Marketing Resource Management Market Size

Marketing Resource Management Market Overview

The Marketing Resource Management Market size is projected to grow from USD 7.36103 Billion in 2024 to USD 15.97 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 10.17% during the forecast period (2024 - 2032). Additionally, the market size for Marketing Resource Management was valued at USD 6.59 Billion in 2023.

The increasing need for cloud-based MRM systems and the incorporation of the latest innovations, such as AI and ML, are the key market drivers contributing to market growth and expansion.

Figure1: Marketing Resource Management Market, 2018 - 2032 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Marketing Resource Management Market Trends

Growing cloud-based MRM systems are driving the market growth

The rising number of cloud-based MRM systems drives market CAGR for Marketing Resource Management. The increased need to analyze market trends, design efficient marketing strategies, and maintain the promotion of brands and compliance with laws and regulations are driving this industry's growth. These solutions assist businesses with tactical budgeting and planning, managing projects, handling resources, content management, media execution and planning, and understanding and analyzing trends to develop successful advertising tactics that advertise the brand and its associated goods and services and reach new customers. The market finds potential from an increasing need for cloud-based MRM solutions and the incorporation of modern technologies.

Additionally, marketing resources are predicted to expand the integration of large data sets and incorporate linked IoT technology into business operations, resulting in growth prospects for MRM solutions in various end-use sectors. Brand managers worldwide are working on incorporating Marketing Technology (MarTech) into their daily operations. These instruments provide significant advantages when it comes to ROI and asset management.

The covid-19 has unparalleled influences on businesses, healthcare, and the information technology sector. The rising use of MRM solutions, as firms begin to raise marketing spending owing to the covid-19 epidemic, is projected to drive demand for MRM solutions. During a pandemic, they are widely used in sectors such as banking and financial services, medical care, manufacturing, FMCG, and education to streamline people and processes, as implementing Work-From-Home policies is expected to grow the need for MRM solutions.

For instance, based on Merkle's customer engagement survey, 52% of marketers across all sectors raised expenditures, while 74% adjusted their approach to consumer content to compensate for losses. In the following years, the emphasis on sustaining and growing these innovations will increase client retention. Thus, it is anticipated that demand for w Marketing Resource Management will increase throughout the projection timeframe due to the rising cloud-based MM systems. Thus, driving the Marketing Resource Management market revenue.

Marketing Resource Management Market Segment Insights

Marketing Resource Management Component Insights

The Marketing Resource Management market segmentation, based on Components, includes Solution {Project Management, Financial Management, Asset Management, Brand and Advertising Management, Marketing Analytics, and Performance Management} and Service {Consulting and Implementation, Training, Support, and Maintenance}. The solutions category dominated the market, accounting for 51% of market revenue (USD 3.01 Billion) in 2022. Interconnected and modularized solutions solve essential business concerns such as advertising expenditures, digital assets, and promotional calendars, boosting the overall market growth.

Marketing Resource Management Deployment Insights

The Marketing Resource Management market segmentation, based on Deployment, includes On-Premises and On-Cloud. The on-premises category generated the highest market income of about 60% (USD 3.5 billion) in 2022. On-premises deployment provides businesses with data ownership, the freedom to modify solutions to their specific needs, and the ability to connect with existing business processes.

Figure 2: Marketing Resource Management Market, by Deployment, 2022 & 2032 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Marketing Resource Management Organization Size Insights

The Marketing Resource Management market segmentation, based on Organization Size, includes Large Enterprises and SMEs. The large enterprises segment dominated the market, accounting for 55% of market revenue (USD 3.5 Billion) in 2022 because of a growing digitalization trend among large enterprises. It will also likely increase throughout the forecast period due to a vast customer base, significant marketing expenditure, and cutting-edge technological platforms.

Marketing Resource Management Vertical Insights

The Marketing Resource Management market segmentation, based on Vertical, includes IT and Telecom, BFSI, Media and Entertainment, Retail & e-Commerce, and Healthcare. The retail & e-commerce category dominated the market, accounting for 36% of market revenue (USD 2.1 Billion) in 2022. They are highly consumer-centric industries rapidly adopting innovative technology and services.

Marketing Resource Management Regional Insights

By region, the research provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American Marketing Resource Management market area will dominate this market during the projected timeframe since most of the market's strongest contenders are substantially spending on study and development to create sophisticated solutions for managing different marketing-related activities and resources will boost the market growth in this region.

Further, the significant countries studied in the market report are the US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 3: Marketing Resource Management Market Share by Region 2022 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Europe region’s Marketing Resource Management market accounts for the second-largest market share due to their investment in advertising initiatives and operations to expand market reach, which creates interest in this software. Further, the German Marketing Resource Management market holds the largest market share, and the UK Marketing Resource Management market is anticipated to expand rapidly in the European region during the projected timeframe.

The Asia-Pacific Marketing Resource Management market is expected to grow fastest from 2023 to 2032. It is increasing demand for cloud-based products and offerings and government initiatives that encourage the expansion of SMEs. Moreover, China’s Marketing Resource Management market dominates the market share, and the Indian Marketing Resource Management market is expected to grow and develop quickly in the Asia-Pacific region during the projected timeframe.

