Marketing automation to reach US$7.3B by 2025
The marketing automation marketing is becoming hugely lucrative.
According to Grand View Research report, the global industry will be worth US$7.63 billion by 2025.
Firms looking to become more efficient by automating laborious tasks will spur this growth, said the report titled "Marketing Automation Software Market Analysis By Solution (Campaign Management, Email Marketing, Inbound Marketing, Mobile Applications, Lead Management, Reporting & Analytics, Social Media Marketing), And Segment Forecasts, 2014 – 2025".
These include emails, social media, and other website functions.
Marketing automation software offers marketing teams the ability to save time, costs and efforts while building quality leads and driving marketing campaigns.
Not surprisingly email marketing segment was the largest in 2015.
It accounted for 30% of the total market share during the year.
Clouds were the favorite platform for provisioning these software solutions.
According to the report, cloud deployment was the most preferred way for deploying the technology in 2015.
The segment is predicted to maintain its dominance over the next nine years.
Meanwhile, the Asia-Pacific region is expected to experience the highest growth over the forecast period.
The report noted that India and China would lead this growth as they "possess a large customer base."
The region is expected to grow at a CAGR of 13.5% from 2016 to 2025.
The prominent players in the market are Act-On Software, Inc., Adobe Systems, Inc., HubSpot, Inc., IBM Corporation, Salesforce.com, Inc., and Oracle, among others, the report added.
M&A activity in this space is slated to reach feverish levels.
A large number of vendors are acquiring other players to consolidate their market share and expand their existing portfolio, said the report.