With an expectation of growth to USD 1,279.4 million by 2023, the tag management software market 2020 is expanding at a remarkable CAGR of 12.9% during the forecast period of 2018-2023. The tag management software market is securing a robust development with digital marketing thrusting across the broader range of customer base. To understand the customer behavior and their preferences, tag management software records the unique customer behavior and stores it in the form of data for analysis. This permits its users to deploy and to streamline jobs as well. The process helps in smoothening the workflow and productivity of the operational system. Demand for customization can expand the tag management software market considerably.
On the flipside, other digital and web-based marketing strategies can dampen tag management software market’s prospect. It is also rare to find a technical hand proficient in operating such a process and come up with instant solutions which can bottleneck the tag management software market growth during the forecast period.
The tag management software industry can be segmented into application, solution, organization size, vertical, and deployment.
The application-based analysis of the tag management software market consists of campaign management, content management, user experience management, risk and compliance management, and others.
The solution-based tag management software market comprises of data governance, data quality, web analytics, customer analytics, artificial intelligence, and others. The data governance segment excels the most out of other segments.
The organization size-based tag management software market can be classified into small and medium enterprises (SMEs) and large enterprises. Large enterprises segment is dominating the market, whereas, SME segment is believed to be the fastest-growing market during the forecast period.
The vertical-based tag management software market includes IT and telecommunication, healthcare, retail, banking, financial services and insurance (BFSI), manufacturing, media and entertainment, and others. The manufacturing segment is the leading segment and is expected to be the fastest-growing segment during the forecast period.
The deployment-based tag management software market can be classified into on-premise and cloud. Cloud is believed to be the most excelling as well as the fastest developing segment.
Region-specific approach to analyze the tag management software market encapsulates North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW).
North America is dominating the global market by fetching a substantial market share each year. The regional infrastructure that backs the progress is top-notch. The region tends to incorporate innovative technologies rapidly so that it can win an edge over its peers which has also boosted the regional tag management software market considerably. The market is also rooting for the technology as it is cost-effective. Furthermore, a lot of big companies are operating from this region which is impacting the market in a positive way.
Europe is expected to be the fastest growing region during the forecast period. The region shares homogeneity with North America and benefits from such facilities. In particular, Western Europe is providing the necessary thrust.
The global tag management software market is fetching a significant share in the market due to the innovative strategies which include product launch, merger, acquisition, and other methods involving market titans. These strategies not only ensure individual growth but also make the market competitive enough and ideal for new participants.
The key players in the tag management software market are Google LLC (US), IBM Corporation (US), Adobe Systems Inc. (US), ), Sizmek, Piwik Pro (US), Ensighten (US), Oracle Corporation (US), Adform (Denmark), AT Internet (France), Datalicious Pty Ltd (Australia), Commanders Act (France), Datalicious (Australia), Matoma (US), Mezzobit (US), Qubit (UK), Relay 42 (Netherlands), Tealium (US), Segment (US), Signal (US (US), Innocraft (New Zealand), Yottaa (US), Hub’Scan (US), and Rakuten Inc. (Japan).
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