Marketers Increase Digital Media Focus To Woo NextGen
The increased adoption of digital platforms, mobile devices and SaaS (software-as-a-service based) solutions is contributing to a spurt in growth of digital marketing solutions. TechNavio’s analysts forecast the Global Digital Marketing Software market to grow at a CAGR of 14.25 percent over the period 2012-2016.
According to the report, organizations are increasingly focusing on the digital media for marketing due to the high adoption of mobile devices, growing number of broadband connections, and the increasing time spent by users on the internet. Companies realize that the next generation of customers is going to be much more digitally savvy than before. Therefore it makes sense for them to invest in solutions that can prepare them for the future.
However, report also points out that the lack of skilled personnel could pose a challenge to the growth of this market. The emergence of SaaS-based digital marketing solutions has enabled organizations to increase their efficiency and reduce the cost of deploying valuable IT infrastructure. However, organizations are still analyzing the feasibility and relevance of cloud computing solutions in their IT operations.
Digital marketing uses various tools for digital marketing functions such as sales CRM, marketing automation, e-commerce, e-mail, WCM, web analytics, and social CRM. All these software tools collectively help an organization to develop and implement effective marketing strategies. The key vendors dominating this space include IBM, Microsoft, Oracle, and SAP AG.
The SaaS-based model for digital marketing offers a pay-per-use model, along with one-time set up fee for the software, maintenance, upgradation, and lifetime support. Hence, the Global Digital Marketing Software market is witnessing a trend where many vendors in the market have begun to offer their solutions through the SaaS-based model to expand their services and enter new markets.
In addition, digital marketing solutions are becoming increasingly popular, as they enable businesses to securely store, access, and maintain digital records, images, text, and data. This is leading to an increased adoption of SaaS-based solutions.
TechNavio’s report, the Global Digital Marketing Software market 2012-2016, covers the market in the Americas, and the EMEA and APAC regions; it also covers the Global Digital Marketing Software market landscape and its growth prospects in the coming years.
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