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 Services 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:
The prominent marketing cloud platform market key players are:
- Oracle Corporation (U.S.)
- Adobe Systems Incorporated (U.S.)
- Leadsquared (India)
- Salesforce.Com (U.S.)
- Hubspot (U.S.)
- International Business Machines Corporation (U.S.)
- Infusionsoft (U.S.)
- Cision Ab (Sweden)
- Hatchbuck (U.S.)
- Etrigue Corporation (U.S.)
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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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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