Account-based Marketing Market Overview
As per MRFR analysis, the Account-based Marketing Market Size was estimated at 9.58 (USD Billion) in 2022. The Account-based Marketing Market is expected to grow from 11.44 (USD Billion) in 2023 to 56.58 (USD Billion) by 2032. The Account-based Marketing Market CAGR (growth rate) is expected to be around 19.44% during the forecast period (2024 - 2032).
Key Account-based Marketing Market Trends Highlighted
The Account-based Marketing Market is experiencing significant growth due to the increasing adoption of targeted marketing strategies.
Key market drivers include the need for personalized customer experiences, the growing importance of customer relationship management (CRM), and the proliferation of marketing automation tools.
Opportunities for growth in the Account-based Marketing Market lie in integrating artificial intelligence (AI) and machine learning (ML) to enhance customer segmentation and personalization.
Additionally, the expansion of Account-based Marketing solutions across various industries and the adoption of cloud-based deployment models are creating further growth opportunities.
Recent trends in the Account-based Marketing Market include the rise of omnichannel marketing campaigns, the adoption of predictive analytics to optimize targeting, and the increasing focus on measuring the return on investment (ROI) of Account-based Marketing initiatives.
These trends indicate a shift towards data-driven, customer-centric marketing approaches that leverage technology to drive better business outcomes.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Account-based Marketing Market Drivers
Increased Adoption of Digital Marketing Channels
The increasing adoption of digital marketing channels is among the main drivers for the growth of the Global Account-based Marketing Market.
As businesses increasingly turn to digital channels to communicate effectively with their target audience, Account-based Marketing has become an important policy.
ABM enables businesses to tailor their marketing strategies to fit specific accounts, and to use them, thus, has the effect of enhancing customer engagement.
Typically, ABM is advantageous to companies with extended sales cycles as well as those that distribute highly intricate solutions. Once businesses or individual firms have clearly identified their target groups, it is relatively easier to tailor their marketing expectations and generate quality leads.
The frequent use of digital marketing channels is expected to lead to increased growth of the Global Account-based Marketing Market in the future.
Growing Demand for Personalized Marketing
One of the major drivers of growth of the Global Account-based Marketing Market is the increasing demand for personalized marketing. In the present world, customers expect businesses to provide personalized experience to them.
As such, there is no better way to provide personalization to customers than through Account-based Marketing. This is because ABM allows businesses to personalize their marketing messages to meet the specific needs and interests of each individual account.
Increased Focus on ROI
The increased focus on ROI is a major driver of the growth of the Global Account-based Marketing Market. Businesses are increasingly looking for ways to measure the return on their marketing investments, and ABM is a highly effective way to do this. ABM allows businesses to track the results of their marketing campaigns and measure the impact on their bottom line.
Account-based Marketing Market Segment Insights
Account-based Marketing Market Target Account Type Insights
The Global Account-based Marketing Market is segmented by target account types as Enterprise, Mid-Market, and Small Business. Among these segments, Enterprise is anticipated to hold the largest market share in 2023 by contributing for over 60% of the global revenue.
This is majorly due to the rapid adoption of ABM strategies by the vast number of large enterprises to target high-value accounts and execute personalized marketing campaigns. Mid-Market is expected to emerge as the fastest-growing segment over the forecast period, with a CAGR of 19.5% from 2024 to 2032.
The exponential growth is attributed to the high awareness of ABM advantages held among mid-sized businesses and the increasing number of cost-effective ABM solutions.
Although Small Business is expected to contribute a lesser market share in 2023, the segment is expected to grow at a steady pace owing to the rising adoption of digital marketing channels and the increased customer-centric approach among organizations.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Account-based Marketing Market Deployment Model Insights
The Account-based Marketing Market is segmented into deployment models such as cloud-based and on-premises. The cloud-based segment is projected to hold the largest Global Account-based Marketing Market share during the forecast period, owing to its benefits such as flexibility, scalability, and cost-effectiveness.
According to research, the cloud-based segment is estimated to account for over 60% of the Global Account-based Marketing Market revenue in 2024.
The on-premises segment, on the other hand, is expected to witness significant growth due to factors such as data security concerns and the need for customization.
Account-based Marketing Market Vertical Insights
The Technology industry is projected to hold the largest market share in the Global Account-based Marketing Market, accounting for over 30% of the global revenue in 2024.
The increasing adoption of digital technologies and the need for personalized marketing strategies are driving growth in this segment.
The Healthcare industry is also expected to witness significant growth, with a market share of over 25% in 2024. The growing demand for personalized patient engagement and the need to improve patient outcomes are fueling market growth in this sector.
