DUBLIN, Sept. 26, 2023 /PRNewswire/ — The “Marketing Resource Management Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” report has been added to ResearchAndMarkets.com’s offering.
The global marketing resource management (MRM) market has demonstrated substantial growth, achieving a size of US$ 3.7 billion in 2022. According to industry experts, this upward trajectory is expected to continue, with the market projected to reach US$ 6.9 billion by 2028, reflecting a remarkable compound annual growth rate (CAGR) of 10.8% during the period from 2023 to 2028.
Streamlining Marketing Operations with MRM
Marketing resource management (MRM) is a cloud-based software application adopted by organizations worldwide to efficiently centralize and manage their marketing operations. MRM empowers organizations to consolidate brand compliance, streamline marketing workflows, and track return on investment (ROI).
Its core functions encompass budgeting, planning, and management of marketing assets, content, projects, and the analysis of the effectiveness of marketing communications and initiatives. MRM finds widespread applications across diverse industries, including banking, financial services, and insurance (BFSI), information technology (IT), healthcare, retail, and automotive.
Key Drivers of Market Growth
The market’s robust growth is propelled by several key factors. Firstly, the burgeoning trend of digitization, coupled with the widespread adoption of cloud-based MRM solutions globally, is driving market expansion. Organizations are rapidly transitioning to cloud and software-as-a-service (SaaS)-based solutions to create cost-effective and customizable marketing ecosystems.
Additionally, the integration of MRM with artificial intelligence (AI) and big data tools for data-driven marketing is further accelerating market growth. These advanced solutions enable organizations to assess the effectiveness of their digital marketing assets and take corrective actions for maximum profitability.
The growing organizational need for personalized brand imaging represents another significant growth catalyst. MRM is designed to deliver customer-centric content that enhances brand experiences through unique customer profiles, thereby improving an organization’s market presence. Furthermore, factors such as rapid urbanization, increasing consumer spending capacity, and extensive research and development (R&D) in the information technology (IT) sector are expected to contribute to market expansion.
The report provides a comprehensive analysis of key trends within each sub-segment of the global marketing resource management market report. The report provides forecasts at the global, regional, and country levels from 2023 to 2028, categorizing the market based on solution type, deployment type, end-user, and vertical.
By Solution Type:
- Marketing Reporting and Analytics
- Capacity Planning Management
- Financial Management
- Creative Production Management
- Brand and Advertising Management
- Marketing Asset Management
By Deployment Type:
- Large Enterprises
- Small and Medium Enterprises
- Media and Entertainment
- Consumer Goods
The report provides a detailed assessment of market performance across regions, encompassing North America, Asia-Pacific, Europe, Latin America, and the Middle East and Africa.
Key players shaping the marketing resource management market include Adobe, Brandmaker, IBM Corporation, Infor, Microsoft Corporation, North Plain Systems, SAP SE, SAS, Teradata Corporation, Workfront Inc., and others.
Key Questions Answered
- What is the current size of the global marketing resource management market?
- What is the expected growth rate of the global marketing resource management market from 2023 to 2028?
- What are the primary factors driving the global marketing resource management market?
- How has COVID-19 impacted the global marketing resource management market?
- What is the market segmentation based on solution type, deployment type, end-user, and vertical?
- Which regions are pivotal in the global marketing resource management market?
- Who are the key players and companies contributing to the global marketing resource management market’s growth?
The global marketing resource management (MRM) market is on a growth trajectory, driven by the imperative need for organizations to streamline marketing operations, enhance brand imaging, and harness digital technologies for data-driven marketing. As the market continues to expand, industry experts remain committed to providing comprehensive insights and in-depth analysis of this dynamic landscape.
For more information about this report visit https://www.researchandmarkets.com/r/3m2a3p
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Originally published at https://www.prnewswire.com/news-releases/digital-transformation-fuels-explosive-growth-in-the-global-marketing-resource-management-market-projected-cagr-of-10-8-by-2028–301938996.html