CHICAGO, March 11, 2019 /PRNewswire/ -- According to a new market research report "Multi-Touch Marketing Attribution Software Market by Component (Solution and Services), Organization Size (SMEs and Large Enterprises), Deployment Type (Cloud and On-Premises), Vertical, and Region - Global Forecast to 2023", published by MarketsandMarkets™, the global Multi-Touch Marketing Attribution Software Market size is expected to grow from USD 816 million in 2018 to USD 1,634 million by 2023, at a CAGR of 14.9% during the forecast period.
An increasing need to optimize the marketing spend and growing number of marketing channels to reach end customers are major growth factors for the global Multi-Touch Marketing Attribution Software Market.
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The services segment is expected to grow at a higher CAGR during the forecast period
The Multi-Touch Marketing Attribution Software Market, by service, is segmented into integration and implementation services, advisory services, and support and maintenance services. Services play an important role both before and after the implementation of the multi-touch marketing attribution solution. These services provide assistance during the different phases of planning, deploying, maintaining, and upgrading the multi-touch marketing attribution solution. Integration and implementation services help users efficiently deploy/integrate the attribution solution on customers' in-house environment. Advisory services assist enterprises in identifying the best possible attribution solution depending upon the customer need. Additionally, support and maintenance services are offered by vendors to help manage the operational challenges faced by enterprises. With the increasing adoption of the multi-touch marketing attribution solution, the need for these associated services is expected to increase among enterprises as these services assist in reducing costs, increasing the overall revenue and improving the performance. Furthermore, with the help of these services, organizations can easily track, evaluate, and analyze their requirements to make informed business decisions.
The larger enterprises segment to hold the largest market size during the forecast period
The adoption of the multi-touch marketing attribution solution by large enterprises is high, and the trend is expected to continue during the forecast period, following larger financial bandwidth to experiment the newer technologies and to have a competitive edge among their competitors. The large enterprises are heavily investing in advanced technologies to increase their overall productivity and efficiency. With the ever-increasing data volumes, large enterprises need to invest in the IT infrastructure for analyzing large volumes of data sets to measure the effectiveness of marketing campaigns.
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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 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 multi-touch 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 multi-touch marketing attribution solutions, and its financial position enables it to invest primarily in the leading tools and technologies for effective business operations.
Major vendors offering marketing attribution solutions and services across the globe include Adobe (US), SAP (Germany), Visual IQ (US), Oracle (US), Neustar (US), LeadsRx (US), LeanData (US), Merkle (US), Roivenue (Czech Republic), C3 Metrics (US), AppsFlyer (US), Equifax (US), Windsor.ai (Switzerland), Manthan (India), and Oribi (Israel).
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