The MarTech technology landscape in 2022. (yes, more of that)
Surprise! In 2022, the martech landscape has grown enormously again.
No, no surprise there.
ChiefMartec brings us a report on the growth of the marketing technology landscape. Their last report was from two years ago, but the team has now developed an algorithm-based way to make reporting faster and more regular. Here are the key takeaways.
They counted 9,932 different solutions, a 24% growth compared to 2020. If we look back at 2011, the first year of these measurements, we see an incredible growth of 6,521%!
The growth of recent years has been accompanied by consolidation of the market. Successful companies were bought out and less successful ones left the market. This effect accounted for no less than 12.15% of the 8,000 Martech solutions in 2020. This tells us that the market is rapidly growing and ever more dynamic.
If we look at the absolute growth, we count 2,904 new vendors. Not including churn, we count 36% new platforms since 2020! The main growth can be found among Experience Platforms. The need to stand out with a good consumer experience is the biggest driver here.
Striking differences can be found between regions. While the US has more account-based marketing tools, Europe is growing much more in asset management platforms. This may have something to do with the European privacy watchdog.
The future is promising
The evolution of MarTech tools has thus been in full swing for several decades and there is no indication that the (r)evolution will soon come to a halt. Of course, there are many differences in those almost 10,000 tools. If you want more detail, you can now use an interactive tool to discover which vendors are active in which sector. You can search, filter and sort the complete list of 2022.
Would you like more insights and explanations? Then you can view the full PDF report.