ID: MRFR/ICT/8597-HCR | February 2021 | Region: Global | 100 pages
Marketing Resource Management Market was valued at USD 2.42 Billion in 2018 and is expected to reach USD 5.9 Billion by 2026, growing at a 13.30% CAGR during the forecast period, 2020–2026.
Marketing resource management (MRM) is a software platform, which helps marketers in organizing and managing their marketing operations. MRM solutions assist in the management of complicated marketing processes, such as plans, budgets, tasks, creation, ideation, and assets. The software allows organizations to plan out the strategic and financial planning of marketing initiatives, create and organize related marketing assets, and distribute marketing assets internally and externally, thereby ensuring faster time-to-market (TTM), increase brand awareness and reach, boost in online traffic and sales, and enhanced customer experience.
The growing need to analyze market trends and plan effective marketing strategies and ensure the brand promotion and regulatory compliance are the factors driving the growth of the marketing resource management market. Marketing resource management solutions help enterprises in strategic planning and budgeting, project management, resource management, and content management, media planning, and execution, which helps them understand and analyze trends and plan effective marketing strategies to promote the brand and its related products and services and tap new customers. The market seeks opportunities from the increasing demand for cloud-based MRM solutions and the integration of advanced technologies such as AI and ML.
Marketing Resource Management Market Key Players
The prominent players active in the market for marketing resource management are IBM Corporation (US), SAP SE (Germany), SAS Institute, Inc. (US), Microsoft Corporation (US), Adobe Systems, Inc. (US), Infor, Inc. (US), Oracle, Inc. (US), HCL Technologies (India), Workfront, Inc. (US), North Plains Systems Corporation (Canada), Teradata Corporation (US), Aprimo (US), Broadridge (US), Sitecore (US), and Capital ID (Netherlands).
Source: MRFR Analysis
Global Marketing Resource Management Market has been segmented based on Component, Deployment, Organization Size, Vertical, and Region.
By Component, the global market has been segmented into solution and service. The solution segment has been further bifurcated into project management, financial management, asset management, brand and advertising management, marketing analytics, and performance management. The service segment has been further classified into consulting and implementation, training, and support and maintenance.
By Deployment, the global market has been segmented into on-premise and on-cloud.
By Organization Size, the market has been bifurcated into large enterprises and small and medium-sized enterprises.
By Vertical, the global market has been segmented into IT and telecommunication, BFSI, media and entertainment, retail and e-commerce, healthcare, and others.
By Region, the marketing resource management market has been segmented into North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.
Market Research Future (MRFR) study has covered the following countries in the regional analysis of the marketing resource management market: the US, Canada, and Mexico in North America, Germany, the UK, France, and Italy in Europe, China, Japan, India, and South Korea in Asia-Pacific, Saudi Arabia, the UAE, and South Africa in the Middle East & Africa, and Brazil, Argentina, and Colombia in South America.
North America currently dominates the marketing resource management and has a significant market share owing to the presence of the majority of key players in the market who are investing heavily in research & development to develop advanced solutions for managing various marketing related operations and resources. Furthermore, the region is also an early adopter of technology, and organizations across the region focus on marketing campaigns and activities to promote the increase in the market reach, which drives the demand for marketing resource management software.
Asia-Pacific is projected to be the fastest-growing regional market during the forecast period. Growing demand for cloud-based solutions and services and government policies supporting the growth of SMEs in the region is likely to drive the market growth. The region witnesses growing awareness among SMEs and large enterprises in the region to enhance their marketing campaigns and the projects to help promote and increase the brand reach. Europe is also expected to have a considerable share in the market. The Middle East & Africa and South America markets are projected to witness a steady growth rate during the study period.
Frequently Asked Questions (FAQ) :
The marketing resource management market valuation could be USD5.9 billion by 2026.
The marketing resource management market would record 13.30% CAGR during the forecast period of 2020-2026.
The marketing resource management market players are SAS Institute, Inc. (US), Microsoft Corporation (US), IBM Corporation (US), SAP SE (Germany), Oracle, Inc. (US), HCL Technologies (India), Adobe Systems, Inc. (US), Infor, Inc. (US), North Plains Systems Corporation (Canada), Sitecore (US), Workfront, Inc. (US), Aprimo (US), Broadridge (US), Teradata Corporation (US), and Capital ID (Netherlands).
North America would be the flag-bearer of the marketing resource management market.
Asia Pacific would emerge as the fastest-growing marketing resource management market region.