USD 3.19 billion
Marketing Resource Management Market Size, Share, Growth Analysis, By Component(Software, Services), By Deployment Mode(Cloud-based, On-premises), By Organization size(Small and medium-sized enterprises (SMEs), Large enterprises), By End-user(Retail, BFSI, healthcare, IT and telecom), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35A2788 |
Region:
Global |
Published Date: February, 2024
Pages:
219
|Tables:
116
|Figures:
77
Marketing Resource Management Market Insights
Marketing Resource Management Market size was valued at USD 6.59 billion in 2023 and is poised to grow from USD 7.36 billion in 2024 to USD 15.97 billion by 2032, at a CAGR of 10.17% during the forecast period (2024-2032).
Globally, Over the projected period, the worldwide Marketing Resource Management market is predicted to increase significantly. The growing requirement among organizations to maintain brand and regulatory compliance can be related to market expansion. The growing requirement to reduce cycle time forecasts through content distribution and duplication is expected to drive demand for marketing resource management systems even further. Furthermore, the increased diversity of distribution methods has aided market expansion. Businesses may use Marketing Resource Management (MRM) technologies to simplify their marketing processes. Among these activities are brand management, personnel management, financial management, and content management. MRM solutions, which use a combination of Artificial Intelligence (AI) and Machine Learning (ML) technology, enable marketers to take total control of marketing efforts and responsibilities. Marketers are increasingly focused on more complex marketing processes, which is driving demand for MRM solutions in a variety of end-use sectors.
MRM solutions are made up of software and technology that aid in the coordination of marketing processes, workforces, and assets. These solutions are frequently used by businesses for a variety of purposes, including performance management, knowledge management, and strategic planning. Enterprise technological developments, together with worldwide shifts in consumer behaviour, are projected to fuel demand for MRM solutions throughout the projection period. Furthermore, rising consumer desire for digital marketing experiences is likely to drive market expansion.
Market Snapshot - 2024-2032
Global Market Size
Largest Segment
Software
Fastest Growth
Software
Growth Rate
17.50% CAGR
Global Marketing Resource Management Market 2022-2030 ($ Bn)
Country Share for North America Region- 2022 (%)
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Marketing Resource Management Market Segmental Analysis
The global MRM market can be segmented based on component, deployment mode, organization size, and end-use industry. By component, the market can be categorized into software and services. Based on deployment mode, the market can be segmented into cloud-based and on-premises. In terms of organization size, the market can be divided into small and medium-sized enterprises (SMEs) and large enterprises. The end-use industries for MRM include retail, BFSI, healthcare, IT and telecom, manufacturing, and others. Based on region, the market is segmented into North America, Latin America, Europe, and MEA.
Marketing Resource Management Market Analysis by Component
The market is segmented into software and services. The software segment holds a significant market share due to the increasing demand for MRM software solutions. MRM software offers features such as campaign management, digital asset management, project management, and workflow automation, enabling organizations to streamline their marketing operations effectively. The software segment is further categorized into on-premises and cloud-based solutions. Cloud-based MRM software solutions are gaining popularity due to their flexibility, scalability, and cost-effectiveness.
Marketing Resource Management Market Analysis by End-user
The market is segmented based on end-use industries, including retail, BFSI, healthcare, IT and telecom, manufacturing, and others. The retail industry is a major consumer of MRM solutions, as retailers require effective marketing campaigns, seamless coordination of promotions, and efficient management of digital assets. The BFSI sector is also adopting MRM solutions to streamline their marketing operations and ensure compliance with regulatory requirements. Other industries, such as healthcare, IT and telecom, and manufacturing, are recognizing the value of MRM in optimizing their marketing activities and achieving better business outcomes..
Global Marketing Resource Management Market By Type, 2022 (%)
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Marketing Resource Management Market Regional Insights
North America is the largest market region for marketing resource management (MRM) solutions. The region has a well-established marketing ecosystem and is home to several major players in the MRM market. Factors contributing to the region's dominance include high levels of digitalization, advanced marketing technologies, and the presence of a large number of enterprises across various industries. North American organizations have been early adopters of MRM solutions, recognizing their potential to optimize marketing operations and drive better business outcomes. The United States, in particular, holds a significant market share in North America. The country has a highly developed marketing landscape and is witnessing increased investments in marketing technologies. The presence of leading MRM solution providers and a strong focus on marketing efficiency and effectiveness further contribute to the region's market dominance.
The Asia Pacific region is the fastest growing region in the global marketing resource management market. The region is experiencing rapid digital transformation and increased adoption of marketing technologies. Emerging economies such as China, India, and Southeast Asian countries are witnessing significant growth in digital marketing and e-commerce, driving the demand for MRM solutions. The increasing internet penetration, rising smartphone usage, and the growing popularity of social media platforms are fueling the demand for MRM solutions in the Asia Pacific region. Organizations are realizing the importance of optimizing their marketing operations to effectively reach and engage the expanding digital consumer base. Additionally, the region's dynamic retail sector, burgeoning e-commerce market, and the growing focus on personalized marketing strategies are driving the adoption of MRM solutions.
Global Marketing Resource Management Market By Geography, 2022-2030
- Largest
- Fastest
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Marketing Resource Management Market Dynamics
Marketing Resource Management Market Drivers
Increasing Need for Improved Marketing Efficiency to Bolster market growth
- Organizations across industries are recognizing the importance of optimizing their marketing operations to achieve better efficiency and effectiveness. Marketing resource management (MRM) solutions provide automated workflows, centralized asset management, and streamlined processes, enabling companies to eliminate manual tasks, reduce redundancies, and improve overall marketing efficiency.
