Marketing Attribution Software Market is Expected to Reach USD 12.9 Billion by 2031 | Top Players such as - Alphabet, Hubspot and Merkle

According to the report published by Allied Market Research "The Marketing Attribution Software Market is Expected to Reach USD 12.9 Billion by 2031 | Top Players such as - Alphabet, Hubspot and Merkle." These players have adopted different strategies such as new product launches collaborations expansion joint ventures agreements and others to increase their market share and maintain dominant shares in different regions.

The 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, the increase in investments across BFSI, IT & telecom, and healthcare sectors will create new growth opportunities for the global market.

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The marketing attribution software market is segmented into component, deployment mode, type, organization size, industry vertical, and region. By component, it is bifurcated into solution and services. Based on deployment model, it is segregated into cloud and on-premise. By type, it is categorized into single-source attribution, multi-source attribution and probabilistic or algorithmic attribution. By organization size, it is categorized into large enterprises and small & medium-sized enterprises. Depending on industry vertical, it is segregated into IT & telecom, consumer goods & retail, BFSI, media & entertainment, healthcare, travel & hospitality, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Based on deployment model, the on-premise segment captured the largest market share in 2021 and is expected to continue this trend throughout the forecast period. This is attributed due to the numerous advantages offered by the on-premise deployment such as a high level of data security and safety. Industries prefer on-premise model owing to high data security and less data breaches as compared to cloud based deployment models, which further drives the demand for on-premise deployment model within the sectors.

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Region-wise, North America dominated the market share in 2021 for the marketing attribution software market. The adoption of marketing attribution software growing steadily to meet increasing demands from today's businesses to enhance their business process and improve the customer experience will provide lucrative opportunities for the market in this region. However, Asia-Pacific is expected to exhibit the highest growth during the forecast period. This is attributed to the increase in penetration of advanced technology and higher adoption of cloud-based solution and services, AI, big data and IoT, are particularly fueling regional market growth.

The key players that operate in the marketing attribution software market analysis are Adobe Inc., Alphabet Inc., Hubspot, Inc., Merkle Inc., Oracle Corporation, Ruler Analytics Ltd., SAP SE, The Nielsen Company, Windsor.ai and Wizaly SAS. These players have adopted various strategies to increase their market penetration and strengthen their position in the marketing attribution software industry.

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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 tools in their routine business activities. This accelerated the demand for marketing attribution software during the pandemic timespan.

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