LONDON–(BUSINESS WIRE)–Technavio market research analyst forecast a CAGR of close to 17% for the global digital marketing software (DMS) market for the period 2018-2022, in their latest report.

The report segments the global digital marketing software market by deployment (cloud-based model and on-premises model) and by geography (the Americas, EMEA, and APAC). It provides a detailed illustration of the major factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.

Here are some key findings of the global digital marketing software market, according to Technavio ICT researchers:

• Increasing budget for digital marketing: a major market driver
• Technological advancements: emerging market trend
• The Americas dominated the global digital marketing software market with 40% share in 2017

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Increasing budget for digital marketing: a major market driver

The continuous increasing budget allocation for digital advertising and marketing is a crucial factor driving the global DMS market. Digital marketing is still dominating the marketing budget of enterprises as DMS helps to keep track of the ROI pertaining to any digital marketing activity or campaign. This leads to additional transparency in the digital marketing process. DMS creates a transparent link between digital marketing activities and eventual sales revenue as well as results; it also provides a numeric score of all marketing activities.

One of the other factors driving the demand for digital marketing is the implementation of customer-centric perspective across enterprises. Digital marketing strategies are an important determinant of success for every company. Thus, DMS is now recognized as a tool to maintain competitiveness, thereby, increasing the budget allocation. To remain competitive in the market, a well-designed and unified digital marketing strategy is important and this, in turn, is driving the global DMS market.

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Increased acceptance of cross-platform and multi-channel marketing: emerging market trend

The number of digital channels to reach end-users is endless. Such channels are scattered across different geographies and are growing at a fast rate and providing a massive opportunity for marketers to target their customers appropriately. It is necessary to provide a unified experience to these users that are actively consuming a diverse set of digital media. DMS will guide the focus of digital marketing and is expected to shift from these channels to end-users. The digital marketing content is supposed to be appropriately optimized for its delivery and consumption across these various channels to a differentiated set of users.

According to a senior analyst at Technavio for research on enterprise application, “Cross-platform digital marketing is a trending factor in today’s world. Digital marketing is not restricted and includes various platforms and systems, which is expected to expand in scope. Digital marketing is present on different platforms like mobile apps, videos, live streaming, mobile games, social media, and many other channels. The latest technology trend is live streaming. Live brand experiences through live streaming has opened opportunities for marketers to target the appropriate audience effectively.”

Global market opportunities

In terms of regional dominance, the Americas led the global digital marketing software market, followed by EMEA and APAC in 2017. The maturity of the industrial sector, economic growth, increased Internet penetration, and the presence of major DMS players is driving the market in the Americas and attracting more investments in the global DMS market.

In EMEA, the DMS market is driven by the presence of some of the most advanced economies of the world. APAC is also expected to increase the distribution of advanced software and accelerated adoption of technology across verticals, which will fuel the growth of DMS in this region.

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