ID: MRFR/ICT/6006-HCR | 100 Pages | Published By Ankit Gupta on March 2023
As per MRFR analysis, the Marketing Attribution Software Market is evaluated to grow at a 13.50% CAGR. Several drivers are pushing the market to escalate such as the increasing use of highly advanced technologies
As per MRFR analysis, the Marketing Attribution Software Market is evaluated to grow at a 13.5% CAGR. Several drivers are pushing the market to escalate such as the increasing use of highly advanced technologies and the rising need for optimizing the marketing spending among enterprises. The market growth will further escalate due to the growing demand for efficient tracking of customer behaviour. This will be helpful for the enterprises for targeting potential customers.
Apart from that, the rapid increase in the use of the internet and smartphones has further propelled market growth. Even small and medium enterprises are projected to grow at the fastest speed. The growing Marketing Attribution Software Industry for adopting marketing attribution solutions among various organizations is fuelling the growth.
Various economies in the Asia-Pacific, Europe, and North America are also focusing upon marketing attribution solutions. Such as the North American region is projected to dominate the Marketing Attribution Software Business during the forecast period. Even the Asia-Pacific region is evaluated to grow at a rapid speed by the end of the forecast period. Thus, the stakeholders will be eventually highly benefitted from a huge return on investments.
COVID-19 AnalysisThe outbreak of COVID-19 disease had a huge impact upon the Marketing Attribution Software Market. Several economies across the world suffered huge losses as the business and industries collapsed due to lockdown. It had a negative impact as the focus shifted to the health care sector for better treatment of patients. As a result, the need for digitalization and specific software soared up. The key players also focused upon the improvement of technologies to enhance the customer’s experience. It is estimated that in the upcoming years, the market will thrive with huge benefits.
Market Dynamics:Drivers:Several drivers are pushing the market to escalate such as the increasing use of highly advanced technologies and the rising need for optimizing the marketing spending among enterprises. The market growth will further escalate due to the growing demand for efficient tracking of customer's behaviour. This will be helpful for the enterprises for targeting potential customers. Apart from that, the rapid increase in the use of the internet and smartphones will further improve the Marketing Attribution Software Industry
Restraints:There are major restraints that are speculated to hinder the Marketing Attribution Software Market Growth. One of the major issues is the concerns regarding the privacy and security of data. As the use of digital and online platforms is rising, the cases of cyber-attacks are also growing. To mitigate the risks, the enterprises will have to upgrade their systems to save their data for any security breach.
Opportunities:The growing investments by the stakeholders and key players will provide various opportunities for the Marketing Attribution Software Market. Further its diverse uses in various industries such as Telecommunication and IT, retail, government, and many more will promote market growth at a significant rate.
Challenges:Significant challenges are speculating to slow down the Marketing Attribution Software Market Profit. Adhering to strict data regulations can pose a challenge for the key players. Also, the maintenance of complex data efficiently without skilled professionals is a huge task.
Cumulative Analysis:With the growing demand for optimizing marketing spending and enhancing customer experience, the market will have a flourishing future. Marketing Attribution Software Market is estimated to grow at a Compound Annual Growth Rate (CAGR) of 15.3%. It is projected that the market value will increase up to USD 16 Billion during the forecast period 2021-2028.
Value Chain Analysis:The focus upon enhancing user experience by maintaining efficient data will drive the market at a substantial rate. Several investments, growing demand, and various other factors will further improve the value chain of the Marketing Attribution Software Industry.
Regional Analysis:On the basis of region, the market is divided into North America, South America, Europe, Asia-Pacific, and the Middle East. It is projected that the North American region will hold the largest Marketing Attribution Software Market Size. Several positive factors such as advanced infrastructure in developed countries like the US and Canada are propelling the market growth. The growing adoption of new technologies and demand to track customer's behaviour are the main factors of growth.
After that, the European region will hold the second-largest position in MAS Market. It is projected that Europe will grow at the highest CAGR during the forecast period. Along with that, the Asia-Pacific region will also experience the highest CAGR. The growing investments and establishment of new start-ups will further propel market growth. Hence, in the upcoming period, the demand and developing infrastructure will increase at a faster rate.
Competitive Landscape:Various key players promoting market growth by using various market strategies. They use different strategies such as collaborations, market analysis, acquisitions, mergers, partnerships, and many more. Some of the major Marketing Attribution Software Market Players are-
Recent Developments:In 2019, Caliberminds announced its partnership with a company called ZoomInfo which allows the customers to decrease the gaps between customers for marketing database.
Report Overview:The overview of the Marketing Attribution Software Business is as follows-
Report Score and Segmentation:
The report score of Marketing Attribution Software Market Analysis is to give insight into the growth and strengths of the market. The report is curated by collecting information from various secondary and primary sources. It also gives information about the opportunities, challenges, etc. The report also provides subtle information about the key players in the MAS Market.
|Market Size||$ 1.7 billion|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Component, Attribution Type|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Adobe Inc. (US), Oracle Corporation (US), Google (US), SAP SE (Germany), Visual IQ – A Nielsen Company (US), Analytic Partners, Inc. (US), Attribution LLC (US), Calibermind (US), Engagio (US), Wizaly (France), Singular (US), Rockerbox, Inc. (US), OptiMine (US), Neustar, Inc. (US) and Merkle Group Inc. (US).|
|Key Market Opportunities||The adoption of advanced technologies such as big data and AI are opportunities for the marketing attribution software market.|
|Key Market Drivers||The major growth driver for the market is growing need to optimize the marketing spending of enterprise. Another factor is the requirement of effective tracking of customer behavior for targeted marketing activities.|
The market will be expanding at a CAGR of 12.4 billion in its future expansion.
The major growth driver for the market is developing the need to optimize the marketing spending of enterprise.
The component, attribution type, deployment mode, organization size, vertical are the segments involved in the segmental analysis of the market.
North America, Europe, Asia-Pacific, Middle East & Africa, and South America are the key regions.
Adobe Inc. (US), Oracle Corporation (US), Google (US) are the top three companies investing heavily in the market share.
Marketing attribution is the process of assigning credits or values to various marketing channels or touchpoints, which are responsible for the sale of company's offerings.