The Manufacturing industry is anticipated to hold a market share of around 20% in 2024. The growing need for targeted marketing campaigns and the increasing adoption of automation technologies are contributing to the growth of this segment.
The Financial Services industry is projected to account for a market share of over 15% in 2024. The need for personalized financial advice and the increasing adoption of digital banking services are driving growth in this segment. The Retail industry is expected to hold a market share of around 10% in 2024.
The growing emphasis on customer loyalty and the need for targeted marketing campaigns are supporting market growth in this sector.
Account-based Marketing Market End User Objective Insights
The Global Account-based Marketing Market Segmentation by End User Objective offers valuable insights into the specific goals organizations pursue when implementing ABM strategies. 'Lead Generation' stands as a key objective, with businesses leveraging ABM to identify and engage high-value prospects effectively.
Customer Acquisition is another significant goal, as ABM enables tailored campaigns to nurture leads and convert them into paying customers. 'Account Nurturing' plays a crucial role in strengthening relationships with existing customers, fostering loyalty and driving repeat business.
Finally, Account Expansion emerges as an essential objective, empowering organizations to upsell and cross-sell additional products or services to their existing customer base, thereby maximizing revenue generation.
The Global Account-based Marketing Market revenue is projected to reach $11.44 billion in 2023 and is anticipated to grow exponentially in the coming years, driven by the increasing adoption of ABM strategies across various industries.
Account-based Marketing Market Integrations Insights
Integrations with customer relationship management (CRM), marketing automation, sales intelligence, and social media management tools play a crucial role in enhancing the effectiveness of Account-based Marketing (ABM) campaigns.
Seamless integration with CRM systems enables marketers to centralize customer data, track interactions, and gain a comprehensive view of account engagement. Marketing automation integration automates repetitive tasks, streamlines campaign execution, and nurtures leads effectively.
Sales intelligence tools integrated with ABM platforms provide insights into target accounts, their key decision-makers, and their buying behavior.
Social media management integrations allow marketers to engage with prospects and customers on social media platforms, monitor brand mentions, and amplify ABM campaigns.
Account-based Marketing Market Regional Insights
The Global Account-based Marketing Market is segmented into North America, Europe, APAC, South America, and MEA. North America is the largest region in terms of revenue, accounting for over 40% of the global market in 2023.
The region is expected to continue to dominate the market over the forecast period, driven by the presence of many Fortune 500 companies and the increasing adoption of Account-based Marketing strategies. Europe is the second-largest region in terms of revenue, accounting for over 30% of the global market in 2023.
The region is expected to grow at a CAGR of over 18% over the forecast period, driven by the increasing adoption of Account-based Marketing strategies by businesses in the region. APAC is the third-largest region in terms of revenue, accounting for over 20% of the global market in 2023.
The region is expected to grow at a CAGR of over 20% over the forecast period, driven by the increasing adoption of Account-based Marketing strategies by businesses in the region. South America and MEA are the smallest regions in terms of revenue, accounting for less than 10% of the global market in 2023.
However, these regions are expected to grow at a CAGR of over 15% and 18%, respectively, over the forecast period, driven by the increasing adoption of Account-based Marketing strategies by businesses in the regions.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Account-based Marketing Market Key Players and Competitive Insights
Major players in the Account-based Marketing Market constantly strive to gain a competitive edge by offering innovative solutions, strategic partnerships, and tailored offerings.
The Account-based Marketing Market has witnessed collaborations, acquisitions, and product launches to maintain a strong foothold. Leading Account-based Marketing Market players focus on expanding their global presence, enhancing their product capabilities, and customizing solutions to meet diverse customer needs.
The Account-based Marketing Market development landscape is expected to remain competitive as companies invest in research and development to stay ahead.
As a leading player in the Account-based Marketing Market, Salesforce offers a comprehensive suite of customer relationship management (CRM) and marketing automation solutions.
The company's Salesforce Marketing Cloud is specifically designed to support Account-based Marketing initiatives, enabling businesses to target and engage high-value accounts effectively.
With a focus on personalization, automation, and data-driven insights, Salesforce helps organizations achieve improved customer engagement, conversion rates, and revenue growth.
The company's strong brand reputation, extensive customer base, and ongoing innovation make it a formidable competitor in the Account-based Marketing Market.
One of the key competitors in the Account-based Marketing Market is Oracle. With its Oracle Marketing Cloud, the company provides a range of solutions tailored to Account-based Marketing.
