Marketing Technology (MarTech) Market

Market Overview:

The global marketing technology (MarTech) market size reached US$ 338 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,175 Billion by 2028, exhibiting a growth rate (CAGR) of 22.2% during 2023-2028. The growing demand for social media management tools, rising employment of chatbots, and increasing need to gain a holistic view of marketing efforts and measure the impact of campaigns among marketers represent some of the key factors driving the market.

Marketing technology (MarTech) refers to tools, platforms, and software applications that enable businesses to automate, streamline, and enhance their marketing efforts. It comprises customer relationship management (CRM) systems, marketing automation platforms, content management systems (CMS), social media management tools, and data analytics software. It offers a wide range of technologies and solutions that assist in planning, executing, analyzing, and managing various marketing activities. It provides marketers with advanced capabilities to target specific audiences, create personalized experiences, measure campaign effectiveness, and optimize marketing strategies. It assists in automating repetitive tasks, updating workflows, and gaining valuable insights from data analysis. It also aids marketers in allocating their time and resources more strategically, focusing on creative and strategic aspects of marketing, and making data-driven decisions to optimize their campaigns. In addition, it helps track customer behavior, and deliver relevant content across various channels, such as email, social media, and websites.

Marketing Technology (MarTech) Market Trends:

At present, the increasing demand for MarTech among various industry verticals to stay competitive, keep pace with rapidly evolving consumer expectations, and adapt to changing market dynamics represents one of the key factors supporting the growth of the market. Besides this, the growing utilization of MarTech to gain a holistic view of marketing efforts, measure the impact of campaigns, and make data-driven decisions for continuous improvement is offering a favorable market outlook. In addition, there is a rise in the demand for MarTech to interact and communicate with colleagues working remotely across the globe. This, along with the increasing demand for MarTech tools that enable personalized marketing, such as customer data platforms (CDPs) and artificial intelligence (AI)-powered marketing automation, is strengthening the growth of the market. Moreover, the growing employment of MarTech solutions to eliminate manual processes and focus on strategic initiatives and creative aspects of numerous tasks is positively influencing the market. Apart from this, there is an increase in the demand for social media management tools that can be integrated with marketing automation platforms to create personalized and targeted campaigns. This, coupled with the rising employment of chatbots powered by artificial intelligence (AI) are widely being used on social media platforms to provide personalized customer service, engage with audiences, and drive conversions, is bolstering the growth of the market.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global marketing technology (MarTech) market, along with forecasts at the global, regional, and country levels from 2023-2028. Our report has categorized the market based on type, product, and application.

Type Insights:

• Digital Marketing
• Offline Marketing
   

The report has provided a detailed breakup and analysis of the marketing technology (MarTech) market based on the type. This includes digital marketing and offline marketing. According to the report, digital marketing represented the largest segment.

Product Insights:

• Social Media Tools
• Content Marketing Tools
• Rich Media Tool
• Automation Tool
• Data and Analytics Tools
• Sales Enablement Tools
   

A detailed breakup and analysis of the marketing technology (MarTech) market based on the product has also been provided in the report. This includes social media tools, content marketing tools, rich media tool, automation tool, data and analytics tools, and sales enablement tools. According to the report, social media tools accounted for the largest market share.

Application Insights:

• IT and Telecommunication
• Retail and E-commerce
• Healthcare
• Media and Entertainment
• Sports and Events
• BFSI
• Real Estate
• Others
   

A detailed breakup and analysis of the marketing technology (MarTech) market based on the application has also been provided in the report. This includes IT and telecommunication, retail and e-commerce, healthcare, media and entertainment, sports and events, BFSI, real estate, and others. According to the report, healthcare accounted for the largest market share.

Regional Insights:

• North America
  • United States
  • Canada
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America was the largest market for marketing technology (MarTech). Some of the factors driving the North America marketing technology (MarTech) market included the early and rapid adoption of advanced technologies, rising number of startups, increasing awareness about the benefits of MarTech, etc.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global marketing technology (MarTech) market. Detailed profiles of all major companies have been provided. Some of the companies covered include Acoustic L.P., ActiveCampaign, Adobe Inc., Aptean Inc., Hubspot Inc., Microsoft Corporation, Oracle Corporation, Salesforce Inc., SAP SE, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Report Coverage:

Key Questions Answered in This Report:

• How has the global marketing technology (MarTech) market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global marketing technology (MarTech) market?
• What is the impact of each driver, restraint, and opportunity on the global marketing technology (MarTech) market?
• What are the key regional markets?
• Which countries represent the most attractive marketing technology (MarTech) market?
• What is the breakup of the market based on the type?
• Which is the most attractive type in the marketing technology (MarTech) market?
• What is the breakup of the market based on the product?
• Which is the most attractive product in the marketing technology (MarTech) market?
• What is the breakup of the market based on the application?
• Which is the most attractive application in the marketing technology (MarTech) market?
• What is the competitive structure of the global marketing technology (MarTech) market?
• Who are the key players/companies in the global marketing technology (MarTech) market?

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the marketing technology (MarTech) market from 2017-2028
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global marketing technology (MarTech) market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the marketing technology (MarTech) industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.