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CabinetM has released its Q2 2023 MarTech Innovation Report, a quarterly summary of new technology introductions, feature updates and acquisitions. Investment in martech companies decreased from $13.2 billion in Q1 2023 to $3.1 billion, with AI companies receiving the majority of the funding at $2.3 billion (75% of the total). AI continues to be a major player in the industry, with 34 new AI tools announced this quarter. M&A activity decreased significantly, with 26 acquisitions compared to 76 in Q2 2022 and 54 in Q2 2021. All CabinetM MarTech Innovation Reports can be accessed freely from LibraryM.
Q2 2023 was an exciting quarter for the martech industry, with a total of 128 new product announcements. AI tools dominated the new technology introductions, with 34 tools announced this quarter. This is a significant increase from previous quarters, likely due to the potential AI has for martech innovation. Investment in martech companies decreased overall from $13.2 billion in Q1 2023 to $3.1 billion in Q2, with the vast majority of this investment going to AI companies.
M&A activity saw a significant downturn in Q2, with 26 acquisitions compared to 76 in Q2 2022 and 54 in Q2 2021. This is a decrease of almost 50% from the previous quarter, with 40 acquisitions in Q1 2023. CabinetM will continue to monitor this trend closely.
CabinetM's Q2 2023 MarTech Innovation Report is available for free from LibraryM, with no registration or gate required. It is a valuable resource for technology-savvy business professionals, as it provides an in-depth overview of new technology introductions, feature updates, acquisitions and investments in the martech industry.
Originally reported by Martech: https://martech.org/martech-investment-declines-but-ai-companies-thrive-on-funding/
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