The North America Marketing Resource Management Market would witness market growth of 12.1% CAGR during the forecast period (2020-2026).
Marketing resource management (MRM) refers to a technology utilized to effectively manage people, associated technology & operations like production, planning, and design of marketing process. The advent of MRM applications has assisted enterprises in their planning and budgeting. With the help of features such as planning and budgeting, marketing departments can design their budgets; define the expense types and period closeouts among others. With the help of this solution, the marketing department can execute a strategic program, and manage potential threats.
MRM market has observed major growth in recent years, owing to the need for examining the market trends and then plan and devise marketing strategies. The technological advancements and up-gradation of MRM software tools have further contributed to the surge in acceptance of MRM by various organizations. The severe competition within various industry verticals has reduced the marketing budgets significantly. This, as a result, compelled the companies to choose MRM solutions, and to increase expenditure on marketing activities and enhance return on investment (ROI).
Acceptance of cloud-based MRM services is another main aspect that is boosting the MRM market, as cloud-based services have assisted in further decreasing the overall expenses on marketing. Cloud-based third-party MRM services also help organizations to pay attention to their primary activities. MRM installation in SMEs is still not prevalent due to the absence of IT support or concerns with respect to the high initial investment. Low cost or pay-per-use cloud-based services are anticipated to offer the essential momentum to the adoption of MRM in SMEs.
Based on Component, the market is segmented into Solutions and Services. Solutions segment is further bifurcated across Marketing Asset Management, Project Management, Brand & Advertisement Management, Financial Management, Capacity Planning Management and Others. Based on Deployment Type, the market is segmented into On-premise and Cloud. Based on Enterprise Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Based on End User, the market is segmented into Manufacturing, Consumer Goods & Retail, Travel & Hospitality, Healthcare, Telecom & IT, BFSI and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, SAP SE, Teradata Corporation, Microsoft Corporation, HCL Technologies Ltd. (HCL Enterprises), Adobe, Inc., Oracle Corporation, Infor, Inc. (Koch Industries), SAS Institute, Inc., and North Plains Systems Corporation (Aclate, Inc.)
Scope of the Study
Market Segments covered in the Report:
o Marketing Asset Management
o Project Management
o Brand & Advertisement Management
o Financial Management
o Capacity Planning Management
By Deployment Type
By Enterprise Size
• Large Enterprises
• Small & Medium Enterprises
By End User
• Consumer Goods & Retail
• Travel & Hospitality
• Telecom & IT
• Rest of North America
• IBM Corporation
• SAP SE
• Teradata Corporation
• Microsoft Corporation
• HCL Technologies Ltd. (HCL Enterprises)
• Adobe, Inc.
• Oracle Corporation
• Infor, Inc. (Koch Industries)
• SAS Institute, Inc.
• North Plains Systems Corporation (Aclate, Inc.)
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