Marketers in the Asia-Pacific (APAC) region are leveraging the increasing penetration of social media to build their customer base effectively. Social media platforms allow market executives to track the interactions with prospective customers that are linked to offers and campaigns, to gather feedback and use the insights gained to improve the campaign. This surge in digital marketing activities has increased the demand for automation tools in the region. Due to this reason, the Asia-Pacific marketing automation software market is expected to witness an increase in its size from $2.9 billion in 2017 to $7.0 billion by 2023, at a healthy CAGR of 15.1% between 2018 and 2023.
Marketing automation allows for the management of a large volume of social media statistics and data related to the customer base. This has led to the increasing awareness among regional businesses about data management platforms (DMPs) including Salesforce DMP, Lotame, and Oracle DMP. These DMPs assist marketers and advertisers in sorting and storing information, collecting, analyzing, and classifying data, and advertising network integration. Additionally, DMPs offer a base to the marketers for providing responsive and scalable workflows and database functions that enable solutions to be leaner and optimized. This further allows companies to monitor and capture the data on potential leads.
Several vendors are venturing into the Asia-Pacific marketing automation software market due to the easy access for them and declining cost of marketing automation software. Companies offering such market tools in the region include Teradata Corporation, Oracle Corporation, SAS Institute Inc., Act-On-Software Inc., IBM Corporation, Salesforce.com Inc., Adobe Systems Incorporated, HubSpot Inc., SharpSpring Inc., and Infusionsoft Inc. They are adopting growth strategies such as product launches, partnerships, and acquisitions to gain a competitive edge over each other and widen their customer base.
In the region, marketing automation software is widely used in the banking, financial services, and insurance (BFSI) and e-commerce industries. In the BFSI sector, marketing executives are adopting this software to attract customers by spreading awareness among them about their protocols, benefits, and schemes. Marketing executives working with financial companies also use the software to target potential customers and simplify marketing complexities. Similarly, e-commerce companies leverage these platforms for generating leads and running advertisements. The booming e-commerce sector in India and China is increasing the demand for the software in the region.
Further, the solution segment of the Asia-Pacific marketing automation software market is categorized into marketing resource management, cross channel campaign management (CCCM), real-time interaction management, content marketing platform (CMP), lead-to-revenue management (L2RM), and through-channel marketing automation (TCMA). Amongst these, the CCCM category accounted for the largest market share in 2017 due to the increasing demand by enterprises for a technology that assists them in analytics and customer data management and with workflow tools for executing, designing, and measuring the performance of campaigns on offline and digital channels.
Most of the marketing automation tools are being deployed on the cloud due to the increasing awareness about the advantages of this technology. In comparison to on-premises deployment, the cloud technology offers benefits such as increased speed, scalability, storage, and convenience. Both small and large businesses are adopting cloud-based marketing automation solutions to improve productivity, increase profits, and enhance security at an affordable price. This is why even most of the investments in new software tools are being poured for those deployable on the cloud.
Thus, the growing preference for social media and digital marketing is generating a high demand for marketing automation tools in APAC countries.
