How much will the Marketing Automation industry be worth in the Future????


The global marketing automation market size is expected to reach USD 8.42 billion by 2027, expanding at a CAGR of 9.8% from 2020 to 2027, according to a new study conducted by Grand View Research, Inc. Owing to the rising significance of automation solutions in marketing and sales to increase revenue and average deal size, target customers across multiple channels, and retain customers, the market will witness healthy growth. Moreover, the marketing automation solutions help automate repetitive, monotonous tasks such as emails, social media, and other website functions. Technological advancements, such as Artificial Intelligence (AI) and data science, the use of analytics in marketing and sales is also likely to boost the growth prospects of the market over the forecast period.
Artificial Intelligence (AI), Virtual Reality (VR), and Augmented Reality (AR) solutions are anticipated to substantially contribute while responding to the COVID-19 pandemic and address continuously evolving challenges. The existing situation owing to the outbreak of the epidemic will inspire pharmaceutical vendors and healthcare establishments to improve their R&D investments in AI, acting as a core technology for enabling various initiatives. The insurance industry is expected to confront the pressure associated with cost-efficiency. Usage of AI can help in reducing operating costs, and at the same time, can increase customer satisfaction during the renewal process, claims, and other services. VR/AR can assist in e-learning, for which the demand will surge owing to the closure of many schools and universities. Further, VR/AR can also prove to be a valuable solution in providing remote assistance as it can support in avoiding unnecessary travel. The report will account for Covid19 as a key market contributor.
A recent survey suggests that there were around 3.9 billion email users and about 3.5 billion social media users in 2020. Email marketing is still one of the primary channels of marketing, wherein the scope of automation in the segment will remain highly effective. Generally, email marketing involves sending newsletters, solicit sales, request donations, advertisements, and request businesses via emails. Automation technology in email marketing has proved beneficial and helpful in generating quality leads, and successful implementation of marketing campaigns. The rise of social media and the rapid penetration of mobile and smart devices will foster the marketing solutions and its automation over the forecast period.
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Growing demand for marketing automation solutions is likely to drive huge investments in the industry. Large technology companies are aggressively acquiring smaller tech startups and companies to gain an advantage and establish market dominance. Moreover, an industrial survey of usage of marketing automation solutions suggests that on average, 50% of companies are currently using marketing automation. More than half of B2B companies are planning to implement the automation technology for its marketing and sales purposes in the coming years. Thus, the rising demand for marketing automation among B2B companies, increasing internet penetration and subsequent digitalization of industries is likely to boost the market growth over the forecast period.
Further key findings from the report suggest:
·         The reporting and analytics segment is likely to dominate the marketing automation market in the coming years. Increasing use of artificial intelligence and machine learning to engage with customers through various channels such as messaging, voice, and IoT devices are some of the key driving factors
·         Cloud deployment was the most preferred way of deploying the software in 2020, and the segment is predicted to maintain its dominance over the next eight years. Growth in cloud computing technology and its services such as Software as a Service (SaaS), Platform as a Service (PaaS), and Infrastructure as a Service (IaaS) will foster the growth
·         The small and medium enterprises segment is anticipated to be the fastest growing segment over the forecast period. Innovation in marketing strategies, increase in productivity, and customer retention are some of the factors that are propelling SMEs to adopt marketing automation solutions
·         Discrete manufacturing is anticipated to emerge as the fastest growing segment by 2027. Integration of CRM with marketing service solutions to eliminate redundant tasks and to retain customers is likely to promote the applications of marketing automation among manufacturers
·         Asia Pacific is expected to experience the highest growth over the forecast period, attributed to the presence of emerging economies such as India and China, who possess large customer base. Moreover, increasing awareness about the marketing tools and services, growing penetration of internet, rise in number of social media platforms, and usage of smart devices is likely to promote the growth
·         Market comprises of some prominent players such as Adobe Inc.; Cognizant; Act-On Software, Inc.; HubSpot, Inc.; Oracle Corporation; Salesforce.com, Inc.; IBM Corporation; Keap; Marketo, Inc.; and Teradata Corporation; among others. Moreover, large vendors are observed acquiring other players to consolidate their market share and expand their existing portfolio

The global marketing automation market size was valued at USD 4.06 billion in 2020 and is expected to witness a CAGR of 9.8% from 2020 to 2027. Owing to digitalization of industries, rising internet penetration, and use of mobile devices, the demand for automating marketing solutions has been increasing rapidly. Increasing demand for personalized advertising, retention of users for business growth, and need for informed advertising strategy are some of the major factors expected to drive the growth. Moreover, the rise in adoption of IoT devices, increase in big data, and data analytics solutions, demand for business automation, and insights will propel the market growth.
Marketing automation is a technology that helps companies in building better customer engagement campaigns, by eliminating repetitive tasks, and helping the marketing department to focus on other critical aspects. The technology facilitates lead generation management, customer lifecycle marketing, and customer retention, among others. As per the Internet World Statistics, in 2020, global internet penetration across the world stands at 58.8% and it increases around 9% annually. Moreover, the social media usage penetration globally was around 45%. Thus, rising number of mobile devices, internet and social media penetration will propel the market in the years to come.
Consumers around the globe have changed ways of perceiving information, sharing thoughts, researching on products and services before purchase. Now, they are well-versed with the traditional tactics performed by sales and marketing departments, and have found ways to avoid them. They have become smarter with usage of technology, and rely heavily on information available on search engines, blogs, and other social media sites. Thus, providing an opportunity to companies to build a stronger relationship with consumers, by providing them a delightful experience is expected to be the edge that marketers look for.
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In the age of digitalization and use of aggressive promotion strategies, utility of Artificial Intelligence (AI), data driven promotion, and Search Engine Optimization (SEO) will provide an edge to marketing solution providers. AI will pose a potential opportunity for companies, industries and countries over the coming years, which will boost the global GDP up to 14% till 2030. Moreover, the programmatic advertising (AI automation) is changing the face of digital marketing so rapidly, that eMarketer, a marketing services provider, predicts around 86% of digital ads displayed in U.S. will be programmatic by 2020. Using various automation technologies for advertising to achieve higher conversions and lower acquisition costs will boost the market growth.
Grand View Research has segmented the global marketing automation market based on solution, deployment, enterprise size, end use:
Marketing Automation Solution Outlook (Revenue, USD Million, 2016 - 2027)
·         Campaign Management
·         Email Marketing
·         Inbound Marketing
·         Mobile Applications
·         Lead Nurturing & Lead Scoring
·         Reporting & Analytics
·         Social Media Marketing
·         Others
Marketing Automation Deployment Outlook (Revenue, USD Million, 2016 - 2027)
·         On-premise
·         Cloud
Marketing Automation Enterprise Size Outlook (Revenue, USD Million, 2016 - 2027)
·         Large Enterprises
·         Small & Medium Enterprises
Marketing Automation End-use Outlook (Revenue, USD Million, 2016 - 2027)
·         BFSI
·         Retail
·         Healthcare
·         Telecom & IT
·         Discrete Manufacturing
·         Government & Education
·         Others
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.


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