Enterprise Need for Stronger Global Branding Bodes Well for the Marketing Optimization Market Frost & Sullivan finds vendors follow the SaaS model to reduce costs, as the global market more than triples by 2017
MOUNTAIN VIEW, Calif., Sept. 24, 2013 /PRNewswire/ -- The increasing need among organizations to streamline marketing efforts and create a strong global brand boosts the global marketing process optimization solutions (MPOS) market. North America is the largest contributor to revenues, while the continued globalization of brands and development of regional economies makes Asia the fastest-growing regional market in the next five years.
New analysis from Frost & Sullivan's (http://www.digitalmedia.frost.com) Global Marketing Process Optimization Solutions Market research finds the market earned revenue of $756.7 million in 2012 and estimates this to reach $2.7 billion in 2017. On-premise deployments dominate, primarily due to preferences of the banking and financial services industry.
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Globalization has compelled organizations to localize marketing and brand promotion processes to target regional markets. With the advent of new communication channels such as mobile marketing and social media, a unified platform to organize campaigns is also essential. As a result, flexible, scalable solutions that cater to each organization's unique requirements are gaining acceptance.
"The utility of MPOS solutions is attested by the fact that huge technology firms such as IBM, Teradata and Adobe are investing in these technologies," said Frost & Sullivan Digital Media Senior Research Analyst Sathya Subramanian. "The potential for new competitors widens in the next five years as small and medium business units begin to use these solutions as well."
In fact, the biggest challenge in the market today is encouraging these smaller businesses to employ MPOS. Many of these firms do not have a structured marketing workflow and expect a simple software deployment to help meet all of their marketing goals without giving much thought to process planning or resource allocation. This lack of alignment between technologies and processes acts as a barrier to adoption.
The economic downturn adds to market woes, particularly in Europe. Low awareness of the value MPOS can bring to an organization further stalls uptake, especially among companies in growing economies in Asia.
Vendors are responding to these challenges by educating businesses on the benefits of MPOS. Solution providers are also offering MPOS using the software as a service (SaaS) model, thereby decreasing overall costs and spurring sale volumes.
"SaaS deployments disperse otherwise cumbersome upfront investments on equipment as well as typically large, perpetual licensing fees," observed Subramanian. "With the rising popularity of this model, the average annual expenditure by an enterprise on an MPOS system will trend significantly downwards."
Simple and easy-to-navigate user interfaces will emerge as a key product differentiator for MPOS vendors to succeed in this fast-evolving landscape.
Global Marketing Process Optimization Solutions Market is part of the Digital Media Growth Partnership Service program, which also includes: Media Workflow and Resource Management: The Roadmap to Revenue Growth and Reduced Complexity, Analysis of the Global Dynamic Publishing Solutions Market, Social Media Marketing – An Essential Tool, and Global Enterprise Content Management Market. All research services included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.
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Global Marketing Process Optimization Solutions Market
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SOURCE Frost & Sullivan