Marketing Resource Management Key Market Players & Competitive Insights

Leading market players invested heavily in research and Development (R&D) to scale up their manufacturing units and develop technologically advanced solutions, which will help the Marketing Resource Management market grow worldwide. Market participants are also undertaking various organic or inorganic strategic approaches to strengthen and expand their footprint, with significant market developments including new product portfolios, contractual deals, mergers and acquisitions, capital expenditure, higher investments, and strategic alliances with other organizations. Businesses are also coming up with marketing strategies such as digital marketing, social media influencing, and content marketing to increase their scope of profit earnings. The Marketing Resource Management industry must offer cost-effective and sustainable options to survive in a moderately fragmented and dynamic market climate.

Manufacturing locally to minimize operational expenses and offer aftermarket services to customers is one of the critical business strategies organizations use in the Marketing Resource Management industry to benefit customers and capture untapped market share and revenue. The Marketing Resource Management industry has recently offered significant advantages to the BFSI industry. Moreover, more industry participants are utilizing and adopting cutting-edge technology has grown substantially. Major players in the Marketing Resource Management market, including 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), are attempting to expand market share and demand by investing in R&D operations to produce sustainable and affordable solutions.

Aprimo, Inc. develops and sells marketing services and software that automate various promotional tasks. The company provides solutions to large and medium-sized organizations all around the world. Its software is intended to aid in managing the marketing industry inside operations. It introduced a new promotional calendar in June 2021, expanding the features and capabilities of its media operations platform. This calendar provides advertisers with a complete picture of all projects by adding an actionable, customizable layer to its project administration solution.

Oracle is the world's most extensive database management firm, with revenues of $100 million and 4,500 end users in 55 different nations. It provides services and goods to enterprise IT settings across the world. Oracle software for the cloud as a solution includes a variety of cloud software programs. They released a new cloud-based user experience management system called "Oracle Digital Experience" for the telecom business in November 2020. This system collects and analyses customer interaction information from both front- and back-office activities to enhance sales and provide customers with seamless experiences.

Key Companies in the Marketing Resource Management market include

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  IBM Corporation (US)

  
  


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  SAP SE (Germany)

  
  


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  SAS Institute, Inc. (US)

  
  


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  Microsoft Corporation (US)

  
  


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  Adobe Systems, Inc. (US)

  
  


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  Infor, Inc. (US)

  
  


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  Oracle, Inc. (US)

  
  


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  HCL Technologies (India)

  
  


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  Workfront, Inc. (US)

  
  


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  North Plains Systems Corporation (Canada)

  
  


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  Teradata Corporation (US)

  
  


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  Aprimo (US)

  
  


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  Broadridge (US)

  
  


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  Sitecore (US)

  
  


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  Capital ID (Netherlands)

  
  

Marketing Resource Management Industry Developments

June 2021: Aprimo introduced a new promotional calendar in June 2021, expanding the features and capabilities of its media operations platform. This calendar provides advertisers with a complete picture of all projects by adding an actionable, customizable layer to its project administration solution.

November 2020: Oracle Corporation released a new cloud-based user experience management system called "Oracle Digital Experience" for the telecom business in November 2020. This system collects and analyses customer interaction information from both front- and back-office activities to enhance sales and provide customers with seamless experiences.

April 2018: Simple collaborated with Microsoft to implement Microsoft's end-to-end innovative cloud and expand its marketing platform by merging PowerApps features and reinventing marketing resource management.

Marketing Resource Management Market Segmentation

Marketing Resource Management Component Outlook

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  Solution

  
  

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  Project Management

  
  


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  Financial Management

  
  


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  Asset Management

  
  


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  Brand & Advertising Management

  
  


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  Marketing Analytics

  
  


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  Performance Management

  
  

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  Service

  
  

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  Consulting & Implementation

  
  


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  Training

  
  


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  Support & Maintenance

  
  

Marketing Resource Management Deployment Outlook

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  On-Premises

  
  


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  On-Cloud

  
  

Marketing Resource Management Organization Size Outlook

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  Large Enterprises

  
  


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  SME's

  
  

Marketing Resource Management Vertical Outlook

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  IT & Telecom

  
  


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  BFSI

  
  


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  Media & Entertainment

  
  


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  Retail & e-Commerce

  
  


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  Healthcare

  
  

Marketing Resource Management Regional Outlook

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  North America

  
  
  
  
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    US

    
    
  
  
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    Canada

    
    
  
  
  
  


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  Europe

  
  
  
  
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    Germany

    
    
  
  
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    France

    
    
  
  
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    UK

    
    
  
  
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    Italy

    
    
  
  
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    Spain

    
    
  
  
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    Rest of Europe

    
    
  
  
  
  


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  Asia-Pacific

  
  
  
  
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    China

    
    
  
  
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    Japan

    
    
  
  
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    India

    
    
  
  
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    Australia

    
    
  
  
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    South Korea

    
    
  
  
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    Australia

    
    
  
  
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    Rest of Asia-Pacific

    
    
  
  
  
  


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  Rest of the World

  
  
  
  
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    Middle East

    
    
  
  
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    Africa

    
    
  
  
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    Latin America