Marketing Attribution Software Market Segmented By Single Source Attribution, Multi Source Attribution, Probabilistic Attribution Type in Solution and Service Components in Large and Small Enterprises
Industry: IT and Telecommunication
Published Date: May-2022
Format: PPT*, PDF, EXCEL
Delivery Timelines: Contact Sales
Number of Pages: 315
Report ID: PMRREP33085
The marketing attribution software market is likely to strengthen its hold in the global market at a promising CAGR of 13% between 2022 and 2032.
The marketing attribution software market size is valued at US$ 3.1 Billion in 2022 and is likely to reach US$ 10.6 Billion by 2032. Previously, the market was thriving at a much higher CAGR of 14.8% (2015-2021), resulting in a marketing attribution software market size of US$ 2.7 Billion in 2021.
The increased requirement to optimise marketing expenditure while analysing customer behaviour for targeted marketing activities has fuelled a boom in demand for marketing attribution software in recent years. As a result, the global sales of marketing attribution software have grown.
The marketing attribution software is projected to have increased demand in the coming years as more marketers use data-driven approaches for efficient marketing operations. It also offers a lot of advantages to businesses, such as marketing expenditure optimization and data-driven decision making, as well as performance measurement.
| Attributes | Details |
|---|---|
|
Marketing Attribution Software Market CAGR (2022-2032) |
13% |
|
Marketing Attribution Software Market Value (2022) |
US$ 3.1 Billion |
|
Marketing Attribution Software Market Value (2032) |
US$ 10.6 Billion |
Under the influence of COVID-19, the proclivity of end users towards digital platforms to shop for essential services. As a result, the demand for websites and eCommerce platforms is rising, thereby increasing the adoption of marketing attribution software market.
The increased requirement to optimise investments and effective tracking of client behaviour for targeted marketing operations are two important driving reasons for the marketing attribution software market. However, marketing attribution software usage is contingent on data privacy and personal data security – the concerns of which have risen sharply amidst the pandemic.
As per the marketing attribution software market analysis, technological improvements, such as social and mobile technologies, have resulted in significant changes in marketing and customer behaviour. Furthermore, the fast adoption of mobile devices and platforms, combined with developing trends in personalised marketing, has had an impact on marketers' and businesses' traditional customer experience strategies.
Companies are deploying advanced methods across numerous channels to address these difficulties, which has increased the marketing attribution software market adoption. These are the major factors that influence the marketing attribution software market's revenue maximisation.
The demand for marketing attribution software is likely to expand faster as businesses continue to focus on optimising marketing expenditure and increasing investments in digital marketing.
They're also focusing on effectively targeting new clients while lowering the attribution rate of existing users, which might help the marketing attribution software industry grow in the future.
Although the marketing attribution software industry is expected to develop in the next years, the marketing attribution software market's growth may be hampered by the different alternatives and selection of applicable marketing attribution models and vendors.
Furthermore, the demand for marketing attribution software business is hampered by strict data restrictions that make it impossible for providers to track personal information.
In the next years, the growing requirement to improve marketing expenditure and track customer behaviour for targeted marketing activities will drive demand for marketing attribution software. On the other hand, marketing attribution software usage is contingent on the security of personal data and data privacy. The rise in the number of internets and mobile devices is expected to stimulate growth in the marketing attribution software market for the IT and telecom industries.
As per the marketing attribution software market survey, because of the growing demand for efficient audience targeting, this vertical is at the forefront of adopting market attribution solutions, which is expected to drive market growth in the future years.
Furthermore, worldwide telco beneficiaries are implementing marketing attribution tactics to simplify their marketing campaigns and improve end-user experience. This could be another factor driving the worldwide marketing attribution software market forward in the approaching years.
| Attributes | Marketing Attribution Software Market |
|---|---|
|
CAGR (2022-2032) |
13% |
|
Market Value (2026) |
US$ 3.6 Billion |
|
Growth Factor |
The increased acceptance of artificial intelligence (AI) and big data, as well as the growing number of marketing platforms to meet end-users is expected to drive the marketing attribution software market forward. |
|
Opportunity |
Technological improvements, such as social and mobile technologies, have resulted in significant changes in marketing and customer behaviour. |
|
Key Trends |
The marketing attribution software business is being hampered by factors such as the selection of proper marketing attribution suppliers and templates. |
| Attributes | Social Media Analytics Market |
|---|---|
|
CAGR (2022-2032) |
24% |
|
Market Value (2026) |
US$ 9.3 Billion |
|
Growth Factor |
The expanding number of social media users, increased market emphasis, and competitive intelligence are the primary elements driving the expansion of social media analytics. |
|
Opportunity |
Social media networks generate a large amount of data which is expected to provide new opportunities in the market. |
|
Key Trends |
During the projection period, North America is expected to hold the biggest market share. Most organisations and verticals in North America regard sales and marketing management and competitive intelligence to be extremely effective. |
| Attributes | Marketing Automation Market |
|---|---|
|
CAGR (2022-2032) |
12.8% |
|
Market Value (2026) |
US$ 9.5 Billion |
|
Growth Factor |
The number of marketing channels available to reach end customers is increasing which is driving the market forward. |
|
Opportunity |
There is a high adoption of marketing automation solutions among SMEs which is changing the market outlook. |
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Key Trends |
IT spending is gradually expanding across firms in the region, which is expected to contribute to a spike in marketing automation adoption. |
The marketing attribution software market key trends and opportunities indicate that owing to the cloud-based distribution technique, users may access the software from anywhere and on any device, including personal PCs, laptops, and cellphones. Simple deployment options, low prices, quick upgradeability and accessibility, and no initial software investment are all advantages of the cloud deployment paradigm. It also cuts IT costs, reduces financial risks, and increases flexibility.
