Marketing Automation Market Size, Share, Industry, Forecast and Outlook (2024-2031)

Marketing Automation Market Overview

Global Marketing Automation Market reached USD 5.2 billion in 2022 and is expected to reach USD 9.7 billion by 2030, growing with a CAGR of 12.6% during the forecast period 2024-2031. 

Rapid growth in the global online marketing industry helps to boost market growth of the market automation. The global marketing automation market has witnessed significant growth over the years due to an increase in product launches by major key players. For instance, on May 11, 2022, ManyChat, a leading chat marketing platform for 1.5 million businesses globally launched whatsapp chat marketing automation in the market. The new channel helps businesses to increase leads and improve leads and sales.

In 2022, Asia-Pacific is expected to grow at the fastest rate in the global marketing automation market, capturing a market share of around 1/4th of the market. A rise in product launches by major players in the region helps to boost market growth over the forecast period. For instance, on January 23, 2023, MeridianLink, Inc announced expansion of its MeridianLink Engage platform. The new advancement in the company’s marketing automation solution helps to save time in the pre-screening and deposit account opening process.

Marketing Automation Market Scope and Summary

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Marketing Automation Market Dynamics and Trends

Increasing Focus of the Companies to Optimize Marketing Spending

Marketing automation platforms enable companies to automate various marketing processes reducing the need for manual labor and saving time and resources. The cost-efficient approach resonates with businesses looking to maximize their return on investment in marketing. Marketing automation allows for highly targeted and personalized marketing campaigns. 

By segmenting audiences based on behavior, demographics and other criteria, companies can optimize their spending by delivering messages to the most relevant and engaged prospects. Major companies in the market increase their spending on marketing help to boost the market growth of the market automation market. 

For instance, on July, 18,2023, India Inc. increased 20-25% of spending on marketing in the second quarter of the 2023 due to factors like cricket World Cup. The spending on marketing has increased in sectors such as e-commerce, fast moving consumer goods, travel and hospitality and fashion.

Rapid Growth in the E-commerce 

The growth of e-commerce led to increased demand for marketing automation solutions to manage online sales, customer interactions and product recommendations. Automation tools help businesses qualify leads more effectively. By using lead scoring algorithms, they focus their efforts on leads that are more likely to convert into paying customers.

Globally rapid growth in e-commerce helps to boost market growth over the forecast period. For instance, According to the data given by the International Trade Administration, Retail consumer goods e-commerce is the most dynamic platform of marketing. It accounted 18% share of global retail sales in 2020 and it is forecasted over 1% of the annual growth rate which accounts 22% share by 2024.

Privacy and Security Concerns for Confidential Data

Rising consumer awareness and concerns related to data privacy have led to growing scrutiny of how businesses collect and use customer data. Marketers need to be transparent about data practices and obtain clear consent from customers, which can make automation more complex. Businesses must implement robust security measures to protect customer data within their marketing automation systems. 

It includes encryption, access controls, regular security audits and vulnerability assessments, which can increase operational costs. Integrating marketing automation platforms with other systems, such as customer relationship management (CRM) and e-commerce platforms, requires careful attention to data security and privacy. Misconfigured integrations can expose confidential data.

Marketing Automation Market Segment Analysis

The global marketing automation market is segmented based on deployment model organization size, application, end-user and region.

Increase in the Application of Marketing Automation for Lead Management

In 2022, lead management is expected to be the dominant segment in the global market holding around 1/3rd of the market. Marketing automation tools often include lead capture forms that can be embedded on websites, landing pages or social media. It collects valuable lead information, such as names, email addresses and phone numbers. After capturing leads, marketing automation platforms segment them based on various criteria, including behavior, demographics, source and engagement level.

According to the news published on April 05, 2023, Marketo software is used by 61,773 companies as a marketing automation platform for the growth of modern businesses. The Marketo software helps to generate more leads and witness better ROI. It is the most powerful automation marketing platform. It offers complete lead nurturing solutions.

Marketing Automation Market Geographical Penetration

Growing Adoption of Digital Marketing Channels in North America

During the forecast period, North America is expected to account for more than 1/3rd of the global market share in the global marketing automation market. Numerous well-known market players are based in the area, including Adobe, HubSpot, Marketo oracle, Salesforce and Pardot, which heightens competition in key areas including newly offered prices, target market and feature set.

The region has seen a rise in the use of marketing automation software as traditional marketing has given way to digital multichannel marketing. In January 2021, B2B product marketers in U.S. predicted that their spending on traditional advertising would decrease by 0.61% in the following year while their spending on digital marketing would increase by 14.32%, according to the CMO Survey by the American Marketing Association and Duke University.

Marketing Automation Market Companies

The major global players in the market include Hubspot, Inc., Adobe Systems Incorporated, Active Campaign, Acoustic, L.P., Klaviyo, Microsoft Corporation, Act-On Software, SAS SE, Teradata Corporation and SAP SE.

COVID-19 Impact on Marketing Automation Market

Many businesses faced financial constraints due to the economic downturn caused by the pandemic. As a result, some had to reduce their marketing budgets, impacting their ability to invest in or expand marketing automation initiatives. The cancellation of in-person events, trade shows and conferences due to social distancing measures affected event marketing plans. 

Businesses had to adjust their marketing automation strategies related to events. For businesses that rely on physical products, supply chain disruptions could have impacted their ability to fulfill orders and deliver on marketing promises, requiring adjustments in automated marketing campaigns. On the other hand, the pandemic accelerated digital transformation efforts across industries. 

Many businesses recognize the importance of investing in digital marketing and automation tools to adapt to the new normal. With more people relying on digital channels during lockdowns, personalization became even more crucial. Marketing automation allowed businesses to deliver highly personalized content and messaging to their audiences.

Russia Ukraine Impact

Geopolitical conflicts create economic uncertainty in affected regions and beyond. Businesses become cautious about their investments, including marketing automation technologies, until they have a clearer understanding of the geopolitical situation. Currency fluctuations impact the costs of marketing automation software and services, especially for businesses that operate in or trade with countries directly affected by the conflict. Exchange rate volatility affects pricing and budget considerations.

The conflict affects specific industries differently. For example, companies in industries directly impacted by sanctions or trade restrictions have to rethink their marketing strategies and automation investments. Increased geopolitical tensions lead to heightened concerns about data privacy and security. Businesses scrutinize their marketing automation platforms for vulnerabilities and compliance with data protection regulations.

Key Developments

• On June 15, 2023, Intuit Mailchimp launched more than 150 new and updated features. It includes advanced segmentation, richer reporting and analytics and more e-commerce automations. The new research from independent consulting firm finds that 88% of the marketers believe that they must increase the use of automation and AI to meet consumers expectation.
• On March 15, 2023, Intense Technologies Limited launched marketing automation and campaign management to empower marketers. A digital consumer engagement platform called UniServe reach gives companies the tools they need to plan, carry out and manage intricate marketing campaigns across a variety of media.
• On January 24, 2023, MeridianLink announced Marketing Automation Product MeridianLink Engage Platform Advancements. It helps to save the Company’s marketing automation solution, valuable time and deposit account opening process and enables customers to launch targeted marketing campaigns faster.

Why Purchase the Report?

• To visualize the global marketing automation market segmentation based on deployment model organization size, application, end-user and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development. 
• Excel data sheet with numerous data points of marketing automation market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global marketing automation market report would provide approximately 69 tables, 70 figures and 206 pages.

Target Audience 2024

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies