According to a new market research report "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 ", published by MarketsandMarkets, the market is expected to grow from USD 2.9 billion in 2020 to USD 5.0 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 11.8% during the forecast period. Key factors driving the MRM market include benefits of modular suites with interconnected solutions and third-party integrations, need for ensuring brand and regulatory compliance, and need for reducing cycle time projections through content deduplication and distribution.
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Large enterprises segment to hold a larger market size during the forecast period
The adoption of MRM solutions is high among large enterprises, due to high budget allocation, presence of the large number of vendors, digital assets, and workforce, extensive product portfolio and affordability due to economies of scale. Moreover, rising focus on customer experience compelling them to adopt robust marketing technologies that enable automated responses and suggestions for the curated campaign is another factor for the high adoption of MRM solutions among large enterprises.
Consumer goods and retail segment to grow at the highest CAGR during the forecast period
A growing need to market products and target customers based on the digital footprint drives retail and consumer goods companies to adopt advanced marketing technologies. With this, several retailers and consumer goods companies are leveraging the internet by launching their eCommerce site, using different mediums to connect with customers, and using MRM solutions to improve their marketing content distribution across those channels. Owing to this, the consumer goods and retail segment to grow at the highest CAGR.
North America to account for a high market share during the forecast period
North America has always been at the forefront of adopting advanced technologies and has depicted a high adoption of marketing technologies. With this, many companies in North America are increasingly adopting MRM solutions to improve marketing processes and enhance customer and partner experience with better content localization and distribution. Moreover, the direct presence of many major MRM vendors in North America has further added to the high adoption of MRM solutions in North America.
The global MRM market comprises major solution providers, such as SAP (Germany), SAS (US), Aprimo (US), BrandMaker (Germany), Workfront (US), HCL Technologies (India), Oracle (US), Percolate (US), Allocadia (Canada), Adobe (US), Infor (US), Northplains (Canada), Broadridge (US), Sitecore (US), Contentserv (Switzerland), Bynder (US), censhare (Germany), MarcomCentral (US), Elateral (UK), Capital ID (Netherlands), Wedia (France), NewsCred (US), inMotionNow (US), and Simple (Australia). The study includes the in-depth competitive analysis of key players in the MRM market with their company profiles, recent developments, and key market strategies.
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