Organizations require solutions for efficiently managing and repurposing web-based content, as well as integrating it with other systems such as customer relationship management and marketing resource management. As a result, firms can increase their marketing efforts more cost-effectively.
This is expected to improve the demand for marketing attribution software drastically.
Small firms look into and choose cloud-based marketing attribution solutions since they help them save money and time.
Users can access the program from anywhere and on any device, including personal computers, laptops, and smartphones, thanks to the cloud-based deployment approach. The cloud deployment paradigm provides simple deployment options, low prices, easy upgradeability and accessibility, and no initial software investment. It also decreases IT expenses, lowers financial risks, and boosts flexibility.
The marketing attribution software market is segmented into component, attribution type, deployment, organisation size, vertical and region.
By component, the marketing attribution software market can be segmented into services and solutions.
The marketing attribution software market size can be segmented into single-source attribution, probabilistic or algorithmic attribution and multi-source attribution.
By deployment type, the market can be segmented into cloud and on-premises.
The marketing attribution software market share can be segmented into small- and mid-sized Enterprises and larger enterprises.
By vertical, the market can be segmented into retail, travel and hospitality, media and entertainment, telecom and IT, FMCG and consumer packaged goods, healthcare, banking, financial services and insurance, computing products and consumer electronics and others.
During the projection period, the telecom and IT segment will have the biggest marketing attribution software market share. Enterprises in the telecommunications and information technology (IT) industries are concentrating on effectively reaching new users while lowering the attribution rate of existing clients.
The expansion of the telecom and IT vertical in the marketing attribution software market is attributed to the rise in the number of Internet and mobile devices. Marketing attribution software assists telecom and IT companies in analysing effective digital channels in order to optimise marketing spending and improve user experience.
Due to the growing necessity for efficiently targeting an audience via the appropriate communication channel, this area is at the forefront of implementing marketing attribution solutions.
Probabilistic or algorithmic attribution employs algorithms with machine learning or predictive analytics to determine where credit is due based on data-driven conversion credits across all touchpoints, and this segment is expected to lead the marketing attribution software market in the coming years.
Across all channels, this model evaluates both converting and non-converting consumer journeys. It also aids in determining which marketing channels have the greatest impact and importance at various touchpoints throughout the consumer journey.
In 2020, the marketing attribution software market in the United States was expected to be worth US$618.5 million. China, the world's second-largest economy, is expected to reach a projected market size of US$1.2 billion by 2027, representing a 17.3 per cent CAGR from 2020 to 2027.
Due to rising demand for marketing attribution software and services, APAC is predicted to develop at the fastest CAGR throughout the forecast period. Major APAC economies like China, Australia, New Zealand, and India provide enormous prospects for marketing attribution software and service providers. North America, on the other hand, is expected to have the largest market during the projection period.
| Regions | CAGR (2022-2032) |
|---|---|
|
United States |
12.8% |
|
United Kingdom |
11.9% |
|
China |
12.3% |
|
Japan |
11.3% |
|
South Korea |
10.8% |
Major key players in the marketing attribution software market include Adobe, Google, SAP, Visual IQ, Oracle, Rockerbox, Neustar, Engagio, LeadsRX, and LeanDa.
Adobe has established itself as a prominent brand among the market's major attribution software providers. The company is expanding its product portfolio by releasing new items and adding additional capabilities to existing ones.
It focuses on providing content creators, digital media experts, and online application developers with services. To improve its offerings, the corporation invests much in research and development. To strengthen its offerings and position in the market attribution software sector, it has used inorganic growth techniques, including acquisitions and collaborations.
Engagio, an industry leader in marketing attribution software, announced an Engagement Minute Attribution for Dash, the company's account-based attribution solution, in February 2019. It's the first engagement-based attribution system that can track the impact of both marketing and sales efforts.
| Attributes | Details |
|---|---|
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Forecast period |
2022-2032 |
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Historical data available for |
2015-2021 |
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Market analysis |
USD Bn for Value |
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Key Countries Covered |
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By Market Segments |
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Key Companies Profiled |
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Pricing |
Available Upon Request |
By Component
By Organization Size
By Attribution Type
By Deployment
By Vertical
By Region
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The marketing attribution software market is projected to have a CAGR of 13% through 2032.
The United States is the leading region with an anticipated value of US$ 3.7 Billion by 2032.
Multi-source attribution segment leads the market by business model type with the projected CAGR of 12.8% by the end of the forecast period.
The marketing attribution software market is predicted to grow US$ 10.6 Bn by 2032.
Telecom and IT segment leads the market with the projected CAGR of 13% from 2022-2032.
