Market Highlights
The need for marketing is rising, to generate leads and increase the sales of any product. This is responsible for the high rate of adoption of cloud-based marketing services that is expected to boost the marketing cloud platform market growth. Alongside, the increase in the need for analytics solutions in for operations, such as planning, budgeting, tracking project tracking, and others. It is also likely to support the growth of the marketing cloud platform market. As per MRFR study, the marketing cloud platform market is expected to expand at a high pace sand touch a lucrative valuation by 2023.
The emergence of mobile marketing cloud platform is expected to contribute significantly to the growth of the market. In addition, the extensive use of smartphones and the growing popularity of location-based marketing are likely to surge the global marketing cloud platform market. As bring your own device culture trends in the corporate, the adoption of cloud-based marketing solutions is surging in different countries, especially those exhibit rapid industrialization. Besides, the mounting complexities of IT management is demanding for advanced technologies. These are other factors that are likely to induce growth for the worldwide cloud marketing platform market.
Segmentation:
The worldwide marketing cloud platform market forecast is assessed by platform, solution, and end-user. By platform, the market is segmented into B2B Cloud, SaaS-Based, Cloud-Based, and CRM. The B2B Cloud segment is expected gain high traction for the global market. The B2B marketing cloud platform offers advertising, sales, marketing, and analytics services and solutions with greater efficacy. The sales and analytical B2B cloud solutions aid B2B marketers to get excellent outcomes from their available marketing resources and technology. By solution, the market is segmented into integrated solution and digital marketing solution. With digitalization transforming the business landscape, it is observed to benefit the marketing cloud platform market. By end-user, the market is segmented into financial services, technology, life sciences, retail, travel, and media & entertainment. The growing adoption of marketing cloud platform services in the retail and the media sectors is expected to make high profits for the market.
Key Players
MRFR listed players that are operating in the global marketing cloud platform market. They are; Oracle Corporation (U.S.), Adobe Systems Incorporated (U.S.), International Business Machines Corporation (U.S.), Salesforce.Com (U.S.), Cision Ab (Sweden), Hatchbuck (U.S.), Etrigue Corporation (U.S.), Hubspot (U.S.), Leadsquared (India), Infusionsoft (U.S.), and others. The movements and decisions taken by key players are expected to impact the marketing cloud platform market worldwide.
Regional Outlook
The ever-increasing IT sector in North America is likely to be the major cause driving the regional market growth. The increase in the adoption of advanced marketing techniques for improving business in the US is observed as another factor that is expected to surge the market growth. The US is expected to contribute majorly to the expansion of the marketing cloud platform market in North America. In addition, the presence of major cloud marketing solution providers and increase in use of smartphones are expected to impel the North America market. Other factors that are expected to induce growth are growing need for improved marketing techniques, such as social media marketing, inbound marketing, marketing automation, and content marketing via video and visual content. In Asia Pacific, the growing popularity of BYOD culture, due to the rapid expansion of corporate space is boosting the adoption of marketing cloud platform. This is expected to impel the growth of the APAC market. The expansion of the IT industry in the region is another factor that is likely to support the marketing cloud platform market expansion.
