Digital marketing software helps organizations manage their digital marketing campaigns through social media, websites, mobile apps and other digital platforms. Features include social media marketing, email marketing, web analytics and search engine optimization. The growing digital presence of businesses has increased the need for such software to devise and implement omnichannel marketing strategies.
The global Digital Marketing Software Market is estimated to be valued at US$ 80.23 Mn in 2023 and is expected to exhibit a CAGR of 5.9% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the major trends driving the digital marketing software market is the rising adoption of Robotic Process Automation (RPA). RPA helps automate repetitive and routine tasks involved in digital marketing like updating website content, social media posts, analytics tracking etc. This allows marketers to focus more on strategic tasks. RPA has significantly improved marketing workflow and boosted efficiency. Various digital marketing software players are integrating RPA capabilities to offer better automation and help businesses scale up their digital efforts. The growing RPA adoption is expected to continue propelling the digital marketing software market during the forecast period.
SWOT Analysis
Strength: Digital marketing software allows businesses to easily manage their digital campaigns and track campaign performance across different channels like websites, emails, social media etc. in one place. This provides improved visibility.
Weakness: Constant changes in consumer behavior and evolving marketing technologies require businesses to continuously upgrade their digital marketing software to keep it relevant. This results in additional costs.
Opportunity: Growing adoption of technologies like artificial intelligence, machine learning, analytics is creating new opportunities for digital marketing software vendors to offer enhanced capabilities like predictive analysis, personalized experiences etc. This helps businesses improve ROI from digital marketing campaigns.
Threats: Increased competition from growing number of digital marketing software vendors increases pricing pressures. Customers also have more options to choose from which threatens customer retention.
Key Takeaways
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$ 80.23 Mn in 2023 and is expected to exhibit a CAGR of 5.9% over the forecast period 2024 to 2031.
The North America region currently dominates the global digital marketing software market owing to high adoption of emerging technologies across industries. The Asia Pacific region is expected to offer lucrative growth opportunities during the forecast period supported by growing digitization, increasing internet penetration and rising investments of international companies in the region.
Key players operating in the digital marketing software market are Alucol, HPL Stampings Inc., Kikukawa Kogyo Co., Ltd., Nihon Anodizing Co., Ltd, Pailian Aluminium, Prototech Asia, Saporito Finishing Co., Techmetals Inc., Tiodize, Inc., United Anodisers Limited, and Xometry Europe GmbH. Some key players are focusing on strategic collaborations to expand their product offerings and customer base. For instance, in 2023, Alucol partnered with Anthropic to launch an AI virtual assistant solution to help businesses automate digital marketing tasks.
Digital marketing software helps businesses streamline and optimize their marketing campaigns. Features like analytics, dashboard views, campaign automation etc. allow granular tracking and measurement of campaign performance. Integrations with CRM and social media platforms provide a centralized hub for digital marketing operations. This is expected to drive continued demand during the forecast period.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it