US martech spend marches on with strong growth

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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.

More like this:

• Report: US B2C Martech Spending Forecast 2022
• Article: Clean rooms are in vogue with advertisers, publishers, and vendors—but there’s a catch
• Webinar: How JCPenney is building a better customer experience to drive loyalty

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.