Digital Marketing Software Market by Type (Interaction Systems, Data & Analytics Systems, Content Production & Management, and Management & Administration-Oriented Apps), by Deployment Type (On-Premise and Cloud), and by Industry Vertical (Retail, Media & Entertainment, Manufacturing, High-Tech & IT, BFSI, and Others)
The growing competition has necessitated the emergence of marketing strategies from sales to satisfaction and retention of customers. Further, the growth in internet penetration and digitalization has provided the marketers with immense scope to target their customers and enhance the user experience.
Digital marketing software offers the prospect of improving the customer interaction through various sources such as instant messaging systems, social networking sites, and mobile apps. The rise in adoption of digital marketing software is attributable to the increase in digital marketing budgets in organizations, widespread social media platforms, and increased internet penetration.
Moreover, the cloud solutions have also played a prominent role owing to its benefits including minimum IT investments, cost effectiveness, and ease of accessibility.
Asia-Pacific is expected to grow at a significant pace during the forecast period. Interaction systems services segment led the market in 2016 and is expected to continue to do so in the near future.
Furthermore, the media & entertainment industry dominated the overall market and deploy the digital marketing software on a larger scale.
The key factors that drive the global market are increase in digital marketing budget and boom in social media & advertising. However, factors such as increased complexities and lack of skilled personnel hamper the market growth to a certain extent.
The report focuses on the growth prospects and restraints of the market based on the analysis of regional trends. The study provides Porter’s Five Forces analysis of the industry to understand the impact of various factors such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers on the growth of the market.
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