Overview and Scope
Marketing resource management refers to a software solution used by
organizations to effectively plan, budget, execute, and analyze their marketing
activities. It facilitates better control over marketing resources, improving
efficiency, and maximizing return on investment (ROI) in marketing initiatives.
Sizing and Forecast
The marketing resource management market size has grown rapidly in recent
years. It will grow from $5.37 billion in 2023 to $6.20 billion in 2024 at a
compound annual growth rate (CAGR) of 15.3%.
The growth in the historic period can be attributed to efficiency
improvement, cross-team collaboration, data-driven decision-making, the desire
to reduce unnecessary marketing expenses, and growing awareness of the
importance of adhering to regulatory standards.
The marketing resource management market size is expected to see rapid growth
in the next few years. It will grow to $11.03 billion in 2028 at a compound
annual growth rate (CAGR) of 15.5%. The
growth in the forecast period can be attributed to AI and automation
integration, security and privacy concerns, continuous training and
development, demand for scalability, and demand for real-time insights. Major
trends in the forecast period include enhanced AI capabilities, blockchain for
transparent marketing supply chains, advanced cross-channel attribution models,
integration with virtual and augmented reality, and voice search optimization.
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Segmentation & Regional Insights
The marketing resource management market covered in this report is segmented –
1) By Solution Type: Marketing Reporting And Analytics, Capacity Planning
Management, Financial Management, Creative Production Management, Brand And
Advertising Management, Marketing Asset Management, Other Solutions
2) By Deployment Type: Cloud-based, On-premises
3) By Vertical: Media And Entertainment, Retail, Banking, Financial Services,
And Insurance, Healthcare, Consumer Goods, Automotive, Manufacturing, Apparel,
Other Verticals
North America was the largest region in the marketing resource management
market in 2023. Asia-Pacific is expected to be the fastest-growing region in
the forecast period. The regions covered in the marketing resource management
market report are Asia-Pacific, Western Europe, Eastern Europe, North America,
South America, Middle East and Africa.
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Major Driver Impacting Market Growth
A rise in digital marketing initiatives is expected to propel the growth of the
marketing resource management market moving forward. Digital marketing
initiatives refer to online strategies and tactics aimed at promoting products
or services, leveraging channels such as social media, search engines, email,
and websites to reach and engage target audiences, ultimately driving brand
awareness and conversions. The rise in digital marketing initiatives is driven
by the growing online presence of consumers and the effectiveness of targeted
advertising on digital platforms. Marketing resource management (MRM)
streamlines and optimizes digital marketing processes, ensuring efficient
allocation of resources for maximum return on investment (ROI). For instance,
in April 2022, according to the Interactive Advertising Bureau (IAB), a
US-based advertising business organization, 2021 year-on-year growth for total
digital ad revenues climbed 35.4%, reaching a total of $189 billion. This
growth is nearly three times larger than the growth of 12.2% in 2020. Revenues
increased by $50 billion in just one year. Therefore, the rise in digital
marketing initiatives is driving the growth of the marketing resource
management market.
Key Industry Players
Major companies operating in the marketing resource management market are
Microsoft Corporation, International Business Machines Corporation, Oracle
Corporation, SAP SE, Adobe Systems Inc., HCL Technologies Limited, Broadridge
Financial Solutions, SAS Institute Inc., Teradata Corporation, Aprimo LLC,
MarcomCentral, BrandMaker GmbH, Sitecore Corporation, North Plains Systems
Corporation, Capital ID B.V., Allocadia Software Inc., Admation Pty. Ltd.,
Bynder B.V., BrandMaster AS, InMotionNow Inc., Marvia B.V., IntelligenceBank
Pty. Ltd., Hive9 Solutions Inc., Optimatica Technologies LLC
The marketing resource management market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
.
.
.
27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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