DALLAS, May 15, 2015 /PRNewswire/ --
According to a new market research report "Marketing Resource Management Market by Solution (Marketing Reporting and Analytics, Capacity Planning Management, Financial Management, Creative Production Management, Project Management, Brand and Advertising Management) - Global Forecast to 2020", published by MarketsandMarkets, Marketing Resource Management (MRM) Market to grow from $4.46 Billion in 2015 to $9.01 Billion by 2020, at a Compound Annual Growth Rate (CAGR) of 15.1%.
Browse 73 market data Tables and 62 Figures spread through 183 Pages and in-depth TOC on"Marketing Resource Management Market"
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Marketing Resource Management (MRM) Market is at its developing stage and is expected to accelerate extensively due to the enhancement and innovation of technology in this sector. Today, with the high adoption of innovative technologies in the organizations, need of MRM has been strengthened among various enterprises and SMBs. Moreover, the substantial rise in the demand of digital marketing solutions has influenced solution vendors to provide various marketing automation solutions such as marketing asset management, and marketing analytics and reporting. Furthermore, the up surging need of marketing integration with other systems has encouraged solution vendors to provide marketing resource management solutions in integration with capacity planning, and project management.
With the changing requirements, enterprises are demanding advanced marketing solutions so as to innovate their marketing activities which eventually help them to improve their business profits. Moreover, the emergence of S-a-a-s based solutions and demand for integrated marketing management solutions are creating opportunities for vendors and other service providers in this market.
However, lack of cost visibility while implementing MRM solutions acts as a restrain for this market. The enterprises are not having clear mindset regarding the cost, as they are not sure of cost they have to bear after implementation of MRM solutions. Further, there has been seen less interest among top management for the MRM usage for their marketing department.
The MRM vendors are offering their product and services to various industry verticals such as media and entertainment, consumer goods, marketing agencies, BFSI, manufacturing, healthcare and others. The factors driving MRM market are the escalating need for agile marketing solutions, and rising need for marketing integration with other systems.
MarketsandMarkets broadly segments the Marketing Resource Management market by regions as North America (NA), Europe, Asia-Pacific (APAC), Middle East & Africa (MEA) and Latin America (LA); by solutions as marketing reporting and analytics, capacity planning management, creative production management, financial management, brand and advertising management, marketing asset management, and project management; by user type as SMB's and enterprise; by industry verticals as BFSI, media and entertainment, consumer goods, public sector, manufacturing, marketing agencies, healthcare, retail, IT and telecom and others.
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MarketsandMarkets forecasts the Marketing Resource Management (MRM) Market to grow from $4.46 Billion in 2015 to $9.01 Billion by 2020, at a Compound Annual Growth Rate (CAGR) of 15.1%. North America is expected to be the largest market in terms of market size, while Europe and Asia-Pacific are expected to experience an increase in market traction during the forecasted period.
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