Market?

Data Security Concerns to Hamper the Market Growth

The concerns associated with privacy protection and data security are expected to hinder the market growth during the forecast period. With the increasing number of IoT-powered digital platforms, security concerns are likely to shoot up. Phishing attacks, malware injections, the use of insecure APIs, and social engineering attacks are some of the major issues hampering market growth.

Any kind of security breach in the data repository of companies, which comprises valuable business and consumer data could cause major losses to the organizations. Such data security breaches could result in identity theft, data theft, and lead to huge losses to the company.

Country-Wise Analysis

What is the Contribution of North America in Developing the Market?

Presence of Established Key Players to Develop the Market in North America

As per the estimation at Fact.MR, the region is likely to secure about 44% of the market share in 2022. The significant contribution of the region can be attributed to the presence of established key players in the region. Furthermore, the increasing inclination towards online shopping is expected to offer various opportunities for expansion in the region.

Various companies of the U.S, such as; Cloud Native Computing Foundation and the National Cloud Technologists Association are motivating the usage of cloud computing for the deployment of several high-tech solutions like CRM, marketing automation on cloud platforms.

Why is APAC expected to be a Lucrative Market during the Forecast Period?

Active Participation of Developing Countries to Boost the Market in APAC

APAC region is anticipated to exhibit significant market growth during the forecast period. Being the most populous region of the world, it comprises half of the world’s smartphone users, experiences the highest penetration of smartphones, robust popularity of online shopping, and has the highest number of social media users.

Moreover, China, which is a globally renowned hub to manufacture cheap smartphones, is expected to make a significant contribution in driving the market in the region. In addition, events such as; Digital Marking Summit Asia, which offers market players to display their digital market solutions in the APAC region is likely to provide a significant boost to the market growth in the forthcoming period. A CAGR of 12% is forecast for the market in APAC.

Category-Wise Insights

Which Service Component is likely to lead in the Digital Marketing Software Industry?

Increasing Demand for Skilled Professionals to Expand the Service Segment

As per the analysis by Fact. MR, the professional services segment is expected to secure the largest market share of 65% in 2022. The expansion of the segment could be attributed to the increasing demand for skilled professionals who have expertise in installing, managing, and troubleshooting software is anticipated to enhance the demand for professional services. Further, professional services aid in the betterment of resource management by increasing efficiency through better planning, integrated knowledge, and increased collaboration.

On the other hand, the managed services segment is expected to record significant market growth in the forecast period. The rise of the segment can be attributed to the growing adoption of IoT-based solutions, and the increasing concern of data protection, which is boosting the demand for managed services. Also, the increasing dependence of enterprises on IT is anticipated to offer significant opportunities for expansion in the coming time.

Based on Deployment, which segment is anticipated to secure the largest revenue share?

Significant Application of Cloud based Digital Marketing Software expected

According to Fact. MR, the cloud segment is expected to secure nearly 57% of the revenue share in 2022. Cloud-based segment offers various benefits, like, arranging several aspects of digital marketing and setting up a control center to monitor.

On the other hand, the on-premise deployment is predicted to record a significant CAGR during the forecast period. The segment is likely to expand due to its significant application in sectors such as; BFSI and healthcare, thereby bolstering the market expansion.

Competitive Landscape

The key players of the global digital marketing software market adopt various strategies to enhance their influence in the industry. Acquisitions, partnerships, and collaborations are some of the methods adopted to strengthen their presence in the market. Some of the recent developments among the key players are as follows:

• In April 2021, HubSpot developed its CRM platform by launching Operations Hub. With this platform, users can unify customer data in a connected CRM platform, automate a host of time-consuming tasks, maintain a clean database with ease, and ultimately, play an active role in shaping their company’s strategy.
• Likewise, Adobe Inc. announced a partnership with FedEx to boost e-commerce innovation. The integration will give Adobe merchants access to FedEx post-purchase logistics intelligence, which will help them drive demand, reduce cost and gain customer insights.

Digital Marketing Software Report Scope

Report Attributes	Details
Forecast Period	2022-2032
Historical Data	2015-2021
Key Segments Covered	Service Solution Enterprise Size End Use Deployment Region

Key Market Segments Covered in the Global Digital Marketing Software Market

• By Service

  • Managed
  • Professional

• By Solution

  • Campaign Management
  • Content Management
  • Email Marketing
  • Search Marketing
  • Marketing Automation
  • Social Media
  • CRM Software
  • Other Solutions

• Based on Enterprise Size

  • Small & Medium Enterprises (SMEs)
  • Large Enterprises

• Based on End Use

  • Healthcare 
  • Automotive 
  • Media & Entertainment 
  • Education 
  • Government 
  • BFSI 
  • Manufacturing 
  • Other End Uses

• Based on Deployment

  • Cloud-based
  • On-premise 

• By Region

  • North America
  • MEA
  • Latin America
  • Europe
  • Asia-Pacific