Marketers plan to invest more in technology and software in 20924, according to global consultancy Forrester’s Global Martech Software Forecast.
In 2023, global marketers spent $131 billion on martech technologies, up 10.9%, and this figure will continue to expand to keep pace with the rapidly evolving digital environment.
“The rapid digitisation of consumer experiences and marketers’ continuous adoption of new technologies create plenty of opportunity for the next phase of growth,” says Forrester.
Forrester expects spending on marketing technology tools to surpass $215 billion by 2027.
This implies a 13.3% annual growth rate.
Global B2C marketing decision-makers say their organisation spends 18% of its marketing budget on technology, according to Forrester’s Marketing Survey, 2023.
“Through continued economic uncertainty, martech is growing faster than the broader enterprise software market,” says Forrester.
Large martech vendors such as Adobe and Salesforce consistently deliver strong revenue performance.
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