Marketing resource management solutions support marketing operations of enterprises by balancing logistics, creative, technical and operational processes. Deployment of marketing resource management tools is aimed at executing marketing functions and activities efficiently. Traditionally, marketing resource management involved integration of a standalone software to complement project management, content management, resource measurement, media planning and execution, strategic budgeting, creative development, and event coordination in an enterprise. The conventional technology was aimed at supporting the core needs of large scale brand management. Today, solution providers are deploying marketing resource management platforms that include conventional features integrated with additional technologies and tools required to manage modern marketing resources like Software-as-a-Service (SaaS) applications and cloud services.
Impact of Ongoing COVID-19 Pandemic on Marketing Resource Management Market
Small and Medium-sized Enterprises (SMEs) and start-ups have accelerated the adoption of marketing resource management solutions, while the adoption trend among large enterprises has stagnated. The rise in demand for marketing resource management solutions among SMEs and start-ups may be attributed to the fact that these procurers are striving to enhance their marketing and advertising capabilities to attract potential customers during the ongoing COVID-19 pandemic. End-users operating in healthcare, life science, biotechnology and pharmaceutical industries are strategically shortlisting solutions that could help them lower expenditure, while enhancing their attractiveness in the market.
Marketing Resource Management: Market Drivers
A high demand for hyper-focused marketing resource management platforms is emanating from large enterprises for use over a single multi-functional technology like cloud computing. Availability of such advanced marketing resource management solutions is boosting market growth. Incorporation of digital asset management tools helps streamline and centralize the management of an enterprise’s digital assets. This eliminates the requirement of monitoring the enterprise’s valuable assets across a profusion of repositories. This is another factor driving the adoption of marketing resource management solutions.
Online marketing resource management portals and advanced variants make coordination and multi-tasking easier across the enterprise. Every employee can access their marketing requirements online, thus saving time and operational resources. This enhances operational productivity, which is the primary concern of every business. This is estimated to be one of the key factors contributing to the attractiveness of marketing resource management solutions.
Marketing Resource Management Market: Segmentation
The global marketing resource management market can been segmented on the basis of component and end-user.
With respect to component, the global Marketing Resource Management market may be segmented into:
With regards to end-user, the global marketing resource management market may be segmented into the following:
Marketing Resource Management Market: Competition Landscape
Some of the leading marketing resource management solutions are Adobe Campaign, Unica, Allocadia, Percolate, Deltek TrafficLIVE, Aprimo, MarcomCentral, Widen Collective, Frontify, Microsoft Dynamics 365 Marketing, SAS Marketing Ops, and Hive9, among others.
Following are some key strategies incorporated by solution providers operating in the global marketing resource management market:
Marketing Resource Management Market: Regional overview
Currently, the marketing resource management market in North America leads the global market, owing to high presence of companies operating in the marketing resource management market. The regional market is estimated to continue dominating the global marketing resource management market throughout the forecast period. Marketing resource management market in South Asia and Pacific region is estimated to record the fastest growth rate, among all the regional markets. The strong growth rate may be attributed to the high demand for enterprise process automation solutions in the region.
The Marketing Resource Management market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with market attractiveness as per segment. The market report also maps the qualitative impact of various market factors on market segments and geographies.
The report covers exhaustive analysis on:
Regional analysis includes: