North America Marketing Automation Software Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 12.80 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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North America Marketing Automation Software Market Analysis
The North American marketing automation software market is expected to register a CAGR of 12.8% during the forecast period. Growing enterprise demand for a strategic marketing approach focused on creating and distributing valuable and relevant content to attract and engage a specifically defined audience, the increased presence of marketing automation vendors, and growing government support are the major factors driving market growth during the forecast period.
- Marketing automation facilitates the coordination of various sales teams to generate and keep track of leads. The marketing team uses the massive amount of data generated to plan and refine their campaigns. E-commerce websites like eBay and Amazon use products like these to customize their pages based on previous customer visits.
- Additionally, marketing automation software provides marketing teams with various solutions for seamlessly performing repetitive tasks. The rise of social media and the importance of maintaining a digital presence significantly propel the market's growth. The software can be used in email marketing and online advertising campaigns. The increasing use of social media platforms for disseminating information, creating a brand image, and reaching out to followers impacts the market. Increased SaaS usage and significant cloud computing advancements contribute to the market's growth. Marketing automation is a briskly growing subset of the CRM software market.
- Further, incorporating artificial intelligence and machine learning in search engines by using frequently used search phrases and optimizing them for maximum market reach is likely to be a new strategy for large corporations. Predictive analytics can help them meet the changing needs of their customers and focus their spending accordingly. Campaigns can be designed to meet the user's needs to generate leads, improve the customer experience and, in turn, drive the market automation software market.
- However, data privacy and security are critical considerations when implementing digital enablement technologies. As SMAC technologies become more widely used, organizations will require more robust security and privacy safeguards to prevent breaches. The issue of security has an impact on digitalization's success. As the number of customer data sets grows, so will the number of security and privacy issues, and endpoints, gateway, and smartphones can become a likely target for hackers. Data security and privacy are a bottleneck that must be effectively addressed.
- With the onset of the COVID-19 pandemic, many B2B marketing companies adopted a "play it safe" approach through which they reduced their marketing budgets until they could analyze the impact on their businesses and had to wait for the economic scenario to improve. According to a survey by Hubspot, almost half of the businesses implemented a cut of 1%-25% of their marketing budgets. During the pandemic, most B2B marketing companies reported budget cuts of 26%+, but some of the budgets have been restored, resulting in lower overall budgetary cuts due to the pandemic. Expanding focus beyond the traditional top-of-funnel demand generation, migration to digital mediums, and adopting centralized tools that can be used across regional marketing functions are expanding market growth after the pandemic.
North America Marketing Automation Software Market Trends
This section covers the major market trends shaping the North America Marketing Automation Software Market according to our research experts:
Increased Adoption of Automation Tools in the Retail Segment to Drive the Market's Growth
- The retail market in North America is undergoing significant change with internet access on various devices such as smartphones, tablets, and laptops. Consumer shopping habits are changing as a result of what they see online. Social media has an impact on product sales and brand image. Online shopping is becoming more popular in the region, with more and more retailers selling their products on the internet. Consumer behavior online and in stores is being tracked to generate massive amounts of data.
- Retailers adopt marketing automation software to cope with the rapid shift in consumer preferences and provide efficient services. Automated product recommendations are one of the significant revenue-boosting features in the marketing automation arsenal. Marketers can provide a consistent customer experience and build stronger customer relationships with marketing automation for the retail industry.
- It Improves average transaction value by cross-selling and upselling products, which is made possible by endorsing personalization in automated recommendations across all communication channels.
- According to Satcan, there were 7,342 convenience stores in Canada as of December last year. Almost 3,000 of them were in Ontario, Canada's most populated province, with one in Yukon Territory. With marketing automation in retail, users can ease retention, apply loyalty marketing strategies, and increase their customer lifetime value.
