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 Compound Annual Growth Rate (CAGR) of 14.9% during the forecast period. The major factors driving the growth of multi-touch marketing attribution software market are rising need to optimize marketing spend and growing number of marketing channels to reach end customers.
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.
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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.
The major multi-touch marketing attribution software vendors 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). These players have adopted various growth strategies, such as partnerships, agreements, and collaborations, and new product launches, to further expand their presence in the global multi-touch marketing attribution software market. Partnerships and new product launches have been the most dominating strategies adopted by the major players from 2016 to 2018, which have helped them innovate their offerings and broaden their customer base.
Adobe is a leading company that offers multi-touch marketing attribution software and services. The company offers comprehensive products, solutions, and services and helps its customers effectively make, manage, measure, and monetize their digital content across channels. The company’s Adobe Analytics Cloud helps businesses understand customer journeys across devices while improving RoI. The company keenly focuses on developing cost-effective and easy-to-deploy innovative technology solutions and adopts both organic and inorganic growth strategies. For instance, in October 2018, the company acquired Marketo to offer a combination of Adobe Experience Cloud’s analytics, personalization, and content capabilities with Marketo’s lead management, account-based marketing, and revenue attribution technology to its customers. Furthermore, in March 2018, Adobe launched Adobe Experience Cloud Device Co-op, a network that helps brands better understand their customer’s journeys and enable them to offer personalized and enhanced brand experience across devices to their customers.
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SAP is another leading company that offers multi-touch marketing attribution software and services. The company’s diverse portfolio includes applications, technologies and services, and SAP business network segments. The company’s innovative solutions help businesses improve RoI by leveraging advanced technologies, such as IoT, ML, and AI. Under the multi-touch marketing attribution software market, the company offers SAP customer attribution. SAP’s customer attribution helps marketers gain insight into the performance of each marketing touch point and enable them to understand the complete customer journey. The company has adopted various growth strategies to expand its market reach and enhance its offerings for providing customers with comprehensive solutions. For instance, in June 2018, SAP introduced SAP C/4HANA and SAP HANA Data Management Suite for helping businesses retain their customers. The SAP C/4HANA is an integrated offering to modernize legacy CRM solutions. The SAP HANA Data Management Suite enables organizations to gain visibility and control of their highly distributed data.
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