Pune, India, February 25, 2021 (GLOBE NEWSWIRE) – Market Analysis for Marketing Resource Management / Market Trends for Marketing Resource Management
The global Marketing Resource Management market is extremely lucrative and is expected to see significant growth at a healthy CAGR of 13.30% over the forecast period (2020-2026). This is evident from the Market Research Future (MRFR) market forecast report for Marketing Resource Management. Marketing Resource Management, or MRM, is a software platform that helps marketers organize and manage their marketing operations. These solutions help manage complicated marketing processes like assets, brainstorming, creation, tasks, budgets and plans. It enables organizations to plan the financial and strategic planning of marketing initiatives, to create and organize related marketing assets, and to distribute marketing assets externally and internally. This ensures faster time to market, increases brand awareness, increases online sales and traffic, and improves the customer experience.
Enhancing the features that support the market growth
According to the MRFR report, there are numerous factors that determine the Marketing Resource Management market size. These include the need to analyze market trends, plan effective strategies, ensure regulatory compliance and brand promotion, the emerging digitization trend, the increasing use of cloud-based MRM solutions, the transition to SaaS and cloud-based solutions by businesses, customizable and costly. effective, rapid urbanization, extensive R&D in IT and increasing consumer spending capacities. Also, the integration of MRM with big data tools and AI can provide market opportunities for marketing resource management.
On the other hand, the lack of cost visibility in implementing MRM applications, upfront costs associated with new MRM systems, and lack of reliance on new marketing technologies can hamper the growth of the marketing resource management market over the forecast period.
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Almost every industry has been affected by the ongoing COVID-19 crisis, with the exception of a few, such as the marketing resource management industry. Fortunately, this breakout had a positive impact on market growth. This is because during the outbreak, several companies were quick to adopt artificial intelligence and machine learning technologies in different areas such as: B. in the execution of media planning, marketing analyzes, budgeting strategic planning and project management.
The Market Research Future report offers a comprehensive analysis of the Marketing Resource Management market based on vertical, company size, deployment, and component.
By component, the Marketing Resource Management market is segmented into Service & Solution. The solution segment is further divided into performance management, marketing analytics, brand and advertising management, asset management, financial management and project management. Service management is further subdivided into support and maintenance, training, as well as consulting and implementation. Of these, the solutions segment will be the market leader in the forecast period.
Provisioning divides the Marketing Resource Management market into on-cloud and on-premise. The on-premise segment will dominate the market in the forecast period.
Based on the company size, the Marketing Resource Management market is segmented into Small and Medium Business and Large Business. Of these, large companies will lead the market in the forecast period.
Vertically, the Marketing Resource Management market is segmented into Healthcare, Retail & E-Commerce, Media & Entertainment, BFSI, and IT & Telecommunications. The BFSI segment as well as IT and telecommunications will have the lion’s share in the market in the forecast period.
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North America aims to get Lions into the Marketing Resource Management market
By region, the global Marketing Resource Management market covers growth opportunities and the latest trends in Europe, Asia Pacific (APAC), North America, South America, and the Middle East and Africa (MEA). Of these, North America will have the lion’s share of the market in the forecast period. The presence of key key players who are making large investments in the development of research and development to develop advanced solutions for the management of various marketing operations and resources, the early adoption of technologies, organizations that focus on marketing campaigns and activities to promote the increase in growth Focus on market reach, and the presence of a large number of MRM vendors is contributing to the global Marketing Resource Management market growth in the region. In addition, the increasing adoption of advanced technologies to reduce manual tasks and streamline corporate workflows, and the increasing adoption of cutting-edge technologies to reduce manual tasks and simplify workflows are contributing to market growth.
APAC for healthy growth in the Marketing Resource Management market
Marketing Resource Management Market in the APAC region is expected to show healthy growth over the forecast period. Growing demand for cloud-based services and solutions, government policies that support the growth of SMEs, growing awareness among SMEs and large companies to improve their marketing campaigns and projects to increase and promote brand reach, and growing trend towards digitization. Also, companies are rapidly moving towards SaaS solutions to effectively create a marketing ecosystem that is inexpensive and highly customizable. This also contributes to the global market share of marketing resource management in the region.
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Among the prominent players featured in the Global Marketing Resource Management market report
- Capital ID (Netherlands)
- Sitecore (USA)
- Broadridge (USA)
- Aprimo (USA)
- Teradata Corporation (USA)
- North Plains Systems Corporation (Canada)
- Workfront, Inc. (USA)
- HCL Technologies (India)
- Oracle, Inc. (USA)
- Infor, Inc. (USA)
- Adobe Systems, Inc. (USA)
- Microsoft Corporation (USA)
- SAS Institute, Inc. (USA)
- SAP SE (Germany)
- IBM Corporation (USA)
Partnerships, R&D, collaborations, joint ventures and product launches are key players’ key strategies to stay on top.
January 2021 – Allocadia, a leading provider of MPM, announced new agile budgeting features to improve the budgeting process for global marketing organizations. With the latest features and capabilities, marketing teams can achieve flexible, real-time budget management with real-time, flexible budget management with reallocations that seamlessly track and request the movement of budget within, inside, and outside of their marketing plans through a transparent approval workflow.
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