- The retail marketer can automate requests for feedback and reviews, launch unique campaigns for high-spending customers, and trigger consumer engagement and re-engagement campaigns when subscribers become distant. These tactics strengthen the marketer's rapport with their customers and increase their lifetime value.
United States is Expected to Hold Major Market Share
- The adoption of marketing automation software has been increasing in the region as there has been a shift to digital omnichannel marketing compared to traditional marketing. According to the CMO Survey by American Marketing Association and Duke University (n=356), last year, B2B product marketers in the United States suggested that their spending on traditional advertising was expected to decline by 0.61% in the following year, while the digital marketing spending was projected to increase by 14.32%.
- The region's growth in customer acquisition costs also pushes the need for marketing automation software. According to HubSpot North American Survey, over 60% of the marketers surveyed suggested that their customer acquisition costs have increased over the past three years. About 53.85% of the marketers surveyed in the region said they measure customer acquisition costs.
- The use of analytics for repetitive tasks such as email marketing and marketing technologies such as marketing automation software that helps efficient use and analysis of data collected during bulk email campaigns has become imperative for marketers. Vendors like SharpSpring offer email tracking and analytics features with their marketing automation platform. According to advertising age, digital revenue accounted for 64.2% of total advertising agency revenue in the United States last year.
- Personalization services are also becoming a vital driver for the market as they offer a high probability of return on investment. According to Instapage, a provider of personalized landing pages, 88% of US marketers reported seeing measurable improvements due to personalization.
North America Marketing Automation Software Industry Overview
The North American marketing automation software market is consolidated, with major players like HubSpot, Adobe Inc., Oracle Corporation, Salesforce, and Act-on Software, among others, holding a significant market share. The key players in the market leverage strategic collaborative initiatives to increase their market share.
- November 2022: HubSpot, a customer relationship management (CRM) platform for expanding businesses, and ClickUp, a productivity platform that brings work together in one place, announced a partnership to help customers develop more efficient workflows and collaborate more effectively across teams. Stakeholders throughout the customer lifecycle benefit from enhanced productivity by combining the strong capabilities of ClickUp and HubSpot. Whenever client teams move work ahead using HubSpot and ClickUp, hand-offs are done automatically and with all the necessary information. As a result, stakeholders can keep track of each stage of the client experience, from delivery to renewal.
- October 2022: Adobe announced new automation and collaboration features throughout Adobe Creative Cloud and the Adobe product portfolio, assisting small and mid-sized enterprises in modernizing workflows while embracing new creative and productivity frontiers. Adobe Creative Cloud and Adobe Document Cloud will be available to SMBs through new agreements with Mastercard, Etsy, and Meta.
North America Marketing Automation Software Market Leaders
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HubSpot
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Adobe Inc.
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Oracle Corporation
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Salesforce
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Act-on Software
*Disclaimer: Major Players sorted in no particular order
North America Marketing Automation Software Market News
- October 2022: DXC Technology, one of the leading global technology service providers, announced an expanded partnership with Dynatrace. The Dynatrace Software Intelligence Platform will be the preferred DXC Platform X software for observability and AI-powered automated management of a customer's IT estate. At the same time, the platform is always evolving to provide DXC clients with best-in-class solutions that meet their rapidly changing technological demands and assist them in becoming future-ready with the ability to accomplish their desired business outcomes.
- January 2022: Datarati, a marketing automation and CRM agency, has been acquired by OSF Digital. The acquisition of Datarati strengthens OSF Digital's position as a significant North American and global Salesforce multi-cloud solution supplier. OSF Digital is committed to expanding its ability to achieve digital transformations across the Salesforce Marketing, Experience, Sales, Service, and Commerce Clouds.
