MarketsandMarkets forecasts the marketing automation market size to grow from USD 3.3 billion in 2019 to USD 6.4 billion by 2024, at a CAGR of 13.9% from 2019 to 2024. The increasing need for better engagement of customers, boosting demand generation, alignment of marketing & sales team, and transparent reporting system is expected to increase the adoption of marketing automation across the globe during the forecast period.
The marketing automation market includes major vendors, such HubSpot (US), Adobe (US), Oracle (US), Salesforce (US), ActiveCampaign (US), Acoustic (US), SAS (US), Act-On Software (US), Sendinblue (France), LeadSquared (India), Keap (US), GetResponse (Poland), Ontraport (US), SharpSpring (US), SimplyCast (Canada), ClickDimensions (US), and Net-Results (US). These players have adopted different growth strategies to expand their global presence and increase their market shares. New product launches and partnerships/collaborations are some of the significant strategies adopted by the major players to grow further in the marketing automation industry.
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Adobe (US) is recognized as one of the leading vendors in the marketing automation market. The company is a global provider of analytics, social targeting, media optimization, digital experience management, cross-channel campaign management, audience management, and video solutions. To achieve success, the company focuses on understanding the fast-changing needs of its clients and has adopted effective growth strategies to enhance its offerings and increase its market reach. As part of its inorganic growth strategy company has actively undertaken numerous acquisitions and partnerships in the past few years.
Salesforce (US) is one of the leading providers of enterprise software offered through the cloud platform. The company invests in R&D activities to provide its customers with new and technologically advanced products, which would deliver maximum results. The company has a robust partner network across the globe for assisting its commercial clientele to remain competitive in the market. Salesforce has a strong track record of integrating complimentary firms through collaborations and partnerships. In the past few years, the company has successfully collaborated with a large number of technology companies to enhance their offerings in the marketing automation market space.
In September 2018, Salesforce collaborated with Demandbase to integrate Salesforce Pardot with Demandbase’s Account-based Marketing solution. The product integration would enable B2B marketers to get Demandbase AI-powered account insights in Salesforce Pardot and Sales Cloud and thereby effectively engage with right prospects.
Related Reports:
Marketing Automation Market by Component (Software, Services), Organization Size, Applications (Lead Nurturing & Lead Scoring, Email Marketing, Social Media Marketing, Analytics & Reporting, Campaign Management), Industry & Region - Global Forecast to 2024
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