Technological transformations have given rise to a modern mode of marketing, owing to changing customer patterns, such as social and mobile technology. Furthermore, the increasing trend of personalized marketing and the proliferation of mobile devices and channels have complicated the marketer's strategy toward enhanced user experience. To address these issues, companies are deploying a variety of marketing strategies across multiple channels. These complex activities are responsible for increased marketing spending by enterprises. Enterprises leverage marketing allocation software and services to optimize their marketing spending and calculate the Return on Marketing Investment (ROMI). Marketing assignment software also offers details about the most effective marketing platform or touch point. Marketing assignment provides a range of opportunities to companies, such as channel and campaign success assessment, data-driven decision-making, and marketing spending management. Irrespective of such incentives, the majority of the advertisers still use the conventional method of measuring ROMI.

Attribution Type Segment

In terms of attribution, the market is bifurcated into single-source attribution, multi-source attribution, probabilistic or algorithmic attribution. In the year 2019, the multi-source attribution segment holds the largest market share. Each medium involved in the final lead conversion is given credit via multi-source attribution. It records the entire customer experience and attributes credit to different touch points, including all channels, such as webinar advertising, Facebook posts, and eNewsletters. The individual contribution of various networks is not calculated by this attribution type and is difficult to enforce. Six different models, namely, linear, time decay, U-shaped, W-shaped, full path, and custom models, and have multi-source attribution.

Deployment Segment

Based on the deployment segment, the market is segmented into on-premises and Cloud. The on-premise segment leads the market growth in 2019 and it is anticipated to hold its position during the forecast years. Data security issues by end-users lead to a more global acceptance of on-premises marketing attribution solutions. The on-premises marketing attribution program is primarily used for big estates since they are more able to spend. On the contrary, the cloud segment is projected to accumulate major growth in forthcoming years.

Enterprise Size Segment

Based on the enterprise size, the market is segmented into small & medium, and large enterprises. The large enterprise segment leads the market growth in 2019 and it is anticipated to hold its position during the forecast years. The market growth of this segment is mainly attributed to the Growing use of automated systems in major organizations due to their diverse and large number of field service activities. On the contrary, the small & medium enterprise segment is projected to accumulate major growth in forthcoming years.

Industry Vertical Segment

In terms of the industry vertical segment, the market is segmented into retail, FMCG and consumer packaged goods, computing products and consumer electronics, telecom and it, banking, financial services, and insurance, media and entertainment, healthcare, travel and hospitality, and others. In 2019 the telecom and IT vertical segment accumulated the major market share and it is expected to do so over the forecast years. The growth of the telecom and IT vertical in the marketing attribution software industry is said to have been fueled by the rise in the number of internet and mobile devices.

The North American region dominated the overall market in 2019 and it is projected to keep its position during the forecast years 2018-2028. However, the Asia-Pacific region is anticipated to gather the highest growth over the forecast years. The market growth in this region is mostly ascribed to the growing demand from businesses in the area for consistent data-driven marketing solutions. Besides, in different areas, the growing number of government regulations and enforcement is also boosting the market growth in this region.

The major players of the global Marketing Attribution Software market are Adobe, Google, SAP, Visual IQ, Oracle, Rockerbox, Neustar, Engagio, LeadsRx, and LeanData. Moreover, the market comprises several other prominent players in the market that Singular, Marketing Attribution, Attribution, and CaliberMind. The Marketing Attribution Software market consists of well-established global as well as local players. Besides, the previously recognized market players are coming up with new and advanced strategic solutions and services to stay competitive in the global market.