HubSpot (US), Marketo (US), TechTarget (US), Demandbase(US) and InsideView (US) are the Prominent Players in ABM Market - Report by MarketsandMarkets™

According to recent research "ABM Market by Account Type (Strategic ABM, ABM Lite, and Programmatic ABM), Component (Tools and Services), Deployment Model (On-Premises and Cloud), Organization Size (Large Enterprises and SMEs), Industry Vertical, and Region - Global Forecast to 2023", The global ABM market size is expected to grow from USD 651.9 million in 2018 to USD 1,196.9 million by 2023, at a Compound Annual Growth Rate (CAGR) of 12.9% during the forecast period. Major growth factors for the market include the growing focus on identifying the right audience, growth of social media and social advertising, and increased customer lifetime value. Various opportunities present in this market include increasing adoption of cloud-based solutions and growing impact of AI and big data analytics on ABM.

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Strategic ABM account types to grow at the highest CAGR during the forecast period

The global ABM market’s 3 major types are strategic ABM, ABM Lite, and programmatic ABM. The strategic ABM account type is expected to grow at the highest CAGR during the forecast period,due to an increasing need to focus largely on bigger accounts and target individuals directly in the company. With customer loyalties shrinking, strategic ABM would help marketers expand business loyalties and increase the net basket of the customer.

Government and public sector industry vertical to grow at the highest rate during the forecast period

Industry verticals, including media, telecommunications and IT, BFSI, retail, and eCommerce, healthcare and life sciences, autmotive and manufacturing, government and public sector, and others (education, construction and engineering) adopt ABM tools and services. Government and civil service agencies adopt ABM tools and services to understand customer behavior from the managed big data. Government and public sector organization focus on customer-centric strategies to enhance customer satisfaction. They adopt ABM services to leverage new data capabilities for clients in the public sector which shows increased interest in targeting specific job functions.

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North America to dominate the global ABM market during the forecast period

North America is expected to hold the largest market size in the global ABM market by region, as ABM solutions have already penetrated the region. High spend on new technologies drive the market growth in North America. In the region, the percentage of social media users, smartphone users, and ad spending is exceptionally high. Mobile device penetration in the US is more than 90%, followed by Canada, which has given the eMarketers a stronger channel to target the potential customers. All the industry verticals, such as BFSI and media and telecom are expected to adopt ABM practices significantly in their processes.

The report also covers various growth strategies, such as acquisitions, partnerships, new product launches, and product upgradations, adopted by the major players to increase their market shares. Major technology vendors include Demandbase (US), InsideView (US), 6Sense (US), Act-On Software (US), AdDaptive Intelligence (US), Albacross (Sweden), Celsius GKK International (France), Drift (US), Engagio (US), Evergage (US), HubSpot (US), Integrate (US), Iterable (US), Jabmo (France), Kwanzoo (US), Lattice Engines (US), Madison Logic (US), Marketo (US), MRP (US), Radius Intelligence (US), TechTarget (US), Terminus (US), Triblio (US), Uberflip (Canada), and Vendemore (Sweden).

Marketo is a leading player in the ABM market. Inorganic and organic growth strategies have helped Marketo to improve its ABM product and service offerings as well as cater to a broader customer base. For instance, in April 2018, Marketo acquired Bizible, a provider of marketing performance management software. With this acquisition, Marketo would create high-class customer engagement programs which can help marketers plan, engage, and measure opportunities for increasing ROI. The company is also on an expansion mode and opening local and global offices. For instance, in January 2018, Marketo expanded its business operations by opening a new office in Colorado, US. The new office would strengthen Marketo’s presence in Colorado. In September 2018, Adobe has signed a definitive agreement to acquire Marketo. Acquisition of Marketo by Adobe would help Marketo augment its growth and expand globally.

HubSpot sells cloud-based marketing and sales software platforms. The software platform features integrated applications to accelerate businesses, attract visitors to their websites and convert prospects into leads, and close leads into customers and delight customers by providing customized services. The company is headquartered in the US and caters to more than 41,593 customers, operating in more than 90 countries across the Americas, Europe, and APAC. The company has followed both inorganic and organic strategies to expand its market share. For instance, in February 2018, HubSpot partnered with Google by adopting Google Cloud to expand its international cloud infrastructure. With this partnership, HubSpot would be able to provide its customers increased data security, invest more in its current Google Cloud product integrations, and accelerate the growth of its HubSpot CRM.

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