North America Marketing Automation Software Market Size

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.