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New York, USA, Feb. 28, 2023 (GLOBE NEWSWIRE) — According to the newly published Research Dive report, the global through-channel marketing software market accounted for $596.4 million in 2018 and is projected to grow at a CAGR of 29.4% in the 2019-2026 timeframe. This comprehensive Research Dive report presents a brief outlook of the current framework of the through-channel marketing software market including its priority features like growth drivers, growth opportunities, restraints, and hindrances during the forecast timeframe of 2019-2026. The report also contains all the crucial market figures to help new entrants understand the market easily.
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Dynamics of the Market
Drivers: In the recent years, in order to reach end customers, there has been a growth in the number of marketing channels across the globe. This growth is expected to translate in the rise of the through-channel marketing software market in the forecast period. Additionally, increasing pace and scope of digitization is anticipated to push the market forward.
Opportunities: The adoption of Artificial Intelligence (AI) and Machine Learning (ML) is predicted to offer numerous growth opportunities for the market in the forecast period. Moreover, the economical and efficient manner in which the through-channel marketing software can measure the outcomes of the advertisements and local marketing messages is expected to help the market register substantial growth in the coming period.
Restraints: However, according to market analysts, security and privacy concerns for confidential data might become a restraint in the growth of the through-channel marketing software market.
Segments of the Market
The Research Dive report has fragmented the through-channel marketing software market across different segments such as component, deployment type, end use, industry, and region.
Component: Software Sub-segment to be the Fastest Growing
By component, the software sub-segment is expected to be the fastest growing one and register a revenue of $2,328.3 million by 2026. The ability of software to enable the company to execute its digital marketing campaign, manage its branding, track performance, etc. is predicted to help in the growth of this sub-segment.
Deployment Type: Cloud-based Sub-segment to be Highly Lucrative
By deployment type, the cloud-based sub-segment is predicted to witness rapid growth and surpass a revenue of $2,392.3 million by 2026. Increasing preference for cloud-based services due to their accessibility from anywhere with the help of any electronic device is predicted to boost the growth of this sub-segment.
End Use: Small & Medium Enterprises Sub-segment to Witness Immense Growth
By end use, the small & medium enterprises sub-segment of the through-channel marketing software market is expected to flourish immensely and gather a revenue of $2,063.2 million by 2026. Through-channel marketing software helps small and medium enterprises to expand their reach to customers at a very low cost. As a result, many SMEs have started adopting this software, which is predicted to help in the growth of this sub-segment.
Industry: IT & Telecom Sub-segment to be One of the Most Dominant
By industry, the IT & telecom sub-segment is predicted to garner significant market share and grow at a CAGR of 28.3% by 2026. The ability of through-channel marketing software to host the application and make it available to the client in the internet itself has led to a widespread adoption of this software by many IT companies. This rise in adoption is predicted to boost the growth of this sub-segment.
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Market in the North America Region to be the Most Profitable
By regional analysis, the through-channel marketing software market in North America region is anticipated to be the most lucrative and generate a revenue of $1,800.1 million in the forecast period. Presence of large companies and huge target audience is predicted to be the main growth driver of the market in this region.
Prominent Market Players
Some prominent players in the through-channel marketing software market are
- Zift Solutions
- FLOW by TIE Kinetix
- Gage Market Platform
- Impartner PRM
- Ansira Edge Technology Suite
These players are introducing and coming up with new technological advancements and innovations to gain a primacy in the market.
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For instance, in August 2020, Impartner, a leading channel management platform, announced the acquisition of TIE Kinetix’s Through Channel Marketing Automation (TCMA) business. TIE Kinetix is a marketing automation solutions provider and this acquisition will help Impartner to upgrade its channel management platform in a more holistic manner.
Finally, this comprehensive report also summarizes many crucial facets of the global market including product portfolio, latest strategic developments, financial performance of the key players, and SWOT analysis.
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