According to a new market research report ”Digital Marketing Software Market by Component, Software (CRM Software, Email Marketing Software, and Social Media Advertising), Service, Deployment Type, Organization Size, Industry Vertical, and Region – Global Forecast to 2022″, published by MarketsandMarkets™, the digital marketing software market size is expected to grow from USD 37.48 Billion in 2017 to USD 74.96 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 14.9% during the forecast period
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Technological advancements and increasing demand for internet and social media have changed the marketing game for businesses of all sizes. The DMS market is growing, due to evolving trends, such as increasing adoption 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 networking are easing out the procedure of real-time engagement feedbacks, learning platform, and easy collaboration. Hence, digital marketing vendors are coming up with collaborative social media tools for increasing commercial clientele across the globe. Optimization of digital experience to meet changing customer preferences is also driving the demand for DMS solutions. MarketsandMarkets forecasts the global DMS market size to grow from USD 37.48 Billion in 2017 to USD 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 Adobe Systems Incorporated (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), and SimplyCast (Canada). These players have adopted various strategies, such as partnerships, collaborations, mergers and acquisitions, and new product developments, to strengthen their position in the market.
Adobe Systems adopted the strategies of partnerships, acquisitions, expansion, and new product launches. The company formed a partnership with Idea Cellular to offer better personalized experience to customers. Under this partnership, Adobe systems will empower Idea Cellular by incorporating the deployment of Adobe Experience Cloud, including Adobe Analytics Cloud, Adobe Advertising Cloud, and Adobe Marketing Cloud. This will lead Idea Cellular to map the better customer’s journey with the help of Adobe technologies.
Oracle is also one of the leading players in the DMS market. The company adopted the strategies of partnerships, acquisitions, and product enhancements. The company has been very active in establishing partnership with LinkedIn, WeChat, SAP, Accenture, IBM, and many others, to bring about advanced solutions in DMS to effectively cater to its global clientele. In 2017, Oracle formed a partnership with WeChat to deliver connected and personalized experiences in China and other countries across the globe by seamlessly extending the powerful campaign design, delivery, and monitoring capabilities within Oracle Eloqua to WeChat.