New stats from HTF Market Intelligence reveal that the marketing automation software market will witness huge growth by 2023. This supports a prediction made earlier this year by Forrester who said global marketing automation spend will reach $25.1 billion by 2023 from $11.4 billion in 2017.

This comes as no surprise as marketing automation supports today’s fast-paced world where marketers are looking to talk to the right audience at the right time to generate sales and customer loyalty, all whilst trying to successfully balance everything else they do.

Marketing automation is a powerful tool as it allows brands to create profiles of their audience and use targeted messages. Most importantly, it helps saves time and effort. With this prediction set, it will be interesting to see what the likes of Hubspot do in the next few years.