| Source: TBRC Business Research PVT LTD TBRC Business Research PVT LTD
LONDON, Sept. 08, 2022 (GLOBE NEWSWIRE) — According to The Business Research Company’s research report on the digital marketing software market, the growth in internet penetration is driving the growth of the digital marketing software market. Internet penetration is increasing with the rising use of smartphones and the growing influence of social networking sites. The increasing presence of social media and social advertising and growing dependence on the internet and broadband connection is responsible for driving the growth of the digital marketing software market. Companies are utilizing the growth in internet penetration for digital marketing strategies to analyze consumer behavior & preferences in real-time and market themselves. This will create a significant demand for digital marketing software as this software solution is the best tool to target audiences online.
For instance, according to the statistics from DataReportal, the internet penetration rate in the USA was around 92.0% in 2022, which increased by 2.8% reaching 8.4 million internet users between 2021 and 2022. Similarly, the internet penetration rate in the UK was around 98.0% in 2022, which increased by 0.4% reaching 300 thousand internet users between 2021 and 2022.
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The global digital marketing software market size is expected to grow from $56.77 billion in 2021 to $67.53 billion in 2022 at a compound annual growth rate (CAGR) of 18.95%. The global digital marketing software market demand is expected to grow to $141.84 billion in 2026 at a compound annual growth rate (CAGR) of 20.38%.
Technological advancement is gaining popularity in the digital marketing software industry trends. Technological advancement includes the use of artificial intelligence (AI) tools in digital marketing software which redefines customer-facing services for digital marketers by enhancing productivity and optimizing user experience. Leveraging AI to improve the customer experience can offer four significant advancements such as chatbots, predictive and targeted content, content production, and picture recognition capabilities. Each of these can enhance digital marketing while delivering more focused and relevant content to target users. For instance, in September 2020, Mailchimp, a US-based all-in-one marketing platform, launched a suite of AI-powered solutions that assist clients in designing their graphic assets and writing better email subject lines. It also assists firms in determining the best next course of action. It also offers personalized product recommendations for shoppers and forecasting tools for behavioral targeting, and other features.
Major players in the digital marketing software market are Adobe Inc, Hubspot Inc., International Business Machines Corporation, Marketo Inc., Microsoft Corporation, Oracle Corporation, Salesforce.com Inc., Act-On Software, SAS Institute Inc, SAP SE, Hewlett Packard Enterprise Company, Google LLC, Teradata Corporation, Infor Inc. and Criteo SA.
The global digital marketing software market analysis is segmented by solution into CRM software, email marketing, social media, search marketing, content management, marketing automation, campaign management, others; by services into professional services, managed services; by deployment into cloud, on-premise; by organization size into large enterprises, small and medium enterprises (SMEs); by industry into BFSI, transportation and logistics, consumer goods and retail, education, healthcare, manufacturing, media and entertainment, telecom and IT, travel and hospitality, others.
North America was the largest region in the digital marketing software market in 2021. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the global digital marketing software market insights are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Digital Marketing Software Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provide digital marketing software market overviews, digital marketing software market analyze and forecast market size and growth for the whole market, digital marketing software market segments and geographies, digital marketing software market trends, digital marketing software market drivers, digital marketing software market restraints, digital marketing software market leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The digital marketing software market size report draws on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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