(I-BusinessNews.Com, April 12, 2019 ) MarketsandMarkets expects the global marketing cloud platform market size to grow from USD 8.0 billion in 2018 to USD 11.8 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 8.0% during the forecast period.
Major growth drivers for the market include the growing adoption of content marketing software for personalized marketing and customer engagement, increased use of social media for advertising, increase in smart mobile devices driving the development of the mobile marketing platform, and emergence of location-based marketing
Major vendors offering marketing cloud platform across the globe include Adobe (US), Oracle (US), Salesforce (US), IBM (US), SAP (Germany), Selligent (Belgium), Pegasystems (US), FICO (US), HubSpot (US), SAS (US), Sitecore (Denmark), Nielsen (US), Cheetah Digital (US), Hatchbuck (US), RedPoint Global (US), Optimove (US), MediaMath (US), Zeta Global (US), Sailthru (US), AgilOne (US), Maropost (US), Episerver (US), Emarsys (Austria), and Infusionsoft (US).
North America is estimated to account for the largest market size in 2018, , as the marketing cloud technology has already penetrated in the region. It constitutes developed economies: the US and Canada. The early adoption of digital marketing, presence of top players, and globalization of cloud services in North America are expected to drive the marketing cloud market in the region.
The marketing cloud platform helps companies create, manage, and execute customer engagement to drive revenue growth across industries. The platform allows organizations to create personalized and automated web-based marketing campaigns across touchpoints, such as email, social media, web, mobile, and websites.
The platform manages repetitive tasks associated with campaign follow-ups and sends one-pagers and emails at regular intervals. It also provides integrated data, builds customer profiles, makes instant content delivery and reporting, and helps collaborate with other team members. The platform has a complete set of marketing tools, such as omnichannel campaign management, content management, data management, testing and personalization, and analytics.
Mr. Shelly Singh