May27 , 2024

USD 1744 Billion Marketing Technology (MarTech) Market Reach by 2032


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Marketing Technology (MarTech) Market

Significant growth in automation and rich media tools are augmenting the market growth.

PORTLAND, PORTLAND, OR, UNITED STATE, October 23, 2023 / — Allied Market Research published a new report, titled, ” The USD 1744 Billion Marketing Technology (MarTech) Market Reach by 2032 | Top factors that could boost industry in future.” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.

The global marketing technology (MarTech) market was valued at USD 329 billion in 2022, and is projected to reach USD 1.7 trillion by 2032, growing at a CAGR of 18.5% from 2023 to 2032.

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Surge in demand for personalized experience, and the proliferation of automation and efficiency. However, data privacy and compliance, and the high cost of implementation are expected to hamper market growth. Furthermore, the growing integration of AI and ML technologies and the increase in demand for real-time marketing are anticipated to provide lucrative growth opportunities for the global marketing technology market in the upcoming years.

The self-healing networks market is segmented based on component, network type, enterprise size, deployment mode, application, industry vertical, and region. Based on component, it is classified into solution and services. By network type, it is divided into physical, virtual, and hybrid. By enterprise size, it is classified into large enterprises and small & medium enterprises. By deployment mode, it is divided into on-premises and cloud. By application, it is classified into network provisioning, network bandwidth monitoring, network traffic management, and network access control. By industry vertical, it is divided into IT and telecom, BFSI, media and entertainment, healthcare and life sciences, retail & consumer goods, education, and others. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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Based on end-use, the retail and e-commerce segment held the largest share in 2022, contributing to more than one-fourth of the global marketing technology market revenue, and is expected to maintain the lead position during the forecast period. This is because of numerous advantages provided by marketing technology such as faster processing times, lower latency, and the ability to customize and tailor the technology to specific requirements. However, the media and entertainment segment is expected to portray the largest CAGR of 23.5% from 2023 to 2032. Marketing technology can innovate and streamline consumer and subscription processes.

Based on type, the digital marketing segment held the highest market share in 2022, accounting for nearly three-fourths of the global marketing technology market revenue, and is estimated to maintain its leadership status throughout the forecast period. The rise in the usage and development of digital technologies in the marketing sector propels market growth significantly. However, the offline marketing segment is projected to manifest the highest CAGR of 20.7% from 2023 to 2032. This is due to offline marketing services helping to grow relationships and networking of customers.

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Based on region, North America to hold the highest market share in 2022, accounting for more than one-third of the global marketing technology market revenue. This is due to the rising investments from public companies, such as Google LLC, IBM Corporation, Microsoft Corporation, and Amazon Web Services, Inc. among others, which is expected to drive market revenue growth in the region. On the other hand, the Asia-Pacific region is expected to maintain its dominance during the forecast period. The same region would also showcase the fastest CAGR of 21.7% from 2023 to 2032. This is due to the rise in digital penetration and adoption of smart devices, such as smartphones, tablets, and laptops are expected to drive market revenue growth in the region and provide lucrative growth opportunities for the market in this region.

The market players operating in the marketing technology market analysis are AWS, Inc., Google LLC, Microsoft Corporation, Oracle Corporation, SAP SE, Apple, Inc., Adobe Inc., Salesforce Inc., Aptean Inc., Zebra Technologies.

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COVID-19 Scenario:

● The outbreak of the COVID-19 pandemic had significantly impacted several industries including the marketing technology industry, as the increase in demand for online tools and platform solutions during lockdowns had increased which had increased the demand for virtual classrooms.

● Furthermore, the outbreak of COVID-19 is projected to provide a range of new avenues for the market to grow over the forthcoming period. These novel opportunities include a surge in integration for IoT, AI, and other advanced technologies coupled with the growing adoption of cloud solutions in marketing operations. This surge in AI-powered assessment and evaluation tools implementation created numerous opportunities for marketing technology service providers, solution developers, and service providers.

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Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

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Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies. This helps us dig out market data that helps us generate accurate research data tables and confirm utmost accuracy in our market forecasting. Every data company in the domain is concerned. Our secondary data procurement methodology includes deep presented in the reports published by us is extracted through primary interviews with top officials from leading online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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