The global Marketing Resource Management market size is expected to be worth around US$ 6.91 billion by 2028, according to a new report by Vision Research Reports.
The global Marketing Resource Management market size was valued at US$ 3.21 billion in 2020 and is anticipated to grow at a CAGR of 11.8% during forecast period 2021 to 2028.
Growth Factors
Marketing Resource Management (MRM) is a cloud-based software that is widely used by organizations for effectively centralizing and managing their marketing operations. It enables organizations to unify brand compliance and marketing workflows and effectively track their Return on Investment (ROI).
Marketing Resource Management (MRM) is a technology used to efficiently handle workforce and associated technology and operations such as planning, production, and design of marketing processes. The emergence of MRM applications has helped businesses in their planning and budgeting activities. By using functionalities such as budgeting and planning, marketing divisions can effectively plan their budgets, define the expense types, and closeouts, among others.
The increasing need for ensuring brand and regulatory compliance is expected to propel the MRM market growth over the forecast period. Using MRM solutions, the marketing department can tackle potential threats and run a strategic program. Emerging technology solutions driven by machine learning and artificial intelligence to deliver sustainable omnichannel experience are expected to further create growth opportunities for the market players.
Report Highlights
The marketing asset management segment dominated the market in 2020 and accounted for more than 15.04% share of the global revenue. These solutions help enterprises in controlling brand and marketing assets from a centralized location so that they can be easily shared and searched. They help marketers in maintaining important digital assets. Furthermore, they also help enterprises in handling marketing assets such as presentations, e-mails, and documents.
The brand and advertisement management segment is anticipated to register the highest growth over the forecast period. The segment growth can be attributed to the increasing adoption of these solutions by global companies to increase the perceived value of a brand or product line over time. These solutions help companies in building a loyal customer base, eventually driving the company's profits. Furthermore, they enable brand managers to develop a strategic plan to gain brand value or maintain brand equity.
The consulting and implementation segment dominated the market in 2020 and accounted for more than 55.04% share of the global revenue. The segment growth can be attributed to the growing integration of MRM solutions in marketing business operations. Marketers are more focused on improving business processing speed, streamlining the customer experience, and offering faster results. Marketers need solutions that allow them to effectively manage all their marketing assets as efficiently and fast as possible to keep up with production. This is expected to drive the consulting and implementation segment growth over the forecast period.
The training, support, and maintenance segment is anticipated to register the highest growth over the forecast period. In the current business scenario, MRM solutions are more flexible. These solutions offer customization options to enterprises as per their business needs. Furthermore, these solutions include custom programming, which helps companies evolve with a constantly changing business environment. This is expected to create growth opportunities for the training, support, and maintenance segment over the forecast period.
The on-premise segment dominated the market in 2020 and accounted for more than 55.04% share of the global revenue. The adoption of on-premise solutions is high owing to various benefits associated with system configuration and customization options. The on-premise deployment of solutions empowers businesses by giving them ownership of their data. Furthermore, this deployment method allows businesses to manage and have complete control over their system integrations.
The cloud segment is expected to register the highest growth over the forecast period. The growth of the segment can be attributed to the increasing need to manage information in a secure, efficient, consolidated, and remotely accessible manner. The cloud software suites can be easily integrated with the existing systems. Cloud solutions allow businesses to personalize, manage, orchestrate, and optimize cross-channel campaigns across B2C and B2B use cases.
The large enterprise segment dominated the MRM market in 2020 and accounted for more than 56.04% share of the global revenue. The adoption of MRM solutions among large enterprises is significantly high as these solutions help large enterprises in effectively managing their extensive product portfolio and allocating marketing budgets. The increasing focus on customer experience is expected to further drive the adoption of MRM solutions in large enterprises. These aforementioned factors are expected to contribute to the growth of the large enterprise segment.
The small and medium enterprises segment is anticipated to register the highest growth over the forecast period. Small and medium enterprises are widely adopting MRM solutions as these solutions allow businesses to track and manage the marketing resources involved in the product life cycle. These solutions help businesses in combining content management systems with digital asset management systems and deliver personalized content to their users. These aforementioned factors are expected to contribute to the growth of the small and medium enterprises segment over the forecast period.
The manufacturing segment dominated the market in 2020 and accounted for more than 15.04% share of the global revenue. MRM solutions are widely used in the manufacturing industry to effectively store, search, and distribute digital assets. These solutions facilitate asset management and collaboration within and outside the organization. Furthermore, the manufacturing industry is witnessing a shift toward digital campaigns. This is creating growth opportunities for MRM solutions in the manufacturing industry.
North America dominated the marketing resource management market in 2020 and accounted for over 31.04% share of global revenue. The regional market growth can be attributed to the presence of prominent market players in the region. The increasing adoption of advanced technologies to effectively streamline workflows and reduce manual tasks among North American enterprises is expected to further drive the regional market growth. In North America, the increasing organizational demand for custom-made brand imaging is acting as a growth-inducing factor.
Key Players
Adobe
Aprimo US LLC
BrandMaker
HCL Technologies Limited
Infor, Inc.
Microsoft
Northplains
SAP SE
SAS Institute, Inc.
Workfront, Inc.
Market Segmentation
Solution Outlook
Brand & Advertising Management
Capacity Planning Management
Creative Production Management
Financial Management
Marketing Asset Management
Marketing Reporting & Analytics
Project Management
Others
Services Outlook
Consulting & Implementation
Training, Support, and Maintenance
Deployment Outlook
Cloud
On-premise
Enterprise Size Outlook
Large Enterprises
Small & Medium Enterprises
End-use Outlook
BFSI
Consumer Goods & Retail
Healthcare
IT & Telecom
Manufacturing
Media & Entertainment
Travel & Hospitality
Others
Regional Outlook
North America
U.S.
Canada
Europe
Germany
U.K.
Asia Pacific
China
India
Japan
Latin America
Brazil
Middle East & Africa
The Marketing Resource Management market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Marketing Resource Management market for the base year 2020 and the forecast between 2021 and 2028. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Marketing Resource Management market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Marketing Resource Management market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Marketing Resource Management market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Marketing Resource Management capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Marketing Resource Management by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Marketing Resource Management market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2028. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Marketing Resource Management market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Marketing Resource Management market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Marketing Resource Management industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Marketing Resource Management market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Marketing Resource Management market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Marketing Resource Management market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Marketing Resource Management market. These factors have benefited the growth of the global market for Marketing Resource Management. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Marketing Resource Management. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Marketing Resource Management are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
Research Methodology:
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
Primary Sources
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers