The global Marketing Cloud Platform Market size is expected to grow from USD 11.7 billion in 2022 to USD 17.8 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 8.7% during the forecast period. Marketing cloud platforms are integrated multichannel marketing solutions comprising support for creating and executing campaigns and communications via web and email marketing, mobile and social marketing. The marketing cloud platform helps organizations create campaigns based on a specific audience, shoppers’ needs, and their previous buying behaviors. It can send personalized emails, create targeted ads, and develop relevant email campaigns for a specific audience.
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As per verticals, the media, entertainment, and gaming segment to grow at the highest CAGR during the forecast period
The marketing cloud platform market is segmented into Banking, Financial Services, and Insurance (BFSI), IT & telecom, retail & eCommerce, healthcare & life sciences, education, travel & hospitality, media, entertainment, & gaming, and others. As per verticals, media, entertainment, and games segment is expected to grow at the highest CAGR of 10.7% during the forecast period. The media, entertainment, and gaming vertical has undergone a transformation to adapt its business processes and the way content is created, managed, and distributed with the development of the digital era. The emergence of digital marketing channels built on a search engine, social media, and video technology has enabled marketing cloud platform vendors in this vertical to discover new ways to engage and attract customers by sending personalized content.
Sales channel, marketing function is expected to grow at highest CAGR during the forecast period
The marketing cloud platform market by marketing function is segmented into advertising, branding, designing, sales channel, communications, and customer support. During the forecast period, the sales channel marketing function tends to grow at the highest CAGR of 11.3% as customers are increasingly using several channels to obtain their desired goods, such as customer portals, channel partner portals, guest checkout, marketplaces, and native mobile apps. Choosing the right sales channels is essential for a company since it significantly impacts the success or failure of the product and the enterprise. A marketing team may continuously communicate with potential customers over lengthy sales cycles to assist prospects ‘warm up’ for the sales team.
Marketing clouds include several marketing solutions that are all offered through the cloud, and all help marketers manage client relationships and marketing campaigns more effectively. Marketing cloud platforms are created to make real-time tracking, scheduling, and decision-making easier as part of a larger trend toward Customer Relationship Management (CRM) software. This enables businesses to gradually increase their digital marketing efforts by utilizing additional marketing cloud services.
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Some of the major marketing cloud platform market vendors are Adobe (US), Salesforce (US), Oracle (US), Pegasystems (US), HubSpot (US), SAP (Germany), SAS (US), Redpoint Global (US), Cheetah Digital (US), Acoustic (US), Braze (US), Acquia (US), Cision (US), Insider (US), Sitecore (US), Resulticks (US), Fico (US), Selligent (Belgium), Zeta Global (US), and Algonomy (US).
Salesforce was founded in 1991 and is headquartered in California, US. In the digital age, the company leads the world in CRM technology, which links businesses and their consumers. Salesforce helps businesses of all sizes and sectors leverage cutting-edge technologies, such as cloud, mobile, social, blockchain, and artificial intelligence, to connect with their customers in entirely new ways and transform their organizations around the consumer-centric and digital-first world. The salesforce marketing cloud platform enables the creation of an individualized, cross-channel customer life cycle that creates outstanding brand experiences, helping maximize every customer engagement. The Salesforce Marketing Cloud Platform offers an exact target for email, mobile, and web marketing; a social studio for social media marketing; social.com for digital advertising; and Pardot for B2B marketing automation.
Salesforce has customers in North America, Europe, Asia Pacific, the Middle East and Africa. Salesforce believes that significant additional investments will be required to scale their operations and increase productivity, satisfy customer needs, significantly build & improve offerings, and expand into new geographic regions. Salesforce offers a variety of industry verticals, such as automotive, communications, consumer goods & retail, BFSI, government, healthcare & life sciences, higher education, manufacturing, media, non-profit, and transportation & hospitality.
Pegasystems was founded in 1983 and is headquartered in Massachusetts, US. Pegasystems create, market, license, host, and provide support for enterprise software that enables businesses to reduce complexity. Leading businesses and government organizations can hyper-personalize consumer experiences, improve customer service, and automate workflows for mission-critical business operations due to a robust low-code platform for AI-powered decisioning. Pegasystems helps businesses speed their digital transformation by utilizing its intelligent technology and scalable architecture. Pega is a potent low-code platform that gives the most successful companies in the world adaptability so they can change with the times. Its AI-powered decisioning and workflow automation are used by clients to address their most critical business concerns, such as enhancing customer engagement, automating services, and optimizing processes.
Pegasystems offer plenty of marketing cloud products, such as Pega Customer Decision Hub, Pega Customer Service, and Pega Client Lifecycle management. The company caters to plenty of industries, such as financial services, insurance, healthcare & life sciences, telecom, government, and manufacturing. The Pegasystems are present in various regions, such as North America, Asia Pacific, Europe, and the Middle East & Africa.
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