Marketing software gains ground

New Ideas in MarketingEssential news for marketers, summarised by YouGov
April 16, 2021, 3:34 PM UTC

Reports and Data expect the global Digital Marketing Software (DMS) market to reach $136.54 billion by 2026.

Brands’ increasing need to understand consumer needs and market trends would vastly contribute to this notable market growth of the DMS sector. The study suggests the extensive adoption of smartphones and the rising popularity of the internet and social media would further amplify the market growth in the future.

In 2018, interactive systems accounted for the largest market share (36%) of the DMS sector. Interactive systems are increasingly gaining traction among marketers as they focus more on consumer-centric marketing.

With the growing use of digital marketing tools, including AI, the services segment is expected to see a growth rate of 15.7% during the forecast period. During the same period, the media and entertainment industry is anticipated to witness the highest CAGR of 16.4%, attributed to the rising use ecommerce and social media.

Read the original article

[5 minute read]