Account-Based Marketing Market

Global Account-Based Marketing Market Size (2024 to 2029)

The global account-based marketing market is predicted to reach USD 0.68 billion in 2024 and USD 1.24 billion by 2029, growing at a CAGR of 12.9% during the forecast period. 

Current Scenario of the Global Account-Based Marketing Market

The account-based marketing (ABM) market is gaining footing as it provides better approaches to B2B marketers to oversee essential client commitment. Account-based marketing assumes a vital job in upgrading business inside winning client accounts. On occasions with moderate beginning deals, account-based marketing expands the client's long-haul estimation. ABM can likewise be actualized as a pivotal possibility that represents a significant deal. For example, Northrop Grumman sent ABM programming to finish a fruitful USD 2 Bn bargain. In this way, increment popularity for ABM by associations to empower deals and marketing groups to finalize more negotiations by focusing on explicit accounts is likely to drive the market during the forecast period. Account-based marketing is an exceptionally engaged business technique in which a marketing group treats a distinct possibility or client like a unique market. The marketing group can dedicate substance, occasions, and whole campaigns to the individuals related to that account rather than the business in general. 
Account-Based Marketing Market realigns deals and marketing offices by using generally speaking marking and lead age techniques, perceiving excellent objective records, and executing a customized marketing procedure. ABM programming gives tools to robotize and diminish the process of observing possibilities and offering the correct advantages to create legitimate records. The product permits clients to make brilliant leads, increment client lifetime esteem, design customized purchasing excursions, and construct extra open doors for in-pipeline accounts. ABM market empowers to consolidate prospect information with ongoing client experience advances to encourage an account-based marketing procedure. This permits associations to adjust deals and marketing groups toward an association's objectives. ABM instruments can be used to get new records, bolster existing and promising files, and develop undertaking accounts.

MARKET DRIVERS

The account-based market helps reduce the possibility of purchasing irrelevant traffic for highly targeted programs.

By choosing specific accounts in real-time, the chance for higher ROI increases by not wasting any resources on statements that aren't a great fit. This is considered the primary driver for the global account-based marketing market. Most large enterprises adopt modern business strategies to accelerate their profit margin, which involves adopting a revolutionary ABM method of aligning sales and marketing channels, personalized campaigns, and content specifications, increasing ROI, and expanding the company's customer base. This is one of the major factors accelerating the worldwide market revenue. Compared to traditional advertising strategies, targeting a broader audience, ABM focuses on quality rather than quantity, which fuels market growth through wide adoption. ABM escalates the data insights to identify accurate and ideal customer profiles, understand buying behavior, and create personalized campaigns to augment growth opportunities. 
Moreover, many marketers are increasingly adopting account-based marketing, whereas inbound marketing is still essential for generating B2B lead generation. Marketers focus on regaining control over the process, accelerating their acquisition cycles, and discovering more sustainable ways to convert the target accounts. This shift from a reactive to a proactive marketing approach for B2B companies boosts the demand for account-based marketing solutions. 

MARKET RESTRAINTS

To have an effective ABM system, we need to understand the specific needs of accounts and how they would prefer to communicate, resulting in a more in-depth analysis. As of now, ABM technology can be considered in its infant stage. Some limitations exist, especially when identifying accounts and using IP addresses and cookie files. These factors act as challenges for the market players in expanding the market. Moreover, it is true that ABM saves your resources and increases your ROI; it also requires a new platform that needs to be invested first, where the initial investment is estimated to be expensive, which limits the adoption. Marketing skills are also required to set up an effective ABM system, limiting its rapid expansion. Advertising and marketing cost more money, and with proper research, one might save marketing efforts and money by targeting the right audience. These scenarios will hamper the expansion of the global market. 

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Account-Based Marketing Market Analysis By Account Type

In the market by account type, the strategic account-based marketing segment is foreseen to develop at the highest CAGR during the conjecture time frame. The significant development driver is the expanding need by associations to concentrate more on vital records and to target people in the organization more straightforwardly. 

Global Account-Based Marketing Market Analysis By Component

The tools segment dominated the global market due to various companies' high adoption of strategic tools to expand their profits. As the demand for ABM increases, marketers need access to the right tools to help them execute their strategies effectively. 

Global Account-Based Marketing Market Analysis By Deployment Model

Cloud-based deployment is anticipated to witness the highest growth rate in the global account-based marketing market due to mounting awareness about the numerous benefits offered by this model. Cloud-based deployment allows customers and marketers to operate from remote areas, as the complete data is stored in the cloud system.

Global Account-Based Marketing Market Analysis By Organization Size

The large enterprises segment held the largest global market revenue share and is anticipated to maintain its domination in the coming years. Large enterprises frequently seek modern technologies to expand their customer base, which involves adopting ABM solutions, which is majorly driving the segment growth. 
The small and mid-sized enterprises segment is estimated to grow steadily during the forecast period. The initial investment costs are high, which is difficult to afford for many organizations. 

