LONDON, Oct. 02, 2023 (GLOBE NEWSWIRE) -- According to the latest Marketing Automation Global Market Report 2023 from The Business Research Company, the market has witnessed significant expansion, with the global marketing automation market size increasing from $5.79 billion in 2022 to $6.5 billion in 2023, marking a remarkable Compound Annual Growth Rate (CAGR) of 12.3%. This growth trend is projected to continue, propelling the marketing automation market to an estimated $9.5 billion by 2027, with a projected CAGR of 9.9%.
Rise in Big Data and Data Analytics Drives Market Growth
One of the primary drivers behind the marketing automation market growth is the surge in big data and data analytics solutions. These tools have become indispensable for marketing automation companies, as they enable deep insights into customer behavior and preferences.
For instance, Tech Jury, a US-based software and tech review company, predicts that by 2023, the big data analytics market will reach an astounding $103 billion. Furthermore, data growth statistics indicate that data creation is set to exceed 180 zettabytes by 2025.
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Marketing Automation Companies Market Share and Major Trend
Leading players in the marketing automation market include SAP SE, Salesforce.com Inc., Oracle Corporation, Adobe Inc., Teradata Corporation, HubSpot Inc., SAS Institute Inc., IBM Corporation, Cognizant, Act-On Software Inc., Marketo, Ontraport, Sendinblue, Autopilot, Prospect.io, ActiveCampaign, eTrigue Corporation, Greenrope, Insidesales.com Inc., Infusionsoft, and SharpSpring Inc.
A key trend in the marketing automation market is the adoption of personalized content. In today's digital landscape, customers expect companies to tailor products and services to their preferences and choices. Marketing automation software leverages data to identify purchasing patterns and make decisions with minimal human intervention. It automatically recommends products and services based on customer profiles and online behavior, enhancing customer engagement and satisfaction.
For example, in September 2021, LionAI, a US-based artificial intelligence (AI) ad-tech analyzer, launched a unique ad-tech and marketing automation platform for higher education marketing leaders. This platform utilizes paid media and programmatic techniques to significantly increase brand awareness and student enrollment. LionAI's ad-tech enables clients to boost their digital marketing yield by 20% or more in just 30–60 days, all while eliminating wasted ad spending and delivering an exceptional experience to potential students.
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Regional Insights
In 2022, North America emerged as the largest marketing automation industry market share. Additionally, Asia-Pacific is expected to experience the fastest growth in the forecast period. The regions covered in the marketing automation market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Market Segmentation
The global marketing automation market is segmented into several key categories:
- By Component: Software, Services
- By Deployment: On-Premises, Cloud
- By Organization Size: Small and Medium-Sized Enterprises, Large Enterprises
- By Application: Digital Marketing, E-Mail Marketing, Mobile Marketing, Inbound Marketing, Social Media Marketing, Campaign Management, Other Applications
- By End-Use: BFSI, Retail, Healthcare, Telecom And IT, Discrete Manufacturing, Government And Education, Other End-Users
Marketing Automation Global Market Report 2023 by The Business Research Company provides insights on the marketing automation market size, marketing automation market segments, marketing automation market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
The Business Research Company has published over 6,500+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
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