11,000 Solutions: The Marketing Technology Landscape Continues To Grow
The 2023 Marketing Technology Landscape Supergraphic has been released, featuring over 11,000 solutions that are searchable on Martechmap.com. This comprehensive visual representation of the marketing technology industry has been eagerly awaited by industry professionals, who are keen to see the latest trends and changes in the field. And boy, there are a lot of changes. A lot.
In fact, MarTech growth has seen 7,258% growth in just the last twelve years. That’s an 11% increase from the 9,932 charted last year.
It’s been a hell of a year for SaaS companies, and not in a good way. The landscape last year saw a 7% churn rate. That’s 689 companies which were acquired, pivoted, or went out of business.
But the number of startups which have launched in the last year has certainly made up for it. Although competition and economic pressure continue to increase, barriers to entry for software products are decreasing, and there remains a large untapped market for many of these capabilities.
During the Best of Breed Marketing Summit, Brinker, who is the VP of platform ecosystem at HubSpot, delivered the presentation alongside Frans Riemersma, the founder of Marketing Tribe, he stated:
“On average, across companies of all sizes, you still have around 291 SaaS subscriptions. Even while there is consolidation of the industry in the economic environment of today, a motivation to rationalize stacks, we still see people using this very wide variety of tools.”
On top of all this was the focus on composability emerging in a number of categories, including DXPs, CDPs, and commerce. Plus, how two-way data flows between data warehouses and front-line solutions like CDPs.
But clearly, Scott and Frans are human after all. Because just like the rest of us, they're talking about:
The Rise of AI and Machine Learning
The release also saw Scott and Frans delve into the space of AI. And by delve, I mean delved. The pair investigated the zero order, first order, and second order effects of the tech.
For example, when AI generates content, the zero-order effect is that it’s cheaper, easier, and faster to create. The first order is that the quantity of content grows massively and is personalised. But the quantity of spam also increases. The second-order effects are that buyers turn further away from “pushed” marketing and sales and turn to trusted sources.
Another interesting feature of the growth of AI is that consumers, as well as marketers, will be armed with AI tools, something that has the potential to change the relationship between buyers and sellers.
Check out the full table below:
This area has the potential to upend the industry in just a few years. We’ve already seen it with no code and low code. In fact, Scott believes AI will be a co-pilot, and will extend the no-code revolution beyond marketing ops and power users to pretty much anyone.
As Scott says:
"Will that shink the commercial martech landscape, as more software becomes custom composed within companies? Or will it expand the landscape with a whole new generation of martech “products” — such as a massive wave of components that can plug-and-play into these composable stack architectures?
Honestly, it could go either way. But if I had to take a guess, I think it will be the latter.”
The Upgrade to the Martech Map
The website itself, and the way you can interact with the map, has changed massively.
In addition to being able to search and filter martech solutions by country, ratings, reviews, year founded, estimated revenue, and number of employees, you can now sort the results by any of these fields as well.
Furthermore, by clicking on a button, you can see a pie chart distribution of the top 10 companies by revenue in each category, which dynamically adjusts based on any applied filters.
A martech stack builder has also been added, allowing you to drag-and-drop solutions from the map into your own stack and compare your overall martech stack maturity against a database of other companies. A PDF version of your assembled stack can also be obtained, and a benchmark report can be requested for free from MartechTribe.
Despite being based on estimated data and not complete for all companies in the database, these upgrades provide a useful lens into the martech landscape.
Hey there, martech fans. Want to expand your knowledge on the space to the nth degree? Well, have we got a treat for you.
It’s our goal at LXA to help marketers understand and deploy marketing technology. Our 4Ps of MarTech & Marketing Operations guide will provide you with a practical framework for doing exactly that. Check out our 4Ps of marketing technology ebook here!