Multichannel Marketing Market Size was valued at USD 5.69 billion in 2022. The Multichannel Marketing market industry is projected to grow from USD 6.96 Billion in 2023 to USD 28.6 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 22.3% during the forecast period (2023 - 2030). Rapidly increasing adoption of digital channels, personalization, marketing automation, and growing demand for analytics are the key market drivers boosting the growth of the Multichannel Marketing market.
Figure 1: Multichannel Marketing Market Size, 2023-2030 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Increased use of artificial intelligence (AI) to better understand customer behavior and personalize their marketing messages are expected to drive market growth.
Companies are increasingly using analytics and insights to measure the effectiveness of their multichannel marketing campaigns and make data-driven decisions. As a result, there is a growing demand for tools and technologies that can provide comprehensive analytics and insights across multiple channels. By leveraging the latest tools and technologies, businesses can create highly targeted, personalized campaigns that resonate with their customers and open new avenues in the multichannel marketing industry in coming years.
Customers today expect personalized interactions with brands. Multichannel marketing allows companies to gather data on customer behavior and preferences and use that data to personalize their marketing messages and campaigns. Multichannel marketing enables companies to offer a seamless customer experience across multiple channels. By providing consistent and relevant messaging, companies can build stronger customer relationships and increase customer loyalty. This has helped the multichannel marketing market revenue rise. For example, in May 2021, Squaretalk launched Express, a new multichannel texting platform that aims to establish a good relationship between vendors and customers.
The global multichannel marketing market segmentation, based on channel type, includes Selling Through Intermediaries, Dual Distribution, and Reverse Channel. The Selling Through Intermediaries segment held the majority share in 2022, contributing around ~40% to the market revenue. Selling Through Intermediaries refers to using intermediaries or middlemen to distribute and sell products or services to customers across multiple channels, increasing multichannel communications. Intermediaries are entities that stand between the manufacturer or service provider and the end consumer, providing a range of services that facilitate the exchange of products or services. Selling through intermediaries is beneficial for manufacturers or service providers who need more resources, expertise, or market presence to reach their target customers through multiple channels; therefore, this segment experiences high growth in the market.
Figure 2: Multichannel Marketing Market, by Channel, 2022 & 2030 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Further, the dual distribution segment is expected to grow fastest between 2023 and 2030. The dual distribution segment is expanding due to increased demand for omnichannel experiences. Multichannel distribution helps companies expand their reach, diversify their customer base, and capture new market opportunities.
The global multichannel marketing market segmentation, based on marketing platform, includes GPS, SEO, Email, and company website. SEO dominated the market in 2022 and is projected to be the faster-growing segment during the forecast period, 2023-2030, due to the increased use of search engines, the growing importance of online presence, and cost-effectiveness. In multichannel marketing, SEO plays a crucial role. Companies are investing more in SEO to improve their visibility in search results as more people rely on search engines like Google to find products and services. SEO allows companies to optimize their websites, content, and online presence to increase their rank in search engine results, increasing their chances of attracting organic traffic and generating leads.
Based on verticals, the global Multichannel Marketing Industry has been segmented into IT & Telecom, Retail, Hospitality, Healthcare, Automotive, Consumer goods, and Financial Services. Retail held the highest segment revenue share in 2022, owing to the shift towards omnichannel retail. Retailers have increasingly been focusing on providing an omnichannel experience to customers by allowing them to shop through multiple channels, including online marketplaces, mobile apps, physical stores, and social media platforms. This has led to the development of more sophisticated multichannel marketing strategies like multichannel retailing, driving market growth.
Furthermore, the hospitality sector's multichannel marketing market is growing significantly due to the increasing competition, with new players constantly entering the market. Multichannel marketing allows hotels and resorts to stand out from the competition and reach more customers through various channels. Multichannel marketing also provides hotels and resorts with valuable data-driven insights. Hotels and resorts can better understand their customer's behavior, preferences, and needs by analyzing data from multiple channels. This information can be useful in improving marketing strategies and providing more personalized experiences for customers.
By Region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American multichannel marketing market accounted for ~33% market share in 2022 and is expected to exhibit a significant CAGR growth during the study period. This high revenue share is primarily due to the region's highly developed e-commerce infrastructure, high internet penetration, and widespread access to mobile devices. This has enabled the development of sophisticated multichannel marketing strategies, with retailers and other businesses leveraging online channels to reach customers and drive sales. Moreover, North America is home to a large and diverse market, with a wide range of industries and businesses actively using multichannel marketing strategies. This has created a highly competitive market, with companies looking for innovative ways to reach customers across channels and differentiate themselves from their competitors. Another factor contributing to this regional segment's dominance is the supportive regulatory environment. The region has a favorable regulatory environment for businesses, with relatively few barriers to entry and a strong emphasis on consumer protection.
