Dublin, April 03, 2023 (GLOBE NEWSWIRE) -- The "Global Marketing Attribution Software Market Size, Share & Industry Trends Analysis Report By Component, By Type, By Deployment Mode, By Organization Size, By Vertical, By Regional Outlook and Forecast, 2022 - 2028" report has been added to ResearchAndMarkets.com's offering.
The Global Marketing Attribution Software Market size is expected to reach $7.2 billion by 2028, rising at a market growth of 13.7% CAGR during the forecast period.
Key Market Players
List of Companies Profiled in the Report:
- Oracle Corporation
- Google LLC (Alphabet, Inc.)
- SAP SE
- Adobe, Inc.
- Merkle Inc. (Dentsu Group Inc.)
- Neustar, Inc. (TransUnion LLC)
- HubSpot, Inc.
- Nielsen Holdings plc (Elliott Investment Management L.P.)
- Ruler Analytics Limited
- Windsor Group AG
Companies employ marketing attribution software to identify the activities, occasions, or touchpoints that contribute to the effectiveness of their marketing and sales teams during the prospecting and sales processes. It's quite challenging to determine what made a closed deal effective because it frequently involves balancing several variables and circumstances that may occur in any sequence.
Based on the impact each factor had on the customer or prospect throughout their contacts with the business, companies utilize marketing attribution software to assign a value to each factor that might have contributed to the success of a sale.
Since marketing attribution software frequently integrates with other marketing and software tools used by sales, marketing, or public relations departments, such as CRM, email marketing, demand generation, marketing automation, email tracking, or sales analytics tools, it is a hub software that gathers data from other marketing and software tools.
Marketing teams need cutting-edge analytics solutions that can precisely and quickly transform massive data into person-level insights that can be applied for in-campaign adjustments to attain the level of data granularity necessary for effective attribution. Marketing attribution is much more crucial because of the variety of this data and the sheer number of potential touchpoints.
In addition, because analytical tools may pull information from various sources, the lessons from this attribution provide a complete view of business marketing performance and audience habits. When assessing marketing touchpoints, for instance, some analytical systems can consider asset kind, exposure order, and device type.
Market Growth Factors
Growing acceptance of cloud-based services and solutions
The majority of enterprises are embracing cloud-based strategies by dispersing their resources across multiple environments. As a result, the popularity of cloud-based marketing attribution solutions has increased due to their adaptability, scalability, and low cost.
It also enables enterprises to centrally evaluate data created from several places and acquire data from diverse applications or platforms, making data collection and analysis easier.
In addition, it permits the tracking of billions of events every day, the use of machine learning to connect the dots between views and purchases, and the visualization of results for clients and teams inside the company.
Monitoring client behavior for targeted marketing
It is essential for businesses to be able to take user behavior across devices into consideration as they continue to plow through the uncharted waters of digital marketing. Advertisers must be able to analyze data, accomplish cross-device attribution, and develop effective advertising strategies.
This change in the purchasing journeys highlights the requirement for accurate attribution of the digital consumer's path, starting with product awareness, purchase consideration, loyalty to the product, and product advocacy.
Market Restraining Factor
Concerns regarding privacy & security
As the use of SMAC technology has increased, companies require more rigorous security and privacy measures to prevent breaches, which, if not taken properly, can have a negative impact on the success of digitalization. As the amount of client data increases, so do the number of security & privacy concerns, making them increasingly vulnerable to hacker attacks.
Data privacy & security is a crucial concern that must be adequately addressed. Additional security concerns, such as account hijacking, insider threats, insecure Application Programming Interfaces (APIs), malware injections, shared vulnerabilities, and data loss, are more common in cloud-based marketing automation software.
Scope of the Study
By Component
- Solution
- Services
By Type
- Multi-source Attribution
- Probabilistic or Algorithmic Attribution
- Single-source Attribution
By Deployment Mode
- On-premises
- Cloud
By Organization Size
- Large Enterprises
- Small & Medium Enterprises (SMEs)
By Vertical
- Consumer Goods & Retail
- BFSI
- Telecom & IT
- Healthcare
- Travel & Hospitality
- Media & Entertainment
- Others
For more information about this report visit https://www.researchandmarkets.com/r/78sojg
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