Account-Based Marketing Market size is estimated to grow at a CAGR of 14.1% during the forecast period.
Account-based marketing (ABM) is also known as key account marketing, where it offers organizations to have proper align marketing activity with some strategies. The process involves communicating with an individual prospect to improve account relevance. This system also analyzes the accounts and gives the best marketing value. In business organizations, ABM plays a pivotal role in expanding sales. It properly manages the team by providing relevant information regarding the accounts. IT industry is currently seeking advantages from this approach.
Dynamics of Account-Based Marketing Market
Increasing demand to identify the right customers for the organizations is a key driving factor for the market to grow. Growing prevalence to provide a better experience for the consumers is also accelerating the demand of the market. The emergence of this technology in civil services is additionally propelling the growth of the Account-Based Marketing Market.
However, lack of sufficient knowledge in the utilization of the market strategies is slowly degrading the demand of the market. Some organizations are still working on traditional methods due to less awareness over the benefits of the latest technology is limiting the demand of the market.
Increasing demand for social media is a plus point for marketing as they can promote products through advertisements is creating chances for market growth. Rise in support from the IT industry is also leveraging the growth of the market. Also, growing investments in private organizations to improve productivity is fueling the demand for the Account-Based Marketing Market.
On the basis of deployment model, Cloud-based technology is ruling the highest shares of the market
Cloud-based technology is witnessed in leading the highest shares of the market. The rise in the demand for big data is and enabling better IT solutions is ascribed to bolster the demand of the market.
On the basis of component, the Services segment is registered with highest CAGR in recent years and also to continue the same flow in coming years
The services segment is having the highest growth rate with the increasing priority to follow specific strategies.
North America is having the highest shares of the market from the past decade
North America is accounted in holding the highest shares of the Account-Based Marketing Market with the rise in the acceptance of modern technologies rather than traditional functionalities. In addition, increasing support from the IT sector in launching various software in favor of the end-user is surging the growth of the market. The Asia Pacific is leading with the highest shares of the market. Growing demand to manage big data through cloud-based technologies is escalating the growth of the market. One more factor prompting the demand of the market in this region is rising scalability and also marketing services. Europe is witnessed in having the fastest growth rate and it is expected that it is hit highest CAGR in the coming years. Shifting trend towards targeted specific job functions is boosting up the demand of the market. The Middle East and Africa are inclined to have better growth opportunities in the foreseen years.
Leading companies operating in the Global Account-Based Marketing Market profiled in the report are:
Request Sample To Avail TOC of the report
Request Sample To Avail List of Tables and List of Figues of the report