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US spending on marketing technology (martech) will hit $21.14 billion this year, up 14.3% from 2021. Despite a dip in growth, spend will continue to rise by double-digit rates through the end of our forecast period in 2024.
Beyond the chart: B2C spending on martech is higher but slower-growing than that of B2B, per our estimates. B2C firms will invest $14.54 billion this year compared with B2Bs’ $6.59 billion.
B2C martech spend is concentrated among a few providers: 40% to 50% of this year’s total will go to Adobe, Oracle, and Salesforce. Each of those companies has expanded through acquisitions. Now they’re tasked with maintaining ease of use and ecosystem interoperability.
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Read yesterday’s Chart of the Day here.
Methodology: Estimates are based on the analysis of data from other research firms and government agencies, historical trends, reported and estimated revenues from company reports, and macro-level economic conditions.