The global Marketing Resource Management (MRM) Market size is expected to grow from USD 2.9 billion in 2020 to USD 5.0 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 11.8% during the forecast period. Factors driving the market growth are benefits of modular suites with interconnected solutions and third-party integrations, need for ensuring brand and regulatory compliance, and the need for reducing cycle time projections through content deduplication and distribution.
Large enterprises segment to hold a larger market size during the forecast period
The adoption of MRM solutions is high among large enterprises, due to high budget allocation, presence of the large number of vendors, digital assets, and workforce, extensive product portfolio and affordability due to economies of scale. Moreover, rising focus on customer experience compelling them to adopt robust marketing technologies that enable automated responses and suggestions for the curated campaign is another factor for the high adoption of MRM solutions among large enterprises.
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Consumer goods and retail segment to grow at the highest CAGR during the forecast period
A growing need to market products and target customers based on the digital footprint drives retail and consumer goods companies to adopt advanced marketing technologies. With this, several retailers and consumer goods companies are leveraging the internet by launching their eCommerce site, using different mediums to connect with customers, and using MRM solutions to improve their marketing content distribution across those channels. Owing to this, the consumer goods and retail segment to grow at the highest CAGR.
The MRM market comprises major solution providers, such as SAP (Germany), SAS (US), Aprimo (US), BrandMaker (Germany), Workfront (US), HCL Technologies (India), Oracle (US), Percolate (US), Allocadia (Canada), Adobe (US), Infor (US), Northplains (Canada), Broadridge (US), Sitecore (US), Contentserv (Switzerland), Bynder (US), censhare (Germany), MarcomCentral (US), Elateral (UK), Capital ID (Netherlands), Wedia (France), NewsCred (US), inMotionNow (US), and Simple (Australia). The study includes an in-depth competitive analysis of key players in the MRM market with their company profiles, recent developments, and key market strategies.
The players in this market have embraced different strategies to expand their global presence and increase their market shares. New product launches and enhancements, and partnerships, and collaborations, have been the most dominating strategies adopted by the major players from 2018 to 2020, which helped them strengthen their offerings and broaden their customer base.
SAP (Germany) has a strong foothold in the MRM market with its robust offerings. The company adopted various organic growth strategies and continues to enhance its expertise in the market. For instance, in February 2020, SAP released SAP Marketing Cloud 2002 with new features that include New Email Editor in Content Studio application and Email Seed Lists in Campaign and Journey Orchestration module that help create powerful marketing emails and inform colleagues about ongoing campaigns respectively. The release also involved improved wait and delay in Campaign Automation Flow of Campaign and Journey Orchestration module, enhanced capability of querying contact data from Google Analytics and Google BigQuery, and better last-click attribution, landing page editor, and Commerce Cloud integration.
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Aprimo (US) is among the leaders in the MRM market with a robust partner network and strong offerings. The company has alliances with many leading companies and adopted various organic and inorganic growth strategies to maintain a strong foothold in the MRM market. For instance, in February 2020, Aprimo partnered with gateB, a Switzerland-based consulting and implementation partner, to deliver its MRM software to the companies operating in both DACH region and the US. With the partnership, gateB is now a preferred implementation and solution provider for Aprimo in the DACH region.
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