Marketing Cloud Platform Market Size Worth $23.21 Billion By 2032 | CAGR: 8.60%

The global marketing cloud platform market size is expected to reach USD 23.21 billion by 2032, according to a new study by Polaris Market Research. The report “Marketing Cloud Platform Market Share, Size, Trends, Industry Analysis Report, By Component (Platform and Services); By Deployment Mode; By Marketing Function; By Vertical; By Region; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Increasing prevalence and adoption of smart tools with AI embedded, which allow businesses to know their customer behaviors and help them in adapting the changes in their respective designing and production sectors coupled with the growth rate of digitalization globally, are major prominent factors driving the global market growth.

In addition, the rising awareness among SMEs regarding omnichannel and customer satisfaction and growing investments towards the development of innovative solutions will further stimulate market growth. For instance, in March 2023, Coosto, introduced Coosto for Salesforce Marketing Cloud, which offers cutting-edge content and an improved social media marketing tool, which provides solutions for every stage of the content marketing process.

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Moreover, these types of platforms are now using predictive analytics to forecast customer behavior and provide insights into future trends, which could help businesses to efficiently make data-driven decisions and optimize their marketing campaigns for better and improved results. With the extensive rise of voice assistants like Amazon Alexa and Google Home, major players operating in the market have started optimizing these solutions for voice search including voice-activated chatbots, voice search optimization, and the ability to analyze and respond to voice data, which further creates huge potential for the market shortly.

Marketing Cloud Platform Market Report Highlights

• Platform segment lead the market share in 2022, on account of growing demand for the solution worldwide due to its ability to fix bugs and simplify the upgrades
• Public cloud segment held the majority market share in 2022, which is largely attributed to its numerous benefits including cost-effectiveness and easy availability worldwide
• Sales channel segment is anticipated to grow at a high CAGR during the anticipated period, mainly due to the growing incorporation of these platforms among large companies
• Healthcare & life sciences segment is expected to hold considerable market share over the study period, because of the rising implementation of data-driven decisions
• North America region dominated the global market with maximum share in 2022, owing to a rapid increase in the adoption of innovative technology and high investments in R&D activities
• The global key market players include IBM Corporation, Adobe, Cision, CM Group, Oracle Corporation, Salesforce, & Teradata Corporation

Polaris Market Research has segmented the marketing cloud platform market report based on component, deployment mode, marketing function, vertical, and region:

Marketing Cloud Platform, Component Outlook (Revenue - USD Billion, 2019 - 2032)

• Platform
• Services

Marketing Cloud Platform, Deployment Mode Outlook (Revenue - USD Billion, 2019 - 2032)

• Public Cloud
• Private Cloud

Marketing Cloud Platform, Marketing Function Outlook (Revenue - USD Billion, 2019 - 2032)

• Advertising
• Designing
• Sales Channel
• Branding
• Communications
• Customer Support

Marketing Cloud Platform, Vertical Outlook (Revenue - USD Billion, 2019 - 2032)

• Retail & E-Commerce
• BFSI
• IT & Telecom
• Education
• Travel & Hospitality
• Media, Entertainment, and Gaming
• Healthcare & Life Sciences
• Others

Marketing Cloud Platform, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

• North America

• U.S.
• Canada

• Europe

• Germany
• UK
• France
• Italy
• Spain
• Russia
• Netherlands

• Asia Pacific

• China
• India
• Japan
• South Korea
• Indonesia
• Malaysia

• Latin America

• Argentina
• Brazil
• Mexico

• Middle East & Africa

• UAE
• Saudi Arabia
• Israel
• South Africa

Marketing Cloud Platform Market Report Scope