Marketers now have almost 10,000 marketing technology tools to choose from, according to the latest marketing technology landscape from chiefmartec.com and MartechTribe. In fact, despite consolidation in the martech industry, the 9,932 solutions charted represent a 24% increase from 2020, the last time the analysis was conducted.
Although growth in the number of available solutions has slowed somewhat in recent years, the decade-plus history of the landscape reveals incredible growth, from only 150 tools in 2011.
While it seemed at one point as though we may have reached “peak martech” prior to the pandemic – and that the pandemic might stunt any further growth – that has certainly not proven to be the case. Not only have more solutions been introduced, but demand also grew, as marketers experimented with new technologies and features. And last year, marketers spent more on technology than on any other resource class, be it labor, agencies/services, or paid media.
In an accompanying State of Martech 2022 report [pdf], the authors note that every category of martech grew between 2020 and 2022. The fastest growth was recorded for Management tools, up 67% from 601 to 1,001. This, as the authors note, is likely due to changes in work habits and greater adoption of remote work during the pandemic.
The Content & Experience category also saw strong growth, of 34%. It’s the most populous category tracked, with 2,592 solutions. Its rise is not too surprising, given the increased demand for content during the pandemic (for both B2C and B2B), along with the continued focus on customer experience.
Another fast-growing category of martech solutions is the Commerce & Sales category, with the number of tools in this area increasing over the past 2 years by 24%, to 1,623. Again, it’s understandable why this would grow as consumers shop more online and B2B marketers increasingly shift to virtual selling.