Digital marketing software helps businesses promote their products and services online through social media platforms, search engines, and email marketing. It provides features like social media management, search engine optimization, email marketing, analytics and more.
The global Digital Marketing Software Market is estimated to be valued at US$45.7 billion in 2023 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing popularity of digital marketing among businesses is driving the growth of the digital marketing software market. More companies are recognizing the importance of establishing an online presence and engaging with customers through digital platforms. Digital marketing offers higher returns on investment and allows reaching a large target audience. As the scope of digital continues to expand, businesses are increasingly leveraging software tools to automate and optimize their marketing campaigns, thereby fueling demand.
Strength: Digital marketing software simplifies marketing tasks and allows precise tracking of campaign performance. It integrates various digital marketing channels and gives insight about customer behavior.
Weakness: Implementation of digital marketing software requires technical expertise and time for customization. Organizations with less budget and resources find it difficult.
Opportunity: Growing popularity of digital marketing and social media increases the demand for such software. It helps marketers leverage new technologies and reach customers effectively.
Threats: Entry of new players leads to more competition. Changes in algorithms by search engines and social media platforms impact campaign effectiveness.
Global Digital Marketing Software Market Size is expected to witness high growth. The global Digital Marketing Software Market is estimated to be valued at US$45.7 billion in 2023 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023 to 2030.
North America dominates the market currently due to presence of major players and adoption of digital technologies by companies to enhance customer experience. Asia Pacific is expected to grow at the fastest rate owing to increasing investments in digital marketing and rapidly expanding e-commerce industry in countries like China and India.
Key players operating in the digital marketing software market are Adobe, Oracle, SAP, Salesforce, IBM, Marketo, Microsoft, Hubspot, SAS, Act-On Software. These companies are focusing on new product launches and partnerships to strengthen their market position and gain higher shares.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it