Marketing automation software market growth driven by increased demand for predictive analytics
Global Marketing Automation Software Market 2014-2018 - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-04-30 08:11:01
With the advent of cloud computing technology that offers huge space for data storage, access flexibility, and scalability, the demand for marketing automation software also increasing. Cloud-based marketing automation software is increasingly being developed and continuously used by various companies for carrying out marketing and sales activities effectively. The pay-per-use model makes cloud-based marketing automation software very flexible and provides cost-effective accessibility whereby the software can be accessed at any time and in any place by multiple users. This also reduces the burden on companies for huge investment in the purchase of the software, and enables organizations to scale their marketing automation modules much more easily. Hence, the Global Marketing Automation Software market is witnessing a trend whereby many vendors in the market have begun to offer their marketing automation software through the SaaS model to expand their services and enter new markets.
The growth of the Global Marketing Automation Software market is driven by many factors. One such driver is the increasing demand for predictive analytics. The effective deployment of marketing automation software enables enterprises to gain customer insights, allowing organizations to take strategic decisions about their businesses. It also extends customer visualization leading to assured, automatic, auditable, consistent, and high-quality communication associated with marketing processes.
Further, the difficulty in the right selection of vendors is one of the major challenges confronting the market. There are a number of service providers offering products with more or less the same features, making it very difficult for enterprises to select the right vendor as per their business requirements. The vendors should provide customized products and be able to validate the benefits of their solutions and increase their flexibility to function across various departments, such as marketing, sales, and customer services.
The key players operating in the global marketing automation software market include IBM Corp., Oracle Corp., SAP AG, and SAS Institute Inc.
The global marketing automation software market is forecast to increase at a CAGR of 8.57 percent over the period 2013-2018. One of the key factors contributing to this market growth is increased demand for predictive analytics. The Global Marketing Automation Software market has also been witnessing the integration of cloud computing with marketing automation. However, the right selection of vendors could pose a challenge to the growth of this market.
Other vendors operating in the market are Market2Lead Inc., Responsys Inc., RightNow Technologies Inc. and SmartFocus.
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