[eMarketer] US marketing technology set to surpass $20 billion for the first time ever

Marketing technology (Martech) spending in the US will grow 14.3% this year and surpass $20 billion, according to our newly released forecast.

This is considerably lower than the 20.9% growth the sector had in 2021, when companies began spending on gaps they identified at the dawn of the pandemic the year prior. The industry had already nearly doubled between 2018 and 2020.

This is a completely new forecast, not an expansion of any existing metrics.

Companies are spending on technology that will allow them to gather and store their own data, access information to make decisions, and act as needed.

eMarketer posits that companies often turn to a number of providers to build a technology stack that suits their specific needs. Major players such as Adobe, Oracle, and Salesforce provide solutions that help companies perform a wide spectrum of marketing activities. Many smaller providers including startups offer solutions that are focused on a narrower range of marketing functions.