Multichannel Campaign Management Market Size

Multichannel Campaign Management Market Analysis

The Multichannel Campaign Management Market is expected to grow at a CAGR of 23.7% over the forecast period 2021 to 2026. To engage customers, foster customer loyalty, and compete in today's world of social commerce, brands need to adopt cross-channel campaign management solutions that unify customer data from various channels to deliver the right message at the right time the appropriate medium.

• An increment in data transfer through plenty of channels including mobile & smartphones, emails, and websites, among others is driving the demand for a multichannel campaign management market, as Cisco Systems Inc., states that by 2022, mobile data traffic is expected to reach 77.5 exabytes per month globally at a compound annual growth rate of 46%, thus fueling the market growth.
• Besides, a high degree of competition in the digital marketing industry restrains the growth of the global Multichannel Campaign Management market. Customer-centric solutions followed by proximity marketing act as opportunity factors in the growth of the global Multichannel Campaign Management market (MCCM).
• According to FICCI, the digital advertising industry across India had a market size of around INR 160 billion in the financial year 2019, up from just INR 47 billion in 2015. This was projected to go up to around INR 539 billion by the fiscal year 2024, indicating a significant growth in the industry segment, consequently the multichannel campaign management market is expected to get a boost.
• Companies like Teradata are helping large B2C organizations seeking MCCM with strength in marketing resource management and data-driven marketing to support brand engagement. As a vendor, Teradata made waves with acquisitions, bringing in capabilities such as social monitoring and control, Facebook social advertising (Argyle Social), and mobile engagement (Appoxee).
• According to EnsembleIQ, as of 2019, roughly half of consumers in the United States have experienced order online and pick up in-store services from mass merchandisers. Just under 20% of U.S. consumers experienced the same service from grocery stores.
• Other factors supporting the growth of the multichannel campaign management market include the increasing trend of mobile marketing through smartphones, tablets, and handheld devices, network, and communication advancements, changing trends in digital marketing, etc. According to PubMatic, Inc., in 2019, the US spending on mobile advertising spending was the largest amounting to USD 72.5 billion against USD 61.3 billion in 2018.
• Changing dynamics of advertisement channels, adoption of stringent regulations for mobile marketing by an increasing number of countries, the technological complexity involved in terms of compatibility, etc. are some of the restraints affecting the demand for multichannel campaign management tools and applications.