Marketing Cloud Platform Market Global Trends, Market Share, Industry Size, GrowPosted by diwanji a on September 21st, 2019 Global marketing cloud platform market is projected to value over US$ 11 billion by the end of 2026 and grow at a CAGR of over 8% during the forecast period of 2019-2026.
Cloud marketing is a marketing method that organisations employ to advertise their products and services on the web through digital platforms with available specializations for every user.
The marketing cloud platform is used to bring in more traffic and increase the consumer base. Promotional emails, text messages and online advertisements also constitute a part of this marketing. Furthermore, it also aims at improving the customer experience in marketing, sales, and service. Organizations can use all of their data from all sources using this technology. Sales cloud and service cloud data, web analytics, are for online sources while offline data can be used to expand their view of the customer. The platform intends to help users drive and manage the sales, marketing and customer support aspects of the business. With the marketing cloud platform, organisations can centralize, systemize and manage key customer, sales and prime data.
The popularity of using a content marketing software for customised and distinct marketing and consumer involvement is fueling demand for global marketing cloud platform market. The increased importance and usage of social media advertising is promoting the global marketing cloud platform market. Additionally, the outreach of technology has been extensive which has promoted virtual devices, especially mobile phones. Thus advertising through these mediums will also add to the growth of this platform. The adoption of this service by the small and medium enterprises (SME’s) will further direct the growth trajectory of this market in a favourable way.
Recent developments are, in 2018, Adobe acquired Magento Commerce, one of the key commerce platforms. The acquisition was aimed to add Magneto Commerce Cloud to Adobe Experience Cloud for delivering a single, end-to-end digital experience platform, including content creation, marketing, advertising, analytics, and commerce for B2B and B2C customers. In the same year, Oracle launched a placement solution, named Pre-Bid by Moat, for marketers to identify and utilize ad inventory that meets their high standards for third-party viewability and Invalid Traffic (IVT). These new capabilities will join the existing brand safety segments that are available on the Oracle Data Cloud and create a suite of media spend protection offerings. Alongside Salesforce launched Sales Cloud Einstein Forecasting to provide sales forecasts on its CRM platform.
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Marketing Cloud Platform Market Segmentation: By Type + Platform + Services The platform type segment is predicted to hold a major market size during the forecast period. Compared to services, the platform segment has higher potential and provides more opportunities for the companies to gain benefit from.
By Platform + Software-As-A-Service Marketing Cloud Platform + Business-To-Business Marketing Cloud Platform + Customer Relationship Management Marketing Cloud Platform
By Marketing Function + Communications + Branding + Advertising + Designing + Customer Support + Sales Channel The advertising segment is estimated to hold the largest market size during the forecast period. With the growth of social media and increased consumer awareness, advertising plays a big role in the consumer’s decision making about his choice of product.
By Deployment Type + Private Cloud + Public Cloud The public cloud is predicted to grow at a higher CAGR during the forecast period. Accessibility and quick functioning are the major reasons for the high adoption of the public cloud among marketing cloud platform providers. The public cloud offers various reliability and flexibility, and thus is preferred.
By Vertical + Banking, Financial Services, and Insurance + IT and Telecom + Travel and Hospitality + Retail and E-commerce + Media, Entertainment, and Gaming + Healthcare and Life Sciences + Education + Others The advertising segment is estimated to grow at the highest CAGR during the forecast period. The retail and eCommerce vertical is progressing towards customer-centric services. It is expected to be the fastest-growing verticals, due to the consumers’ rising purchasing power.
North America is projected to hold the largest market size during the forecast period. The region has numerous multinational companies which largely contribute to the growth of the market. Substantial investment in digital marketing initiatives and improving customer experience. However, Asia Pacific (APAC) is expected to provide lucrative opportunities for marketing cloud platform providers due to the increasing adoption of innovative technologies.
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Competitive Landscape: + Tier 1 players- established companies in the market with a major market share + Tier 2 players + Emerging players which are growing rapidly + New Entrants Major firms in the market are Adobe (US), Oracle (US), Salesforce (US), IBM (US), SAP (Germany), Selligent (Belgium), Pegasystems (US).
FutureWise Takeaways + Growth prospects + SWOT analysis + Key trends + Key data points affecting market growth
Objectives of the Study: + To provide an exhaustive analysis on the Global Marketing Cloud Platform Market by Type, by Platform, by Function, by Deployment Mode, by Vertical and by Region + To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints) + To evaluate and forecast micro-markets and the overall market + To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America, and the Middle East. + To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions + Profiling of companies to evaluate their market shares, strategies, financials and core competencies
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