Dublin, March 23, 2023 (GLOBE NEWSWIRE) -- The "Marketing Attribution Software Market By Component, By Deployment Mode, By Type, By Organization Size, By Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.
The global marketing attribution software market was valued at $3.1 billion in 2021, and is estimated to reach $12.9 billion by 2031, growing at a CAGR of 15.5% from 2022 to 2031.
The Marketing attribution software Market is likely to experience a significant growth rate of 15.5% from 2022-2031, owing to increasing market demand from consumer goods and retail sector..
Marketing attribution is the practice of evaluating the marketing touchpoints a consumer encounters on their path to purchase. The goal of attribution is to determine which channels and messages had the greatest impact on the decision to convert, or take the desired next step.
There are several popular attribution models used by marketers today, such as multi-touch attribution, time decay, lift studies, and others. The insights provided by these models into how, where, and when a consumer interacts with brand messages allows marketing teams to alter and customize campaigns to meet the specific desires of individual consumers, thus improving marketing ROI.
Key factors driving the growth of the market include marketing attribution software is increasingly being implemented by marketers to boost their profitability and working capital. Enterprises must integrate their business functions, resources, and important business processes for monitoring probability to boost efficiency and productivity.
In addition, cloud-based marketing attribution software model gained popularity over traditional on-premise marketing attribution software, which is drive the growth of the market in the future. It has gained widespread popularity among end users, owing to numerous advantages connected with cloud-based technology.
On the contrary, marketing attribution software is anticipated to witness increased adoption and usage in the future, as it allows organizations to improve their performance and productivity. Furthermore, acceleration of digital transformation and implementation of industry 4.0 are expected to provide lucrative growth opportunities for the market. Moreover, increase in adoption of advanced technologies such as artificial intelligence (AI), automation and big data propel the growth of the market during the forecast period.
The marketing attribution software market key players profiled in the study include Adobe Inc., Alphabet Inc., Hubspot, Inc., Merkle Inc., Oracle Corporation, Ruler Analytics Ltd., SAP SE, The Nielsen Company, Windsor.ai, and Wizaly SAS.
The players in the market have been actively engaged in the adoption various strategies such as partnership, product launch, product development, collaboration, acquisition, innovation, expansion and investment to remain competitive and gain advantage over the competitors in the market.
Key Market Insights
By component, the solution segment was the highest revenue contributor to the market in 2021, and is estimated to reach $7,860.90 million by 2031, with a CAGR of 14.5%. However, the services segment is estimated to be the fastest growing segment with the CAGR of 17.3% during the forecast period.
By Deployment Mode, the On-Premise segment dominated the global market share in 2021, and is estimated to reach $6,127.92 million by 2031, with a CAGR of 12.9%. However, the hybrid segment is expected to be the fastest growing segment of during the forecast period.
Based on Type, the Multi-source Attribution segment was the highest revenue contributor to the market, with $1,624.97 million in 2021, and is estimated to reach $5,399.26 million by 2031, with a CAGR of 13.1%.
By organization size, the large enterprises segment dominated the global market share in 2021, and is estimated to reach $7,434.26 million by 2031, with a CAGR of 14.3%. However, the small and medium-sized enterprises segment is expected to be the fastest growing segment of marketing attribution software market during the forecast period.
Based on industry vertical, the Consumer Goods and Retail sector was the highest revenue contributor to the market, with $872.52 million in 2021, and is estimated to reach $2,733.04 million by 2031, with a CAGR of 12.4%.
Region wise, North America was the highest revenue contributor, accounting for $1,141.22 million in 2021, and is estimated to reach $3,919.82 million by 2031, with a CAGR of 13.5%.
Key Market Players
- Oracle Corporation
- SAP SE
- Alphabet Inc.
- Adobe
- Merkle Inc.
- Wizaly SAS
- Hubspot Inc.
- Ruler Analytics Ltd.
- The Nielson Company
- Windsor. ai
Key Market Segments
By Type
- Multi-source Attribution
- Probabilistic or Algorithmic Attribution
- Single-source Attribution
By Organization Size
- Large Enterprises
- Small and Medium-sized Enterprises
By Industry Vertical
- Consumer Goods and Retail
- IT and Telecom
- BFSI
- Media and Entertainment
- Healthcare
- Travel and Hospitality
- Others
By Component
- Solution
- Service
- By Deployment Mode
- On-Premise
- Cloud
By Region
- North America
- U. S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
For more information about this report visit https://www.researchandmarkets.com/r/6i19ux
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