Marketing Resource Management Market Size, Share & Industry Analysis, By Component (Solution, Services), By Deployment Mode (Cloud, On-premises), By Organization Size (Large Enterprises, Small and Medium-sized Enterprises (SMEs)), By Vertical (BFSI, Consumer Goods and Retail, Healthcare and Life Sciences, Telecom and IT) And Regional Forecast, 2024-2032

Marketing resource management (MRM) term is referred to combination of software and technology solution that supports marketing operations. Marketing resource management software solution is designed for project management, strategic planning and budgeting, event co-ordination, content management, media planning and execution, creative development and distribution, and resource measurement. MRM is significantly used in various industry verticals to enhance their marketing activities and increase business revenue. Adoption of marketing resource management solution in an enterprise seamlessly manage marketing projects, online brand guidelines, and digital assets in one platform which is propelling the growth of the market.

Marketing resource management is used by companies and organizations of all sizes to enhance efficiency, optimize resources, reduce costs by automating and in-lining daily operations. MRM solution allows organizations to co-ordinate marketing activities with the help of comprehensive tool for resource management, digital asset management, budget and cost tracking is expected to fuel the demand for marketing resource management system in enterprises. Moreover, multiple players are engaged in development of technologically advanced and innovative marketing resource management system by combining multiple data management technologies in a single platform for controlling the total product experience and make MRM process seamless, faster, and accurate.

The covid-19 had unprecedented impact on the enterprises, healthcare, and IT sector. Rising adoption of marketing resource management solution, as enterprises have started to increase their spending on marketing due to covid-19 pandemic, which is expected to boost the demand for MRM solution. During pandemic, marketing resource management solution is significantly used across the industries such as BFSI, healthcare, manufacturing, consumer goods, education among others for streamlining of people and process, as adoption of Work-From-Home (WFH) policy has become a priority for businesses worldwide. which is anticipated to bolster the demand for marketing resource management solution.

Key Market Driver -

• Increasing need for ensuring brand and regulatory compliance is likely to boost the growth of marketing resource management market. • Adoption of cloud-based MRM services are expected to fuel the demand for the market.

Key Market Restraint -

• Increase in number of cyber-attacks and security issues to restrict the market growth.

KEY PLAYERS COVERED:

Key players in marketing resource management market includes Allocadia Software Inc., Adobe, Admation, Aprimo US LLC, Bynder, BrandMaker, BrandMaster, Central De Marca, Dreamdata, HCL Technologies, IBM Corporation, Infor, inMotionNow, Inc., MarcomCentral, Marvia, IntelligenceBank, Hive9, Oracle Corporation, Optimatica, Plannuh, SAP SE, SAS Institute Inc., SharpSpring, Shopperations, Seismic, Smartsheet Inc., Simple, Sitecore, Contentserv Group AG, TapClicks, Wedia, Welcome, Widen, Wrike, Inc.

Key players in the market like Oracle Corporation, Adobe, Infor, Microsoft Corporation etc.  are entering into strategic partnerships and collaborations to expand the business. Market players are focused on new product launch and product enhancement in existing product to accelerate market growth.

Regional Analysis-

North America is expected hold the largest market share in the global market. Rising need for an enhanced marketing resource management solution and rapid adoption of cloud services boost the demand for marketing resource management market in this region. The presence of major market players such as Oracle Corporation, Adobe, IBM Corporation, Brandmaker, and Microsoft Corporation among others are involved in partnership, acquisitions, developing new products and product enhancements, this fosters the market growth in this region. For instance, In December 2020, Adobe acquired Workfront, a provider of work management platform headquartered at Utah, United States. The acquisition took place for USD 1.50 billion to strengthen Adobe’s management solution offering and increase its customer base.

Europe is expected to be a potential market for marketing resource management solution, owing to presence of prominent number of market players and growing adoption of marketing resource management solution in various organization across United Kingdom, Germany, Netherlands are likely to drive the market growth in this region. Also, deployment of high-speed 5G network across the region is expected create lucrative opportunity for virtual events.

Asia Pacific is anticipated to showcase significant growth during forecast period. Growing adoption of digitization and utilization cloud-based MRM solution across China, India, Japan and others are expected to drive the market growth rapidly in this region. In addition, presence of prominent number of small and medium enterprises which are moving towards adoption of SaaS and cloud-based solutions to develop cost-effective and highly customizable marketing ecosystem is propelling demand for marketing resource management solution in the region.

Middle East and Africa are expected to showcase moderate growth during forecast period. Government initiatives like smart city and industrialization across middle east countries including United Arab Emirates(UAE) and Kingdom of Saudi Arabia encourages digital innovation and deployment of high speed network connection, which drives the demand for marketing resource management solution in the region.

Latin America is expected to hold lucrative market opportunities in coming years. Growing demand for marketing resource management solution in small & medium size enterprises to automate and streamline marketing process is expected to boost the demand for the market in the region.

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Segmentation

Marketing Resource Management Industry development 

• November 2020- Oracle Corporation introduced an innovative cloud-based customer experience management solution “Oracle Digital Experience” for communication industry. This solution collects and examine customer-interaction data from front and back-office operations to increase sales and offer seamless services to customers.


• April 2018- Simple partnered with Microsoft Corporation to adopt Microsoft’s end-to-end intelligent cloud and enhance its marketing platform by combining the functionality of PowerApps and redefine marketing resource management.