Marketing Resource Management Market with COVID-19 Impact Analysis by Component, Deployment Type, Organization Size, Industry Vertical and Region – Global Forecast to 2026 – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Marketing Resource Management Market with COVID-19 Impact Analysis by Component (Solutions and Services), Deployment Type, Organization Size, Industry Vertical (Consumer Goods and Retail, BFSI, and Manufacturing), Region – Global Forecast to 2026” report has been added to ResearchAndMarkets.com’s offering.

The MRM market size is expected to grow from USD 3.2 billion in 2021 to USD 5.5 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 10.9% during the forecast period.

Adoption of performance management solutions is noticeably increasing in among large enterprises due to the increased need to enhance marketing performance

The planning and budget management solution helps establish marketing objectives and align investments with the strategies. While enabling the management of budgets, marketing spends, and vendors, the solutions also help marketers assess the impact of marketing plans and maximize RoI. Companies are increasingly investing in solutions to scale their marketing with a real-time view of the entire marketing spend. Moreover, MRM solutions enable users to plan and track financial resources and establish a structured approval process.

Growing trend of expanding business operations while working within the existing infrastructure to drive the consulting and implementation services

Consulting and implementation are professional services practice for enterprise infrastructure that involves advising customers for managing organization’s IT infrastructure and improving infrastructure performance, including security and workflow processes. They also help them implement a solution. Before implementing a required solution, business needs must be assessed and understood thoroughly to ensure hassle-free and proper deployment and integration of MRM solutions. MRM vendors offer consulting services to users that have limited awareness related to the market and how to adopt the solutions depending upon their business. The implementation service helps users to manage the implementation and site going forward and helps their team to assist via virtual meetings and handling questions, and helps to manage decisions that are best for their teams.

Increased awareness related to cloud benefits among small enterprises is driving its adoption

Small enterprises have an overall revenue of fewer than 100 million dollars. Being new to the market, they have restricted budgets for marketing, recruitment, and sales activities; but they need to create their presence in the market, for which they are adopting MRM solutions. Small enterprises have a low market share compared to medium-sized and large enterprises but are trying their best to sustain it. These MRM solutions help businesses combine content management systems with digital asset management systems and deliver personalized content to their users. These factors are expected to contribute to the growth of the small enterprises segment over the forecast period. Though small enterprises have started adopting cloud-based MRM solutions, it is expected to be expensive due to the high implementation cost. The changing customer behavior, such as increased consumption of the Internet at a reduced cost, is also a challenging task for small enterprises.

North America to dominate the MRM market in 2021

North America is one of the most technologically advanced regions in the world. It comprises the US and Canada and accounts for the largest share of the global MRM market due to the early adoption of the by the US markets. The presence of major key players that are making heavy investments in R&D development to develop advanced solutions to manage various marketing related operations and resources, early adoption of technology, organizations focusing on marketing campaigns and activities to promote the increase in the market reach, and the presence of a large number of MRM vendors are adding to the global MRM market growth in the region.

Market Dynamics

Drivers

• COVID-19 Pandemic Boosting the Adoption of Marketing and Branding Software Among Several Verticals
• Benefits of Modular Suites with Interconnected Solutions and Third-Party Integrations
• Growing Need for Ensuring Brand and Regulatory Compliance
• Indispensable Requirements for Reducing the Cycle Time Projections Through Content Deduplication and Distribution

Restraints

• Upfront Cost Associated with New Systems
• Persistent Growth in Cyber-Attacks and Security Issues

Opportunities

• Scope of Expansion for Emerging Market Players Due to Divestiture of Major Marketing Resource Management Businesses
• Integration of Artificial Intelligence and Machine Learning Technologies

Challenges

• Growing Cultural Barriers to Adopt Advanced Solutions Over Traditional Systems
• Dilemma of Choosing the Right, Comprehensive Platform

Companies Mentioned

• Admation
• Adobe
• Allocadia
• Aprimo
• Brandmaker
• BrandMaster
• Bynder
• Capital ID
• Central De Marca
• Contentserv
• Dreamdata
• HCL Technologies
• Hive9
• IBM
• Infor
• inMotionNow
• IntelligenceBank
• Marcom Central
• Marvia
• MRMCentral
• myBrand
• Optimatica
• Oracle
• Plannuh
• Resolut
• SAP
• SAS
• Seismic
• SharpSpring
• Shopperations
• Simple
• Sitecore
• Smartsheet
• TapClicks
• Wedia
• Welcome
• Widen
• Wrike

For more information about this report visit https://www.researchandmarkets.com/r/aw0wxn

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