Marketing Resource Management Global Market Report 2024

The marketing resource management market size has grown rapidly in recent years. It will grow from $5.37 billion in 2023 to $6.2 billion in 2024 at a compound annual growth rate (CAGR) of 15.3%. The expansion observed in the historical period can be attributed to several factors. These include improvements in efficiency, increased collaboration across teams, the adoption of data-driven decision-making processes, efforts to reduce unnecessary marketing expenses, and a growing awareness of the importance of adhering to regulatory standards.

The marketing resource management market size is expected to see rapid growth in the next few years. It will grow to $11.03 billion in 2028 at a compound annual growth rate (CAGR) of 15.5%. The anticipated growth in the forecast period can be attributed to several factors, including the integration of AI and automation technologies, heightened concerns surrounding security and privacy, ongoing investment in continuous training and development, the demand for scalable solutions, and the need for real-time insights. Major trends expected in this period include the enhancement of AI capabilities, the adoption of blockchain for transparent marketing supply chains, the development of advanced cross-channel attribution models, integration with virtual and augmented reality technologies, and optimization for voice search.

The projected surge in digital marketing initiatives is poised to drive the expansion of the marketing resource management (MRM) market in the foreseeable future. Digital marketing initiatives encompass various online strategies and tactics utilized to promote products or services, exploiting channels such as social media, search engines, email, and websites to engage target audiences and enhance brand visibility and conversions. This uptick in digital marketing endeavors stems from the increasing online presence of consumers and the efficacy of targeted advertising on digital platforms. Marketing resource management (MRM) tools play a pivotal role in optimizing digital marketing processes, ensuring efficient resource allocation to maximize return on investment (ROI). For instance, data from the Interactive Advertising Bureau (IAB) in April 2022 revealed a substantial year-on-year growth of 35.4% in total digital ad revenues for 2021, reaching a staggering $189 billion. This growth, nearly three times larger than the 12.2% increase observed in 2020, underscores the significant momentum behind digital marketing efforts, propelling the demand for marketing resource management solutions.

Prominent players in the marketing resource management arena are intensifying their efforts to develop cutting-edge solutions, including integrated marketing calendars, to gain a competitive advantage in the market. Integrated marketing calendars serve as essential tools within resource management, facilitating streamlined planning and execution processes to optimize resources for impactful digital campaigns while promoting agility in alignment with overarching business objectives. For instance, in June 2021, Aprimo, a leading marketing automation software company, unveiled the actionable marketing calendar as part of its comprehensive marketing resource management software suite. This strategic planning tool enables the delineation and scheduling of specific marketing activities, campaigns, and deadlines, providing a structured framework for timely execution and coordination. The marketing calendar offers a holistic view of all planned, in-flight, and ongoing campaigns, fostering enhanced collaboration and operational efficiency across teams.

In September 2022, Planful Inc., a prominent US-based software company, completed the acquisition of Plannuh for an undisclosed sum. This strategic acquisition empowers Planful to furnish marketers with profound financial insights into all marketing activities, facilitating real-time adjustments to investments and fostering closer collaboration with the finance department. Plannuh, a US-based software company specializing in marketing resource management capabilities, offers marketers a centralized platform for seamless creation and management of marketing plans and budgets. This acquisition amplifies Planful's capabilities in providing comprehensive financial intelligence for marketing endeavors, enabling marketers to make informed decisions and optimize resource allocation effectively.

Major companies operating in the marketing resource management market are Microsoft Corporation, International Business Machines Corporation, Oracle Corporation, SAP SE, Adobe Systems Inc., HCL Technologies Limited, Broadridge Financial Solutions, SAS Institute Inc., Teradata Corporation, Aprimo LLC, MarcomCentral, BrandMaker GmbH, Sitecore Corporation, North Plains Systems Corporation, Capital ID B.V., Allocadia Software Inc., Admation Pty. Ltd., Bynder B.V., BrandMaster AS, InMotionNow Inc., Marvia B.V., IntelligenceBank Pty. Ltd., Hive9 Solutions Inc., Optimatica Technologies LLC.

North America was the largest region in the marketing resource management market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the marketing resource management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the marketing resource management market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Marketing resource management (MRM) refers to a software solution utilized by organizations to efficiently plan, budget, execute, and analyze their marketing activities. It enables better control over marketing resources, thereby enhancing efficiency and maximizing return on investment (ROI) from marketing initiatives.

The primary types of marketing resource management solutions include marketing reporting and analytics, capacity planning management, financial management, creative production management, brand and advertising management, marketing asset management, and others. Marketing reporting and analytics involve the measurement, analysis, and interpretation of marketing performance data to optimize strategies and decision-making processes. These solutions can be deployed both in the cloud and on-premises and find application across various industry verticals including media and entertainment, retail, banking, financial services, insurance, healthcare, consumer goods, automotive, manufacturing, apparel, and others.

The marketing resource management market research report is one of a series of new reports that provides marketing resource management market statistics, including marketing resource management industry global market size, regional shares, competitors with a marketing resource management market share, detailed marketing resource management market segments, market trends and opportunities, and any further data you may need to thrive in the marketing resource management industry. This marketing resource management 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 marketing resource management market includes revenues earned by entities by providing services such as campaign planning and execution, budgeting, workflow automation, and integration with other systems. 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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