The global marketing cloud platform is growing continually. These
platforms are extensively used as block building to develop audiences, content,
journey, personalization builder, and analytics. Organizations use journey
builders across email, mobile, social, advertising, and web. As a result, the
marketing cloud platform garners huge prominence across the world. Besides, the
rising demand for marketing cloud platform from increasing numbers of
enterprises worldwide escalates the market sales.
According to Market Research Future
(MRFR), the global marketing
cloud platform market is poised to garner exponential accruals by 2023,
growing at an impressive CAGR during the review period (2017 to 2023). Also,
the befits that cloud platforms offer, such as seamless customer experience
across marketing, sales, and service, influence the growth of the market,
increasing their uptake. CRM platforms offer integrated functions with
real-time updates and data, which, in turn, boosts the uptake of marketing
cloud platforms.
Additionally, increasing demand for
centralized, organized, and key customer management, sales, and prime data
managing solutions positively impact market growth. Furthermore, the rising
proliferation of customer management platform, cloud-based platform,
software-as-a-service (SaaS-based platform), and b2b cloud platform push the
market growth. Increasing requirements of marketing platforms to improve
content circulation accelerates the development of the market.
Also, increasing usages of machine
learning, deep learning, and natural language processing escalate the growth of
the market. The preference of the target audience increases the size of the
market, helping in brand building substantiate the development of the market.
The growing demand for customer-driven marketing and advertisement fuels market
growth. The latest trends, such as social media image recognition, individual
personalization, and conversational marketing, influence market growth.
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Marketing Cloud Platform Market - Segments
The report is segmented into four
dynamics:
By Platform :
Cloud-based, SaaS-based, CRM, and B2B Cloud.
By Solution :
Integrated Solutions and Digital Marketing Solutions.
By End-User :
Travel, Retail, Financial Services, Life Sciences, Technology, Media &
Entertainment, and others.
By Regions :
Asia Pacific, Americas, Europe, and the Rest-of-the-World.
Marketing Cloud Platform Market - Regional Analysis
North America dominates the global
marketing cloud platform market. The largest market share attributes to the
presence of major platform providers and advances in technologies in the
region. Besides, substantial investments by large and small organizations in
cloud marketing platform to enhance their business drive the growth of the
regional market. The penetration of the Internet and smartphones substantiate
the growth of the regional market.
Moreover, the vast availability of
improved marketing techniques, such as inbound marketing, social media
marketing, marketing automation, content marketing through visual & video
content, and the increasing number of cellphones influence the regional market
growth. Also, the rapidly increasing advertisement sectors and cutting-edge
advertising techniques substantiate the growth of the regional market. The
North American marketing cloud platform market is projected to retain its
dominance throughout the forecast period.
Europe stands second in the global
marketing cloud platform market. The market growth attributes to the presence
of various notable players and large deployments of cloud platforms in marketing.
Additionally, the rising numbers of medium and large enterprises with sizable
investments act as significant tailwinds for the market growth in the region.
Furthermore, the high adoption of cloud
technologies in marketing solutions used across the growing number of agencies
and retailers pushes the regional market growth. The European marketing cloud
platform market is predicted to create a substantial revenue pocket during the
assessment period.
Asia Pacific marketing cloud platform
market is growing rapidly. Factors such as the increasing adoption of social
media platforms and additional platforms for advertisement in the region drive
the growth of the regional market. The rising adoption of AI technology and
cloud deployments by large and SMEs to enhance customer satisfaction and
operational performance boost the development of the regional market. The APAC
marketing cloud platform market is expected to grow at a significant rate
during the forecast period.
Marketing Cloud Platform Market - Competitive
Analysis
Highly competitive, the marketing cloud
platform market appears fragmented due to the presence of several
well-established players. Mergers & acquisitions, innovation, and brand
reinforcement remain prevailing key trends for the leading players as these
strategies support their growth and expansion plans. They deliver reliable,
leading-edge products and services. For which they invest substantially in
R&D to develop adept technologies and products.
Major Players:
Players leading the marketing cloud
platform market include Oracle Corporation (U.S.), Adobe Systems Incorporated
(U.S.), Salesforce.Com (U.S.), Cision AB (Sweden), International Business
Machines Corporation (U.S.), Etrigue Corporation (U.S.), Hubspot (U.S.),
Hatchbuck (U.S.), Infusionsoft (U.S.), and Leadsquared (India), among others.
Industry/Innovation/Related News:
August 20, 2020 ---- Mirum
(India), a global digital agency, announced that it has been appointed by
Simpliv, a global learning marketplace, to implement salesforce marketing cloud
services for the company. Mirum is a salesforce gold consulting partner with
great experience in implementing marketing automation solutions in the EdTech
space. Through this association, Mirum India would also be training the Simpliv
team on managing Salesforce Marketing Cloud.
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Ref:
Marketing Cloud Platform Market Research Report: Information by Technology (Hall
Effect, Magneto Resistive, Variable Reluctance), By Application (Automotive,
Industrial, Aerospace & Defense, Consumer Electronics) and Region (North
America, Europe, Asia-Pacific, Middle East & Africa, and South
America)—Forecast till 2030
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