New York, USA, March 02, 2020 (GLOBE NEWSWIRE) -- The through-channel marketing software market is projected to generate a revenue of $4,820.5 million by 2026, growing at a CAGR of 29.4% from 2019 to 2026, reveals a new report published by Research Dive. The study provides a complete overview of the market segments, important definitions, recent trends and developments, driving factors, and other industry-centric parameters. The report discusses various segments of the market including component, deployment type, end use, industry, and region. Moreover, the report offers valuable insights for shareholders, market players, investors, and new players to form strategies and acquire a top position in the global market in the near future.
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Key drivers of the market
The through-channel marketing software offers features such as enhance customer reach which is considered as on of the top factors boosting the growth of through-channel marketing software market. However, growing concerns related to security and privacy of confidential data is considered as the major barrier for the development of the global industry. On the other hand, the growing acceptance for Artificial intelligence (AI) and Machine Learning (ML) technologies is to be bring in huge opportunities for the growth of the market.
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Software segment expected to be the fastest growing segment
By component, the report divides the market into software and services. Among these, software segment is expected to experience tremendous growth during the forecast period. Software segment market size was valued at $276.6 million in 2018 and is projected to garner $2,328.3 million by 2026. This is mainly because of the several benefits offered by the software segment. Some of these benefits include setting up modified content experiences, execution of digital marketing campaigns and calculating its outcome, managing branding activities, and tracking the channel performance.
Cloud based segment expected to dominate the market growth
By deployment type, the report bifurcates the market into on-premise and on-cloud. Among these, the cloud-based segment is projected to generate a revenue of $2,392.3 million by 2026 and grow at a growth rate of 30.3% during the estimated period. As cloud-based segment offers benefits such as enhanced accessibility, many organizations are now adopting cloud services.
Hence, this segment is anticipated to dominate the market growth during the forecast period.
North America to offer huge opportunities for the market growth
According to the report, the North American region was valued at $220.7 million in 2018 and is anticipated to generate a revenue of $1,800.1 million by 2026. On the other hand, Asia-Pacific is predicted to show tremendous growth with a CAGR of 31.1% and anticipated to garner $962.2 million by 2026. This is mainly attributed to the huge population and growing usage of internet in this region.
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Top players and Recent Developments of the industry
Some of the top players functioning in the global through-channel marketing software market are Zift Solutions, SproutLoud, Impartner PRM, Averetek, Gage Market Platform, MarketSnare, FLOW by TIE Kinetix, Ansira Edge Technology Suite, Partnermarketing.com, StructuredWeb, and others. These market players are implementing major strategies such as collaborations, mergers & acquisitions, new product developments, and geographical expansions to acquire a leading position in the global industry. For example, Impartner is going to acquire the world’s most advanced channel marketing or demand generation business from TIE Kinetix.