1、The potential opportunity forMarTech inIndiaEach edition of the Mirum India MarTech Reportbrings in some new surprises and insights.TheMirum India MarTech Report 2023 is no different.For me,two things seem to stand out veryclearly:Depending on whom you talk to,the estimatedsize of the MarTech indust

2、ry in India is expectedto be anywhere between$35bn and$50bn by2026.This is indeed a sizeable opportunity anddemonstrates how brands are finding MarTechsolutions not only as the best and most cost-effective way to deliver the correct brandmessage to the right customer at the right timeover the right

3、channel,but also for creatingsome fabulous customer experiences that canresult in increased brand loyalty.It is interestingto note that while marketers globally spendabout 25%of their total budgets on MarTechsolutions and services,in India we are still atabout 15%(Page 11)which demonstrates aremarka

4、ble headroom for growth.1The emergence of MarTech EXPLORERSIn our last report,we saw a cohort(MarTechHEROES)who were not only using MarTechsolutions very effectively,but also seeing goodROI and were looking at making continuedinvestments in this area.Now in this report,wesee the emergence of another

5、 cohort(MarTechEXPLORERS).These are brands and businessesthat have not dabbled much in MarTech before,but now want to plow ahead to leveraging thepower of MarTech.Quite clearly,both these trends are linked toeach other and demonstrate the maturity of theIndian MarTech Ecosystem.While the world at la

6、rge prepares for a tough2023,India shines,and the MarTech industryshines even brighter.Hope you find the findings of this report usefuland valuable.Do feel free to share yourfeedback and observations with us.FOREWORDHareesh TibrewalaJoint CEO,Mirum India?INDIA MARTECHREPORT 2023FOREWORDWe are living