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Marketing Technology Market Share, Opportunities Analysis, Recent Trends, Regional Growth And Outlook By 2033
Marketing Technology Market
The marketing technology market size is expected to see exponential growth in the next few years. It will grow to $1057.07 billion in 2028 at a compound annual growth rate (CAGR) of 21.3%. The growth in the forecast period can be attributed to e-commerce expansion, mobile marketing revolution, cloud computing adoption, metaverse marketing, omnichannel marketing automation. Major trends in the forecast period include martech stack consolidation, sustainability and ethical marketing, martech stack consolidation, conversational marketing, voice search and visual search marketing.
Market Overview -
Marketing technology refers to a set of integrated technologies that enable marketing capabilities and help marketers better engage with customers to automate many of the time-consuming and repetitive tasks. It is used for a wide range of purposes across various industries and business functions to enhance marketing efforts, improve customer engagement and drive business growth.
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Growing Influence Of Digital Marketing On The Marketing Technology Market
The increasing adoption of digital marketing is expected to propel the growth of the marketing technology market going forward. Digital marketing uses digital channels, platforms and technologies to promote products, services, or brands to a target audience. Digital marketing involves using various marketing technologies to promote products, services, or brands through online channels and enhance its effectiveness, efficiency and reach in today's digital landscape. For instance, in October 2022, according to Ranktracker, a US cloud-based SEO management solution company, in 2020 and 2021, digital marketing expenditure increased by 14% and it is anticipated that the digital marketing sector will expand by 9% annually. Furthermore, in 2021, according to Oracle Corporation, a US-based computer software company, digital advertising spending worldwide was estimated to rise from $378 billion in 2020 to $646 billion by 2024. Therefore, the increasing adoption of digital marketing drives the growth of the marketing technology market.
Competitive Landscape -
Major players in the marketing technology market are Apple Inc., Microsoft Corporation, Amazon Web Services Inc., Oracle Corporation, SAP SE, Salesforce Inc., Adobe Inc., Amdocs, Hubspot Inc., Aptean Inc., Tackle.io, Real Chemistry, Zoho Corporation, Acoustic L.P., ActiveCampaign, Crisp Thinking Group Limited., Adjust GmbH, Tableau Software LLC, Mediafly, Convoso Tech International Pvt. Ltd., SOCi Inc., Artesian Solutions Ltd., WebFX Inc., Share Local Media , Buzzoole, ContentGrow, Fullcircl, SpyFu Inc., Konnect Insights, Evergage.
Market Leaders Introduce Ai-Powered Marketing Assistant To Boost Productivity
Major companies operating in the marketing technology market are developing innovative AI marketing technologies, such as AI-powered assistance technology, to deliver growth for the organization. AI-powered assistance technology refers to software programs that use artificial intelligence (AI) to assist users. It uses artificial intelligence algorithms to understand natural language voice commands and complete tasks for the user. For instance, in March 2023, Microsoft Corporation, a US-based technology corporation, launched Dynamics 365 Copilot. This innovative AI-powered assistant can help marketers, customer representatives and other users with their work. Microsoft's GPT-3 language model drives it and has been developed on a vast text and code dataset. This enables Copilot to grasp the context of a discussion, generate text, translate languages, write various types of creative content and provide informed answers to client inquiries. It also aids in the creation of marketing material, the optimization of marketing campaigns, the personalization of marketing messaging and the measurement of marketing results and it is used to boost the productivity of organizations of all sizes.
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Key Segments -
The marketing technology market covered in this report is segmented -
1) By Product: Social Media Tools; Content Marketing Tools; Rich Media Tool; Automation Tool; Data And Analytics Tools; Sales Enablement Tools
2) By Deployment: On-Premise; Cloud
3) By Application: Information Technology And Telecommunication; Retail And E-commerce; Healthcare; Media And Entertainment; Sports And Events; Banking Financial Services And Insurance (BFSI); Real Estate; Other Applications
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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