Digital Marketing Software Market – Latest Study Reveals New Growth Dynamics | Oracle, Sap, Microsoft – Digital Journal

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Market Overview
The trends suggest that the Digital Marketing Software Market was valued at USD 26.37 billion in 2020 and is expected to reach USD $264.5 Billion by 2030. The global market is projected to be recording a CAGR of 19.20 % during the forecast period. The digital marketing share in the overall marketing budget of organizations and real-time marketing is on the rise, followed by other factors like the significant importance of digital marketing, which increases the need for Digital Marketing Software Market. In a recent study conducted by Google, it was found that 48% of the global market consumers start their inquiries on search engines, while 33% search brand websites, and 26% search within mobile applications. Businesses are consenting and willing to engage with their customers on every digital platform with different devices, using Digital Marketing Software Market, where habits can be tracked and analyzed.
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The growth of large data collection in areas such as digital marketing and the increase of trade by removing barriers is expected to create opportunities for market growth. Social CRM solutions are expected to grow during the current forecast period as organizations try to interact with customers on social sites, such as Facebook and Twitter, to expand awareness of their ideas, brands and products. .
Market Segmentation
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 Regional Analysis
In recent years, the rise in internet penetration in countries, such as India and China have brought a major region population online. It is expected to result in a profitable opportunity for digital marketing. The factor mentioned above is set to result in a growth of social media presence, leading to a surge in social media-based marketing campaigns.
The Indian region has evolved into a Digital Marketing Software Market remarkably suited for investment in the digital space, particularly for consulting firms that assist with the transition to the digital sphere. As the Digital India strategy continues to take a better shape, it is very clear about a “cloud-first” approach. The initiative is expected to result in cloud-based Digital Marketing Software Market adoption in the country.
Industry News
In 2018, one of the market players, Salesforce.Com Inc., had introduced Datorama as a part of its marketing cloud services. Datorama enables companies to bring together their marketing data from different channels, campaigns, and regions to unlock insights and take action on all marketing activities. With Datorama, customers, including brands and agencies, can help to understand the effectiveness of their marketing investments and optimize in real-time.
In 2018, another Digital Marketing Software Market company – IBM Corporation and Colombia, had announced a partnership to leverage the IBM Watson, expand regional language content promotion, and implement state-of-the-art cross-language recommendation systems over multiple media contents, text articles, audio, video, etc. Colombia had leveraged IBM Watson’s Natural Language Understanding service to enrich content with additional features, such as named entities, categories, and concepts.
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