According to a recent report by Market Research Future (MRFR), the global tag management software market is anticipated to rise with a moderate 12.9% CAGR during the review period (2018-2023) and reach a substantial market valuation of USD 1,279.4 million by 2023.
With businesses ready to take their digital marketing system to the subsequent level, the demand for data governance policies is observing a continuous rise. This factor is projected to solidify the growth of tag management software market. Its proliferation into other segments such as connected devices and Internet of Things (IoT) can ensure a better prospect in the review period. At the same time, customers are increasing the demand for personalized tags, which are generating more scope for the expansion and tag management software market can surely benefit from this.
Despite its productive usage in the digital media marketing system, the tag management software market is expected to witness a hindrance from the other digital and web-based marketing technologies over the review period. Lack of ownership of tags can also pose as a challenge and technical hands to proficiently handle the operative tasks can dampen the tag management software market growth over the assessment period.
The global tag management software industry is segmented on the basis of solution, application, deployment, organization size, and vertical.
Based on the solution, the tag management software market can be segmented into data governance, data quality, customer analytics, artificial intelligence, web analytics, and others. Data governance segment is accounted for the leading market share over the review period.
On the basis of the application, the tag management software market can be segmented into user experience management, risk and compliance management, campaign management, content management, and others. Campaign management segment is accounted for the leading market share over the forecast period.
Based on the deployment, the tag management software market can be segmented into the cloud and on-premise. The cloud segment is accounted for the dominant market share over the review period.
On the basis of organization size, the tag management software market can be segmented into small & medium enterprises (SMEs), and large enterprises. Large enterprises segment is accounted for the maximum market share over the review period.
Based on the vertical, the tag management software market includes IT & telecommunication, banking, financial services, and insurance (BFSI), healthcare, manufacturing, retail, media & entertainment, and others. Production is accounted for the dominant market share over the assessment period.
Based on the region, the COVID-19 analysis of tag management software segment is segmented into North America, Asia Pacific, Europe, and the rest of the world including middle east, Latin America, and Africa.
North America is leading the global market for tag management software with a maximum share over the forecast period. Infrastructural preeminence and inclination to adapt to the latest market models to stay ahead of the rest has given the regional market a boost. Furthermore, significant companies are mostly from North America which gives it an edge over the rest.
Europe is the fastest-growing region over the review period. The regional market shares the same features as that of North America, which is giving the market adequate boost and opportunity to explore new regions. In addition, countries from Western Europe are forming sufficient opportunities for the tag management software market to expand over the review period.
Major market players identified by MRFR in the tag management software market are Google LLC (U.S.), IBM Corporation (U.S.), Adobe Systems Inc. (U.S.), Tealium (U.S.), Ensighten (U.S.), Oracle Corporation (U.S.), Adform (Denmark), AT Internet (France), Commanders Act (France), Datalicious (Australia), Matomo (U.S.), Mezzobit (U.S.), Qubit (U.K.), Relay 42 (Netherlands), Segment (U.S.), Signal (U.S.), Sizmek (U.S.), Piwik Pro (U.S.), Innocraft (New Zealand), Yottaa (U.S.), Datalicious Pty Ltd (Australia), Hub’Scan (U.S.), and Rakuten Inc. (Japan).