Last week, I wrote about the martech market, with estimates putting its worth at nearly $670 billion globally, accounting for 30% of marketing budgets.
Now, new numbers from Insider Intelligence add to martech’s importance, with B2B martech spending in the United States expected to increase 13.4% in 2024 (to $8.71 billion) and another 16% in 2025 (to more than $10 billion).
Furthermore, Insider Intelligence says martech and marketing data are “inextricably linked.”
(Source: Insider Intelligence)
“Many of the same factors that affect marketing data spend also influence martech spending,” says Insider Intelligence. “Martech investments are often centered around data needs. If there’s slower growth for martech spending, marketing data spending will slow correspondingly.”
Insider Intelligence does forecast spend for B2B marketing data in the United States to slow due to factors such as tighter budgets and privacy regulations. The $3.74 billion spending in 2023 means only a 2.3% change, a YoY growth rate “roughly half of what it was in 2022.” However, that YoY growth rate is estimated to jump to 3.8% in 2025 when marketing data spend will near $4 billion.
(Source: Insider Intelligence)
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