Global Account-Based Marketing Market Analysis By Industry

The telecom and I.T. industry vertical's market size in the account-based marketing market has developed quickly because of the expanding number of endorsers producing enormous volumes of information and embracing account-based promotion to give clients better IT-empowered arrangements and administrations. 
The BFSI segment is also experiencing significant growth due to its high involvement in the adoption of ABM. ABM helps companies in the BFSI industry track their clients and rank them based on factors like risk management, investment potential, and consistency, which drives the segment's growth. 
The government and public sector will record prominent growth in the coming years. Government standards help organizations embrace account-based marketing tools and administrations to comprehend client conduct from the oversaw comprehensive information. Government and open division associations center around client-driven techniques to improve consumer loyalty. They embrace account-based marketing administrations to use new information abilities for customers in the public segment, which shows expanded enthusiasm for focusing on explicit occupation capacities.

REGIONAL ANALYSIS

The North American region dominated the global market revenue with a significant market share of 40%, as the U.S. is one of the largest countries with a rising business economy. North American region is a massive base for most of the world's major enterprises. Most companies adopt account-based marketing to expand their regional business, enhancing investor and shareholder relationships. Major technology-based companies have headquarters in the U.S., which fuels the region's market revenue. Due to the rising globalization across the region, the I.T. sector is facing various challenges, and to overcome those challenges, it is adopting new and innovative technologies like account-based marketing, which supports regional market expansion. 
The European region held second in acquiring global market revenue due to escalation in the I.T. sector and rapid adoption of technological advancements across countries like Germany, France, and the U.K.
The Asia Pacific region is estimated to have the fastest growth during the forecast period due to rising globalization. Increasing industries across the region and a growing I.T. sector will enhance growth opportunities during the forecast period. 

KEY PARTICIPANTS IN THE ACCOUNT-BASED MARKETING MARKET

Companies playing a major role in the global account-based marketing market include Terminus Software, Inc., D&B Hoovers (Avention), EverString Limited, Engagio Inc., Radius Intelligence Inc., Demandbase, InsideView, AdDaptive Intelligence, Celsius GKK International, HubSpot, Kwanzoo, and others.

RECENT HAPPENINGS IN THE GLOBAL ACCOUNT-BASED MARKETING MARKET

•    In November 2023, Albacross, a provider of account-based marketing (ABM), announced a partnership with Bombora, a globally recognized firm that offers intent data for business-to-business sales and marketing. This strategic partnership will see Bombora’s comprehensive third-party intent data integrated within the Albacross platform, the first partnership in Europe. Integrating Bombora’s surge will enhance the Albacross customers with insights into buyer intent, enabling effective go-to-market strategies.   
•    In November 2023, Intellimize, an A.I. experience optimization platform, announced the launch of Artificial Intelligence-powered Account Based Marketing Experiences (ABX). Intellimize’s recent feature releases, alongside their ABM partner integrations, allow marketers to efficiently orchestrate personalized experiences across every touchpoint in the buyer’s journey.   
•    In November 2023, 6sense, the platform to revolutionize how business-to-business organizations create, manage, and convert pipelines to revenue, launched 6sense Campaigns for LinkedIn, a new campaign management integration with LinkedIn. This integration provides a comprehensive advertising solution, allowing 6sense consumers to launch cost-effective, hyper-targeted LinkedIn account-based marketing campaigns directly within the 6sense revenue A.I. platform. 
•    In September 2023, Jambo, a business-to-business account-based marketing platform with offices in Europe and the United States, acquired the administration of U.K. marketing and advertising tech company Expandi Group. This deal will give the U.K. company access to key markets in North America and the Asia Pacific regions.   
•    In June 2022, Doceree, a global platform building unusual solutions for HCP programmatic marketing with proprietary data tools, launched Doceree ABM, an account-based marketing solution built exclusively for life sciences organizations that enables them to reach institutional decision-makers based on accounts and intent.   
•    Only Evergage's real-time personalization platform delivers The Power of 1, enabling marketers to use Account-Based Marketing (ABM) to identify and convert website visitors from target accounts.  
•    Act-On is a new-age marketing automation tool designed to provide a complete suite of applications, such as email marketing, visitor tracking on websites, lead management, control of social media accounts, reporting and analytics, and incorporations with webinar and event planning.

DETAILED SEGMENTATION OF THE GLOBAL ACCOUNT-BASED MARKETING MARKET INCLUDED IN THIS REPORT

This research report on the global account-based marketing market has been segmented and sub-segmented based on the account type, component, deployment model, organization size, industry, and region.

By Account Type

• Strategic Account-Based Marketing
• Account-Based Marketing Lite
• Programmatic Account-Based Marketing

By Component

• Tools
• Services

By Deployment Model

• On-premises
• Cloud

By Organization Size

• Small and Medium-sized Enterprises (SMEs)
• Large Enterprises

By Industry

• Telecommunications and IT
• BFSI
• Retail and eCommerce
• Healthcare and Life Sciences
• Automotive and Manufacturing
• Government and Public Sector
• Others (Education, and Construction and Engineering)

By Region

• North America
  • The United States
  • Canada
  • Rest of North America
• Europe
  • The United Kingdom
  • Spain
  • Germany
  • Italy
  • France
  • Rest of Europe
• The Asia Pacific
  • India
  • Japan
  • China
  • Australia
  • Singapore
  • Malaysia
  • South Korea
  • New Zealand
  • Southeast Asia
• Latin America
  • Brazil
  • Argentina
  • Mexico
  • Rest of LATAM
• The Middle East and Africa
  • Saudi Arabia
  • UAE
  • Lebanon
  • Jordan
  • Cyprus