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(IT-NEWSWIRE.COM, March 22, 2019 ) According to market research report "Marketing Attribution Software Market by Component (Solution and Services), Attribution Type (Single Source, Multi Source, and Probabilistic or Algorithmic), Organization Size, Deployment Type, Vertical, and Region - Global Forecast to 2023", 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 CAGR of 14.4% during the forecast period. An increasing need to optimize the marketing spend and effective tracking of customer behavior for targeted marketing activities are the major growth factors for the global marketing attribution software market.
It tracks the entire customer journey and attributes credit to multiple touchpoints, which include all sources, such as ads, social posts to webinars, and eNewsletters. This attribution type does not measure the actual contribution of different channels and is complex to implement.
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On-premises deployment mode to hold a larger market size during the forecast period
Data security concerns among end users are contributing to higher adoption of on-premises marketing attribution solutions, globally. The on-premises marketing attribution software is majorly deployed by large farms, as they have better ability to invest. Moreover, large farms have a wide variety of business segments serving to a broader geographic region, hence data security is of utmost importance.
SMEs segment to grow at a higher CAGR during the forecast period
A growing need for cost-effective solutions offering high scalability and enhanced system performance to drive the adoption of marketing attribution solutions among SMEs in the marketing attribution software market. The need to have a proper implementation of marketing attribution models becomes the need of the hour for enterprises to analyze effective marketing campaigns and optimize Return on Investment (RoI) to thrive in such competitive times.
North America to hold the largest market size during the forecast period
North America is expected to account for the largest market size during the forecast period. The region comprises developed countries, such as the US and Canada, and is considered the most advanced region in terms of adopting digital technologies. The growing need among enterprises to track customer behavior with the aim of targeted marketing is expected to drive the adoption of marketing attribution solutions in the region. Technological advancements and willingness to adopt innovative new technologies among enterprises are contributing to the growth of the marketing attribution solutions in this region. North America is expected to be the most promising region. The region has a wide presence of key industry players offering marketing attribution solutions, and its financial position enables it to invest majorly in the leading tools and technologies for effective business operations.
Major vendors offering marketing attribution solutions 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).
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Mr. Shelly Singh
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raviraj.tak@marketsandmarkets.com
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