Marketing Technology (MarTech) Market Size, Share & Trends Analysis Report By Product (Social Media Tools, Content Marketing Tools, Rich Media Tool, Automation Tool), By Type, By Application, By Region, and Segment Forecast, 2023 - 2030

Marketing Technology (MarTech) Market Size, Share & Trends Analysis Report By Product (Social Media Tools, Content Marketing Tools, Rich Media Tool, Automation Tool), By Type, By Application, By Region, and Segment Forecast, 2023 - 2030

Marketing Technology Market Growth & Trends

The global marketing technology market size is anticipated to reach USD 1,379.3 billion by 2030, registering a CAGR of 19.8% from 2023 to 2030, according to a new report by Grand View Research, Inc. Technology and communication help businesses grow and succeed while fostering relationships, improving organizational effectiveness, and letting people get to know one another. Technologies such as the internet, mobile devices, social media, and customer relationship management programs are just a few examples that significantly impact how companies communicate with potential customers. These new forms of communication are transforming the media landscape and the type of communications strategy businesses use. Consumers and businesspeople frequently use computers and smartphones to conduct online research, connect with others, and conduct business.

Digital marketing is used in modern marketing. It might be described as a form of marketing that uses digital tools like tablets, smartphones, and personal computers. Game consoles and televisions are used to interact with stakeholders. Digital Brand Engagement is a part of digital marketing. Technology or platforms used in digital marketing include websites, e-mail, applications, and social networks. Digital marketing can be done via non-internet mediums as well, such as TV, radio, SMS, or online via social media, email advertisements, and banner ads. Digital marketing includes social media marketing. But as a result of its superior ability to target and track a variety of factors, including Return on Investment (ROI), more precisely than other conventional marketing channels, digital marketing is becoming more and more popular among marketers. Several businesses combine traditional and digital marketing techniques.

The most harmful factor in the shift of power from marketers to consumers has been the development of the internet. Customers now have access to a vast amount of global data that is timeless, important, and verifiable thanks to the internet. Consumers may get useful information about businesses and their goods with just one click. Users can look for lower costs, compare products, read reviews, and even converse with other users regarding the calibre of the product and customer satisfaction. Additionally, internet users are not just consuming content; they are also producing it and sharing it with others, enabling hitherto unheard-of information and knowledge flows. With the rise of social media platforms like Facebook, Twitter, Tumblr, Instagram, and others, customers may get immediate feedback from friends and family on products, both good and poor. A blog post or video made by a disgruntled consumer these days can become viral in a matter of hours.

Marketing Technology Market Report Highlights

• The Social media tools segment led the market in 2022, accounting for over 23% share of the global revenue. The growth is attributed to the prominent growth of smartphones and digitalization in the market
• The Healthcare segment dominated the market and accounted for more than 20.7% share of the global revenue in 2022. The growth is attributed due to the increase in Chatbot software
• Major launches and innovations are augmenting automation tool segment. For instance A customization token in automated marketing emails now supports custom objects thanks to a software update from HubSpot
• North America had the largest revenue share of over 33.5% in 2022. Due to major investment in marketing technology in the region

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