MarketsandMarkets has extensively divided the Multichannel Campaign Management Market by software; by deployment: cloud and on-premise; by end users: enterprises, advertisers, and publishers; by services: consulting services, system implementation and integration services, and training and support; by verticals: BFSI, retail, pharmaceuticals and healthcare, travel and tourism, transportation, media and entertainment, telecommunication and IT, and others; by regions: North America (NA), Europe , Asia-Pacific (APAC), Latin America (LA) and Middle East and Africa (MEA).
As the multichannel campaign management (MCM) continues to add new social and digital channels, top players in this market find new methods and strategies for enhanced customer engagement techniques. The growing age of digital marketing has led to crucial reforms in the traditional marketing practices. Companies have found it necessary to run huge promotional campaigns to control the mindshare of the customers. The global operations of the companies have urged for an advanced MCM solution to provide the companies with valuable insights from customer information and strategize new ways of customer engagement for retention and acquisition of valuable customers. MCM solutions build new-age communication links with customers over various channels such as emails, SMS, web, blogs, social media, mobile apps and others. The MCM market is soon expected to pick up rapid pace of expansion throughout the globe.
The drivers, restraints and opportunities along with the time-impact analysis have been identified in the report. The drivers for this market are listed as network and technological advancements, growing trends in digital marketing, emergence of advanced mobility options such as Smartphones, tablets, and other hand-held devices and growing mobile marketing trend. The restraint for this market is changing dynamics of marketing channels, technological constraints of compatibility and customer privacy concerns. Proximity marketing and customer-centric solutions have been acknowledged as the opportunities in this market. Whereas, competitive rivalry in the digital marketing industry is the major challenge, companies are facing today.
The Multichannel Campaign Management Market is estimated to grow from $1.13 Billion in 2014 to $2.70 Billion in 2019 at a Compound Annual Growth Rate (CAGR) of 19.0% from 2014 to 2019. On geographical grounds, North America (NA) is forecasted to be the biggest market for Multichannel Campaign Management Market followed by Europe and Asia-Pacific.
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