Which segment accounted for the largest marketing resource management market share?

Marketing Resource Management Industry Overview

The global marketing resource management market size is expected to reach USD 6.89 billion by 2027, according to a new report by Grand View Research, Inc. The market is anticipated to register a CAGR of 11.7% from 2021 to 2027. Marketing Resource Management (MRM) is a cloud-based software that is widely used by organizations for effectively centralizing and managing their marketing operations. It enables organizations to unify brand compliance and marketing workflows and effectively track their Return on Investment (ROI).

Marketing Resource Management (MRM) is a technology used to efficiently handle workforce and associated technology and operations such as planning, production, and design of marketing processes. The emergence of MRM applications has helped businesses in their planning and budgeting activities. By using functionalities such as budgeting and planning, marketing divisions can effectively plan their budgets, define the expense types, and closeouts, among others.

Marketing Resource Management Market Segmentation

Grand View Research has segmented the global marketing resource management market based on solution, services, deployment, enterprise size, end-use, and region:

Based on the Services Insights, the market is segmented into Consulting & Implementation and Training, Support, and Maintenance.

• 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.
• The training, support, and maintenance segment is anticipated to register the highest growth over the forecast period.

Based on the Solution Insights, the market is segmented into Brand & Advertising Management, Capacity Planning Management, Creative Production Management, Financial Management, Marketing Asset Management, Marketing Reporting & Analytics, Project Management, and Others

• The marketing asset management segment dominated the market in 2020 and accounted for more than 15.0% share of the global revenue. They help marketers in digital assets management. 
• 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.

Based on the Deployment Insights, the market is segmented into Cloud and On-premise.

• The on-premise segment dominated the market in 2020 and accounted for more than 55.0% share of the global revenue.
• 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.

Based on the Enterprise Size Insights, the market is segmented into Large Enterprises and Small & Medium Enterprises.

• 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 small and medium enterprises segment is anticipated to register the highest growth over the forecast period. 

Based on the End-use Insights, the market is segmented into BFSI, Consumer Goods & Retail, Healthcare, IT & Telecom, Manufacturing, Media & Entertainment, Travel & Hospitality, and Others.

• The manufacturing segment dominated the market in 2020 and accounted for more than 15.0% share of the global revenue.
• 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.

Marketing Resource Management Regional Outlook

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa (MEA)

Key Companies Profile & 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.

Some of the 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.

Order a free sample PDF of the Marketing Resource Management Market Intelligence Study, published by Grand View Research.