Europe Marketing Automation Software Market Size

Europe Marketing Automation Software Market Analysis

The Europe marketing automation software market is expected to register a CAGR of 14.2% during the forecast period.

• Marketing automation is software that exists intending to automate marketing actions. To increase the alignment between marketing and sales, it is a platform where dealers may handle a variety of marketing communications. Dealers can generate qualified leads and drive multi-touch marketing communications through platforms like HubSpot, Eloqua, and Marketo.
• Most European B2B marketers using automated marketing platforms stated they must use them to their full potential. The vendors are focusing on a couple of their software platform offerings with marketing services to provide customized services, strengthening the Marketing as a Service (MaaS) concept among the region's business circles. The growing marketplace and the increasing number of marketing channels are also boosting companies to explore new markets by increasing their businesses' reach, which drives the growth in marketing and pushes companies to deploy automation to streamline the process.
• The growing adoption of digital marketing, SaaS cloud services, increasing demand for data integration services, and expanding 5G network coverage are some of the significant factors that the market studied is estimated to have a massive scope in the region. The market is expected to grow significantly over the forecast period due to increased marketing investment by most regional end-user verticals and an ever-growing social media penetration making the region a lucrative hub for the studied market.
• New marketing automation technologies have emerged to help B2C marketers manage customer engagement. B2B marketers manage leads, and marketers of both types manage other marketing processes, such as campaigns and digital asset management (DAM). Many new marketing automation projects were standalone implementations with little integration into back-office systems. A recent survey by the Royal Mail Market Reach of 200 CMOs in the United Kingdom's Marketing Directors and Heads of Marketing of companies having more than 250 employees revealed that 80% had already installed a marketing automation solution.
• The rise in demand to integrate marketing efforts that include building awareness, customer communication, content scheduling, social media management, lead nurturing, positioning, supporting, and customer evaluation drives the need for Marketing Automation solutions. Automation aims to increase efficiency while optimizing the organization's resources, time, and cost. The advent of artificial intelligence (AI) and machine learning (ML) has further propelled the growth of predictive personalization, which is expected to be the most prolific advantage of utilizing marketing automation over the forecast period.
• The need for more skilled professionals to instruct consumers on how to make the most of analytics solutions and use them for helpful information and insights in the region due to the introduction of automation solutions could restrain the market growth. However, considering the need for digital transformation, there is a demand for software development services in Europe, as every company needs a software service. Outsourcing the service creates a demand for Automation software services and could overcome the restraining factor.
• The COVID-19 outbreak negatively impacted the market. However, there was a slight decrease in demand for Automation software services. During the pandemic, many marketing companies adopted a play-it-safe approach by reducing their marketing expenses so that the impact was less on their businesses, and they had to wait for the economic scenario to improve. According to a Hubspot survey, many enterprises reduced their marketing budgets by between 1% and 25%. Additionally, many physical stores were forced to close during the pandemic and switch to online sales and marketing, which boosted e-commerce and increased the need for Marketing Automation Software services. This trend continues to grow post-pandemic owing to the increasing demand for online services and smartphone penetration.