According to the latest market research study by Technavio, the global marketing cloud platform market is expected to grow at a CAGR of close to 9% during the forecast period 2017 to 2021.
This report by Technavio provides an in-depth analysis of the global marketing cloud platform market in terms of revenue and emerging market trends. The report also includes a competitive vendor analysis and forecasts for various market segments and all geographical regions.
Technavio research analysts categorize the market based on the end-user
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The top three revenue contributing end-user segments are discussed below
Retail: In the retail sector, the marketing cloud database plays a significant role in improving conversion rates with powerful omnichannel capabilities. It also helps to boost sales by serving personalized offers across the web, mobile devices, and the physical stores.
“Customer expectations regarding purchases have changed with the rise in the use of the mobile technology and social media. Hence, retail companies, such as L’Oréal, Dunkin’ Donuts, and Room & Board, make use of marketing cloud platform to help them coordinate operations and better engage with their customers,” says Amit Sharma, a lead analyst at Technavio for research on enterprise application.
Financial services: In the financial services sector, service providers need to interact with customers on a personal level and must understand how each customer engages with the brand. With the help of marketing cloud services, organizations can create a profile of the customers, which allows them to acquire new leads and subscribers, increase brand awareness, and create brand advocates by utilizing the data collected during both online and offline experiences.
Media and entertainment: Media broadcasting and entertainment marketing need to present their content the way consumers expect in the market. The different ways of representation of content are available on multiple channels and across multiple devices. Digital marketing platform enables the media and entertainment companies to understand customers better and deliver content on every platform.
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The top vendors operating in the global marketing cloud platform market are:
- Adobe Systems
- Oracle
- Salesforce
- IBM
The other prominent vendors in the market include Act-On Software, Cision, eTrigue, GreenRope, Hatchbuck, HubSpot, Infusionsoft, LeadSquared, Salesfusion, and SAP.
A more detailed analysis is available in the Technavio report titled, ‘Global Marketing Cloud Platform Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
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