Key trends highlighted in the report include:

• Martech represents a large, opportunistic market with solid growth: The global Martech market is expected to reach $1.7TN by 2032 from $329BN in 2022, growing at an 18.5% CAGR during 2023-2032, driven by increasing digital transformation, the surge in demand for technologies conducive to delivering personalized experiences, and the proliferation of automation and efficiency
• Compared to email, SMS marketing continues to have a decided advantage in terms of open rate: Text messages have an overwhelming average open rate of 98%, as opposed to 19.8% of emails, at much faster velocity – emails take up to 90 minutes for someone to open, while text messages have an average opening rate of 90 seconds. SMS marketing tools are observing sustained momentum and prove to be a complementary force for pairing with adjacent solutions for improved customer marketing capabilities, as evidenced by MessageGears acquiring Swrve in Q1‘23
• Generative AI has emerged as a transformative force, reshaping engagement strategies with its dynamic and personalized content capabilities: Martech providers are expected to increasingly continue to integrate GenAI across product lines given the proven benefits in helping clients increase core marketing ROI metrics including ROAS. GenAI has also altered industry dynamics with Bloomberg reporting that the GenAI market is set to grow to $1.3TN by 2032 and recent strategic M&A activity including Salesforce’s acquisition of Airkit highlight large market moves shaping the future of marketing
• Hyper-personalized app push notifications remain a high-ROI conversion driver: The global push notifications software market is poised for remarkable growth at a CAGR of 26.6% during 2023-2028, underpinned by a combination surging demand for real-time personalized communication, and mobile continuing to be the dominant platform for choice for e-commerce. Push notifications have distinguished themselves as a high-ROI channel, with a remarkable 90% delivery rate and seven times higher click rates than emails. Companies such as Braze, which offer hyper-personalization solutions, are primed for exceptional growth and market dominance
• Creator monetization platforms continue to be highly sought out value drivers for brands: Creator-led / influencer marketing has established its dominance over traditional forms of marketing by being 11x more effective. 74% of marketers aim to dedicate a substantial social media budget to collaborating with content creators in the upcoming months. As such, brands will rely increasingly on creator monetization platforms to provide the most value by sourcing, discovering and measuring the efficacy of the creators and influencers partnering for their campaigns. Recent funding / M&A activity including Sprout Social’s $140MM acquisition of Tagger Media highlights the growing significance of these platforms
• M&A outlook for 2023 was optimistic and remains a key strategic priority for 2024: Martech was of increasing interest to strategic and financial buyers in 2023, with 75 notable deals completed in the period, 53% higher than in 2022. Offer generation tools, customer experience management and experiential marketing were the most sought technologies, with Neptune’s acquisition of Quotient Technologies, Qualtrics acquisition by Silver Lake and CPP Investments, and Blackstone’s acquisition of Cvent

To provide a deeper understanding of the sector, our report includes key disruptors, industry landscape, notable M&A and fundraising transactions activity (including major deals within the last 12 months)