For years, the MarTech landscape increased by 1500 applications per year. But not last year. Last year it only increased by a measly 240. So, what gives? Here are three top reasons the Martech landscape is slowing its pace and will continue to do so:
- In the last 12 months, we’ve seen a significant number of MarTech acquisitions and mergers, including some giants like SalesForce’s $15.7 billion acquisition of Tableau, Google acquiring Looker for $2.6 Billion, Reachforce acquiring Leadspace, and DiscoveryOrg acquiring Zoominfo for more than $500 million.
- Venture capital investments have been steadily decreasing since 2017. MarTech is simply not considered an emerging technology at this point in time, and these investments are going elsewhere.
- The General Data Protection Regulation (GDPR) and new privacy regulations are slowing down the MarTech world in a very real way. According to Marketing Tech News, 80% of marketers are worried their MarTech vendors will expose them to GDPR legal risks.
What does this mean? You may actually have a moment to look up and start to make sense of these 7000+ technologies in the market today. It’s time to figure out what moves the revenue needle without adding noise.
As more mergers and acquisitions take place, you will notice marketers buy more full-service providers rather than individual products. This is good news for organizations such as Adobe, Google, Oracle, and Salesforce.
May the most versatile service provider prevail.