Global Marketing Resource Management Market was valued at USD 2.42 Billion in 2018 and is expected to reach USD 5.9 Billion by 2026, growing at a 13.30% CAGR during the forecast period, 2020–2026.
Marketing resource management (MRM) is a software platform, which helps marketers in organizing and managing their marketing operations. MRM solutions assist in the management of complicated marketing processes, such as plans, budgets, tasks, creation, ideation, and assets. The software allows organizations to plan out the strategic and financial planning of marketing initiatives, create and organize related marketing assets, and distribute marketing assets internally and externally, thereby ensuring faster time-to-market (TTM), increase brand awareness and reach, boost in online traffic and sales, and enhanced customer experience.
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Asia-Pacific is projected to register the highest CAGR in the marketing resource management market. The region has witnessed increasing support from the government for the growth of SMEs and has a growing retail and e-commerce market, which drives the demand for marketing resource management solutions. Furthermore, the adoption of cloud-based solutions and services is further boosting the market growth in the region. Additionally, the growing number of startups focusing on developing marketing resource management solutions for enterprises across various verticals is expected to drive the regional market growth during the forecast period.
The marketing resource management market in the Middle East & Africa and South America is expected to grow at a steady pace. Rising demand for MRM solutions among enterprises for obtaining business insights to ensuring faster time-to-market (TTM), increase brand awareness and reach, boost in online traffic and sales, and enhance customer experience are driving the market growth in the region.
MRFR has identified IBM Corporation (US), SAP SE (Germany), SAS Institute, Inc. (US), Microsoft Corporation (US), Adobe Systems, Inc. (US), Infor, Inc. (US), Oracle, Inc. (US), HCL Technologies (India), Workfront, Inc. (US), North Plains Systems Corporation (Canada), Teradata Corporation (US), Aprimo (US), Broadridge (US), Sitecore (US), and Capital ID (Netherlands) as some of the key players operating in the global marketing resource management market.
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