Marketing Technology Market Size, Share, Growth, and Industry Growth by Type (Digital Marketing and Offline Marketing) By Application (Retail and E-Commerce, Healthcare, Infrastructural, Media and Entertainment, Sports and Events, Transportation and Logistics, BFSI, and Others) Regional Forecast By 2031

Updated On: 01 April 2024

Marketing Technology Market Report Overview

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The global marketing technology market size is estimated to be USD 167.831 billion in 2021.  As per our research, the market is projected to touch USD 641.74 billion in 2031, exhibiting a CAGR of 14.03% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with marketing technology experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.

Marketing technology is the business-to-business (B2B) marketing industry’s term regarding modern marketing activities. It is software that helps to execute marketing activities. It is also known as MarTech.

Global digitalization and the rise in need for an improved experience on several online channels. Increased need for online engagement between customers and businesses. Huge investment by major market players in developing online platforms. Growing demand for digital marketing and several acquisitions among market players. These factors are estimated to fuel market progress over the forecast period. Further, the rapid adoption of automation for better optimization of marketing plans such as email marketing, social media marketing, and ad campaigns, creates high efficiency in marketing.  Increased revenues and sales in an automated manner are predicted to surge market growth. A rise in the rate of internet and development in the IT sector is projected to fuel market growth. On the contrary, the high cost of marketing technology is valued to obstruct market performance throughout the estimated years.

COVID-19 Impact: Rapid Digitalization and Working from Home Culture to Fuel Market Growth

The rapid transition to online channels for information and rapid digitalization during the pandemic fueled the market growth. Huge demand for a superior quality experience and increased customer engagement on online channels. Further, working from home due to lockdown restrictions and online advertising. These factors surged market growth during the pandemic period.

LATEST TRENDS

"A rise in Rate of Internet Usage and Rapid Technological Advancements to Foster Market Progress"

The rising rate of internet users globally and rapid technological advancements are estimated to push market growth. Inclined consumer preference for digitalization and ongoing digital innovation is projected to foster market growth. Extensive use of smartphones, tablets, PC, and other gadgets is anticipated to accelerate market progress. Several competitions in digital marketing and huge funding for the development of online platforms are expected to boost market progress in the forthcoming years. Further, the rapid adoption of automation for better optimization of marketing plans such as email marketing, social media marketing, and ad campaigns, creates high efficiency in marketing. 

Marketing Technology Market Segmentation

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• By Type

Based on type, the market is divided into digital marketing and offline marketing.

Digital Marketing is estimated to be the leading part of the type segment.

• By Application

Based on the application, the market is divided into retail and e-commerce, healthcare, infrastructural, media and entertainment, sports and events, transportation and logistics, BFSI, and others.

Retail and e-commerce are expected to be the top part of application segmentation.

DRIVING FACTORS

"High Need for Content Marketing to Surge Market Progress"

Increased demand for content marketing and a high need for automating and streamlining time-intensive is predicted to surge market progress. The software helps to execute marketing activities and the huge need to create awareness regarding a brand or business. The software offers to perform marketing activities which will help to increase sales and revenues. With advanced marketing strategies, businesses are getting stable customers. Increased revenues and sales in an automated manner are predicted to surge market growth. A rise in the rate of internet and development in the IT sector is projected to fuel market growth. With the help of proper content, marketing businesses are creating brand awareness and the ability to connect with their respective customers. These factors are estimated to fuel marketing technology market growth in the forthcoming years.

"Steady Shift in Consumer Behavior with Changing Technological Trends to Propel Market Growth"

The steady shift in consumer behavior with changing technological trends and rapid technological advancement is estimated to propel market growth. Global digitalization and the rise in need for an improved experience on several online channels. Increased need for online engagement between customers and businesses. Huge investment by major market players in developing online platforms. Growing demand for digital marketing and several acquisitions among market players. These factors are estimated to fuel market progress over the forecast period.

RESTRAINING FACTORS

"High Cost of the Marketing to Harm Market Growth "

The high cost of marketing technology is valued to obstruct market performance throughout the estimated years.

Marketing Technology Market Regional Insights

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"Presence of Several IT Companies in North America to Drive Market Share "

North America is estimated to account for the marketing technology market share owing to the presence of major IT companies. Rapid digitalization and a high need for content creation for improved marketing. A high need to provide superior customer experience and a rising focus on data-driven analysis is estimated to surge market growth.  Increased revenues and sales in an automated manner are predicted to surge market growth. A rise in the rate of internet and development in the IT sector is projected to fuel market growth.

KEY INDUSTRY PLAYERS

"Leading Players Adopt New Strategies to Stay Competitive"

The report covers information about the list of market players and their latest development in the industry. The information includes mergers, partnerships, acquisitions, technological developments, and production lines. Other aspects examined for this market include complete research on companies producing and introducing the latest products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.

List of Market Players Profiled

• SAP (Germany)
• Scanbuy (U.S.)
• Aptean (U.S.)
• Oracle (U.S.)
• 6Sense (U.S.)
• Foursquare Labs (U.S.)
• ActiveCampaign (U.S.)
• Bazaarvoice (U.S.)
• Microsoft (U.S.)
• Adobe Inc. (U.S.)
• Acoustic (U.S.)
• Hubspot (U.S.)
• Artesian Solutions (U.K.)
• Google (U.S.)
• NICE Ltd. (Israel)
• Amdocs (U.S.)
• Salesforce (U.S.)
• Cisco (U.S.)
• In Market (U.S.)
• Acidaes Solutions (India)

REPORT COVERAGE

This research profiles a report with general studies that explain the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by examining the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, and others. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.