Global Digital Marketing Software Grows Tremendously at a CAGR of 18.3%

Introduction

Software for digital marketing is a solution for enhancing brand awareness and attracting the target audience. Digital marketing is an all-encompassing word that includes offline and online advertising outlets. Marketers are creating strategies to promote and create awareness of their products and services, with a heavy emphasis on reaching a larger audience. The rising preference for digital marketing over conventional marketing channels is anticipated to fuel the expansion of the digital marketing software sector.

The global digital marketing software sector is characterized by technological advancements that help keep up with shifting consumer needs. Due to worldwide digitization and the rising prevalence of smart devices, the industry will grow. The use of social media digital marketing solutions is driven by the increasing number of people who use social media to maintain relationships with friends and family.

Market Dynamics

Growing Internet Adoption, Prevalence of Social Media, and E-Commerce Platforms Drives the Global Market

The Internet has changed how individuals express and share information. Over half the world's population uses cell phones and installs personal and professional apps based on age, gender, and other criteria as mobile gadgets get faster and wiser. As information and communication grow more convenient and efficient, demand for digital marketing software will rise. Moving desktops to smartphones will boost the need for digital marketing tools, as more people will see online ads.

The shift from wired to wireless communication and the rise in cellular device adoption is expected to boost digital media consumption over the projection period.

Social media platforms are boosting in popularity due to high-speed Internet and cellphones. Social media networks are used for marketing since they can reach clients faster. Marketers are using social media to boost brand recognition among their target customers. Instagram, LinkedIn, and Facebook give advertisers additional ways to reach their customers and a prospective traffic source for online advertising.

E-commerce platforms that let people buy clothes, gadgets, and other items online may provide new growth potential for digital marketing software. Marketers use e-commerce platforms to build brand awareness and improve website traffic after discovering that online shopping's expanding popularity pushes enterprises to offer online purchasing of their products and services.

Rise in Innovations in Regulatory Measures, New Data Source, and Attribution Creates Tremendous Opportunities

A unified framework for advertising businesses and customers that enables data availability and control could boost confidence in digital marketing tools. Along with the IoT sensor expansion, 5G would provide additional sources of precise location data. It will open up opportunities for marketers, researchers, regulatory groups, and network providers in the social media digital marketing software sector.

The digital marketing budget is usually justified by increased foot traffic and sales. It integrates data silos to produce meaningful and relevant data results. Advertisers use location data to link online and offline sales. As an additional data point for measuring marketing efficacy, they evaluate how campaigns affect footfall at their own and competitors' locations. Given the long-term effectiveness of digital marketing software, marketers and advertisers cannot stop investing in social media digital marketing software.

Regional Analysis

North America dominates the digital marketing software market. Big brands and businesses desire a greater audience to promote their content and sell their services and products online in North America. The region's increased preference for online shopping is expected to create online advertising opportunities. Many digital marketing software companies have grown the U.S. market.

Multiple regional end-user sectors will likely increase marketing spending, boosting digital marketing software in Europe. Social media penetration is one reason. Increasing demand for data integration services, 5G network growth, and SaaS cloud usage is growing the European industry.

The Asia-Pacific digital marketing software industry is expected to grow. The region's market has positive growth potential due to the proliferation of smartphones, high population density, and the expansion of the internet. Many smartphone users in Asia-Pacific use their mobile devices to access social media. Industry companies can showcase their digital marketing software solutions in the Asia Pacific through promotional events like the Digital Marketing Summit Asia.

Key Highlights

• The global digital marketing software market was valued at USD 71.02 billion in 2021. It is expected to reach USD 256.36 billion by 2030, growing at a CAGR of 18.3% during the forecast period (2022–2030).
• Based on the solution, the global digital marketing software market is classified into CRM Software, Email Marketing, Social Media, Marketing Automation, and Campaign Management. The CRM software segment is the most dominant and is expected to grow at a CAGR of 19.9% during the forecast period.
• Based on service, the global digital marketing software market is classified into Professional Services and Managed Services. Professional service owns the highest market share and is expected to grow at a CAGR of 18.9% during the forecast period.
• Based on deployment, the global digital marketing software market is classified into Cloud And On-Premise. The cloud segment is the highest contributor to the global digital marketing software market and is expected to grow at a CAGR of 19.9% during the forecast period.
• Based on enterprise size, the global digital marketing software market is classified into Influential Organizations, Small and Medium Enterprises. The small and medium Enterprises segment is the highest contributor to the market and is expected to grow at a CAGR of 22.1% during the forecast period.
• Based on end-user, the global digital marketing software market is classified into Automotive, Banking Financial Services Insurance (BFSI), Manufacturing, and Media and Entertainment. The media and entertainment segment is the most dominant and is expected to grow at a CAGR of 22.2% during the forecast period.
• The global fingerprint sensor market is primarily classified into three regions, namely North America, Europe, Latin America, Asia-Pacific, and the Middle East and Africa. North America is the dominating global digital marketing software market shareholder and is expected to grow at a CAGR of 17.9% during the forecast period. 

Competitive Players

Competitive Players 

The global digital marketing software market’s major players are Adobe Inc., Hewlett Packard Enterprise Development LP, HubSpot, Inc., International Business Machines Corporation, Marketo, Inc., Microsoft Corporation, Oracle Corporation, Salesforce.com, Inc., SAP SE, SAS Institute, Inc.

Recent Developments

Market News

• In May 2022, Adobe Digital Price Index: Online Inflation Slowing; Consumers Pull Back on Spending.
• In May 2022, Lupin goes live with SAP S/4 HANA on HPE GreenLake to drive digital transformation.
• In May 2022, Microsoft Future Ready Industry Week highlights key trends accelerating digital transformation, enabling business models and delivery excellence in the ITES sector.
• In May 2022, Salesforce and Amazon Web Services Partner on Open-Source Technology to Help Nonprofits Accelerate Impact.
• In May 2022, Next Generation of Tableau Cloud Brings Advanced Analytics and Automated Insights to Business Users.

Segmentation

Digital Marketing Software Market: Segmentation

By Software

• CRM Software
• Email Marketing
• Social Media
• Search Marketing
• Content Management

By Service

• Professional Services
• Managed Services

By Deployment

• Cloud
• On-premise

By End-User

• Automotive
• BFSI,
• Education
• Government
• Healthcare
• Manufacturing
• Media and Entertainment

By Regions

• North America
• Europe
• Asia-Pacific
• Latin America
• The Middle East and Africa