Marketing Attribution Software Market

WILMINGTON, DE, UNITED STATES, February 8, 2024 /EINPresswire.com/ -- Allied Market Research published a report, titled, "Marketing Attribution Software Market Analysis by Component (Solution and Service), by Deployment Mode (On-Premise and Cloud), by Type (Single-Source Attribution, Multi-Source Attribution, and Probabilistic or Algorithmic Attribution), by Organization Size (Large Enterprises and Small and Medium-Sized Enterprises), and by Industry Vertical (Consumer Goods and Retail, IT and Telecom, BFSI, Media and Entertainment, Healthcare, Travel and Hospitality, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2031."

According to the report, the global marketing attribution software industry generated $3.1 billion in 2021, and is estimated to reach $12.9 billion by 2031, witnessing a CAGR of 15.5% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscape, and competitive scenario.

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Marketing attribution software helps marketing teams to aggregate and normalize consumer data from across channels to ensure each interaction is properly weighted. Furthermore, businesses have shifted toward digitalization and increased implementation of Industry 4.0 to cope with ongoing tough business competition, which creates the need for seamless solution and platform to meet the businesses requirements, which eventually boost the adoption of marketing attribution software in various sectors rapidly.

Growing focus of firms on increasing their marketing expenditure is expected to drive the growth of the global marketing attribution software market. In addition, the marketing attribution software also provides firms with various advantages such as enhanced personalization, optimizing marketing expenditure of firms, and assisting firms in adding new features to their products. This, in turn, will help in expanding the scope of demand for marketing attribution software across various sectors. Nevertheless, increase in investments across BFSI, IT & telecom, and healthcare sectors will create new growth opportunities for the global market.

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Covid-19 Scenario

The outbreak of the COVID-19 pandemic favorably impacted the growth of the global marketing attribution software market. This was due to the focus of firms on the use of AI-driven solutions, cloud computing, and automation for expanding their business during the COVID-19 pandemic.
Furthermore, during the COVID-19 pandemic period, firms changed their digital transformation plans and added marketing attribution tool in their routine business activities. This accelerated the demand for marketing attribution software during the pandemic timespan.

Based on region, the market in the North American region held the largest market share in 2021, accounting for more than one-third of the global marketing attribution software market share. The growth of the regional market during the forecast timeline is due to the increase in usage of marketing attribution software solution in BFSI, travel, healthcare and other sectors to improve businesses and customer experience. However, the Asia-Pacific region is likely to dominate the global market share and record the highest CAGR of nearly 17.9% during the forecast timeline. The growth of the market in the region over the forecast period can be credited to the increase in penetration of advanced technology and higher adoption of cloud-based solution and services. The other regions discussed in the report are Europe and LAMEA.

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Leading Market Players

Adobe Inc.
Alphabet Inc.
Hubspot, Inc.
Merkle Inc.
Oracle Corporation
Ruler Analytics Ltd.
SAP SE
The Nielsen Company
Windsor.ai
Wizaly SAS

The report analyzes these key players of the global marketing attribution software market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.

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