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.

Sourced through Scoop.it from: www.mediapost.com

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