Martech Now A $34B Industry, Represents 16% Of Marketing Budgets – MediaPost
Marketers are currently spending an average of 16% of their marketing budgets on technology, according to an analysis of the so-called “martech” market released this morning by London-based WARC. That percentage, which has presumably grown in recent years as a result of an increasing reliance on data-based and programmatic technology, coincidentally is close to the historical norm — 15% — that marketers have paid ad agencies for buying media.
WARC’s report, which is based on a survey conducted by accounting firm Moore Stephens of more than 500 North American and UK brand marketers, estimates the martech marketplace currently stands at about $34.3 billion in annual spending from marketers.
Interestingly, half the respondents said they are dissatisfied and don’t currently have the technology tools they need to do their jobs.
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