BEGIN ARTICLE PREVIEW:
Everyone in our industry knows that the growth rate among marketing technology applications has been exponential for years now. The 2020 Marketing Technology landscape released last month included 8,000 solutions. There were fewer than 200 logos on the chart in 2011, which means we’ve seen a 5,233% increase in martech solutions in less than a decade.
Even in the current economic crisis and the impact it will have over the next 18 months, some martech companies may see gains. Forrester reported this month it expects marketing spend to drop 28% in the U.S. by the end of 2021, with CMO budgets losing $222 billion. And yet, Forrester predicts tech spend will not only hold, but expects data and analytics, advertising technology and marketing automation to grow by 2% — a very slight growth, but still growth.
And within all of this growth across our industry, two (what seems like) opposing realities exist, according to MarTech Conference Chair and editor of Chiefmartec.com Scott Brinker: There is a massive consolidation in platforms; and there is a massive expansion and diversification of apps.
The push and pull of consolidation versus expansion
“Everyone is surprised by how fast it has grown,” said Brinker about his Marketing Technology Landscape super graphic, “One of …
END ARTICLE PREVIEW