Market Size of Account-Based Industrying Market
Study Period | 2019 - 2029 |
Market Size (2024) | USD 0.92 Billion |
Market Size (2029) | USD 1.63 Billion |
CAGR (2024 - 2029) | 12.10 % |
Fastest Growing Market | Asia-Pacific |
Largest Market | North America |
Major Players*Disclaimer: Major Players sorted in no particular order |
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Account Based Marketing Market Analysis
The Account-Based Marketing Market size is estimated at USD 0.92 billion in 2024, and is expected to reach USD 1.63 billion by 2029, growing at a CAGR of 12.10% during the forecast period (2024-2029).
The Account-Based marketing is driven by the growing need to change the traditional, short-term goal of marketing, which is to get leads, into a more comprehensive strategy for long-term growth in sales.
- Even though inbound marketing is still essential for generating B2B lead generation, many marketers increasingly use ABM to regain control over the process, accelerate their acquisition cycles and discover more suitable ways to convert target accounts. The demand for ABM solutions on the market is driven by this shift from a reactive to a proactive marketing approach of B2B companies.
- The availability of vast data and advanced analytics tools has transformed the marketing landscape. ABM leverages data insights to identify ideal customer profiles, understand buying behavior, and create personalized campaigns. By harnessing data to drive decision-making and campaign execution, ABM allows marketers to optimize targeting, messaging, and engagement strategies, and engagement strategies resulting in higher conversion rates and ROI.
- Moreover, traditional advertising strategies usually aim to reach the broader possible audience and account for quality leads sometimes. By contrast, ABM focuses on quality rather than quantity. Companies are better capable of allocating resources efficiently and targeting accounts with a higher potential for conversion when they focus on groups of high-value accounts. The adoption of ABM is driven by this change from a broad spraying and prayer approach towards a more targeted and efficient strategy.
- As the implementation of ABM solutions requires significant resources in terms of time, budget, and workforce, developing personalized campaigns for individual target accounts becomes tricky and challenges the growth of the account-based marketing market.
- Due to the introduction of lockdown as a pandemic measure globally, in-place meetings at office locations were no longer an option, and sales and marketing teams struggled to find new ways to stay close to customers and prospects. As a result, to get closer to customers and generate more interest and interaction across all touchpoints has been shifted to Account-Based Marketing (ABM) strategies. Thus, as B2B buyers changed their way of engaging with companies, marketers, and vendors are increasingly started using ABM solutions.
- Different sectors had various problems as a result of the pandemic. In such cases, customization gained key importance in targeting a particular account. Therefore, a growing number of companies are now using account-based marketing strategies.
Account Based Marketing Industry Segmentation
Account-based marketing (ABM) is a marketing strategy that looks at the market as a whole and focuses on allocating resources to high-value target accounts. It creates personalized and customized marketing campaigns to engage each account and enhance the customer experience while maximizing lead generation.
The account-based marketing market is segmented by component ( tools, services), deployment model (cloud, on-premises), end-user industry (retail & e-commerce, BFSI, IT & telecommunications, government, travel & tourism, healthcare & life sciences), and geography (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.
By Component | |
Tools | |
Services |
By Deployment Model | |
On premise | |
Cloud |
By End-user Industry | |
Retail & E-commerce | |
BFSI | |
IT & Telecommunications | |
Government | |
Travel & Tourism | |
Healthcare & Life Sciences | |
Other End-user Industries |
By Geography | |
North America | |
Europe | |
Asia-Pacific | |
Latin America | |
Middle East and Africa |
Account-Based Marketing Market Size Summary
The Account-Based Marketing (ABM) market is experiencing significant growth as businesses shift from traditional marketing strategies focused on broad audience reach to more targeted approaches that emphasize quality engagements with high-value accounts. This transition is driven by the need for B2B companies to regain control over their marketing processes, accelerate acquisition cycles, and enhance conversion rates through personalized campaigns. The availability of advanced data analytics tools has been pivotal in this shift, enabling marketers to identify ideal customer profiles and tailor their strategies accordingly. As a result, ABM is becoming an integral part of marketing strategies across various sectors, including the BFSI industry, where it helps in crafting personalized marketing messages that resonate with individual accounts.
The competitive landscape of the ABM market is characterized by a fragmented environment with numerous solution providers and ongoing innovations. North America is poised to maintain a dominant market share due to the presence of key ABM solution providers and the region's focus on targeted marketing strategies. Companies are increasingly investing in ABM technologies to streamline their marketing efforts and improve ROI. Strategic partnerships and acquisitions are common as market players seek to enhance their offerings and expand their global presence. The integration of AI and cloud computing technologies further supports the customization and efficiency of ABM solutions, driving their adoption across industries.
Account-Based Marketing Market Size - Table of Contents
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1. MARKET INSIGHTS
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1.1 Market Overview
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1.2 Porter's Five Forces Analysis
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1.2.1 Bargaining Power of Buyers/Consumers
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1.2.2 Bargaining Power of Suppliers
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1.2.3 Threat of New Entrants
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1.2.4 Threat of Substitute Products
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1.2.5 Intensity of Competitive Rivalry
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1.3 Assessment of the Impact of COVID -19 on the Market
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2. MARKET SEGMENTATION
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2.1 By Component
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2.1.1 Tools
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2.1.2 Services
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2.2 By Deployment Model
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2.2.1 On premise
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2.2.2 Cloud
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2.3 By End-user Industry
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2.3.1 Retail & E-commerce
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2.3.2 BFSI
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2.3.3 IT & Telecommunications
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2.3.4 Government
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2.3.5 Travel & Tourism
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2.3.6 Healthcare & Life Sciences
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2.3.7 Other End-user Industries
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2.4 By Geography
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2.4.1 North America
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2.4.2 Europe
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2.4.3 Asia-Pacific
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2.4.4 Latin America
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2.4.5 Middle East and Africa
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Account-Based Marketing Market Size FAQs
How big is the Account-Based Marketing Market?
The Account-Based Marketing Market size is expected to reach USD 0.92 billion in 2024 and grow at a CAGR of 12.10% to reach USD 1.63 billion by 2029.
What is the current Account-Based Marketing Market size?
In 2024, the Account-Based Marketing Market size is expected to reach USD 0.92 billion.