Account-Based Marketing Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Account Type (Strategic ABM, ABM Lite, Programmatic ABM), By Offering (Solutions, Services), By Deployment Model (Cloud, On-Premise), By Enterprise Size (Small, Medium, Large), By End-User Industry (BFSI, Retail, Government, Healthcare, Automotive, Manufacturing, Communication And Technology, Others), And By Geography - Forecasts From 2022 To 2027

The account-based marketing market is projected to grow at a CAGR of 14.65% during the forecast period to reach US$1,274.416 million by 2027, from US$489.294 million in 2020.

The account-based marketing approach is more than a sales or marketing approach, it is a collaborative method that involves sales, marketing, subject matter expert, and delivery professionals as well as key executives in the chosen client account, who determines where and how to best meet the client’s unique business needs and challenges. Then this cooperative team develops a well-orchestrated marketing and sales campaign for a single account with in-depth knowledge of the client's business and main objectives. The account-based marketing has become an important element of effective marketing strategy in this new and competitive business environment. Furthermore, the growth of this market is being fueled by the rapid growth of social media platforms and the increasing traction of social media marketing across industries. As competition across industries continues to increase, players across them are adopting various growth strategies to increase their market share and achieve a competitive advantage. Many companies are increasing their focus on the identification of the right target audience, which is increasing the demand for account-based marketing, thus boosting the market growth. However, many enterprises are still reluctant to shift from traditional sales practices to new ones. Stringent regulations regarding data collection by enterprises are one of the major factors responsible for this reluctance, which is restraining the growth of this market.

Growth Drivers

The Account-based marketing market will grow due to the increasing need to transform the traditional, short-term marketing goal of generating leads with a holistic marketing strategy for long-term revenue during the forecast period. The IT and telecom industries are expanding significantly as a result of an increase in users who are producing massive volumes of data. Additionally, market participants are using account-based marketing more frequently in order to provide their clients with superior IT solutions and services. All of these elements are driving up demand for account-based marketing on a worldwide scale. Most major companies now use account-based marketing tools and services to analyze huge data to understand consumer behavior. With the aid of this technology, they may better serve their clients in a variety of industries, particularly the public sector, where there is a greater interest in focusing on certain job duties. There are more opportunities for a larger return on investment (ROI) by selecting this real-time software, without wasting any resources. These factors are expected to drive the account-based marketing market during the forecast period

The Account-based marketing market in the North American region is expected to hold a significant share during the forecast period as compared to other regions.

The rising adoption of a cloud solution increased internet connectivity, and the growing trend of online shopping are some of the prominent factors behind the growth of this market in the North American region. Furthermore, the US is the leading country in terms of innovative technological advancement and internet connectivity in North America. For instance, as per the US Federal Communications Commission’s Internet Access Services report, out of the 113 million fixed connections, a total of 57% (64.2 million) had at least 100 Mbps downstream speed as of June 2019. Furthermore, the Asia- Pacific region is expecting positive growth during the forecast period, owing to the growing internet users, and social media users in this region. Further, the growth can be attributed to the growing population and rising online shopping trend in Asia-pacific. For instance, as per the World Bank data, the East Asia-pacific has witnessed positive growth in Individuals using the internet. In 2015, 44% of the East Asia-pacific population (excluding high-income) was using the internet which grew to 67% in 2020. Thus, the growing internet accessibility and active internet users in this region are expected to propel the account-based marketing market during the forecast period.

Key Development

• In June 2020, Demandbase aquired Engagio. The Demandbase company claims that the acquisition creates the world’s most comprehensive ABM platform, that manages the complete journey of the buyer. The new comprehensive ABM platform aligns marketing and sales as a single team, so the buyer can acquire, grow and retain more customers.
• Terminus an account-based engagement platform built to deliver more pipeline and revenue through multichannel ABM announced the launch of its Connected Account Experiences platform to deliver first-party data to improve engagement with target buyers in April 2022. The newly launched platform is exclusively for marketers who are already using the ABM strategy and are currently searching to widen their scope of channels to engage prospects.

COVID-19 Impact

The pandemic resulted in a fundamental transition in the marketing sector due to a sudden shift of companies toward digital marketing. B2B companies need a platform to build a single view of their clients, identify key accounts, and quickly convert new leads into deals as customer demand for these digital experiences increases. Furthermore, the trend of online shopping surged during this period owing to stringent pandemic restrictions for the safety of the general public. For instance, as per a survey of 3,700 customers in nine emerging and developed economies found that the COVID-19 epidemic has permanently altered online shopping habits according to the UNCTAD’s COVID-19 and E-Commerce survey, October 2020. B2B marketing and loyalty strategies have evolved, particularly since COVID-19. The main objective today is to surpass the rivals, not just to win over customers but also to survive. Consequently, creating novel methods is much more important. Account-based marketing is one tactic B2B companies employ to maintain their competitiveness.

Key Market Segments

• By Account type
  • Strategic ABM
  • ABM Lite
  • Programmatic ABM
• By Offering
  • Solutions
  • Services
• By Deployment Model
  • On-Premise
  • Cloud
• By Enterprise Size
  • Small
  • Medium
  • Large
• By End-User Industry
  • BFSI
  • Retail
  • Government
  • Healthcare
  • Automotive
  • Manufacturing
  • Communication and Technology
  • Others
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Israel
    • Others
  • Asia Pacific
    • Japan
    • China
    • India
    • South Korea
    • Indonesia
    • Others

Frequently Asked Questions (FAQs)

Q1. What will be the global account-based marketing market size by 2027?
A1. The account-based marketing market is projected to reach a market size of US$1,274.416 million by 2027.

Q2. What is the size of the global account-based marketing market?
A2. Account-Based Marketing Market was valued at US$489.294 million in 2020.

Q3. What are the growth prospects for the account-based marketing market?
A3. The global account-based marketing market is projected to grow at a CAGR of 14.65% over the forecast period.

Q4. What factors are anticipated to drive the account-based marketing market growth?
A4. The Account-based marketing market will grow due to the increasing need to transform the traditional, short-term marketing goal of generating leads with a holistic marketing strategy for long-term revenue.

Q5. Which region holds the largest share of the account-based marketing market?
A5. North American region is expected to hold a significant share of the account-based marketing market during the forecast period.