That's correct. MarTech or marketing technology space is quite vast. Marketing, as a function, is dynamic and composed of various aspects. Marketers are not usually tech aware so they employ products that decrease their dependency on other functions, especially engineering.

If you study that graphic more you'll find a lot of solutions pitching the idea of 'no IT help required'. Trust me, that's huge relief for marketers. Another indication of a crowded space is demand. Demand for convenience.

Differentiation becomes really challenging in such a crowded space, I agree. From a product perspective, consistency in expanding the capabilities of your product can help set a long term relationship with the market. From the marketing perspective, positioning of the product should evolve in a manner that agrees with what's trending in the market.