Marketing Automation Market size is anticipated to observe prominent expansion through 2027 owing to the increasing usage of mobile phones. The rising penetration of digitalization has led to the growing need for customer retention and sales generation.
The incessant requirement for personalized content and intelligent product recommendations as well as the growing use of chatbots will further stimulate market growth. The growing demand for digital marketing technologies, such as search engine optimization (SEO) along with the increasing use of IoT devices will also fuel the industry size expansion.
In terms of deployment, the demand for cloud model marketing automation is likely to attain notable proceeds with the growing need for flexibility, security as well as client and social media management in various enterprises in order to automate the time-consuming tasks.
With respect to organization size, SMEs are expected to emerge as a lucrative revenue pocket for the marketing automation market on account of the growing adoption of internet in businesses. The reduced overall costs have also attracted multiple growth opportunities for the industry players. To state an instance, in June 2021, TechAhead, a prominent digital transformation provider, entered a partnership with Klaviyo to empower SMEs with next-gen marketing automation platforms.
While the product demand across large enterprises will grow owing to the large generation of data across the industries.
The media & entertainment industry is set to see higher marketing automation penetration with consistent developments in mobile-optimized marketing and the increasing open email rate. The surge in the number of overseas investments and the incessant need for client retention will positively influence the market growth revenue.
North America marketing automation market will gain remarkable traction from 2021 to 2027 on account of its increasing presence in social media applications. The rising preference for marketing automation technologies over conventional marketing methods is another promising factor driving the regional expansion. It has been estimated that marketers in the U.S. are likely to spend close to USD 32 billion on marketing automation software in 2021.
Meanwhile, the market share in Asia Pacific will grow owing to the expanding manufacturing sector and developments in digital advertising. The growing usage of smartphones in India and China will also add to the product demand spurt in the region.
The marketing automation market is inclusive of key participants such as GetResponse, NetResults Corporation, MarketXpander Services Private Ltd., Sendinblue, Keap, Salesforce.com, Inc., Ontraport, SAS Institute, Oracle Corporation, Act-On Software, Inc., HubSpot, Inc., SimplyCast, Adobe, and Acoustic, L.P.(Centerbridge).
These firms are focusing on extending their portfolio and boosting their global presence through inorganic marketing initiatives, including partnerships, investments, and acquisitions along with strategic launches to bring modifications in their offerings.
For instance, ActiveCampaign, in April 2021, secured $240 million in funding at a $3 billion valuation round to offer efficient sales and marketing platforms for small and medium businesses.
In another instance, in May 2021, leading marketing automation service provider, ZeroSum, introduced MARKETai, its maiden AI-driven marketing platform that offers improved marketing performance. The launch helped the company in its mission of leveraging big data for disruptive market growth.
The present COVID-19 pandemic brought absolute turmoil and severely disrupted the global economic dynamics as it laid terrific impacts on several businesses worldwide. The imposition of social distancing and lockdown policies also resulted in massive changes in terms of how brands approach marketing practices. However, the automation industry saw tremendous expansion amidst the crisis owing to increased demand from businesses across the globe in order to offer enhanced user engagement and retention while helping in instigating the automation of marketing workflows.