The global marketing resource management market size is expected to reach USD 6.89 billion by 2027, according to a new report by Grand View Research, Inc. The market is anticipated to register a CAGR of 11.7% from 2021 to 2027. Marketing Resource Management (MRM) is a cloud-based software that is widely used by organizations for effectively centralizing and managing their marketing operations. It enables organizations to unify brand compliance and marketing workflows and effectively track their Return on Investment (ROI).
Marketing
Resource Management (MRM) is a technology used to efficiently handle workforce
and associated technology and operations such as planning, production, and
design of marketing processes. The emergence of MRM applications has helped
businesses in their planning and budgeting activities. By using functionalities
such as budgeting and planning, marketing divisions can effectively plan their
budgets, define the expense types, and closeouts, among others.
The
increasing need for ensuring brand and regulatory compliance is expected to
propel the MRM market growth over the forecast period. Using MRM solutions, the
marketing department can tackle potential threats and run a strategic program.
Emerging technology solutions driven by machine learning and artificial
intelligence to deliver sustainable omnichannel experience are expected to
further create growth opportunities for the market players.
The
outbreak of the COVID-19 pandemic is anticipated to favorably impact market
growth. However, the upfront costs associated with new MRM systems are expected
to hamper the growth. Furthermore, the lack of trust in new marketing
technologies is also hampering the growth.
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Marketing Resource
Management Market Report Highlights
- The brand and
advertising management segment is expected to witness significant growth
over the forecast period owing to the adoption of these solutions in
decentralized companies to maintain brand compliance
- The increased
focus of businesses to move from the legacy platform to cloud platform is
expected to create growth opportunities for the training, support, and
maintenance services segment
- The adoption
of on-premise solutions is high owing to benefits associated with
configuration, reduced vendor dependency, and numerous customization
options
- Factors such
as the growing integration of advanced technologies, the presence of a
large number of resources, extensive product portfolio, and complex
workflows are expected to propel the adoption of MRM solutions in large
enterprises
- The
increasing need to target customers and market products based on the
digital footprint is encouraging consumer goods and retail companies to
adopt advanced marketing technologies
- The growth of
sectors such as BFSI and IT and telecom in developing countries such as
India and China is expected to create the demand for MRM solutions in the
Asia Pacific region
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Marketing Resource
Management Market Segmentation
Grand View Research has
segmented the global marketing resource management market based on solution,
services, deployment, enterprise size, end-use, and region:
Marketing Resource
Management Solution Outlook (Revenue, USD Million, 2016 - 2027)
- Brand & Advertising Management
- Capacity Planning Management
- Creative Production Management
- Financial Management
- Marketing Asset Management
- Marketing Reporting & Analytics
- Project Management
- Others
Marketing Resource
Management Services Outlook (Revenue, USD Million, 2016 - 2027)
- Consulting & Implementation
- Training, Support, and Maintenance
Marketing Resource
Management Deployment Outlook (Revenue, USD Million, 2016 - 2027)
- Cloud
- On-premise
Marketing Resource
Management Enterprise Size Outlook (Revenue, USD Million, 2016 - 2027)
- Large Enterprises
- Small & Medium Enterprises
Marketing Resource
Management End-use Outlook (Revenue, USD Million, 2016 - 2027)
- BFSI
- Consumer Goods & Retail
- Healthcare
- IT & Telecom
- Manufacturing
- Media & Entertainment
- Travel & Hospitality
- Others
Marketing Resource
Management Regional Outlook (Revenue, USD Million, 2016 - 2027)
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- Asia Pacific
- China
- India
- Japan
- Latin America
- Brazil
- Middle East & Africa
List of Key
Players of Marketing Resource Management Market
- Adobe
- Aprimo US LLC
- BrandMaker
- HCL Technologies Limited
- Infor, Inc.
- Microsoft
- Northplains
- SAP SE
- SAS Institute, Inc.
- Workfront, Inc.
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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