A New FMI Report Forecasts the Impact of COVID-19 Pandemic on Life Science Multichannel Campaign Management Market Growth Post 2020
Life science multichannel campaign management system helps companies to orchestrate, define and communicate their product offers to customers through social, mobile, call centres, direct mails and websites. Digital marketing is an integral part of multichannel campaign management that includes addressable advertising/branding, transactional marketing and contextual marketing. In short multichannel campaign management is a marketing process that extends through channels like video, web, mobile, kiosks, terminals of point of sales, digital signage and social applications. Global companies have urged for advanced version multichannel campaign management solutions to get the valuable information from the customers and plan for new ways for customer retention and acquisition of new customers. The traditional marketing practices have reformed due to the implementation of such kind of multichannel campaign management solutions implementations. The global life science multichannel campaign management market is expected to expand at a modest CAGR in the forecast period.
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Global Life Science Multichannel Campaign Management Market: Drivers and Restrains
The major drivers for global multichannel campaign management market are trending digital marketing, technological advancements, advanced mobility solutions such as tablets, smartphones, and other kind of hand held devices. Also the ease of marketing through these multichannel campaign management solution and better service to the customer through these solutions are propelling the growth of this market.
However, the restrains for this market can be the factors like rapid technological advancements, due to which the companies needs to keep pace with the upcoming technology and their costly implementation can hamper the global life science multichannel campaign management market. Also most of the customers are still not accessible to the technologies needed to avail the benefits of these kind of multichannel campaign management solutions, this can again act as a barrier in the growth of global life science multichannel campaign management market.
Global Life Science Multichannel Campaign Management Market: Segmentation
On the basis of Services, the global life science multichannel campaign management market can be segmented as follows:
- System implementation
- System integration
- Training & support
- Consulting
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On the basis of applications, the global life science multichannel campaign management market can be segmented as follows:
- Advertising
- Branding
- Promotion
- Selling
On the basis of end-use industry, the global life science multichannel campaign management market can be segmented as follows:
- Pharmaceuticals
- Retail
- Healthcare
- Transportation
- Telecommunications
- Information technology
- Tourism
Global Life Science Multichannel Campaign Management Market: Region Wise Outlook
The global life science multichannel campaign management market can be divided into seven regions, namely North America, Latin America, Western Europe, Eastern Europe, Asia Pacific, Japan and Middle East and Africa. Asia Pacific is the leader in the global life science multichannel campaign management market due to the upcoming retail, transportation and tourism industry in this region. China and India are the major contributors in this region for the growth of the market.
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North America is following Asia Pacific in term of the market share in global life science multichannel campaign management market owing to its ever increasing pharmaceuticals industry and the existing information technology sector. Europe is the next major contributor in the market due to its significant automobile sector and the other retail industry flourishing in this region due to the automobile sector. Latin America and Middle East and Africa are at a nascent stage in global life science multichannel campaign management market but are expected to expand at a significant growth in the forecast period.
Global Life Science Multichannel Campaign Management Market: Key Players
Some of the key players in the global life science multichannel campaign management market are:
- Teradata
- Adobe Systems Incorporated
- Marketo, Inc.
- IBM Corporation
- SAP AG
- Infor
- Salesforce.com
- SAS Institute Inc.
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