According to a new market researchreport ”Digital Marketing SoftwareMarket by Component, Software (CRM Software, Email Marketing Software, andSocial Media Advertising), Service, Deployment Type, Organization Size,Industry Vertical, and Region - Global Forecast to 2022", publishedby MarketsandMarkets™, the digital marketing software market size is expectedto grow from USD 37.48 Billion in 2017 to USD 74.96 Billion by 2022, at aCompound Annual Growth Rate (CAGR) of 14.9% during the forecast period
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Technological advancements and increasing demand forinternet and social media have changed the marketing game for businesses of allsizes. The DMS market is growing, due to evolving trends, such as increasingadoption of digital media, cloud adoption, customer marketing automation,online Public Relations (PR), social media marketing, and video marketing.Surging number of mobile devices and increasing interest in social networkingare easing out the procedure of real-time engagement feedbacks, learningplatform, and easy collaboration. Hence, digital marketing vendors are comingup with collaborative social media tools for increasing commercial clienteleacross the globe. Optimization of digital experience to meet changing customerpreferences is also driving the demand for DMS solutions. MarketsandMarketsforecasts the global DMS market size to grow from USD 37.48 Billion in 2017 toUSD 74.96 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 14.9%during the forecast period.
Major vendors in the global DCM market include AdobeSystems Incorporated (US), Oracle Corporation (US), SAP SE (Germany),Salesforce.com, inc. (US), IBM Corporation (US), Marketo, Inc. (US), MicrosoftCorporation (US), HubSpot Inc. (US), SAS Institute Inc. (US), Act-On Software(US), and SimplyCast (Canada). These players have adopted various strategies,such as partnerships, collaborations, mergers and acquisitions, and new productdevelopments, to strengthen their position in the market.
Adobe Systems adopted the strategies ofpartnerships, acquisitions, expansion, and new product launches. The companyformed a partnership with Idea Cellular to offer better personalized experienceto customers. Under this partnership, Adobe systems will empower Idea Cellularby incorporating the deployment of Adobe Experience Cloud, including AdobeAnalytics Cloud, Adobe Advertising Cloud, and Adobe Marketing Cloud. This willlead Idea Cellular to map the better customer’s journey with the help of Adobetechnologies.
Oracle is also one of the leading players in the DMSmarket. The company adopted the strategies of partnerships, acquisitions, andproduct enhancements. The company has been very active in establishingpartnership with LinkedIn, WeChat, SAP, Accenture, IBM, and many others, tobring about advanced solutions in DMS to effectively cater to its globalclientele. In 2017, Oracle formed a partnership with WeChat to deliverconnected and personalized experiences in China and other countries across theglobe by seamlessly extending the powerful campaign design, delivery, andmonitoring capabilities within Oracle Eloqua to WeChat.
