Marketing Resource Management (MRM) Market, by Solution (Financial Management, Project Management, Marketing Analytics, Marketing Asset Management, Capacity Planning Management, Brand and Advertising Management, Others), End Customer (SME, Large Enterprise), Deployment (On-Premise, Cloud), Industries (BFSI, Information Technology, Media & Entertainment, Healthcare, Retail, Automotive, Others), Regional Analysis (North America, Europe, Asia-Pacific, LAMEA): Global Opportunity Analysis and Industry Forecast, 2019–2026

Marketing Resource Management Market Analysis:

Marketing Resource Management (MRM) is the process of effective handling of multiple marketing resources using software dedicated explicitly to resource management. These software help firms in managing human resources, asset management, utmost utilization of available technology, and planning & designing activities related to marketing. The basic motive of organizations incorporating MRM systems is to save energy, expertise, funds, and time and use all these resources efficiently. MRM systems help an organization in studying prevailing market conditions, analyzing potential, threats, and forecast for the future as well.

Prevailing market competition and multiple communication channels are the key factors driving the growth of marketing resource management market

The incorporation of artificial intelligence has made forecasting and analyzing activity extremely effective and has helped in smooth decision making and strategy development processes. In addition, the development of cloud-based management systems are cost-effective and don’t require any space are highly preferred in small and medium-sized businesses, in recent years. Also, the development of software as a service (SaaS) based solutions are cost-effective as well as they are capable of multiple tasks. Due to these technological advancements in MRM systems, the global market is anticipated to witness major growth. Moreover, prevailing market competition has further added up the pressure of opting for the best plan of action and strategies which ensure optimum utilization of resources. Thus, several organizations across the world mostly prefer for MRM, which provides various data, trends, insights, and forecasts. These factors may lead to driving the growth of the global market. Furthermore, due to the emergence of multiple channels for marketing, it is necessary that the right strategies are being implemented, and correct decisions are being made in choosing the most appropriate channel. All these factors have made marketing resource management systems popular across the globe, and they are widely being accepted, eventually ensuring the growth of the MRM market.

High investment costs and lack of IT support has impacted the marketing resource management market negatively

High initial investment costs of MRM systems for the small businesses are expected to restrain the growth of the global MRM industry, during the forecast period. Further, the requirement of appropriate and efficient IT support related to MRM software systems has also increased the buyer’s disinterest in investing in the MRM system. 

The emergence of Software as a service (SAAS) is expected to create a lucrative opportunity for the global market

Software as a service (SaaS) is the third party provided software system which is often purchased or licensed by others on a subscription basis. The SaaS is controlled and managed by the provider only and offers a wide range of benefits and facilities to its users. Various organizations ranging from Large-sized to small-sized are opting SAAS systems as they do not require any hardware storage space, and also they are available at reasonable, affordable prices. Recent top SaaS software systems post-2018 include Bynder, SharpSpring, and Act-On.

Marketing Resource Management (MRM) Market, by Solution:

Marketing analytics segment will be most lucrative till 2026

The marketing analytics segment will have a dominating share in the global market, and it is expected to register a significant revenue during the forecast timeframe. The increased market competition from prevailing competitors with added threats caused by new entrants, it is necessary for firms to be extremely decisive in developing strategies and campaigns. The marketing analytics segment provides companies with detailed market information in both qualitative and quantitative data form, helping firms analyze the market as well as facilitating the decision-making process.

Marketing Resource Management (MRM) Market, by End customer:

Small and medium-sized businesses segment to witness the highest growth

Small and medium-sized businesses are expected to have the highest market share in the marketing resource management market globally. Due to advancements in technology, MRM software has become more affordable, making them available for small and medium-sized businesses as well. Due to excess competition and desire to acquire more market share, small and medium-sized businesses are incorporating MRM software to help them in understanding the market better. Also, small and medium-sized businesses have low availability of resources, making it tough to compete with market leaders, but the MRM systems help them in optimum utilization of resources by helping the business houses in implementing the correct strategies.

Marketing Resource Management (MRM) Market, by Deployment:

Cloud segment will register a significant growth till 2026

The cloud segment will grow exponentially in the marketing resource management market for the forecast period, while the earlier on-premise MRM systems required huge investments and also had issues regarding inappropriate tech support. The cloud has brought a revolution in the MRM systems as they are available at extremely low costs and don’t occupy any space for technical equipment. Also, they provide a complete range of facilities. Further, they help the businesses to focus on their main operations as a third-party vendor provides the software, so its complete maintenance work and upgradations are carried out by vendor only. The MRM market trend shows that the majority of the investments for cloud-based MRM software come from small and medium-sized businesses.

Marketing Resource Management (MRM) Market, by Industries:

The retail segment will register the maximum growth

The retail segment is anticipated to grow at a significant rate in the Marketing resource management market. Due to increased competition and availability of various sellers, the retail sector is looking after using multiple channels to market their products and increase awareness amongst consumers. The retail segment is tapping opportunities on various offline and online platforms both and is using social media to influence people. Also, the need to go digital has eventually led to the development of individual websites. All these factors have increased the MRM systems usage in the retail sector for improving the quality of campaigns and advertisements by helping in choosing the right strategy and the right communication channel.

Marketing Resource Management (MRM) Market, by Region:

North America region will have exponential growth in the global market

North America region is anticipated to grow exponentially in the global Marketing resource management market. The region is experiencing an immense amount of technological advancement, which includes usage of MRM systems to reduce unnecessary work and increase focus on their main tasks. Also, the presence of key players like Oracle, Percolate Industries, Inc., and Adobe has promoted the usage of MRM’s in daily work. Furthermore, the region has multiple large-scale firms that require MRM software to keep track of marketing resources and activities.

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Key Participants in the Global Marketing Resource Management Market:

Merger & acquisition and advanced product development are the frequent strategies followed by the market players

Some of the significant marketing resource management market players include Oracle, Aprimo US LLC, Workfront, Inc., SAP, HCL Technologies Limited, BrandMaker, Percolate Industries, Inc., Allocadia Software Inc., SAS Institute Inc., Adobe

Marketing resource management market players are concentrating more on merger & acquisition and advanced technological innovation. These are the strategies followed by emerging as well as established organizations. To emphasize more on the competitive analysis of market players, the Porter’s five force model is explained in the report.

Source: Research Dive Analysis