The growth rate of corporate digital marketing spending slows down, while the MarTech market size steadily increases

In 2022, the total expenditure on digital marketing for enterprises in China reached 391.68 billion yuan. Affected by the pandemic, the market economy as a whole exhibited a downward trend, with a year-on-year growth of 9.7%, indicating a slight deceleration in the growth rate. As the digitalization process accelerates, China's internet users are becoming more accustomed to the data-driven environment of big data and artificial intelligence. Concurrently, business owners are facing challenges such as rising marketing costs, difficulty in improving marketing efficiency, and the challenge of acquiring professional talent, leading to an increased demand for digital transformation within enterprises. Driven by both supply and demand, the market size for MarTech service providers in 2022 reached 61.89 billion yuan, marking a year-on-year increase of 29.3% compared to the previous year.

Source： iResearch Consulting Institute