Marketing Resource Management Market is Booming Across Globe
Marketing Resource Management Market is expected to grow at a 11.7% CAGR and be worth USD 15.2 Billion by 2030.
Shraddha Nevase
Marketing Resource Management Market Overview
Market Research Future (MRFR) Announces the Publication of its Half-Cooked Research Report—Global Marketing Resource Management Market Forecast from 2022-2030
The global Marketing Resource Management Market Share was valued at USD 2.42 billion in 2018 and is expected to reach USD 15.2 Billion by 2030, growing at a 11.7% CAGR during the forecast period, 2022-2030.
By component, the global marketing resource management market has been segmented into solution and service. The solution segment has been further sub-segmented into project management, financial management, asset management, brand and advertising management, marketing analytics, and performance management. The service segment has been further classified as consulting and implementation, training, and support and maintenance. The solution segment is expected to dominate the market owing to the increasing adoption of MRM solutions enterprises to effectively manage the various complicated marketing activities such as budgets, projects, digital assets, and resources. They enable companies to create, update, and maintain content to optimize content sharing and collaboration and publishing.
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By deployment, the global market has been categorized into on-cloud and on-premise. Among these, the on-cloud segment is expected to project higher CAGR during the forecast period owing to the scalability, flexibility, and cost-effective features offered by the cloud. This helps both large businesses and SMEs to process, manage, and report marketing data insights efficiently.
By organization size, the global market has been segmented into large enterprises and small and medium sized enterprises. Among these, the large enterprises segment is expected to dominate the market. Large enterprises have vast product portfolios, a large number of resources, and complex workflows, which drive the demand for MRM solutions. Furthermore, the high cost of solutions and integration of advanced technologies such as AI enable enhanced digital experience resulting in high returns on investments, increasing the adoption of MRM solutions among large enterprises.
By vertical, the global market has been categorized into IT and telecom, BFSI, media and entertainment, retail and e-commerce, healthcare, and others. Among these, the retail and e-commerce segment is expected to project the highest CAGR during the forecast period due to the growing demand for solutions to develop cross-border strategies for entering new markets, manage assets and related operations, and tap new customers across the globe.
By region, the marketing resource management market has been segmented into North America, Europe, Asia-Pacific, the Middle East & Africa, and South America. North America has been further segmented into the US, Canada, and Mexico. Europe has been further segmented into Germany, the UK, France, and Italy. Asia-Pacific has been sub-segmented into China, Japan, India, and South Korea. The Middle East & Africa has been sub-segmented into Saudi Arabia, the UAE, and South Africa and South America has been segmented into Brazil, Argentina, and Colombia.
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Key Players
The global marketing resource management market is expected to grow significantly in the coming years owing to the presence of numerous large players active in the market. 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) are the companies dominating the marketing resource management market globally.
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