According to a new market research report ”Digital Marketing Software Market byComponent, Software (CRM Software, Email Marketing Software, and Social MediaAdvertising), Service, Deployment Type, Organization Size, Industry Vertical,and Region - Global Forecast to 2022", published byMarketsandMarkets™, the digital marketing software market size is expected togrow from USD 37.48 Billion in 2017 to USD 74.96 Billion by 2022, at a CompoundAnnual Growth Rate (CAGR) of 14.9% during the forecast period
Growing social media and popularity of mobile advertisingwith increasing number of mobile devices are main drives of the market.Moreover, the growing adoption of digital marketing software by Small andMedium-sized Enterprises (SMEs) is expected to drive the market during theforecast period.
Browse 79 Market Data Tables and 38 Figures spreadthrough 143 Pages and in-depth TOC on "Digital Marketing Software Market by Component, Software (CRM Software, EmailMarketing Software, and Social Media Advertising), Service, Deployment Type,Organization Size, Industry Vertical, and Region - Global Forecast to2022"
Major Key Vendors:
Major vendors in the DMS market include Adobe SystemsIncorporated (US), Oracle Corporation (US), SAP SE (Germany), Salesforce.com,inc. (US), IBM Corporation (US), Marketo, Inc. (US), Microsoft Corporation(US), HubSpot Inc. (US), SAS Institute Inc. (US), Act-On Software (US), andSimplyCast (Canada).
Social media advertising software is expected to be thefastest growing software in this market. Social media advertising is a bigplatform and has been booming since the inception of social and professionalnetworking media, such as Facebook, Instagram, YouTube, Skype, Google+,Twitter, and LinkedIn. They have introduced newer ways of connecting to theconsumers. Building strong brand image among varied target groups of customersby utilizing digital content is a major factor that is aiding the growth ofsocial media advertising software.
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The consumer goods and retail vertical is expected to be thefastest growing vertical in terms of adoption of DMS solutions and servicesduring the forecast period. The consumer goods and retail vertical consists ofcompanies that generate and commercialize goods and services to meet the uniquerequirements of catalogers, retailers, direct marketers, and manufacturers. Theconsumer goods and retail vertical is expected to provide growth opportunitiesfor DMS vendors, as the vertical needs effective solutions to build long-termrelationship with customers, engaging more number of customers, making decisionsbased on feedback from every customer, and for expanding demographic reach.
Cloud-based deployment of DMS solutions is preferred by mostof the organizations and is expected to be the fastest growing deployment modelduring the forecast period. The cloud-based deployment model permits users toaccess the software from anywhere on any type of devices, such as personalcomputers, laptops, smartphones, and tablets. The cloud adoption offers easydeployment, minimum cost, easy upgradeability, accessibility, and norequirement of initial capital outlay for purchasing the software. Thecloud-based deployment model offers higher agility than the on-premisesdeployment model. As a result, many verticals, such as Banking, FinancialServices, and Insurance (BFSI), healthcare and life sciences, government,Information Technology (IT) and telecom, consumer goods and retail, energy andutilities, transportation and logistics, and manufacturing are increasinglyadopting cloud-based DMS solutions.
The Small and Medium-sized Enterprises (SME) segment isexpected to grow at a higher CAGR during 2017–2022. The DMS solution allowssmall enterprises to expand their reach among customers at a low cost, improvesconversion rates, and helps to generate higher ROI from digital campaigns. Theability of DMS solutions to create brand recognition, and fast interactionbetween a customer and an enterprise can significantly enhance an enterprise’sability to record the revenue growth.
Asia Pacific (APAC) is expected to be the fastest growingregion in the DMS market. The high growth rate in APAC is attributed to theincreasing technological adoption in India and China. Furthermore, in APAC,organizations have started believing that digital marketing can provide acompetitive edge over others, can offer better communications between customerand company, and can help to create a strong brand image leading them totransform legacy marketing strategies to digital marketing.
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