Global Marketing Resource Management Market (2021-2027) by Component, Type, Organization Size, Deployment, Vertical and Geography, IGR Competitive Analysis, Impact of Covid-19, Ansoff Analysis
The Global Marketing Resource Management Market is estimated to be USD 3.6 Bn in 2021 and is expected to reach USD 7.14 Bn by 2027, growing at a CAGR of 12.1%.
Key factors contributing to the growth of the market are a rising number of marketing channels. This has led to a need to integrate these channels to manage the business enterprise's complex marketing activities. Amidst rapid digitalization, there is an enhanced need for providing a good digital experience to the customer. Therefore the marketers are increasing their efforts by utilizing an MRM suite to ensure a positive response from the customer. Also, an increased need for ensuring brand and regulatory compliance has further demanded the need for MRM solutions thus propelling the growth of the market over the forecast period.
The initial costs of implementation and risks associated with data security amidst rising data thefts can hamper the market growth.
- The Rising Number of Marketing Channels
- The Growing Need for Improvement in Market Response and Digital Customer Experience
- Improved Regulatory Compliance on Digital Asset Licenses
- Surging Demand for Marketing Integration with Different Systems
- High Deployment Costs
- Increasing Risks Related to Data Security And Privacy
- Increasing Preferences towards Software-As-A-Service (Saas)-Based Solutions
- Integration of MRM With Artificial Intelligence (AI) and Big Data Tools for Data-Driven Marketing
- Lack of Comprehensive Integration Strategy and Interoperability Issues
- The dilemma of Choosing The Right and Comprehensive Platform
By Component, the Solutions segment holds the highest market share during the forecast period. It is mainly because the solutions are capable of addressing various business issues; from marketing budgets to driving online sales. Therefore, their deployment leads to effective resource optimization and can also ensure positive customer satisfaction yielding better ROI on marketing efforts.
By Type, the Marketing Analytics holds the highest market share during the forecast period. The reasons underlying the growth of this segment are the rising digitalization and its resultant requirements by the marketers to focus on digital marketing efforts. The advancements in technology and the integration of machine learning and embedded AI technological tools have effectively predicted buyer behaviour. Thus the deployment of MRM solution with a focus on analytics can help in effective marketing campaigns and thus positive ROI. Also, an increased number of vendors such as Oracle, Microsoft, etc., are offering MRM solutions with analytics across digital, social, and traditional channels, thus adding to the segmental growth.
By Organization Size, the Large Enterprises hold the highest market share during the forecast period. It is mainly due to the high sanctioned financial budgets in large enterprises as compared to the SMEs. The marketing resource management solutions are required for the integration of advanced technologies such as AI-led solutions or real-time digital experiences to the vast product portfolios and complex workflows in such enterprises. Further, these systems can enhance content collaboration, thus yielding high ROI. This has further resulted in higher segmental growth.
By Deployment, the Cloud-Based segment holds the highest market share during the forecast period. The major growth factors are the advancements in technology, resulting in the growth and increasing acceptance of cloud-based solutions. The cloud-based deployment for MRM has been increasing due to the reduced operational and implementation costs. In addition to this, many MRM vendors such as Aprimo, Oracle, Workfront, and HCL are focussing on providing a cloud portfolio to the business enterprises due to the higher demand for these solutions. This has led to the growth in this segment.
By Vertical, the Consumer Goods And Retail segment holds the highest market share. Amidst the rising market competition and dynamic consumer behaviour patterns, an effective marketing strategy can target the right set of customers for marketing activities. An effective MRM suite can therefore be helpful to optimize marketing budgets and enhance effective collaboration across diverse marketing channels. This can support in enhancing the visibility of the digital footprint for an organization.
By Geography, North America is anticipated to lead the market during the forecast period. The factors attributed to the growth of the market is the availability of advanced technology for streamlining workflows and the presence of a large number of market resource vendors. Besides, the region has a high demand for marketing campaigns to promote the key player's business activities.
The Global Marketing Resource Management Market is segmented further based on Component, Type, Organization Size, Deployment, Vertical and Geography.Global Marketing Resource Management Market, By Component
Global Marketing Resource Management Market, By Type
- Planning And Budgeting Management
- Asset Management
- Channel Marketing Management
- Performance Management
- Consulting And Implementation
- Training, Support, And Maintenance
Global Marketing Resource Management Market, By Organization Size
- Financial Management
- Project Management
- Marketing Analytics
- Marketing Asset Management
- Capacity Planning Management
- Brand and Advertising Management
Global Marketing Resource Management Market, By Deployment
- Large Enterprises
- Small and Medium-Sized Enterprises
Global Marketing Resource Management Market, By Vertical
- Cloud –Based
Global Marketing Resource Management Market, By Geography
- Banking, Financial Services, and Insurance (BFSI)
- Consumer Goods and Retail
- Information Technology (IT) and ITeS (Information Technology Enabled Services)
- Healthcare and Life Sciences
- Media and Entertainment
- Travel and Hospitality
- Energy and Utilities
- Others (Mining and Construction)
- North America
- South America
- Asia Pacific
- Rest of the World
Some of the companies covered in this report are Adobe Systems, Inc., Oracle Corporation, SAS Institute, Inc., Teradata Corporation, Microsoft Corporation, IBM Corporation, Bynder, SAP SE, BrandMaker GmbH, Saepio, Workfront, Inc., North Plains Systems Corporation, etc.IGR Competitive Quadrant
The report includes IGR Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.Why buy this report?
The report offers a comprehensive evaluation of the Global Marketing Resource Management Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
The report includes in-depth market analysis using Porter’s 5 force model and the Ansoff Matrix. The impact of Covid-19 on the market is also featured in the report.
The report also contains the competitive analysis using IGR Positioning Quadrants, Infogence’s Proprietary competitive positioning tool.Report Highlights:
- A complete analysis of the market including parent industry
- Important market dynamics and trends
- Market segmentation
- Historical, current, and projected size of the market based on value and volume
- Market shares and strategies of key players
- Recommendations to companies for strengthening their foothold in the market