North America Marketing Automation Software Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
- 4.1 Market Overview
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4.2 Industry Attractiveness - Porter's Five Forces Analysis
- 4.2.1 Bargaining Power of Suppliers
- 4.2.2 Bargaining Power of Consumers
- 4.2.3 Threat of New Entrants
- 4.2.4 Threat of Substitute Products
- 4.2.5 Intensity of Competitive Rivalry
- 4.3 Assessment of the Impact of COVID-19 on the Market
5. MARKET DYNAMICS
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5.1 Market Drivers
- 5.1.1 Increasing Use of Social Media Platforms for Disseminating Information, Creating Brand Image, and Reaching Out to Followers
- 5.1.2 Increasing Adoption of Automation Tools in Retail Sector
- 5.1.3 Emergence of Large Numbers of Medium and Small Enterprises in Retail and E-commerce Sectors
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5.2 Market Restraints
- 5.2.1 Intense Competition in the Market
- 5.2.2 Security Concerns and Presence of Open-Source and Freemium Marketing Tools
6. MARKET SEGMENTATION
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6.1 By Deployment
- 6.1.1 On-premise
- 6.1.2 Cloud
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6.2 By Application
- 6.2.1 Campaign Management
- 6.2.2 Social Media Marketing
- 6.2.3 Digital Marketing
- 6.2.4 E-mail Marketing
- 6.2.5 Mobile Marketing
- 6.2.6 Inbound Marketing
- 6.2.7 Other Applications
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6.3 By End-user Industry
- 6.3.1 Government
- 6.3.2 Advertising
- 6.3.3 Media and Entertainment
- 6.3.4 Retail
- 6.3.5 Manufacturing
- 6.3.6 BFSI
- 6.3.7 Healthcare
- 6.3.8 Other End-user Industries
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6.4 By Geography
- 6.4.1 United States
- 6.4.2 Canada
- 6.4.3 Rest of North America
7. COMPETITIVE LANDSCAPE
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7.1 Company Profiles
- 7.1.1 HubSpot
- 7.1.2 Adobe Inc.
- 7.1.3 Oracle Corporation
- 7.1.4 Salesforce
- 7.1.5 Act-on Software
- 7.1.6 IBM Corporation
- *List Not Exhaustive
8. INVESTMENT ANALYSIS
9. FUTURE OF THE MARKET
North America Marketing Automation Software Industry Segmentation
Marketing automation refers to utilizing software to automate repetitive marketing tasks. Marketers employ this software to help nurture leads, usually through integrations with customer relationship management (CRM) and customer data platform (CDP) software. They also utilize these platforms to automate and personalize marketing messages and content.
The North American marketing automation software market is segmented by deployment (on-premise and cloud), by application (campaign management, social media marketing, digital marketing, e-mail marketing, mobile marketing, inbound marketing, and other applications), by end-user industry (government, advertising, media and entertainment, retail, manufacturing, BFSI, healthcare, and other end-user industries), and by geography (United States, Canada, and Rest of North America).
| By Deployment | On-premise |
| Cloud | |
| By Application | Campaign Management |
| Social Media Marketing | |
| Digital Marketing | |
| E-mail Marketing | |
| Mobile Marketing | |
| Inbound Marketing | |
| Other Applications | |
| By End-user Industry | Government |
| Advertising | |
| Media and Entertainment | |
| Retail | |
| Manufacturing | |
| BFSI | |
| Healthcare | |
| Other End-user Industries | |
| By Geography | United States |
| Canada | |
| Rest of North America |
North America Marketing Automation Software Market Research FAQs
What is the current North America Marketing Automation Software Market size?
The North America Marketing Automation Software Market is projected to register a CAGR of 12.80% during the forecast period (2024-2029)
Who are the key players in North America Marketing Automation Software Market?
HubSpot, Adobe Inc., Oracle Corporation, Salesforce and Act-on Software are the major companies operating in the North America Marketing Automation Software Market.
What years does this North America Marketing Automation Software Market cover?
The report covers the North America Marketing Automation Software Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the North America Marketing Automation Software Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
North America ing Automation Software Industry Report
Statistics for the 2023 North America ing Automation Software market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. North America ing Automation Software analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
