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The global marketing cloud platform market size is expected to grow from USD 11.7 billion in 2022 to USD 17.8 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 8.7% during the forecast period. Businesses can send automated messages to customers via email, the web, social media, and text using the marketing cloud platform. Marketing workflows, which are collections of guidelines, control the automatic sending of messages. It can be created from scratch, customized using templates, or changed mid-campaign to improve performance on a marketing cloud platform.
As per organization size, the SMEs segment to grow at a higher CAGR during the forecast period
SMEs are anticipated to develop at a higher CAGR of 10.6% during the forecast period, while the large enterprises sector is expected to hold a larger market share based on organization size. Therefore, the adoption of marketing cloud platforms is comparatively higher in large organizations than in SMEs. are increasingly implementing marketing cloud platform solutions. As a result of the more intense competition in the industry, SMEs are predicted to invest in marketing cloud platform products and services and implement go-to-market plans to make better business choices. Implementing marketing cloud platforms and related services is anticipated to increase SMEs' ability to manage risk, decrease administrative costs, comply with regulations, and achieve beneficial business outcomes.
As per regions, Asia Pacific to grow at the highest CAGR during the forecast period
As per regions, the Asia Pacific is estimated to hold the highest Compound Annual Growth Rate (CAGR) of 10.5% in the marketing cloud platform market. The major economies in the Asia Pacific region, such as China, India, Japan, and the rest of Asia Pacific, showcase a rapid rate ofthe marketing cloud platform. The region’s marketing cloud platform market is anticipated to be driven by untapped prospective markets, growing penetration of cutting-edge technologies, and application development in numerous industries. As businesses in the region quickly adopt marketing cloud platforms to cater customers a better experience, the market for these platforms is expanding quickly in Asia Pacific. Marketing cloud platforms are being widely adopted by the BFSI, retail and consumer goods, and media and entertainment industries to improve their marketing efforts. As a result, vendors of marketing cloud platforms are looking toward the Asia Pacific as a region with strong development potential for their marketing cloud platforms.
As per component, services segment to grow at higher CAGR during the forecast period
As per component, the services segment is estimated to hold the highest Compound Annual Growth Rate (CAGR) of 9.9% in the marketing cloud platform market. Marketing cloud platforms are further categorized into professional services and managed services. The professional services segment is further sub segmented into consulting, integration and implementation services, and training, support, and maintenance. The services segment of the marketing cloud platform will have a bright future in various marketing application integrations. Managed services are services provided by outside suppliers to handle business operations difficulties. These services enable reducing expenses, raising overall revenue, and enhancing productivity.
Breakdown of primaries
In-depth interviews were conducted with Chief Executive Officers (CEOs), innovation and technology directors, system integrators, and executives from various key organizations operating in the marketing cloud platform market.
- By Company: Tier I: 32%,Tier II: 49%, and Tier III: 19%
- By Designation: C-Level Executives: 33%, D-Level Executives: 22%, and Managers: 45%
- By Region: Asia Pacific: 35%, Europe: 20%, North America: 40%, Rest of World: 5%
The report includes the study of key players offering marketing cloud platforms. It profiles major vendors in the marketing cloud platform market. Some of the major marketing cloud platform market vendors areAdobe (US), Salesforce (US), Oracle (US), Pega systems (US), HubSpot (US), SAP (Germany), SAS (US), Redpoint Global (US), Cheetah Digital (US), Acoustic (US), Braze (US), Acquia (US), Cision (US), Insider (US), Sitecore (US), Resulticks (US), Fico (US), Selligent (Belgium), Zeta Global (US), Algonomy (US), Platformly (British Virgin Islands), Mapp (US), ConvertLab (China), SocialPilot (US), OneSignal (US), Bluecore (US), CleverTap (US), Optimove (US), MoEngage (US), and Iterable (US).
Research Coverage
The market study covers the marketing cloud platform market across segments. It aims at estimating the market size and the growth potential of this market across different segments, such as components, deployment types, marketing functions, organization sizes, verticals, and regions. It includes an in-depth competitive analysis of the market's key players, their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report
The report would provide the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall marketing cloud platform market and its sub segments. It would help stakeholders understand the competitive landscape and gain more insights better to position their business and plan suitable go-to-market strategies. It also helps stakeholders understand the market's pulse and provides them with information on key market drivers, restraints, challenges, and opportunities.