Marketing resource management tipped to hit US$9bn in 2020

New research shows growing demand for MRM technology platforms, which incorporate marketing performance and financial management, operational analytics and reporting

The growing Marketing Resource Management (MRM) market will hit US$4.46 billion this year and be worth more than $9 billion by 2020, new research claims.

According to the report Marketing Resource Management Market by Solution - Global Forecast to 2020, published by MarketsandMarkets, the MRM space will grow 15 per cent annually between now and 2020 thanks to the enhancement and innovation of technology in this space.

MRM covers the processes that improve and enhance marketing operations management. Gartner defines these as strategic planning and financial management, creative production management, knowledge management, digital asset management, marketing fulfilment and marketing performance management.

Key drivers for MRM uptake include the desire for agile marketing solutions, along with need to integrate marketing with other systems, MarketsandMarkets said.

While the US is expected to become the largest market for MRM investment, Asia-Pacific and Europe should also see growing market traction over the next five years, MarketsandMarkets said.

“With the high adoption of innovative technologies in organisations, the need for MRM has been strengthened among various enterprises and SMEs,” the report stated.

“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.”

The emergence of SaaS-based solutions and demand for integrated marketing management solutions is also fuelling demand and helping bring MRM down from the enterprise space into mid-market and SME organisations, MarketsandMarkets stated.

However, lack of cost visibility while implementing MRM solutions, along with insufficient interest in the top tiers of management for MRM, remain major hurdles to overcome.

According to Gartner’s annual Magic Quadrant study on MRM released in February, leading vendors in this space include SAS, Teradata, Info, SAP and Brandmaker.

In April, Adobe partnered with Microsoft Dynamics to integrate its Marketing Cloud with the software giant’s CRM platform including Microsoft's MRM capabilities.

Follow CMO on Twitter: @CMOAustralia, take part in the CMO Australia conversation on LinkedIn: CMO Australia, join us on Facebook: https://www.facebook.com/CMOAustralia, or check us out on Google+: google.com/+CmoAu

Join the CMO newsletter!

Error: Please check your email address.
Show Comments

Supporting Association

Blog Posts

Disruption Down Under – What’s Amazon’s real competitive advantage?

Savvy shoppers wait in anticipation, while Australian retailers are gearing up for the onslaught. Amazon’s arrival is imminent.

Change across the board: Why boards need to digitally evolve

Traditionally the non-executive board of a company acts in an advisory capacity - attending monthly board meetings to offer overarching advice and guidance typically focusing on:

Jodie Sangster

CEO, ADMA

The most desirable customers you’ve overlooked

“What will really move the needle?” This is a question that keeps leaders awake at night. And at the intersection of some of their top priorities – finding pockets of growth, redefining the customer experience, and making an emotional impact – lies a latent market: Their diverse customers.

Being aware of regulations or guidlines is just the start. As our CEO Emma Lo Russo stated exactly two weeks ago at an event we supported...

Alan Smith

​Are the Wild West days of influencer collaboration over?

Read more

Rebranding is always nice solution to get better organisation. Businessman may apply certain special services (for example, https://www.l...

David Hill

CMO interview: Spearheading the global rebranding of OFX

Read more

Thank you so much for sharing this article.Top Digital Marketing company in Bangalore

Way To DM

Predictions: 17 digital marketing trends for 2017

Read more

Thanks for the great article Jodie, agree many boards and senior execs are operating in outdated modes, just as we need some reverse soci...

sharyn

Change across the board: Why boards need to digitally evolve - Data-driven marketing - CMO Australia

Read more

I'm looking forward to Marketo moving toward providing these type of engagement metrics. The vision is there - what happens next to the p...

Emily Dick

Marketo CEO: Stop using outdated metrics, start basing marketing on engagement

Read more

Latest Podcast

More podcasts

Sign in