Multichannel Marketing Global Market Report 2024

The multichannel marketing market size has grown exponentially in recent years. It will grow from $7.38 billion in 2023 to $9.25 billion in 2024 at a compound annual growth rate (CAGR) of 25.4%. The growth experienced in the historical period can be credited to the emergence of e-commerce, the widespread adoption of mobile devices, advancements in digital advertising technologies, the expansion of social media platforms, and the increasing prevalence of data analytics and personalization.

The multichannel marketing market size is expected to see exponential growth in the next few years. It will grow to $23.2 billion in 2028 at a compound annual growth rate (CAGR) of 25.8%. The forecasted growth can be linked to the integration of artificial intelligence and machine learning, the broadening scope of voice and visual search, the implementation of blockchain for enhanced data security and transparency, and the advent of 5G technology. Key trends anticipated in the forecast period encompass hyper-personalization, omnichannel customer journeys, interactive and immersive experiences, the management of data privacy and consent, as well as a focus on sustainability and social responsibility.

The multichannel marketing market is poised for growth driven by the increasing adoption of digital channels. Digital channels encompass a variety of online platforms and mediums facilitating electronic information exchange, communication, and transactions. This adoption trend is fueled by factors such as heightened internet penetration, enhanced convenience, cost-effectiveness, and rapid technological innovation. Multichannel marketing leverages a blend of digital channels to engage target audiences across diverse touchpoints, aiming to deliver cohesive, consistent, and personalized experiences. These experiences drive engagement, conversions, and foster long-term loyalty. For instance, data published by Avacado Social, a UK-based social media firm, in February 2022 revealed a projected increase of 424 million social media users in 2021, marking a 10% rise compared to the previous year. Consequently, the surge in digital channel adoption is propelling the expansion of the multichannel marketing market.

Leading players in the multichannel marketing market are innovating by developing advanced multichannel texting platforms to meet the growing demand for seamless and integrated customer experiences across diverse channels. Multichannel texting platforms are software solutions enabling businesses to send and receive text messages through various communication channels. These platforms empower businesses to engage with their customers, clients, or employees via text messaging across multiple channels simultaneously. For instance, in May 2021, Squaretalk, an Israel-based software company, introduced Express, a new multichannel texting platform along with its multi-channel messaging service. This service enables instant and secure interaction via SMS or callback for tasks like appointment confirmations or rescheduling, service rating, agreement to terms, and more. Designed to optimize the customer journey, the platform integrates various communication methods including voice, video, messaging, or social media into one unified, cross-channel platform. Additionally, it offers features facilitating personalized interactions and streamlining automations and integrations, enabling businesses to deliver swift and effective customer interactions across all platforms.

In December 2023, Havas SA, a France-based public relations company, acquired EPROFESSIONAL GmbH, a Germany-based marketing agency specializing in multichannel marketing services. This acquisition enhances Havas' digital marketing capabilities, strengthening its presence in the German market and expanding its global performance marketing expertise.

Major companies operating in the multichannel marketing market are Mailchimp Inc., International Business Machines Corporation, Oracle Corporation, SAP SE, Salesforce Inc, Adobe Inc., SAS Institute Inc., Act-On Software Inc., HubSpot Inc., Marketo Inc, Zoho Corporation, Constant Contact Inc, Hootsuite Inc., ActiveCampaign LLC, Sendinblue, Acoustic, SharpSpring Inc., Pardot Inc, Eloqua Inc., Infusionsoft, Klaviyo Inc, ClickDimensions Inc, Campaign Monitor, ConvertKit, GetResponse, AWeber Communications.

North America was the largest region in the multichannel marketing market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the multichannel marketing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the multichannel marketing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Multichannel marketing involves engaging with customers across a variety of channels, both online and offline, to promote products or services. This approach establishes a unified marketing strategy that utilizes different channels' strengths to effectively connect with customers and meet business goals.

The primary forms of multichannel marketing include websites, mobile platforms, email, and others. Websites serve as online hubs comprising web pages with information, multimedia content, and interactive features accessible via the internet. They encompass diverse channel types, including sales through intermediaries, dual distribution, reverse channels, platform insights, global positioning systems (GPS), search engine optimization (SEO), email, and company websites. This strategy finds application across various sectors such as information technology, telecommunications, retail, hospitality, healthcare, automotive, consumer goods, and financial services.

The multichannel marketing market research report is one of a series of new reports that provides multichannel marketing market statistics, including multichannel marketing industry global market size, regional shares, competitors with a multichannel marketing market share, detailed multichannel marketing market segments, market trends and opportunities, and any further data you may need to thrive in the multichannel marketing industry. This multichannel marketing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The multichannel marketing market includes revenues earned by entities by providing services such as digital marketing, website development and optimization, mobile marketing, content creation, email marketing, social media management, and customer relationship management. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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