Oracle's strength lies in its ability to integrate marketing data with CRM and enterprise resource planning (ERP) systems, allowing businesses to gain a holistic view of their customers.
The company's focus on data analytics and customer segmentation enables organizations to identify and prioritize target accounts, personalize marketing campaigns, and measure the impact of their efforts.
Oracle's extensive industry experience, global presence, and commitment to customer success make it a significant player in the Account-based Marketing Market.
Key Companies in the Account-based Marketing Market Include:
- Demandbase
- SAP
- Salesforce
- Terminus
- RollWorks
- Influ2
- Marketo
- LeanData
- Madison Logic
- Oracle
- 6sense
- IBM
- Adobe
- Everstring
- Engagio
Account-based Marketing Market Developments
The increasing adoption of digital marketing strategies and the need for personalized marketing campaigns are key drivers of market growth.
Recent developments in the ABM market include the integration of artificial intelligence (AI) and machine learning (ML) into ABM platforms.
These technologies enable marketers to automate tasks, gain insights into customer behavior, and deliver more targeted campaigns. Additionally, the rise of account-based advertising (ABA) is expanding the reach of ABM, allowing businesses to target specific accounts through display ads and other digital channels.
Account-based Marketing Market Segmentation Insights
-
Account-based Marketing Market Target Account Type Outlook
- Enterprise
- Mid-Market
- Small Business
-
Account-based Marketing Market Deployment Model Outlook
- Account-based Marketing Market Vertical Outlook
- Technology
- Healthcare
- Manufacturing
- Financial Services
- Retail
- Account-based Marketing Market End User Objective Outlook
- Lead Generation
- Customer Acquisition
- Account Nurturing
- Account Expansion
- Account-based Marketing Market Integrations Outlook
- CRM
- Marketing Automation
- Sales Intelligence
- Social Media Management
- Account-based Marketing Market Regional Outlook
- North America
- Europe
- South America
- Asia Pacific
- Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
9.58(USD Billion) |
| Market Size 2023 |
11.44(USD Billion) |
| Market Size 2032 |
56.58(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
19.44% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Demandbase, SAP, Salesforce, Terminus, RollWorks, Influ2, Marketo, LeanData, Madison Logic, Oracle, 6sense, IBM, Adobe, Everstring, Engagio |
| Segments Covered |
Target Account Type, Deployment Model, Industry Vertical, End User Objective, Integrations, Regional |
| Key Market Opportunities |
Personalization Predictive analytics AI integration Data-driven strategies Cross-channel alignment |
| Key Market Dynamics |
Rapid technological advancements Personalization and customization Rise of AI and automation Integration with CRM systems Increased focus on customer experience |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The global Account-based Marketing market is expected to reach a valuation of USD 11.44 billion in 2023 and is projected to grow at a CAGR of 19.44% from 2024 to 2032, reaching a valuation of USD 56.58 billion by 2032.
North America is expected to dominate the global Account-based Marketing market throughout the forecast period. The region's dominance can be attributed to the early adoption of advanced technologies and the presence of many technology vendors in the region.
Account-based Marketing finds applications in various industries, including IT and telecom, manufacturing, healthcare, BFSI, and retail. It is used for lead generation, customer acquisition, account expansion, and customer retention.
Some of the key competitors in the global Account-based Marketing market include Salesforce, Oracle, Adobe, Terminus, and Marketo. These companies offer a range of Account-based Marketing solutions, including software, services, and consulting.
The growth of the global Account-based Marketing market is driven by several factors, including the increasing adoption of digital marketing, the need for personalized marketing campaigns, and the growing awareness of the benefits of Account-based Marketing.
The global Account-based Marketing market faces certain challenges, such as the lack of skilled professionals, the high cost of implementation, and the need for a long-term commitment. Additionally, the increasing competition in the market can make it difficult for vendors to differentiate their offerings.
Some emerging trends in the global Account-based Marketing market include the increasing use of artificial intelligence (AI) and machine learning (ML), the adoption of predictive analytics, and the growing popularity of omnichannel marketing campaigns.
The global Account-based Marketing market is expected to grow at a CAGR of 19.44% from 2024 to 2032, reaching a valuation of USD 56.58 billion by 2032.
The future of the global Account-based Marketing market will be shaped by several factors, including the increasing adoption of digital marketing, the growing demand for personalized marketing campaigns, and the advancements in technology.
New entrants in the global Account-based Marketing market can find opportunities by focusing on niche markets, offering innovative solutions, and partnering with established players. Additionally, they can leverage the growing demand for Account-based Marketing solutions in emerging markets.
