Marketing Resource Management Market Size, Share & Trends Analysis Report By Solution, By Services, By Deployment, By Enterprise Size, By End-use, By Region, And Segment Forecasts, 2021 - 2027

Report Overview

The global marketing resource management market size was valued at USD 3.18 billion in 2020 It is expected to expand at a compound annual growth rate (CAGR) of 11.7% from 2021 to 2027. Market growth can be attributed to the increasing need among businesses to ensure brand and regulatory compliance. The increasing need for reducing cycle time projections through content distribution and duplication is anticipated to further fuel the demand for marketing resource management solutions. Moreover, the increasing diversity in delivery channels has fostered the growth of the market. Marketing Resource Management (MRM) solutions enable businesses to streamline their marketing operations. These operations include brand management, workforce management, financial management, and content management, among others. With a blend of Artificial Intelligence (AI) and Machine Learning (ML) technologies, MRM solutions help marketers take complete control of marketing initiatives and tasks. Nowadays, marketers are focusing on more sophisticated marketing processes, thereby creating demand for MRM solutions in various end-use industries.

MRM solutions are made up of applications and technologies that help coordinate processes, workforces, and assets for marketing. These solutions are widely adopted by enterprises for various functionalities, such as performance management, knowledge management, and strategic planning. The advancements in enterprise technology, coupled with global changes in consumer behavior, are expected to drive the demand for MRM solutions over the forecast period. Furthermore, the increasing consumer demand for digital marketing experiences is expected to propel the market growth.

The marketing resources are expected to increase the integration of big data sets and include connected Internet of Things (IoT) technologies into business operations, thereby creating growth opportunities for the MRM solutions in various end-use industries. Brand managers across the globe are focusing on adopting Marketing Technology (MarTech) in their business operations. These MarTech tools include Content Management System (CMS), Marketing Automation (MA), and Customer Relationship Management (CRM), among others. These tools offer major benefits in terms of performance and asset management.

The absence of cost visibility while implementing marketing resource management applications is expected to hamper the market growth. Furthermore, the lack of trust in new marketing technologies is creating challenges for MRM vendors. However, the outbreak of the COVID-19 pandemic is anticipated to favorably impact market growth. During the pandemic, numerous enterprises have been rapidly applying ML and AI technologies in areas such as project management, strategic planning budgeting, marketing analytics, and media planning execution.

Solution Insights

The marketing asset management segment dominated the market in 2020 and accounted for more than 15.0% share of the global revenue. These solutions help enterprises in controlling brand and marketing assets from a centralized location so that they can be easily shared and searched. They help marketers in maintaining important digital assets. Furthermore, they also help enterprises in handling marketing assets such as presentations, e-mails, and documents.

The brand and advertisement management segment is anticipated to register the highest growth over the forecast period. The segment growth can be attributed to the increasing adoption of these solutions by global companies to increase the perceived value of a brand or product line over time. These solutions help companies in building a loyal customer base, eventually driving the company's profits. Furthermore, they enable brand managers to develop a strategic plan to gain brand value or maintain brand equity.

Services Insights

The consulting and implementation segment dominated the market in 2020 and accounted for more than 55.0% share of the global revenue. The segment growth can be attributed to the growing integration of MRM solutions in marketing business operations. Marketers are more focused on improving business processing speed, streamlining the customer experience, and offering faster results. Marketers need solutions that allow them to effectively manage all their marketing assets as efficiently and fast as possible to keep up with production. This is expected to drive the consulting and implementation segment growth over the forecast period.

The training, support, and maintenance segment is anticipated to register the highest growth over the forecast period. In the current business scenario, MRM solutions are more flexible. These solutions offer customization options to enterprises as per their business needs. Furthermore, these solutions include custom programming, which helps companies evolve with a constantly changing business environment. This is expected to create growth opportunities for the training, support, and maintenance segment over the forecast period.

Deployment Insights

The on-premise segment dominated the market in 2020 and accounted for more than 55.0% share of the global revenue. The adoption of on-premise solutions is high owing to various benefits associated with system configuration and customization options. The on-premise deployment of solutions empowers businesses by giving them ownership of their data. Furthermore, this deployment method allows businesses to manage and have complete control over their system integrations.

The cloud segment is expected to register the highest growth over the forecast period. The growth of the segment can be attributed to the increasing need to manage information in a secure, efficient, consolidated, and remotely accessible manner. The cloud software suites can be easily integrated with the existing systems. Cloud solutions allow businesses to personalize, manage, orchestrate, and optimize cross-channel campaigns across B2C and B2B use cases.

