MARKETING AUTOMATION SOFTWARE MARKET SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS (2023 - 2028)

 Virtual reality (VR), over-the-top (OTT) video and online advertising are projected to be among the fastest-growing revenue generators for entertainment and media companies in developing economies where technology adoption is dominant, like the United States internet advertising and marketing market, and globally. These trends increase the need for high internet marketing activity, and the rising automation adoption for these activities supports the substantial scope for the vendors in the market studied.

With smartphone adoption reaching nearly 70% of the global mobile user base, according to GSMA Mobile Economy, data generation has exponentially increased. Such statistics further indicate the need for mobile-optimized marketing and automation-supporting software. According to GSMA, in 2022, 68% of the global population was reported to have had a mobile subscription. This figure is expected to reach 73% by 2030.

Compared to other industries, open email rates for media and entertainment are the highest globally, according to TrackMaven. With customer insights from social media analytics tools, media and entertainment companies can use segmented marketing data (based on demographics and interest) to direct specific content.

For instance, India and Canada's entertainment and media sectors have positioned themselves on the verge of an intense growth phase, backed by digitization and improving advertising revenues, owing to the enormous consumer demand. The rising rate of investments by foreign media and entertainment majors in the region has developed the M&E infrastructure to a higher extent.

The Marketing Automation Software Market size is expected to grow from USD 5.75 billion in 2023 to USD 13.48 billion by 2028, at a CAGR of 18.58% during the forecast period (2023-2028).

Due to the increasing significance of marketing in generating sales and customer retention, marketing services are witnessing a rise in spending.

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