Fort Collins, Colorado, Oct. 30, 2023 (GLOBE NEWSWIRE) -- According to DataHorizzon Research, the Marketing Technology Market was valued at USD 336.2 Billion in 2022 and is expected to reach USD 1,585.1 Billion by 2032 at a CAGR of 16.9%.
Marketing Technology uses software to design and execute marketing strategies that help achieve company goals. These tools assist with everything from customer relationship management to data analysis. By collecting and analyzing data, marketing technology can provide better insights, targeted advertising to potential customers through email or social media, and maintain customer relations after completing transactions.
A market tech stack combines all the marketing tools a company needs to run effective campaigns and reach the right audience at the right time while minimizing costs. The tools can be customized or chosen from existing options to meet the company's needs.
The pandemic highlighted the need for strong marketing technology as online mediums became essential due to lockdowns. With technology being introduced across various sectors, the marketing industry had to adopt these practices to continue operations without interruptions. While online tools have become the norm, the trend of marketing technology is expected to persist due to its benefits.
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Segmentation Overview:
The global marketing technology market has been segmented into type, application, and region. Advertising is the most prominent marketing technology, allowing companies to inform the public about their products and services through various mass media platforms. Marketers can analyze ad performance to determine where and to whom they should be presented. During the pandemic, healthcare saw significant growth in marketing technology as people relied on online services. This technology enables medical professionals to create informative videos and blogs that reach the right audience and provide insights into trending health issues.
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Marketing Technology Market Report Highlights:
- The global marketing technology market growth is anticipated at a CAGR of 16.9% by 2032.
- MarTech tools like CDPs and AI-powered marketing automation are crucial for businesses to connect with their audience.
- North America leads the martech market due to its rapid technology adoption. The US and Canada have their own martech companies and are among the largest providers of martech services worldwide, with businesses utilizing technology to stay ahead of market trends.
- Some prominent players in the marketing technology market report include Hubspot, Criteo, Amazon, Google, Microsoft, Zoho Corporation, Typeform, Meet Edgar, Mavrck, Movable Ink, Rokt, 6sense, and others.
Industry Trends and Insights:
- Site24x7, the cloud-based observability platform by ManageEngine, now supports OpenAI observability natively. This enables application owners to monitor OpenAI models' utilization in real-time, along with performance and cost metrics in a unified view.
- HubSpot and TikTok have synchronized real-time leads between the social media platform and HubSpot's Smart CRM. Marktech tools such as CDPs and AI-powered marketing automation have become critical for businesses to connect with their target audience.
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Marketing Technology Market Segmentation:
- By Type: Advertising, Data Management, Content Management, Customer relations management, and Social media
- By Application: Media and entertainment, Healthcare, Retail and E-commerce, Real estate, BFSI and Others
- By Region: North America, Latin America, Europe, Asia Pacific, the Middle East and Africa.
About DataHorizzon Research:
DataHorizzon is a market research and advisory company that assists organizations across the globe in formulating growth strategies for changing business dynamics. Its offerings include consulting services across enterprises and business insights to make actionable decisions. DHR’s comprehensive research methodology for predicting long-term and sustainable trends in the market facilitates complex decisions for organizations.
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