The global account-based marketing market is predicted to reach USD 0.68 billion in 2024 and USD 1.79 billion by 2032, growing at a CAGR of 12.9% during the forecast period.
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.
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.
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 METRIC |
DETAILS |
Market Size Available |
2023 to 2032 |
Base Year |
2023 |
Forecast Period |
2024 to 2032 |
CAGR |
12.9% |
Segments Covered |
By Account Type, Component, Deployment Model, Organization Size, Industry, and Region |
Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
Market Leaders Profiled |
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. |
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.
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.
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.
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.
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.
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.
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.
By Account Type
By Component
By Deployment Model
By Organization Size
By Industry
By Region
Frequently Asked Questions
Technological advancements such as AI, predictive analytics, and marketing automation platforms are revolutionizing Account-Based Marketing by enabling more precise targeting, enhanced personalization, and streamlined campaign management processes on a global scale.
Challenges include the complexity of implementation, data privacy concerns, alignment between marketing and sales teams, and the need for skilled personnel proficient in ABM strategies and technologies.
Regulatory frameworks such as GDPR in Europe and CCPA in the United States are influencing how companies collect, process, and utilize customer data for Account-Based Marketing initiatives, necessitating compliance measures and ethical data handling practices on a global scale.
Anticipated trends include the increasing integration of ABM with sales enablement technologies, the proliferation of AI-driven personalization at scale, the convergence of ABM with customer experience management, and the emergence of Account-Based Marketing as a fundamental strategy across industries worldwide.
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