65% of brands boost MarTech spending: Report

Mirum India and VML, part of the WPP Group, launched the 'India MarTech & CommerceTech Report 2024' today. The report offers a comprehensive exploration of India's MarTech and CommerceTech landscape, encompassing current trends and anticipated evolution over the next three years.
 
Building on insights from previous editions, the increasing role of online commerce in organizations prompted us to expand the scope of the MarTech report to include CommerceTech and make it more holistic. 

The 4th edition of the report reveals a significant shift in budget allocation towards MarTech, with over 65% of brands now investing more than 16%, compared to only 18% of brands doing the same in 2023. Further, into the report, multiple proof points indicate that the MarTech landscape has now matured.

Commenting on the report's launch, Mihir Karkare, Managing Director, Mirum India, said, "The India MarTech & CommerceTech Report 2024 is a culmination of responses received from over 250 marketing leaders alongside some great quality interviews. This integration with the design theme creates a wonderful sense of how MarTech, CommerceTech, and advertising are evolving together. With every edition of the report, we have seen the MarTech landscape evolve. The 4th edition is even more noteworthy with some surprising insights, industry-wise preferences, role-wise viewpoints, and more – everything packaged in one report!”

Amit Gupta, Managing Director, VML Commerce, added, “Today, the act of 'add to cart' has transcended mere convenience; it has become the cornerstone of modern commerce. This corroborates with the data revealed in our latest report indicating CommerceTech has evolved beyond its roots in Ecommerce, emerging as a strategic growth driver for businesses across diverse industries. Today, while the landscape has matured, marketers are looking at external partners to support their MarTech and CommerceTech strategies. I invite all the marketers to explore the report further, you'll uncover a wealth of captivating insights.”

The report is being presented in partnership with WebEngage, who has joined as a Retention Partner, and Exchange4media, who has come on board as a media partner for this report.

The report aims to empower the ecosystem stakeholders with actionable insights to navigate the ever-evolving MarTech and CommerceTech landscape effectively.

Access the entire report here.