Growing adoption of AI and big data analytics in marketing activities are expected to provide opportunities for the marketing attribution software market growth
The global marketing attribution software market size is projected to reach nearly USD 9.70 billion by 2028. Besides, it is projected to gather a CAGR of above 17.0% over the forecast years 2021-2028. Increasing investment in digital marketing activities is pushing businesses to have a mechanism in place to assess the effects of marketing activities and the marketing channel's effectiveness. The increasing attention of companies on maximizing their marketing spending is one of the main driving forces for the marketing attribution software industry. There are also problems facing the marketing attribution software industry, such as the selection of appropriate marketing attribution vendors and templates.
Data regulations such as the General Data Protection Regulation (GDPR) are one of the restrictive factors impacting the growth of the marketing attribution tech industry, as GDPR makes it more difficult for suppliers to track personal data. The growing number of marketing platforms to meet end-users and the increasing acceptance of Artificial Intelligence (AI) and Big Data are growth opportunities in the industry.
The report also outlines the various characteristics of the global marketing attribution software industry by assessing the market from value chain analysis. Moreover, the marketing attribution software market report comprises various qualitative parts of the marketing attribution software industry in market restraints, essential industry drivers, and opportunities. Furthermore, the report provides a complete assessment of the market through company profiling and the competitiveness of the local as well as global vendors.
The marketing attribution software market has solid competition amongst the already well-known and new market players. Also, the marketing attribution software industry players are pursuing potential markets to seize a competitive lead among the other industry players by forming mergers & acquisitions, agreements, acquiring other companies & new startups, establishing collaboration & partnerships, and growing their business existence.
Based on the attribution segment, the market is bifurcated into single-source attribution, multi-source attribution, probabilistic or algorithmic attribution. In the year 2020, the multi-source attribution segment gathered the major growth and it is likely to maintain its position during the forecast years. The market growth of this segment is primarily ascribed to its increasing adoption as it tracks the entire consumer experience and assigns credit to several touchpoints, including all channels, such as advertisements, webinar media shares, and eNewsletters.
Based on the enterprise size, the market is segmented into small & medium, and large enterprises. The SME segment expected to grow at the highest CAGR during the forecast period. An increasing need for cost-effective, high-scalability, and improved device efficiency solutions to accelerate the acceptance of marketing attribution solutions by SMEs in the software sector for marketing attribution. The need to better apply marketing attribution models is the need for businesses to evaluate successful marketing strategies and maximize Return on Investment (ROI) in such competitive times to succeed.
The Asia-Pacific region is projected to accumulate the highest growth during the forecast years. The market growth in this region is mainly ascribed to the growing awareness among enterprises to smoothen their marketing activities. Besides, the rising need to interpret complex marketing data efficiently is likely to fuel the adoption of marketing attribution solutions is also boosting the market growth in this region. However, the North American region held the highest market share in 2019 and it is projected to remain dominant during the forecast years 2018-2028.
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 Marketing Attribution Software 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.
Segment Overview of Global Marketing attribution software Market
Component Overview, 2018-2028 (USD Million)
Attribution Type Overview, 2018-2028 (USD Million)
- Single-Source Attribution
- Multi-Source Attribution
- Probabilistic Or Algorithmic Attribution
Deployment Type Overview, 2018-2028 (USD Million)
Enterprise Size Overview, 2018-2028 (USD Million)
- Small and Medium-Sized Enterprises
- Large Enterprises
Industry Vertical Overview, 2018-2028 (USD Million)
- FMCG and Consumer Packaged Goods
- Computing Products and Consumer Electronics
- Telecom and IT
- Banking, Financial Services, and Insurance
- Media and Entertainment
- Travel and Hospitality
Regional Overview, 2018-2028 (USD Million)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- South America
- Rest of South America