- Integrated marketing approaches are gaining prominence as businesses aim to create consistent and personalized experiences across various marketing channels. MRM solutions offer comprehensive capabilities, including campaign management, digital asset management, budgeting, and analytics, allowing organizations to integrate their marketing efforts seamlessly and deliver cohesive brand messages.
Marketing Resource Management Market Restraints
Data Security Concerns to Hinder market growth
- With the increasing reliance on digital platforms and the collection of vast amounts of customer data, data security has become a major concern for organizations. Storing and managing sensitive customer information within MRM systems requires robust security measures to protect against data breaches and unauthorized access. Organizations may hesitate to adopt MRM solutions due to concerns about data privacy and security risks.
- Integrating MRM solutions with existing marketing technologies and systems can be a complex process. Organizations may face challenges in seamlessly integrating MRM platforms with customer relationship management (CRM) systems, content management systems (CMS), and other marketing tools. This integration complexity can hinder the adoption and implementation of MRM solutions, particularly for organizations with diverse and complex marketing technology ecosystems.
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Marketing Resource Management Market Competitive Landscape
The Global Marketing Resource Management Market is highly competitive, with several players vying for a significant market share. The leading companies in the industrial, information technology, consumer safety, consumer services, and hospitality market are investing heavily in research and development to stay ahead of the competition and offer innovative solutions to their customers. Some of the major players in the market have a global presence. They are also focused on expanding their product portfolio and enhancing their distribution networks to better serve their customers.
Marketing Resource Management Market Top Player’s Company Profiles
- SAS Institute Inc. (United States)
- IBM Corporation (United States)
- Oracle Corporation (United States)
- Infor Inc. (United States)
- Teradata Corporation (United States)
- Workfront, Inc. (United States)
- Widen Enterprises, Inc. (United States)
- BrandMaker GmbH (Germany)
- MarcomCentral (United States)
- Capital ID (Netherlands)
- Allocadia Software Inc. (Canada)
- Brandfolder, Inc. (United States)
- Bynder (Netherlands)
- IntelligenceBank (Australia)
- Percolate (United States)
- HCL Technologies Ltd. (India)
- Elateral Holdings Ltd. (United Kingdom)
- Code Worldwide (United Kingdom)
Marketing Resource Management Market Recent Developments
- In May 2023 – Aprimo, an industry-leading provider of digital asset management and marketing resource management solutions, announced their partnership to create a market-first solution that is set to optimize the entire content lifecycle for the highly regulated pharmaceutical industry. AI’s AI-powered marketing solutions for regulated industries, pharmaceutical companies can now create, manage and deliver compliant content faster and more efficiently.
- In August 2022 – Optimizely, the leading digital experience platform (DXP) provider, announced it was named a Strong Performer in The Forrester WaveTM: Marketing Resource Management, Q3. They Welcome’s legacy in content marketing and editorial shines through in its ample content and people management offerings.
Key Marketing Resource Management Key Market Trends
- AI and ML are revolutionizing various industries, including marketing, by enabling automation, advanced analytics, and personalized customer experiences. In the MRM space, the integration of AI and ML technologies is driving significant transformations and offering new opportunities for businesses. AI and ML-powered MRM solutions provide enhanced capabilities for data analysis, predictive modeling, and intelligent automation. These technologies can analyze vast amounts of data to extract valuable insights, identify patterns, and make data-driven decisions. With AI and ML, organizations can optimize their marketing campaigns, target audiences more accurately, and personalize marketing content and messages. The integration of AI and ML technologies in MRM is empowering marketers to drive data-centric strategies, improve decision-making, automate processes, and deliver personalized experiences.
Marketing Resource Management Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our analyses, Marketing Resource Management (MRM) plays a pivotal role in helping organizations streamline and optimize their marketing operations. As businesses continue to recognize the importance of efficient marketing processes and the need for integrated solutions, the MRM market is poised for significant growth. This report provides an overview of the future scopes, the most popular driver, and the anticipated growth of the MRM market in the coming years. One of the most popular drivers propelling the growth of the MRM market is the increasing need for improved marketing efficiency. Organizations across industries are recognizing the importance of optimizing their marketing operations to achieve better results. MRM solutions provide the necessary tools and functionalities to automate workflows, centralized asset management, and streamline processes. By eliminating manual tasks, reducing redundancies, and enhancing collaboration, MRM solutions enable businesses to operate more efficiently, allocate resources effectively, and achieve greater ROI on marketing investments. The demand for MRM solutions is driven by the desire to enhance productivity, maximize marketing effectiveness, and gain a competitive edge in the market. the future of the marketing resource management (MRM) market holds immense potential. With increasing adoption across industries, the popularity of MRM is driven by the need for improved marketing efficiency. The integration of AI and automation, focus on customer experience, expansion of mobile solutions, and advancements in technology will shape the future of MRM.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 6.59 billion |
| Market size value in 2032 | USD 15.97 billion |
| Growth Rate | 10.17% |
| Base year | 2023 |
| Forecast period | 2024-2032 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Marketing Resource Management Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Marketing Resource Management Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Marketing Resource Management Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Marketing Resource Management Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Marketing Resource Management Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Marketing Resource Management Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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