In 2022, the global attribution software market was estimated to be worth around USD 1,500.3 million. With the increasing expenditure incurred on attribution software worldwide, the market is expected to reach a worth of about USD 1,912.9 million by the end of 2023.
According to FMI analysis, the overall market value could reach USD 24,644.8 million by 2033 with a projected CAGR of 29.1% until then. As per the survey report, during the years between 2018 and 2022, the attribution software market experienced year-on-year growth of 27%.
Technical advancements in social platforms and mobile devices are causing rapid changes in marketing and consumer behavior. As a result, several companies are changing their marketing plans, which raises the requirement for attribution software.
Businesses are investing more money in attribution software due to the growing trend of personalized marketing as a way to enhance the customer experience. Additionally, the software offers firms several benefits, including the ability to control marketing budgets 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.
One of the key drivers of the growth of the market for attribution software is multi-touch attribution. Multi-touch attribution accurately depicts how consumers interact with advertising in general. Further, this attribution methodology aids in the equitable distribution of the advertising budget by compensating several channels for their contributions to obtain the installation rather than just paying one partner.
| Attribute | Details |
|---|---|
| Global Attribution Software Market Valuation in 2022 | USD 1,500.3 million |
| Estimated Global Market Share in 2023 | USD 1,912.9 million |
| Forecasted Global Market Size by 2033 | USD 24,644.8 million |
| Projected Global Market Growth Rate from 2023 to 2033 | 29.1% CAGR |
| Historical Market Growth Rate from 2018 to 2022 | 27% |
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North America dominates the market for Attribution Software, due to the significant presence of large multinational corporations in the region, which primarily contribute to the market’s growth. Additionally, the region's adoption of multi-touch attribution software is expected to be fuelled by businesses' rising need to monitor client behavior to conduct targeted marketing.
The development of attribution software in the region is being supported by technological improvements and businesses' willingness to adopt new, cutting-edge solutions. Additionally, due to the dominance of key competitors in the market who provide multi-touch marketing attribution software, as well as its financial standing, it is able to spend primarily on the top tools and technologies for successful business operations in the region.
| Regional Market Comparison | Global Market Share in Percentage |
|---|---|
| North America | 28% |
| Europe | 22.3% |
The market with great potential for attribution software is Asia Pacific. The main driver of the market expansion in the region has been the existence of multiple large and medium-sized businesses as well as several growing small businesses in nations like China, India, Japan, and South Korea.
Large and medium-sized businesses hugely invest in the most recent technologies to watch consumer behavior and acquire a broad picture of the situation across their customer base. Businesses also make investments in boosting their IT infrastructure so that they can analyze massive data sets to gauge the success of their marketing initiatives. Further, these elements have a significant impact on the market for attribution software.
In the Asia-Pacific, there were about 35% more new small businesses operating in 2020 than there were in 2019, which is high than the global average of 32% and more than eight times the 4% of new large businesses. Further, the countries that show this trend the most are Australia with 73% increase, Japan with a 38% increase, and Thailand with 29% increase. These elements boost the region's demand for attribution software in an indirect manner.
The United States has the dominant market for attribution software, which is projected to be worth more than USD 6.6 billion by 2033. From 2018 to 2022, the market in the United States expanded at a CAGR of 36.9%. Between 2023 and 2033, the United States is expected to be a market with a USD 6.1 billion absolute dollar opportunity.
According to a survey, over 85% of businesses in America with at least 100 employees use attribution software. Around 88% of businesses are expected to use the software in the upcoming future, and the uses of attribution software solutions are expected to rise in the forthcoming years according to survey.
Another survey of marketers revealed that more than 80% of them intended to increase their investment in attribution software in 2019, thereby opening up various potential in the market for attribution software.
| Regional Market Comparison | Global Market Share in Percentage |
|---|---|
| The United States | 19.3% |
| Germany | 8.1% |
| Japan | 4.4% |
| Australia | 3.2% |
In 2022, China was the remarkably growing market after the United States. The market in the country is expected to reach a valuation of more than USD 1.5 billion by 2033.
