The 2024 Marketing Technology Landscape Supergraphic reveals a total of 14,106 martech products, indicating a 27.8% growth YoY. This marks the 13th consecutive year of growth in the martech landscape. The net addition of products since last year is 3,068, up from 11,038 in 2023. Despite the substantial growth, the churn rate from 2023 to 2024 was only 2.1%, with 263 products disappearing from the landscape.
The growth of SaaS companies contributes to this trend, as they can continue operating with a set of paying customers and low COGS expenses for running in the cloud. The number of martech products in the market has seen a 9,304% growth from the first landscape in 2011 to the present, with a 41.8% compound annual growth rate (CAGR).
The software industry's transformation has been significant, with anyone able to create software in the cloud. Generative AI has accelerated this, inspiring developers to build new things on platforms like OpenAI, Gemini, Llama, Anthropic, etc., and facilitating development with AI-powered "co-pilots". There are now 1.8 million AI projects on GitHub.
Most of the 14,106 products are small businesses, startups, and side hustles specializing in a particular function, vertical, region, or platform ecosystem. These "long tail" ventures may not all be viable businesses in the long run, but they are continually replenished, similar to the over 400,000 marketing agencies worldwide.
The 2024 State of Martech Report includes results from a study on composability in martech and a deeper analysis of the 2024 martech landscape. The report reveals surprising findings that challenge conventional wisdom around martech stack management.
