Acumen: May see a Big Move in Marketing Resource Management (MRM) Market 2020
Pune, Maharashtra,India, November 9 2020 (Wiredrelease) Origius Systems Private Limited –:The outbreak of COVID-19 is expected impact the global marketing resource management (MRM) market in the positive direction. During the pandemic period, most of the marketing enterprises have been quickly applying the artificial intelligence (AI) and machine learning (ML) technologies in the areas like strategic planning & budgeting, project management, media planning & execution and marketing analytics. These innovative solutions driven by AI and ML provides several benefits such as real-time conversations with customers, digital advertising & promoting campaigns and sales forecasting. These factors are expected to drive the AL and ML technologies in the MRM systems, which will boost the market growth in the crisis period.
In addition, many governments are focusing on several activities to help the businesses in the novel coronavirus time. For instance, Germany government has announced future technology investment package around $56 billion in the areas like artificial intelligence, hydrogen economy and quantum technologies. Also, the governments of Singapore and Germany have confirmed the cooperation to help the start-ups and taken measures to support enterprises with their continuous alliances in promoting advancements & innovations in R&D activities and entrepreneurship through global innovation alliance partnership.
During this unexpected situation, we are providing our clients in understanding the impact of COVID19 on the marketing resource management market.
According to new report published by Research Dive, the global marketing resource management (MRM) market is expected to register a revenue of $6.1 billion till the end of 2027 and is expected to rise at a notable rate during the projected years from 2019 to 2027.
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The global market classification has been done based on solution, end customer, deployment, industries and region. This report offers complete overview about drivers, opportunities, restraints, segmental analysis and significant participants in the global market.
Factors affecting the market growth
As per our analysts, increasing demand for MRM systems due to rising necessity of ensuring regulatory compliance along with increasing importance for minimizing the time cycle for work allotment are expected to drive the market growth in the forecast years. However, high investments are required for the new MRM systems is estimated to hamper the market growth in the projected timeframe.
Marketing analytics and large enterprises segments are accounted for prominent market share in the previous years
By solution, the global market has been categorized into financial management, project management, marketing analytics, marketing asset management, capacity planning management, brand and advertising management and others. Among these, marketing analytics segment is expected to have dominating revenue share and is expected to continue its growth in the coming years. The wide usage of MRM systems for marketing analytics solution due to these systems provides detailed companies information in quantitative & qualitative forms and plays crucial role in the decision making processes. This factor will accelerate the market growth in the forecast time.
By end customer, the global market is classified into SME and large enterprise. In both of these, large enterprise segment registered for significant marketing resource management market share in the previous years and is projected to continue its dominance with healthy rate in the estimated time. Large enterprises contains huge number resources, to manage complex workflows and integration of developed technologies are contributing implementation of MRM system, which will accelerate the market growth throughout the estimated period.
Cloud deployment and retail industries segments are projected to have most profitable in the coming years
Based on deployment, the global market is segmented into on-premise and cloud. In both of these, the global market has dominated by on-premise deployment in the previous years and is expected to grow at a moderate rate during the forecast years. Besides on-premise, cloud deployment segment will experience a remarkable growth and is projected to generate highest revenue in the coming years. Growing adoption of cloud services due to minimal capital expenses are required, offers unlimited data storage and customize based on organization requirements, this factor will drive demand for cloud services in the coming years.
Based on industries, the global market is segmented into BFSI, information technology, media & entertainment, healthcare, retail, automotive and others. In these, retail industry is expected to experience a noteworthy growth in the MRM market during the forecast years. Growing adoption of MRM systems by most of the retailers due to maintain real-time business along with brand compliance, this factor is expected to drive market growth in the coming years.
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Marketing resource management (MRM) market, Regional overview
North America region registered for majority of the marketing resource management (MRM) market share in 2019 and is projected to remain its dominance in the global market throughout the estimate period. Extensive application of MRM systems by the most of the enterprises across the North America region due to these systems can minimize unnecessary work and support the employees to focus of the main tasks, this factor is projected to drive the market size in the forecast years. Also, Asia-Pacific region is anticipated to experience a remarkable growth and is projected to create ample investment opportunities in the coming years. Growing utilization of MRM services by the several large organizations to maintain the work allotments and progress, this factor is estimated to drive the market growth in the coming years.
Significant market players in the global protein expression market
The significant players in the global marketing resource management (MRM) market includes Aprimo US LLC, SAP, BrandMaker, Allocadia Software Inc., Adobe, Oracle, Workfront, Inc., HCL Technologies Limited, Percolate Industries, Inc. and SAS Institute Inc.
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Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.
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