Marketing Attribution Software Market
Marketing Attribution Software Market Analysis By Component (Services, Solution), By Attribution Type (Single-Source, Probabilistic or Algorithmic, Multi-Source), By Deployment Type (Cloud, On-Premises), By Organization Size (Small- And Mid-Sized, Larger), By vertical (Retail, Telecom and IT, Others) - Global Insights 2023 to 2033
Analysis of Marketing Attribution Software Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Marketing Attribution Software Market Outlook (2023 to 2033)
Businesses use marketing attribution software to analyze how prospecting and sales-related activities, occasions, or touch points affect the effectiveness of their marketing and sales teams. Learning consumer attributes before they buy the product is done under the market attribution process in many organizations.
In recent years, there has been a surge in the demand for marketing attribution software, influenced by the growing need to optimize marketing spending while tracking customer behavior for targeted marketing activities. This in turn has led to the development of a global market.
The demand is anticipated to increase over the next few years as marketers adopt more data-driven strategies for efficient marketing activities. Also, it offers businesses a lot of advantages, including performance monitoring, data-driven decision-making, and optimization of marketing spend.
Without the use of third-party cookies, marketing attribution technology can aid in the budget justification and the planning of more successful tactics. Marketing and sales teams may provide additional value by combining customer journey data from several touchpoints and channels.
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What are impelling factors for market growth?
Tools for marketing techniques are used by marketers to attract, keep, and engage customers. The various forms of marketing technology, or MarTech, include content generation, analytics, and SEO. A marketing team can become more agile, and more productive, and strengthen customer interactions with the use of marketing technology.
Technological advancements including social and mobile technologies have brought a significant transformation in marketing as well as consumption patterns. In addition, the rapid penetration of mobile devices and channels coupled with emerging trends of personalized marketing has affected the traditional strategies of marketers and enterprises toward customer experience. In an effort to mitigate these issues, companies deploy advanced strategies over various channels which has increased the adoption. These are the important factor contributing to revenue maximization of the market.
The continued focus of enterprises on optimizing marketing spend and increasing investments in digital marketing are expected to accelerate the growth of the market. Further, they are concentrating on effectively targeting new customers while reducing the attribution rate of existing users which will possibly complement the future expansion of the market.
What are awaiting opportunities for manufacturers?
- Technology improvements now include social and mobile platforms, which offer considerable potential for enhancing marketing strategies and discovering consumer preferences.
- The client experience has changed as a result of personalized marketing and promotion advertisements. By the end of 2026, it is expected that the global revenue for software that personalizes the customer experience would surpass USD 11.6 billion. This will probably present chances for attribution software market participants.
- Businesses can use attribution models to determine which channels are most successful at turning leads into paying customers. By analyzing the return on investment (ROI) of its sales initiatives, a corporation can ascertain the efficacy of its marketing strategies.
- The rapid penetration of mobiles increasing social media and mobile users. The mobile users stood at USD 4.32 Billion in the historic period year 2021. Among total web traffic, mobile internet traffic amounts to almost 55%. This is sufficiently projecting the need for alterations in marketing tactics by the businesses to maintain the market edge.
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The rapid penetration of mobiles increasing social media and mobile users. The mobile users stood at USD 4.32 Billion in the year 2021. Among total web traffic, mobile internet traffic amounted to almost 55%. This is sufficiently projecting the need for alterations in marketing tactics by the businesses to maintain the market edge.
Without attribution, marketers are blind to the benefits they might get. As this process helps in understanding channels and is most effective in driving communique. Adobe, SAP, Oracle, Neustar, LeadsRx, Singular, Attribution, WIZALY, Analytic Partners, Fospha, Google, Visual IQ, Rockerbox, Engagio, LeanData, Marketing Attribution, CaliberMind, OptiMine, Merkle, and IRI are among the key players in the market.
- In February 2019, Engagio, a leading player in the marketing attribution software market, launched an Engagement Minute Attribution for Dash, the company’s account-based attribution solution. It has become the first engagement-based attribution that can measure the impact of both marketing and sales activities together.
- In October 2018, Adobe completed its acquisition of Marketo which enabled the company to offer a combination of content capabilities, personalization, and analytics of Adobe Experience Cloud and Marketo’s revenue attribution technology, account-based marketing, and lead management to the customers.
- In April 2018, LeadsRx, a leading provider launched a new product, specifically developed for the complex requirements of broadcast advertising. It offers attribution capabilities for broadcasters to gain in-depth insights into different types of programming, ads, and audiences that are highly effective.
- In September 2017, Visual IQ was acquired by Nielsen Holdings to enhance its ability to collect and process a large pool of datasets by employing Visual IQ’s.
Region Wise Insights
Based on the region North America is reigning in the market in terms of market share. The sector is growing with the demand from health, travel, and BFSI. Furthermore, customer experience is expected to give lucrative growth opportunities for manufacturers in this region. The higher personal incomes and high penetration of advanced technology are reasons for the dominance of this region in the market.
However, the shift of businesses to the cloud is a reason for the anticipated rise in cloud-based deployment in developing countries. The pandemic has influenced the market in a negative way but technologies like big data catering to the end users are key contributors estimated to drive the growth in the market in upcoming years.
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Adobe, SAP, Oracle, Neustar, LeadsRx, Singular, Attribution, WIZALY, Analytic Partners, Fospha, Google, Visual IQ, Rockerbox, Engagio, LeanData, Marketing Attribution, CaliberMind, OptiMine, Merkle, and IRI are among the key players in the market.
Segment wise Insights
Based on the deployment model, cloud and on-premise are two variants. While the on-premise segment is anticipated to continue holding a major share of the market due to the numerous advantages offered by this setup. The arrangement allows heightened data security and safety. The cloud segment is estimated to grow with the fastest CAGR in the forecast period due to the rise in the adoption of cloud in the process. Further cloud is easy to access and use, while it also saves the cost that drives growth further. This provides the scalability and flexibility that makes business processes more efficient which also fuels the growth of the overall market.
By Component :
By Attribution Type :
- Probabilistic or Algorithmic
By Deployment Type :
- On Premises
By Organization Size :
- Small- and Mid-Sized Enterprises
- Larger Enterprises
By Vertical :
- Travel and Hospitality
- Media and Entertainment
- Telecom and IT
- FMCG and Consumer Packaged Goods
- Banking, Financial Services, and Insurance
- Computing Products and Consumer Electronics
By Region :
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific
- Middle East and Africa
- FAQs -
The demand is predicted to rise at a stellar 13.1% CAGR across the forecast period (2023-2033).
Google, SAP, Oracle, Merkle, Adobe, and Fospha are prime companies in the market.
The United States holds a lion’s share in the global industry.