Growing need to track customer behavior for targeted marketing activities to drive the marketing attribution software market
The global marketing attribution software market size is expected to grow from USD 1.8 billion in 2018 to USD 3.6 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 14.4% during the forecast period. The marketing attribution software market’s major growth factors are rising need to optimize the marketing spend and effective tracking of customer behavior for targeted marketing activities. However, data privacy and protection of personal data is critical to marketing attribution software adoption.
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Probabilistic or algorithmic attribution segment to grow at the highest CAGR during the forecast period
Probabilistic or algorithmic attribution features data-driven conversion credits among all touchpoints and uses algorithms with machine learning or predictive analytics to figure out where the credit is due. This model analyzes both converting and non-converting customer journey across all channels. It further helps in identifying which marketing channels have the maximum impact and importance of different touchpoints across the customer journey.
Telecom and IT segment to hold the largest market size during the forecast period
Enterprises in the telecom and Information Technology (IT) vertical are focusing on effectively targeting new users and decreasing attribution rate of the existing customers. They are emphasizing on implementing effective marketing campaigns to increase its subscriber base, thus are targeting users via different online channels. The increase in the number of internet and mobile devices is said to have fueled the growth of the telecom and IT vertical in the marketing attribution software market. Marketing attribution solutions help telecom and IT enterprises to analyze effective digital channel to optimize its marketing spends and improve user experience. This vertical is at the forefront of leveraging marketing attribution solutions, due to the emerging need for effectively targeting an audience via a right communication channel.
Asia Pacific to record the highest growth rate during the forecast period
APAC is expected to grow at the highest CAGR during the forecast period, due to the increasing demand for marketing attribution software and services. Major APAC economies, such as China, Australia, New Zealand, and India, provide huge opportunities for vendors of marketing attribution software and services in the region. Meanwhile, North America is projected to hold the largest market size during the forecast period.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the marketing attribution software marketplace.
- By company type: Tier 1 – 38%, Tier 2 – 42%, and Tier 3 – 20%
- By designation: C-level – 40%, D-level – 35%, and Others – 25%
- By region: North America – 35%, Europe – 27%, APAC – 23%, MEA – 10%, and Latin America – 5%
Major vendors offering marketing attribution software and services across the globe include Adobe (US), Google (US), SAP (Germany), Visual IQ (US), Oracle (US), Rockerbox (US), Neustar (US), Engagio (US), LeadsRx (US), LeanData (US), Singular (US), Marketing Attribution (US), Attribution (US), CaliberMind (US), WIZALY (France), OptiMine (US), Analytic Partners (US), Merkle (US), Fospha (UK), and IRI (US).
The study includes an in-depth competitive analysis of these key players in the marketing attribution software market with their company profiles, recent developments, and key market strategies.
- The market study covers the marketing attribution software market size across segments. It aims at estimating the market size and the growth potential of this market across segments, such as attribution type, component, organization size, deployment type, vertical, and region.
- The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key benefits of buying the report
- The report would help the market leaders/new entrants in this market with the information on the closest approximations of the revenue numbers for the overall marketing attribution software market and sub segments.
- This report would help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies.
- The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.