DUBLIN--(BUSINESS WIRE)--The "Marketing Resource Management (MRM) Market by Component (Solutions and Services), Deployment Type, Organization Size (SMEs and Large Enterprises), Industry Vertical (Consumer Goods and Retail, BFSI, and Manufacturing), Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global marketing resource management (MRM) market size is expected to grow from USD 2.9 billion in 2020 to USD 5.0 billion by 2025, at a CAGR of 11.8%.
Factors driving the market growth are benefits of modular suites with interconnected solutions and third-party integrations, need for ensuring brand and regulatory compliance, and the need for reducing cycle time projections through content deduplication and distribution. However, factors, such as lack of trust in new marketing technologies and the dilemma of choosing the right and comprehensive platform, are expected to pose challenges in the implementation of MRM solutions.
Cloud deployment type is expected to grow at a higher CAGR during the forecast period
Most of the organizations want access to ostensibly infinite resources with rising technology infusion and an increase in data, and hence, they are increasingly moving towards adopting cloud-based technologies. The cloud deployment model is mostly adopted by the organizations that want rapid implementation, reduced setup, and operational cost. Owing to this, many leading MRM solution providers, such as SAP, SAS, Aprimo, Workfront, and HCL Technologies, are focusing on improving their cloud portfolio, which is another factor that aids to the increase in the adoption of a cloud deployment model for MRM solutions.
Consumer goods and retail industry vertical to hold the highest share during the forecast period
Rising competition and dynamic consumer demands compel consumer goods and retail industry to improve their marketing strategies for enabling enhanced customer experience continuously. With this, organizations across the consumer goods and retail industry are increasingly deploying MRM solutions to improve the allocation of their marketing budgets, optimize vendor, partner, and marketing content management, and streamline the campaign execution and content localization. Furthermore, to adhere to various regulations prevailing in the industry and the need for improving customer and supplier experiences, are various other factors for the high adoption of MRM solutions among consumer goods and retail companies.
APAC to grow at the highest CAGR during the forecast period
The high growth of the market in the Asia Pacific (APAC) can be attributed to the high consumer spending and internet penetration, rising number of business processes, springing startups having limited IT budgets, and increasing adoption of cloud technologies. Furthermore, various global MRM solution providers, including Oracle, IBM, SAP, MRMcore, and Informatica, have their businesses in the region due to the region's low-cost benefits and high availability of the workforce, with which adoption of MRM solutions is expected to increase rapidly in future across the region.
- Benefits of Modular Suites With Interconnected Solutions and Third-Party Integrations
- Growing Need for Ensuring Brand and Regulatory Compliance
- Indispensable Requirements for Reducing the Cycle Time Projections Through Content Deduplication and Distribution
- Upfront Cost Associated With New Systems
- Scope of Expansion for Emerging Market Players Due to Divestiture of A Few Major Marketing Resource Management Businesses
- Emerging Technology Solutions Driven By Artificial Intelligence and Machine Learning to Deliver Sustainable Omnichannel Experience
- Lack of Trust On New Marketing Technologies
- Dilemma of Choosing the Right and Comprehensive Platform
- HCL Technologies
- Capital Id
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