Global Attribution Software Market was valued at US$ 1.1 Bn in 2021 and is expected to reach US$ 18.5 Bn by 2032, finds Future Market Insights (FMI) in a recent market survey. As per the findings of the report, attribution software solutions will garner significant demand in the market as the bulk of revenue will be generated through them. Revenue through attribution software solutions grew at a CAGR of 37.1% during 2015 – 2021.
Shift in Consumer Behaviour to Augment the Demand for Attribution Software
Businesses are investing more money on attribution software due to the growing trend of personalized marketing as a way to enhance the customer experience. Additionally, the software offers firms a number of benefits, including the ability to control marketing budget and measure the effectiveness of marketing channels and campaigns.
Moreover, the growing acceptance of Artificial Intelligence (AI), Big Data, and marketing platforms that cater to end users are critical reasons for the industry’s growth prospects.
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The US Continues to dominate the market for Attribution Software
Attribution Software market in the US to reach a valuation of US$ 6.6 Bn by 2032. From 2015 to 2021, the market revenue through the US grew at a CAGR of 36.9%, while between 2022 and 2032, it is predicted to witness a CAGR of 28.6%. According to a 2018 study, over 85% of US companies with at least 100 employees are using attribution software.
Over 85% of American businesses with at least 100 employees, according to a survey, use attribution software. The survey also sates, approximately 88% of businesses are expected to use the software in the upcoming future, and the uses of attribution software solutions is expected to rise. Between 2022 and 2032, the US is expected to be a market with a US$ 6.1 Bn absolute dollar opportunity.
Attribution Software Market: Competition Insights
The market for attribution software is highly competitive. To hold a prominent place in the market many companies are adapting numerous growth strategies like mergers, acquisitions, partnerships, and collaborations.
The key Attribution Software companies are Adobe, Oracle, Google, SAP, Visual IQ, Analytic Partners, Attribution, Calibermind, Engagio, Fospha, IRI, LeadsRx, Leandata, Marketing Attribution, Merkle, Neustar, Optimine, Rockerbox, Singular, Wizaly, The Nielsen Company, LLC, Bizible, IBM, Kvantum, Full Circle Insights, and Roivenue.
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Some of the recent developments by the key market players in the Attribution Software Market are:
- In July 2019, The Nielsen Company has announced a strategic partnership with Quotient Technology through which Quotient’s omni-channel purchase intelligence will be combined into Nielsen’s audience and performance measurement, enabling clients to take advantage of the newest developments in data-driven marketing.
- In June 2022, Wynta, a Singapore-based software company, and SCCG Management’s founder and CEO, Stephen Crystal, have partnered to distribute Wynta’s tracking and attribution software throughout the North American gaming industry.
- In February 2019, An Engagement Minute Attribution for Dash, an account-based attribution solution, was introduced by Engagio, a key market player in marketing attribution software. It has been introduced as the first engagement-based attribution method that can assess the combined impact of marketing and sales efforts.
Key Segments Covered in Attribution Software Market Survey
Attribution Software Market by Component:
- Solutions
- Services
Attribution Software Market by Attribution Type:
- Single-Source Attribution
- Multi-Source Attribution
- Probabilistic or Algorithmic Attribution
Attribution Software Market by Deployment:
- On-Premises Attribution Software
- Cloud
Attribution Software Market by Enterprise Size:
- Small and Medium-Sized Enterprises
- Large Enterprises
Attribution Software Market by Industry Vertical:
- Retail
- FMCG and Consumer Packaged Goods
- Computing Products and Consumer Electronics
- Telecom and IT
- Banking, Financial Services, and Insurance
- Media and Entertainment
- Healthcare
- Others
Attribution Software Market by Region:
- North America
- Europe
- APAC
- MEA
- Latin America
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