The growth of social media and the increasing popularity of mobile advertising are expected to drive the digital marketing software (DMS) market to increase to grow from $37.48bn this year to $74.96bn by 2022.

During the forecast period, according to research from MarketsandMarkets, the media and entertainment industry vertical is expected to hold the largest market size, while social media advertising is expected to grow at the highest compound annual growth rate (CAGR).

The media and entertainment vertical’s growth will be to down to the demand for video, mobile, and social channels. On the back of the growth of these channels, heavy DMS investment is expected in data and analytics, email marketing, marketing automation, messaging, and social media marketing.

Meanwhile, the increasing use of the internet – particularly through social media platforms like Facebook, Twitter, YouTube, Instagram, and LinkedIn – will aid small and medium-sized enterprises and large enterprises in connecting with existing and potential customers in real-time. Furthermore, by advertising via social media, enterprises are able to enhance advertisement performance tracking.

High adoption of DMS across all verticals, with a focus on personalised marketing material, in the US and Canada means North America is expected to be the largest market in the global DMS market. This adoption rate will primarily be down to high budget availability in the region.