Enterprise Size Insights

The large enterprise segment dominated the MRM market in 2020 and accounted for more than 56.0% share of the global revenue. The adoption of MRM solutions among large enterprises is significantly high as these solutions help large enterprises in effectively managing their extensive product portfolio and allocating marketing budgets. The increasing focus on customer experience is expected to further drive the adoption of MRM solutions in large enterprises. These aforementioned factors are expected to contribute to the growth of the large enterprise segment.

The small and medium enterprises segment is anticipated to register the highest growth over the forecast period. Small and medium enterprises are widely adopting MRM solutions as these solutions allow businesses to track and manage the marketing resources involved in the product life cycle. These solutions help businesses in combining content management systems with digital asset management systems and deliver personalized content to their users. These aforementioned factors are expected to contribute to the growth of the small and medium enterprises segment over the forecast period.

End-use Insights

The manufacturing segment dominated the market in 2020 and accounted for more than 15.0% share of the global revenue. MRM solutions are widely used in the manufacturing industry to effectively store, search, and distribute digital assets. These solutions facilitate asset management and collaboration within and outside the organization. Furthermore, the manufacturing industry is witnessing a shift toward digital campaigns. This is creating growth opportunities for MRM solutions in the manufacturing industry.

The consumer goods and retail segment is anticipated to register the highest growth over the forecast period. The increasing need to target customers and market products based on digital footprint is expected to propel the adoption of MRM solutions in the consumer goods and retail industry. Numerous consumer goods companies and retailers are leveraging the internet by introducing their e-commerce sites, effectively using diverse mediums to connect with their clientele, and using MRM solutions to improve their content distribution across those channels. These aforementioned factors are expected to contribute to the growth of the consumer goods and retail segment over the forecast period.

Regional Insights

North America dominated the marketing resource management market in 2020 and accounted for over 31.0% share of global revenue. The regional market growth can be attributed to the presence of prominent market players in the region. The increasing adoption of advanced technologies to effectively streamline workflows and reduce manual tasks among North American enterprises is expected to further drive the regional market growth. In North America, the increasing organizational demand for custom-made brand imaging is acting as a growth-inducing factor.

Asia Pacific is expected to emerge as the fastest-growing regional market over the forecast period. The presence of a large number of small and medium enterprises in the Asia Pacific region is anticipated to create growth opportunities for regional market players. The emerging trend of digitization and the growing utilization of cloud-based MRM solutions in the Asia Pacific region is expected to propel the regional market growth. Organizations in the Asia Pacific region are rapidly shifting toward Software-as-a-Service (SaaS) and cloud-based solutions to effectively create a marketing ecosystem that is highly customizable and cost-effective.

Key Companies & Market Share Insights

The market is highly fragmented in nature. The market vendors have adopted different types of inorganic and organic growth strategies, such as partnerships & collaborations, mergers and acquisitions, and new product launches, to expand their offerings in the market. The prominent players in the market are more focused on offering cloud-based and on-premise solutions to large as well as small and medium enterprises. These solutions offer various benefits, such as omnichannel personalization, multivariate testing, and AI-powered automation and scale.

Numerous vendors are focusing on collaborating with other vendors to provide more customer-centric solutions. For instance, in October 2020, Adobe, in collaboration with C3.ai and Microsoft Corporation, launched C3 AI CRM solution powered by Microsoft Dynamics 365. This AI-first CRM solution is purpose-built for various industries and can be integrated with Adobe Experience Cloud. This solution drives customer-related operations with predictive business insights. Some prominent players in the marketing resource management market include:

• Adobe

• Aprimo US LLC

• BrandMaker

• HCL Technologies Limited

• Infor, Inc.

• Microsoft

• Northplains

• SAP SE

• SAS Institute, Inc.

• Workfront, Inc.

Marketing Resource Management Market Report Scope

Segments Covered in the Report

The report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2027. For this study, Grand View Research has segmented the global marketing resource management market report based on solution, services, deployment, enterprise size, end-use, and region:

• 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

• Services Outlook (Revenue, USD Million, 2016 - 2027)

  • Consulting & Implementation

  • Training, Support, and Maintenance

• Deployment Outlook (Revenue, USD Million, 2016 - 2027)

  • Cloud

  • On-premise

• Enterprise Size Outlook (Revenue, USD Million, 2016 - 2027)

  • Large Enterprises

  • Small & Medium Enterprises

• End-use Outlook (Revenue, USD Million, 2016 - 2027)

  • BFSI

  • Consumer Goods & Retail

  • Healthcare

  • IT & Telecom

  • Manufacturing

  • Media & Entertainment

  • Travel & Hospitality

  • Others

• 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