20 stats every martech professional should know in 2021

In our latest Wildfire labs report, we examine the problems of martech marketing and provide five top tips for how vendors and brands can build a better comms plan for their martech products.But before you go and download that handy guide, here are 20 must-know stats about the martech landscape in 2021…

• Despite a huge number of acquisitions last year, there are still over 8,000 vendors operating in the martech space
• The average large enterprise has up to 120 tools in its martech stack
• 28% of marketers think that it's critical to reduce the number of martech vendors they currently buy from
• 36% of marketers think that it’s urgent to use fewer tools for their marketing activities
• 36% of marketers say that analytics is the most important tool at their disposal
• Before coronavirus, one in five marketing organisations had plans to increase their spending on marketing technologies in 2020
• Despite plans to increase budgets, martech spending as a percentage of budget is down 10% since 2018
• 88% of marketing leaders want to accelerate the execution of their campaigns
• Only 24% of marketing leaders strongly feel their martech solutions are strategic enables for their business
• 36% of marketers say that analytics is the most important tool at their disposal
• 83% of B2B marketers have invested in data analytics in 2020
• 65% of marketers expect to use martech to improve ROI, making it their number one priority
• 57% of marketers expect to use martech to improve the efficiency of their marketing
• Spending on AI-based martech solutions is projected to reach $52.2B by 2021
• 83% of marketers upgraded or replaced at least one martech application in the last 12 months
• 52% of marketers believe that disparate systems are the biggest barrier currently holding their marketing back
• 18% of CMOs believe they’ll have to deal with budget cuts in 2021
• The average marketing technologist spends 10+ hours a week using a marketing automation platform
• Marketers only use 61% of the functionality available in their martech portfolios
• Market research and competitive insights were the number-one use for martech platforms in 2020

Want to learn more about how your martech brand can get noticed? Download Wildfire’s “Why martech brands suck at marketing” ebook for free.