Market Scenario:
As per Market Research Future (MRFR) analysis, the Multichannel Marketing Industry Share size is projected to grow at approximately USD 28 billion at a CAGR of 24% from 2017 to 2023 (forecast period). The study provides a systematic and comprehensive assessment of the effects of COVID 19 on present and future economic conditions. The report discusses some of the major market factors that will affect the development of the sector, such as market share, the emerging region, and key players.
COVID-19 Analysis:
The business impact of SARS-CoV-2 has been felt across diverse sections of the information technology industry, albeit at different levels. Companies in the technology sector that supply services for verticals like travel, retail, hospitality, and entertainment have noted a dramatic decrease in sales, while the firms that provide services related to remote worker solutions have observed the opposite. Multichannel Marketing Industry fate post pandemic has been relatively less grim compared to Education Services (ES) and Professional Services (PS) that are mostly dependent on components that are generally on-site. Novel coronavirus has Multichannel Marketing Industry to open new avenues for those firms that are on the lookout for solutions that are reliable, efficiently managed, scalable, and are subscription-based, to remain more focused on the core business. The Multichannel Marketing Industry is bearing lesser impact of the COVID-19 outbreak compared to most other segments of the tech world.
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Segmentation:
Based on channel type, the multichannel marketing market has been segmented into direct selling, selling through intermediaries, dual distribution, reverse channel, and others. Selling through intermediaries and dual distribution channels account for a large market share in the multichannel marketing industry. Selling through intermediaries enhance enterprise sale by focusing on the strengths of the enterprise. It helps the organization in identifying economies scale by finding the economy generating products or services. Selling through intermediaries reduce risk mitigation of enterprise by analysing the business operation.
Based on the marketing platform, the multichannel marketing market has been segmented into mobile devices, text messages, email, company website, social media, SEO, GPS, push notification, and others.
Based on advertising type, the multichannel marketing market has been segmented into brand marketing and multichannel advertising agency.
Based on vertical, the multichannel marketing market has been segmented into government, BFSI, healthcare, travel and hospitality, retail, automotive, IT & telecommunication, and others. The IT & telecommunications and retail sector have a large market share in the multichannel marketing industry.
Competitive Analysis:
The key participants identified by MRFR operating in the multichannel marketing market are- Grey Advertising (U.S.), Wieden+Kennedy (U.S.), Butler, Shine, Ogilvy & Mather (U.S.), BBDO (U.S.), Crispin Porter + Bogusky (U.S.), Stern & Partners (U.S.), The Martin Agency (U.S.), Deutsch (U.S.), Droga5 (U.S.), Mullen Advertising (U.S.), among others.
Regional Analysis:
The regional analysis of multichannel marketing market is being studied for regions such as Asia Pacific, North America, Europe, and the Rest of the World.
The North American region is projected to have the highest market share in the multichannel marketing industry due to the involvement of major multichannel marketing companies. Rising competition between companies and growing retail stores is one of the significant drivers of multichannel marketing in the region. The Asia Pacific region is rising at the highest CAGR rate due to an increase in the e-commerce sector, increasing competition, and a rising IT landscape which is spurring the market in the region.
Table of Contents:
1 Executive Summary
2 Scope of the Report
2.1 Market Definition
2.2 Scope of the Study
2.2.1 Research objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
Continued….
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