Digital Marketing Software Market Expected to Reach $181.0 Billion with a CAGR of 14.1% by 2030

The digital marketing software market was valued at $48.4 billion in 2020, and is estimated to reach $181.0 billion by 2030, growing at a CAGR of 14.1% from 2021 to 2030.

In the wake of COVID-19 pandemic, most of the companies are operating online and thus, need to increase their customer reach and advertise their product offerings with the help of digital marketing software. Thus, the pandemic has a positive impact on the digital marketing software industry.

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Digital marketing is the process of marketing products or services to potential customers via digital channels and the internet. Digital marketing has the same goals as traditional marketing, the only difference is the medium used to convey the marketing message. Various digital marketing activities, such as search engine optimization (SEO), social media marketing (SMM), email marketing, search engine marketing (SEM), and content creation are used by businesses to promote their brand to their potential consumers or to retain their customers.

Digital marketing allows businesses to allocate their marketing resources to the right set of people through the right channels. This ensures optimal use of resources and higher conversion rates. Thus, it has become a very integral part of all kinds of businesses in present era. And especially since the COVID-19 pandemic, digital marketing has turned into a necessity. Ideally, it is one of the most effective ways to reach target market while they are stuck at home and spending a lot of time on the internet. Consequently, this has given a boost to the scope of digital marketing careers. To run smoothly, companies need digital marketing professionals and experts, and thus the job market is growing tremendously.

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By region, the global digital marketing software market is being dominated by North America in 2020, and is expected to maintain this trend during the forecast period. The region witnessed immense potential growth in the digital marketing software market owing to increase in demand from the media & entertainment industries in the region. Further, the ecommerce industry in the region has increased demand for digital marketing software. However, Asia-Pacific is expected to witness exponential growth in the digital marketing industry owing to the governmental support for digitalization, specifically in countries such as India, China, and Singapore. Further, governments have extended their support to small and medium enterprises (SMEs) to utilize digital services for geographical presence expansion.

The key players profiled in the digital marketing software market analysis are Adobe, Google Corporation, Hewlett Packard Enterprise Development LP, HubSpot, Inc., IBM Corporation, Microsoft Corporation, Oracle Corporation, Salesforce, Inc., SAP SE, and SAS Institute Inc. These players adopt various strategies to increase their market penetration and strengthen their position in the industry.

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