Account-Based Marketing Market to Evolve in Near Future 2023

Report define, describe, and forecast the account-based marketing market based on account types, components, deployment models, organization size, industry verticals, and regions.

(EMAILWIRE.COM, April 23, 2019 ) Major growth drivers for the Account-Based Marketing market include the focus on identifying the right audience, growth of social media and social advertising, and increased customer lifetime value.

MarketsandMarkets forecasts the global account based marketing market size to grow from USD 651.9 million in 2018 to USD 1,196.9 million by 2023, at a Compound Annual Growth Rate (CAGR) of 12.9% during the forecast period.

In the account-based marketing market by account type, the strategic account-based marketing segment is expected to grow at the highest CAGR during the forecast period. The major growth driver is the increasing need by organizations to focus largely on larger accounts and target individuals directly in the company.

Major technology vendors include:
• Demandbase (US)
• InsideView (US)
• 6Sense (US)
• Act-On Software (US)
• AdDaptive Intelligence (US)
• Albacross (Sweden)
• Celsius GKK International (France)
• Drift (US)
• Engagio (US)
• Evergage (US)
• HubSpot (US)
• Integrate (US) and many more.

North America is expected to hold the largest market size in the global account-based marketing market by region, as account-based marketing solutions have already penetrated the region. High spend on new technologies drive the market growth in North America. In the region, the percentage of social media users, smartphone users, and ad spending is exceptionally high. Mobile device penetration in the US is more than 90%, followed by Canada, which has given the eMarketers a stronger channel to target the potential customers.

The global account-based marketing market’s 3 major types are strategic account-based marketing, account-based marketing Lite, and programmatic account-based marketing. The strategic account-based marketing account type is expected to grow at the highest CAGR during the forecast period, due to an increasing need to focus largely on bigger accounts and target individuals directly in the company. With customer loyalties shrinking, strategic account-based marketing would help marketers expand business loyalties and increase the net basket of the customer.

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