Global digital marketing software industry to hit $74.96bn by 2022
The global digital marketing software (DMS) market is forecast to grow from $37.48bn in 2017 to $74.96bn by 2022, at a Compound Annual Growth Rate (CAGR) of 14.9%. The growing profile of social media and mobile advertising are expected to accelerate the growth.
Also, the massive digital penetration has increased internet users across social media platforms like LinkedIn, Facebook, Twitter, Instagram, and YouTube which increases opportunities for small and medium-sized Enterprises (SMEs) to advertise and build their brands according to a research by MarketsandMarkets.
Empowered by personalized marketing material appealing to an individual customer, the research named North America as the largest market in the global DMS Market. USA and Canada lead the way in DMS market share due to high budget availability.
The growth has further been stirred by the media and entertainment industry as increase in the demand for mobile, and social channels accelerates the web traffic and ensure good return on advertising investment delivery across paid search and display channels.
The research titled ‘Digital Marketing Software Market by Component, Software (CRM Software, Email Marketing Software, and Social Media Advertising), Service, Deployment Type, Organization Size, Industry Vertical, and Region – Global Forecast to 2022’ was done by collecting and analysing data on key vendor product offerings and business strategies from secondary sources.