Multichannel Marketing Market Size to Reach USD 28.6 Billion, With a CAGR of 22.3% by 2030 – Report by Market Research Future (MRFR)
Research Reports
Aug 25, 2023
Market Overview:
In 2022, the Multichannel Marketing Market Size reached a valuation of approximately USD 5.69 billion. Looking ahead, the industry’s trajectory is set for substantial expansion, with projections indicating a climb from about USD 6.96 billion in 2023 to a remarkable USD 28.6 billion by 2030. This anticipated growth signifies a robust compound annual growth rate (CAGR) of 22.3% over the forecast period spanning from 2023 to 2030.
The driving forces behind this upward trend include the rapid adoption of digital channels, the integration of personalization techniques, the widespread implementation of marketing automation, and a burgeoning demand for advanced analytics. These factors collectively contribute to the thriving Multichannel Marketing market landscape.
Key Players
Eminent industry players profiled in the global multichannel marketing market report include-
- Grey Advertising (U.S.)
- Crispin Porter + Bogusky (U.S.)
- Shine, Butler, BBDO (U.S.)
- Stern & Partners (U.S.)
- Wieden+Kennedy (U.S.)
- Ogilvy & Mather (U.S.)
- Mullen Advertising (U.S.)
- The Martin Agency (U.S.)
- Deutsch (U.S.)
- Droga5 (U.S.).
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Scope of the Report – Multichannel Marketing Market:
|
Report Metrics |
Details |
|
Market Size by 2030 |
USD 28.6 Billion |
|
CAGR during 2023-2030 |
22.3% |
|
Base Year |
2022 |
|
Forecast |
2023-2030 |
Market Segmentation
The global landscape of multichannel marketing has been categorized based on advertising type, channel type, marketing platform, and application.
In terms of advertising type, the multichannel marketing sector can be divided into multichannel advertising agencies and brand marketing.
When it comes to channel type, the leading position over the forecast period will be held by selling through intermediaries and dual distribution channels. Utilizing intermediaries for sales enhances enterprise outreach by showcasing the company’s capabilities. This approach aids in pinpointing the most revenue-generating products or services, leading to the identification of economies of scale. Moreover, it contributes to risk mitigation by assessing the business operations.
Regarding marketing platforms, the multichannel marketing market exhibits segmentation into various platforms, including company websites, push notifications, GPS, search engine optimization, social media, text messages, email, mobile devices, and other similar platforms.
In terms of application, the IT and telecommunication sector is poised to assert its dominance in the market throughout the forecast period.
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Regional Analysis
North America to Domineer Multichannel Marketing Industry
North America holds the dominant position in the multichannel marketing arena, primarily attributed to the pervasive adoption of cutting-edge technology throughout the region. This tech-savvy environment has spurred the proliferation of multichannel marketing trends as businesses leverage these strategies to cultivate robust customer relationships. Notably, North America commands the largest share in the multichannel marketing market due to its advanced network infrastructure, widespread technological integration, and the prevalent use of multichannel marketing within the retail sector.
The evolution of cutting-edge technology and its positive economic impact have played a pivotal role in driving the adoption of multichannel marketing practices in North America. Additionally, the presence of major corporations from the region actively participating in the multichannel marketing landscape solidifies North America’s leadership position.
The region’s momentum is further accelerated by the increasing utilization of location-based technologies across industries such as retail, gaming, and automotive. Moreover, the growing prominence of social media marketing among brick-and-mortar retailers contributes significantly to the flourishing multichannel marketing market in North America. The competitive landscape, marked by intensified rivalry among businesses and the proliferation of retail establishments, further underscores the influential role of multichannel marketing in the North American business arena.
APAC to Have Significant Growth in Multichannel Marketing industry
The Asia-Pacific region is experiencing remarkable growth in the multichannel marketing market, primarily driven by the surging demand for mobile devices and widespread internet connectivity. This dynamic region is also witnessing economic expansion, further amplifying the demand for multichannel marketing solutions. As businesses intensify their efforts in researching and developing the multichannel marketing sector, the Asia-Pacific market is poised to exhibit one of the most rapid growth rates.
The driving force behind this market expansion in the region is the flourishing IT landscape. Emerging economies like China and India are embracing multichannel marketing on a substantial scale, propelled by their robust IT infrastructure and ongoing industrialization efforts. Additionally, the Asia-Pacific region is experiencing significant market growth due to factors such as the burgeoning e-commerce industry, heightened competition, and the continuous development of its IT ecosystem. Consequently, the Asia-Pacific region is witnessing the highest Compound Annual Growth Rate (CAGR) in the multichannel marketing market.
Browse In-depth Market Research Report (100 Pages, Charts, Tables, Figures) Multichannel Marketing Market– https://www.marketresearchfuture.com/reports/multichannel-marketing-market-3949
COVID-19 Analysis
A lot of businesses are struggling as a result of the COVID-19 outbreak. The lockdown has brought organizations all around the world to a standstill. Furthermore, reaching clients is difficult for firms in this circumstance. However, multichannel marketing strategies assist businesses in connecting with their target audiences. The demand for the multichannel marketing industry is being driven by businesses using multichannel marketing solutions to contact their customers. The covid-19 pandemic was positively impacted by businesses that used social media, email, texts, and other platforms to reach their customers. Because of the lockdown, all of the stores are closed and the vendors are unable to interact with their customers in person. As a result, they are adopting multichannel marketing solutions, which are fueling the market’s expansion.
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