According to a new report, published by KBV research, The Global Marketing Technology (MarTech) Market size is expected to reach $1,050.8 billion by 2029, rising at a market growth of 19.9% CAGR during the forecast period.
The Content Marketing Tools market is showcasing a CAGR of 20.4% during (2023 - 2029). This is due to the factors influencing the demand for MarTech solutions like the rising desire for automating and streamlining labor-intensive operations for increased productivity and to support marketing campaigns with quicker answers and real-time data. Over the forecast period, rising demand for several core marketing strategies, including Customer Relationship Manager (CRM), Content Management System (CMS), and Data Management Platform (DMP), are anticipated to support the segment's growth.
The Digital Marketing market is leading the Global Marketing Technology (MarTech) Market by Type in 2022, thereby, achieving a market value of $644.3 billion by 2029 This is due to the accelerated adoption of digital technology, which has changed how firms operate and carry out their business goals. With the help of digital marketing, businesses now have a practical tool for interacting with diverse market participants via various channels, including email, instant messaging, and social media. Thereby, such factors are anticipated to boost the segment's growth.
The Retail & E-commerce market has shown the high growth rate of 18.4% during (2023 - 2029). This is due to the retail and e-commerce industries' prominent usage of marketing technology. Customers' buying experiences are becoming personalized through the use of marketing technology. Online merchants, for instance, watch client activity and preferences using data analytics tools, then utilize this information to suggest products and present tailored promotions. Thus, the increased usage of MarTech by retail and e-commerce businesses, due to the mentioned benefits are anticipated to drive the segment's growth.
The North America market dominated the Global Marketing Technology (MarTech) Market by Region in 2022 and would continue to be a dominant market till 2029; thereby, achieving a market value of $363.5 billion by 2029. The Europe market is poised to grow at a CAGR of 19.5% during (2023 - 2029). Additionally, The Asia Pacific market would witness a CAGR of 20.8% during (2023 - 2029).
Full Report: https://www.kbvresearch.com/marketing-technology-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Google LLC (Alphabet Inc.), Microsoft Corporation, Oracle Corporation, SAP SE, Amazon Web Services, Inc. (Amazon.com, Inc.), Amdocs Limited, Adobe, Inc., Apple, Inc., Buzzoole (Buzzoole Holdings Limited), and FullCircl Ltd.
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