According to a publication of Information Technology Services Marketing Association (ITSMA), approximately 99% of marketers achieve higher ROI through account-based marketing strategies (ABM strategies). Additionally, 28% of the overall economic budget is spent on ABM programs in well-known B2B companies such as SAS. This resonates with the rising adoption of ABM in the business market since it reaches target accounts and boosts high-income growth in close collaboration with sales and marketing teams. The emergence of ABM in the competitive business scenario offer opportunities to both SMEs and large enterprises to focus upon large account stakeholders. Unlike other conventional marketing strategies, ABM upholds the business experience and strengthens the bond with customers through fewer efforts on different marketing campaigns. These kinds of strategies leverage huge profit and rising public demand through personalized services, hence ABM market accounted for $736.2m in 2018, with rising at a CAGR of 13.53% during the forecast period 2019-2025.
The U.S. is one of the largest countries with the rising business economy. Additionally, the region is a huge base for major enterprises. To amplify the business growth in this region, there is a huge demand for the ABM market to fortify the relationship among the investors and shareholders. Besides, major technology-based companies such as Hubspot have headquarters in the U.S. Owing to this demand, North America contributed a major regional share of 39.28% to the global ABM market value. Besides, with rising globalization, the IT sector is taking up new challenges to survive in the long-run. By adopting modern services such as ABM, the IT industry is overcoming the challenges of traditional marketing concepts. Consequently, the demand generated from the IT industry in the ABM market is anticipated to increase at a CAGR of 15.89% during the forecast period 2019-2025.
ABM Market Growth Drivers:
Large enterprises focus on increasing profit-margin by adopting modern business strategies, one such being the revolutionary ABM approach of aligning sales and marketing channels through personalized campaigns and content specifications. Not only this method increases ROI, it also expands the customer base of the companies. With these huge prospects for the enterprises, the ABM market is expanding its global reach.
ABM Market Companies:
The leading market players in the ABM market are Adaptive Intelligence, Jabmo, Demandbase, Triblio, Insideview, Celsius GKK, Engagio, Drift, SourceMedia, Terminus, Radius Intelligence, 6Sense, Evergage, Act On Software, Hubspot, and many others.
6Sense deals with the demands of immediate ABM oriented tasks and technologies through next-generation AI platform, which powers the business activities and leverage huge prospects for the B2B platform.
ABM Market Trends:
Digital marketing along with ABM is transforming today’s businesses. AI intervention in ABM and digital marketing are drawing potential customers to the companies. It uplifts business models by easily enhancing communication and transparency between stakeholders. Additionally, they help to increase the productivity and revenue of the companies thereby pushing forth the global ABM market growth.
ABM Market Research Scope:
The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the ABM market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of ABM in ABM market, and their specific applications in different areas.
ABM Market: Industry Coverage:
Global ABM market is bifurcated into account type, component, deployment model, organization size, and industrial vertical. Segmentation on the basis of account type include strategic ABM, ABM lite, programmatic ABM, and many others. Component classification include tools and services. By deployment model, this market is divided into on-premises and cloud. Categorization based on organization size include large enterprises and small and medium-sized enterprises. Sub segments under industrial vertical includes retail and e-commerce, government and public sector, healthcare and life sciences, automotive and manufacturing, and so on.
The ABM market also analyzes the major geographic regions for the market and the major countries for the market in these regions. The regions and countries covered in the study include:
• North America: The U.S., Canada, Mexico
• South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
• Europe: The U.K., Germany, Italy, France, the Netherlands, Belgium, Spain, Denmark
• APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong
• Middle East and Africa: Israel, South Africa, Saudi Arabia