Marketing Resource Management Market Overview:
The Marketing Resource Management market industry
is projected to grow from USD 6.59 Billion in 2023 to USD 15.97 Billion by
2032, exhibiting a compound annual growth rate (CAGR) of 11.7% during the
forecasted timeframe (2023 - 2032).
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Key Players:
Key Companies in the
Marketing Resource Management market include,
- IBM Corporation (US)
- SAP SE (Germany)
- SAS Institute, Inc. (US)
- Microsoft Corporation (US)
- Adobe Systems, Inc. (US)
- Infor, Inc. (US)
- Oracle, Inc. (US)
- HCL Technologies (India)
- Workfront, Inc. (US)
Regional Analysis:
The geographic analysis of the global Marketing
Resource Management Market has been conducted for North America (the US,
Canada, and Mexico), Europe (Germany, the UK, France, Italy, and the rest of
Europe), Asia-Pacific (China, Japan, India, South Korea, and the rest of
Asia-Pacific), the Middle East & Africa (Saudi Arabia, the UAE, South
Africa, and the rest of the Middle East & Africa), and South America
(Brazil, Argentina, Colombia, and the rest of South America).
North America is currently dominating the marketing
resource management market. The US is expected to have the largest market share
in the marketing resource management market in the region, followed by Canada
and Mexico. The region hosts a majority of the key players making the market
highly competitive. These key players are focused on developing marketing
resource management tools with advanced capabilities to cater to a wide
application area across different industries, offering them a competitive
advantage in the market. Additionally, the region has witnessed an increase in
demand for marketing campaigns to promote the brands of the market players,
thereby increasing the demand for marketing resource management solutions.
Europe follows North America and accounts for a
considerable share in the marketing resource management market. Enterprises
across the region are increasingly shifting towards online channels to increase
their customer base and increase their market reach. Additionally, the growing
need among enterprises to ensure the brand promotion and adhere to the
stringent regulatory compliance requirements in the region is further driving
the market growth in the region.
Asia-Pacific is projected to register the highest
CAGR in the marketing resource management market. The region has witnessed
increasing support from the government for the growth of SMEs and has a growing
retail and e-commerce market, which drives the demand for marketing resource
management solutions. Furthermore, the adoption of cloud-based solutions and
services is further boosting the market growth in the region. Additionally, the
growing number of startups focusing on developing marketing resource management
solutions for enterprises across various verticals is expected to drive the
regional market growth during the forecast period.
The marketing resource management market in the
Middle East & Africa and South America is expected to grow at a steady
pace. Rising demand for MRM solutions among enterprises for obtaining business
insights to ensuring faster time-to-market (TTM), increase brand awareness and
reach, boost in online traffic and sales, and enhance customer experience are
driving the market growth in the region.
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Marketing Resource Management Industry
Developments:
January: Workfront, a leading MRM software
provider, announced that it had acquired Cascade, a marketing resource planning
(MRP) platform. This acquisition will help Workfront to expand its MRP
capabilities and provide customers with a more holistic view of their marketing
resources.
February: Adobe, a major player in the MRM
software market, released a new version of its Marketing Cloud platform. The
new version includes a number of new features and capabilities, such as
improved marketing automation, analytics, and reporting.
March: IBM, another major player in the
MRM software market, announced that it was acquiring PromoGenesis, a marketing
resource management platform. This acquisition will help IBM to expand its MRM
capabilities and provide customers with a more integrated view of their
marketing campaigns.
April: SAS Institute, a leading
analytics software provider, released a new version of its Marketing Resource
Management (MRM) solution. The new version includes a number of new features
and capabilities, such as improved data integration, reporting, and analytics.
May: North Plains Systems, a leading
MRM software provider, announced that it had raised $10 million in Series A
funding. This funding will help North Plains Systems to expand its product
development and marketing efforts.
June: Infor, a leading enterprise
software provider, released a new version of its MRM solution. The new version
includes a number of new features and capabilities, such as improved
collaboration, project management, and reporting.
July: SAP, a major player in the MRM
software market, announced that it was acquiring Gigya, a customer identity and
access management (IAM) platform. This acquisition will help SAP to expand its
MRM capabilities and provide customers with a more secure and integrated view
of their marketing data.
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