The market in China has previously experienced a CAGR of 36.5% from 2018 to 2022 and is projected to experience a CAGR of 26.6% through 2033. China’s market for attribution software is expected to witness an absolute dollar opportunity of USD 1.2billion by 2033.
The largest Chinese eCommerce company JD.com and Nielsen have teamed up to introduce a "Multi-Touch Attribution" (MTA) product in China that might assist clients in determining the effect of their advertising and marketing expenditures on sales. Also, the MTA service, which makes use of anonymized data from JD.com's cloud infrastructure and its 236.5 million active users, as well as Nielsen's expertise in digital media monitoring data and analytics, was proposed jointly by the two companies.
Companies adopting multi-touch strategies are likely to notice small producers who struggle to gain enough credit in traditional attribution models, assisting an advertiser to ultimately determine value. Even though the increasing spending on marketing is expanding the market, there are a few factors that restrict the market’s growth.
The protection of personal data and data privacy is critical to marketing attribution software adoption. Also, the market's growth can be slowed by the different alternatives and selection of applicable attribution models and vendors.
The Covid-19 pandemic provided significant opportunities for the market as many people shifted to buying things online, thus increase the demand for attribution software.
| Regional Markets | CAGR (2023 to 2033) |
|---|---|
| The United Kingdom | 25.5% |
| China | 26.6% |
| India | 30.1% |
The market is notable in the telecom and IT verticals. The market for marketing attribution software in the IT and telecom sectors is anticipated to develop as the number of internet-connected and mobile devices increases.
Businesses in the telecom and IT sector are striving to successfully target new users while lowering the attribution rate of the existing clientele. To streamline their marketing initiatives and enhance the end-user experience, the world's leading telecom carriers are implementing marketing attribution software.
| Category | By Attribution Type |
|---|---|
| Top Segment | Multi-source Attribution |
| Market Share in Percentage | 43.4% |
| Category | By Industry Verticals |
|---|---|
| Top Segment | FMCG and Consumer Packaged Goods |
| Market Share in Percentage | 20.3% |
Market revenue through Cloud-based attribution software has witnessed a CAGR growth of 36.8% from 2018 to 2022, and the projected CAGR through this category is expected to be 28% during 2023 to 2033. Because it enables customers to access the attribution software from any device, cloud-based deployment earns the most money in attribution analytics.
The cloud provides simple deployment options, low prices, simple upgradeability and accessibility, and no upfront capital expenditure for the program purchase. Additionally, it decreases financial risks, lowers costs for information technology (IT), and boosts flexibility. Cloud-based marketing attributions solutions are preferred by the majority of businesses, particularly SMEs, as they lower operating costs and boost output.
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.
Some of the Recent Developments by the Key Market Players in the Attribution Software Market
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| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD million or US4 billion for Value and Units for Volume |
| Key Regions Covered | North America; Latin America; Europe; the Middle East & Africa; East Asia; South Asia and Oceania |
| Key Countries Covered | The United States, Canada, Brazil, Mexico, Germany, Spain, Italy, France, The United Kingdom, Russia, China, India, Australia & New Zealand, GCC Countries, and South Africa |
| Key Segments Covered | By Attribution Type, By Component, By Deployment Type, By Enterprise Size, By End Use Industry Vertical and By Region |
| Key Companies Profiled | Adobe; 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; Roivenues.r.o. |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The growth potential of the attribution software market is 29.1% through 2033.
Personalized marketing is increasing the global market trends.
The United States is likely to capture a share of 19.3% by 2033.
The United Kingdom market will capture a CAGR of 25.5% by 2033.
The United Kingdom, India, and China may witness significant growth in the market.
| Base year Market Value (2022) | USD 921.3 million |
|---|---|
| Projected year Market Value (2033) | USD 1,976.1 million |
| CAGR (2023 to 2033) | 7.3% |
| Anticipated Market Value (2022) | USD 35.16 Billion |
|---|---|
| Projected Forecast Value (2032) | USD 250.58 Billion |
| CAGR (2022 to 2032) | 21.7% |
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