Global Digital Marketing Software Market (DMS) was valued US$ 42.63 Bn in 2018 and is expected to reach US$ XX Bn by 2026, at a CAGR of XX% during a forecast period.
Digital marketing software share in overall marketing budget of firms and real-time marketing are increased because of growing importance of digital marketing which rises need of digital marketing software thus driving market growth. Increasing internet usage and broadband connections make it a potential platform for developing customer interaction. High social media platform attractiveness and rise in mobile device usage make it a potential platform for customer interaction and engagement. Social media advertising has witnessed rapid growth, and it has become an efficient platform to publish a concept, idea or indirect advertisements. Increasing popularity of social media websites are anticipated to drive digital marketing software market over the forecast period.
Lack of skilled labor in coding and handling marketing software are supposed to hinder the market growth. Shortage of qualified employees has resulted in high fixed cost for software development thus rising prices for end-use customers. High costs involved in digital marketing is also anticipated to negate the market growth.
The rising popularity of videos and trending videos on the internet used by companies for advertising are replacing traditional television advertisements which opens new market opportunities.
The global digital marketing software market based on component, software, service, deployment type, organization size, industry vertical, and region. In terms of component, the global digital marketing software market is segmented into software and services. Based on software, the global digital marketing software market is segmented into customer relationship management software, email marketing software, social media advertising, search marketing software, web content management software, marketing automation software, campaign management, and video advertising.