Further, the major countries studied in the market report are the U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 3: MULTICHANNEL MARKETING MARKET SIZE BY REGION 2022 & 2030
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
European Multichannel Marketing market accounts for the second-largest market share. The European market is highly competitive, with businesses looking for innovative ways to differentiate themselves and gain an edge over their competitors. Multichannel marketing strategies can help businesses to stand out and reach new customers, driving the market growth. The multichannel marketing market in Europe is highly competitive. As the market continues to grow, we expect to see increased innovation and competition and a focus on delivering more personalized and targeted marketing experiences to customers across multiple channels.Further, the UK multichannel marketing market held the largest market share, and the Germany multichannel marketing market was the fastest-growing market in the European region.
The Asia-Pacific multichannel marketing Market is expected to grow at the fastest CAGR between 2022 and 2030, owing to increasing mobile and internet user base. This has increased e-commerce activities, online shopping, and digital marketing. As a result, the Asia-Pacific region is expanding at the highest CAGR. The region's growing economy has also boosted the need for multichannel marketing as businesses seek to expand their customer base and increase revenue. In addition, the expanding IT landscape in the region has provided a conducive environment for adopting multichannel marketing strategies, especially in developing nations like China and India.
The e-commerce industry has also experienced rapid growth in recent years, creating more competition among businesses and boosting the demand for effective multichannel marketing strategies. As a result, the region's multichannel marketing market is expected to grow significantly, providing businesses with more opportunities to expand their customer base and increase their revenue.
Major market players in the multichannel marketing industry are concentrating on offering technologically cutting-edge marketing solutions to improve their competitiveness in the international market.
The global multichannel marketing market is highly fragmented due to increasing competition, product launches, joint ventures, and other strategic market developments and decisions to improve operational effectiveness.
Grey Advertising
Crispin Porter + Bogusky
Butler
Stern & Partners
Wieden + Kennedy
Ogilvy & Mather
The Martin Agency
Deutsch
Droga5
In April 2021, Oro Inc. launched Oromarketplace to increase the multichannel sales growth for the organization.
In May 2021, Squaretalk launched Express, a new multichannel texting platform to establish a good relationship between vendors and customers.
Selling Through Intermediaries
Dual Distribution
Reverse Channel
GPS
SEO
Company Website
IT &Telecommunication
Retail
Hospitality
Healthcare
Automotive
Financial Services
North America
US
Canada
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Rest of the World
Middle East
Africa
Latin America
| Report Attribute/Metric | Details |
| Market Size2022 | USD 5.69 billion |
| Market Size 2023 | USD 6.96 billion |
| Market Size 2030 | USD 28.6 billion |
| Compound Annual Growth Rate (CAGR) | 22.3% (2023-2030) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2030 |
| Historical Data | 2019 - 2021 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Channel type, marketing platform, vertical and Region |
| Geographies Covered | Europe, North America, Asia-Pacific, and the Rest of the World |
| Countries Covered | The U.S, Canada, Germany, U.K., France, Japan, China, Australia, India |
| Key Companies Profiled | Grey Advertising (U.S.), Wieden+Kennedy (U.S.), Butler, Shine, Stern & Partners (U.S.), Ogilvy & Mather (U.S.), BBDO (U.S.), Crispin Porter + Bogusky (U.S.), The Martin Agency (U.S.), Deutsch (U.S.), Droga5 (U.S.), Mullen Advertising (U.S.) |
| Key Market Opportunities | The rising competition among enterprise and increasing retail stores is one of the significant factor boosting multichannel marketing in the region. |
| Key Market Dynamics | The factors driving multichannel marketing market includes, implementation of advanced technology in advertisement, rising competition among enterprises in urban areas and increase in number of internet users |
Frequently Asked Questions (FAQ) :
The global Multichannel Marketing Market size was valued at USD 5.69 Billion in 2022.
The global market is projected to grow at a CAGR of 22.3% during the forecast period, 2023-2030.
North America had the largest share of the global market.
The key players in the market are are Grey Advertising (U.S.), Crispin Porter + Bogusky (U.S.), Shine, Butler, BBDO (U.S.), Stern & Partners (U.S.), Wieden+Kennedy (U.S.), Ogilvy & Mather (U.S.) Mullen Advertising (U.S.), The Martin Agency (U.S.), Deutsch (U.S.), Droga5 (U.S.).
The selling through intermediaries channel dominated the market in 2022.
Retail had the largest revenue share of the global market.
Leading companies partner with us for data-driven Insights.
Kindly complete the form below to receive a free sample of this Report
Team Lead - Research she holds an experience of about 6+ years in market research and business consulting, working under the spectrum of information communication technology, telecommunications and semiconductor domains. aarti conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. her expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc.
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
