According to research from Forrester, global marketing automation spend is going to reach $25.1 billion by 2023 from $11.4 billion in 2017.
The technology is forecast to grow at a 14% compounded annual growth rate (CAGR) over the next 5 years, according to Forrester’s “Marketing Automation Technology Forecast, 2017 to 2023 (Global)” report.
The research projects that all the marketing automation technologies – through-channel marketing automation platforms, cross-channel campaign management software, content marketing platforms, lead-to-revenue management automation platforms, marketing resource management software, and real-time interaction management solutions – are going to grow over the next years.
5% of marketing decision-makers said they planned to increase spending on automation in the next year. One in five reported that the increase is going to be 10% or more.
The study also shows that investments in database and analytics technologies are going to grow at a 10.9% CARG by 2022.