The global martech market size reached USD 245.64 Billion in 2021 and is expected to register a revenue CAGR of 44.4% during the forecast period, according to latest analysis by Emergen Research. Increasing digital transformation, rapid technological advancements, and steady shift in consumer behavior with changing technological trends such as omnipresent communication are some key factors driving market revenue growth. Major companies have shifted focus from customer acquisition to customer retention and growth, especially following the COVID-19 pandemic and lockdowns, whereby consumers rapidly transitioned to online channels for information, connections, and entertainment. Increasing customer engagement on online channels and high demand for superior quality experience, which requires intelligent handling solutions and secure collection of customer data, are some of the other major factors driving revenue growth of the market.
The study on the Global Martech Market is the latest report covering the impact analysis of the currently ongoing COVID-19 pandemic. The pandemic has directly affected the market by causing disruptions in the global supply chains and indirectly by inducing financial difficulties. The Martech market has witnessed dynamic changes in trends and demands owing to the ongoing COVID-19 pandemic. The report provides a detailed outlook on how the pandemic has affected the key segments of the Martech industry. The report includes an in-depth impact analysis of the COVID-19 pandemic on the overall Martech industry. The research study provides historical data from 2017 to 2018 and offers accurate forecast estimation until 2030. The report also profiles established and emerging players of the market, covering the business overview, product portfolio, strategic alliances, and business expansion strategies.
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Some Key Highlights From the Report
- Digital marketing segment accounted for a relatively large revenue share in 2021. Rising demand for improved experience on various online channels with proper tracking of online journey of customer is a key factor driving revenue growth of the segment. Increasing online engagement between customer and brand, whether Business-to-Business (B2B) or Business-to-Customer (B2C), is one of the primary reasons for high-value investments by major companies in digital transformation. High-quality user experience and productivity are key factors for various enterprises to utilize more advanced and scalable martech solutions.
- Content marketing tools segment accounted for a major revenue share in 2021. Rising demand for automating and streamlining time-intensive processes for improved productivity as well as marketing campaigns with faster responses, and real-time analytics are key factors driving demand for martech solutions. Increasing demand for various core marketing strategies such as Content Management System (CMS), Data Management Platform (DMP), and Customer Relationship Manager (CRM), among others to gain audience insights for result-driven marketing campaigns are expected to support revenue growth of the segment over the forecast period
- Information technology segment accounted for a significantly large revenue share in 2021. High demand for automation of business process digitization, segmentation, insights generation, content creation, and faster turnaround, especially in B2B companies, is a key factor driving revenue growth of this segment. Rising focus on providing superior customer experience and demand for data-driven analytics and insights has made martech solutions an essential requirement and the trend is expected to continue going ahead.
- Rising rate of Internet usage and rapid technological advancements are key factors driving demand for martech in North America. The U.S. is at the forefront of digital innovation and transformation with presence of major technological companies, making it one of the most digitally competitive countries. Increasing funding for development of platforms which would support content marketing and improved customer insight with User Experience (UX) analytics to identify issues and conversion barriers between clicks is expected to support revenue growth of the market in region.
Leading Companies of the Martech Industry and Profiled in the Report are:
Apple, Google, Microsoft, Qualcomm Technologies, Inc., Estimote, Inc., Zebra Technologies, InMarket, Tackle.io, Foursquare, and Unacast.
According to research, majority of customer interactions occurred through digital channels in July 2020, which was 36% higher than a few months prior. Increasing competition in the market and a number of new entrants is expected to boost demand for martech solutions. Rapid adoption of automation for better optimization of marketing plans and campaigns is expected to continue to support revenue growth of the market. Automation of tasks such as email marketing, ad campaigns, and social media posting enables higher efficiency and a more personalized experience for consumers, which boosts customer experience and scalability of business, and companies are realizing the potential and deploying new solutions.
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Furthermore, the report divides the Martech market into key segments and sub-segments to offer an analysis of the product type and application spectrum of the industry. It also offers predictions about the segments expected to show significant growth during the projected timeline.
Emergen Research has segmented the global martech market on the basis of application, product, end-use, and region:
· Application Outlook (Revenue, USD Billion; 2019-2030)
- Digital Marketing
- Offline Marketing
- Others
- Social media tools
- Content marketing tools
- Rich media tools
- Automation tools
· Product Outlook (Revenue, USD Billion; 2019-2030)
- Data & analytics tools
- Sales enablement tools
· End-Use Outlook (Revenue, USD Billion; 2019-2030)
- Information technology
- Retail & e-commerce
- Healthcare
- Media & entertainment
- Sports & events
- Banking, Financial Services and Insurance (BFSI)
- Others
Regional Analysis:
The report sheds light on the region expected to dominate the Martech market in the coming years. The report estimates the market size in terms of volume and value and offers an accurate estimate of the market share each region is anticipated to hold during the forecast period. The report analyzes the spread of the Martech market in key geographies covering North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The regional analysis offers an idea about the production and consumption pattern, import/export, supply and demand ratio, revenue contribution, market share and size, and the presence of prominent players in each region.
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The report covers key points of the market, including the standards, regulations, and policy changes applied by the government on the industry for the coming years. The report encompasses thorough research carried out by the application of advanced analytical tools such as SWOT analysis and Porter’s Five Forces analysis to pinpoint the growth trends and patterns. Factors likely to influence the growth of the market, current trends, opportunities, restraining factors, and business landscape are discussed in-depth in the market study.
Key Points of Martech Market:
- Extensive coverage of the analysis of the Martech market
- Key insights into the regional spread of the industry in key geographies
- Radical insights into the vital market trends; both current and emerging trends, and factors influencing the growth of the market
- Comprehensive coverage of the impact of the COVID-19 pandemic on the overall growth of the Martech market
- Complete data about the key manufacturers and vendors in the Martech market
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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