Global Marketing Resource Management Market 2016-2020
About Marketing Resource Management
MRM software is a software that helps in managing marketing operations effectively based on MRM processes. The primary functions of MRM are marketing planning and budgeting, asset management, project management, and content management. These systems also help connect an organization's marketing departments. Organizations use MRM systems to understand the buying criteria of consumers and to market accordingly. The benefits of MRM software are shown in the following exhibit.
Technavio’s analysts forecast the global marketing resource management market to grow at a CAGR of 12.19% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global marketing resource management market for 2016-2020. To calculate the market size, the report discusses the major drivers that are influencing market growth, the current challenges faced by vendors and the market, and the key emerging trends that are affecting the current and future market scenarios.The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Marketing Resource Management Market 2016-2020
Technavio recognizes the following companies as the key players in the global marketing resource management market: BrandMaker, BrandSystems, IBM, Infor, Microsoft, SAP, SAS Institute, Teradata, and Workfront.
Other prominent vendors in the market are: Elateral, Adnovate, Adobe Systems, Capital ID, Censhare, Code Worldwide, Direxxis, MarcomCentral, Oracle, and Saepio.
Commenting on the report, an analyst from Technavio’s team said: “One of latest trends in the market is increasing omnichannel marketing. Omnichannel marketing is defined as the utilization of multiple channels such as mobile, desktop, telephone, and brick-and-mortar stores for marketing and sales. It provides customers with integrated and seamless shopping experience. The implementation of omnichannel marketing requires a complete understanding of all channels for brands that are trying to expand their national and global footprint. The omnichannel marketing provides an opportunity for marketing and sales companies to identify, engage, and convert their target audience, increasing revenue and attaining ROI.”
According to the report, one of the primary drivers in the market is improved regulatory compliance on digital asset licenses. IT enterprises like Microsoft, Accenture, and IBM employ a group of attorneys to deal with software license compliance. These attorneys meet up with lawyers from software vendors and come to an agreement by negotiating the penalties in case of out-of-licensing compliance. However, this process is painful and very costly, and also takes time. If the software purchased by the company is found out of compliance, then it is considered as stolen intellectual property without appropriate fees and rent. The penalties for being out of licensing compliance by software vendors can be extremely high around $30,000 - $35,000 per device or user registered to use that specific application.
Further, the report states that one major challenge in the market is increases risks related to data security and privacy. Cloud-based MRM software can make corporate asset information available to the public or others. Cloud storage is a convenient and cost-effective way to store organizational data. However, organizations tend to transfer their information or data to the cloud only if they trust cloud service providers. After transferring data to the cloud, the organizations lose control over it and become dependent on the cloud computing service providers. The risk of information leakage is high, which could result in the misuse or manipulation of data. There will be a lack of transparency for users on when, how, where, and why their data is processed. These issues can lead to a number of legal and security concerns related to organization infrastructure, access control, identity management, risk management, auditing and logging, and regulatory and legislative compliance. Therefore, increasing concerns related to data security are compelling many organizations to delay the adoption of cloud-based MRM software.
BrandMaker, BrandSystems, IBM, Infor, Microsoft, SAP, SAS Institute, Teradata, Workfront, Elateral, Adnovate, Adobe Systems, Capital ID, Censhare, Code Worldwide, Direxxis, MarcomCentral, Oracle, Saepio.
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