Europe Marketing Automation Software Market - Segmented By Accessibility (On-Premise, Cloud), Vertical (Manufacturing, Retail, Financial Services), Applications And Geography - Growth, Trends, And Forecasts (2018 - 2023)
The European marketing automation software market was estimated to be worth USD 1.081 billion in 2017, and is expected to reach USD 1.917 billion by 2023, registering a CAGR of 10.02% during the forecast period of 2018-2023.
Marketing automation software handle multiple marketing tasks and automate the processes, to eliminate the need for human interference. The growing adoption of SaaS, coupled with usage of cloud services by European small and medium enterprises, is driving the market’s growth. The software assists firms in streamlining development, executing and tracking of campaigns, so that managers can automate workflows, manage collateral, track prospect behavior, and qualify leads before they are passed on to sales. The majority of the European B2B marketers, who are currently using the marketing automated platforms, have reported that they are not using these tools to their full potential. The vendors are trying to combine their software platform offerings with marketing services, to offer tailor-made services. This is encouraging the concept of Marketing as a Service (MaaS) among the regions business circles. The growing marketplace and increasing number of marketing channels are enabling companies to explore new markets, by increasing the reach of businesses. This is driving the growth in marketing and pushing companies to deploy automation to streamline the process
Growth in Marketplace and Marketing Channels to Drive the Market’s Growth
The online market has transformed and advertisers now expect real value for their digital media, rather than the traditional model. Social networking and other social media channels are currently mainstream. Advertisement expenditure across the world reached more than USD 18 billion in 2015, a 42% increase from 2014, which bolstered the share of social media network in the market. Social media network in the European region is poised to witness decent growth during the forecast period. By 2020, internet advertising is expected to overtake TV commercials as the largest advertising segment. With increasing customer interactions, marketing automation is the primary focus in businesses. Companies are now looking forward to capture new customers, by targeted marketing and utilizing advanced AI tools. Thus, the growing market place and increasing number of marketing channels are driving the growth of this market.
E-mail Marketing to Witness Robust Growth over the Forecast Period
Generally, e-mail marking involves sending advertisements, newsletters, solicit sales, request donations, and requesting businesses via e-mails. E-mail marketing helps businesses build loyalty, brand awareness, and trust, by constant interaction with consumers. E-mail marketing has witnessed an increase in deployment, over the last decade. With companies going digital and many industries employing internet in the early 2000`s, the dependence on e-mail marketing has growth drastically over the last few years. E-mail marketing has registered a radical growth during the last few years. With the advent of E-commerce and smart phones, the number of users utilizing e-mail services has grown during the last decade. This has improved the reach of e-mail marketing in these regions. With vast amounts of user data available, companies are focusing on automating the database, to streamline the process and explore new ways of e-mail marketing. This has provided an opportunity for companies to explore automated e-mail marketing
Key Developments in the Market