New York, US, April 06, 2023 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), "Tag Management Software Market: By Solution, By Application, By Deployment, by Vertical and By End-User Forecast till 2030”, the market is predicted to thrive substantially during the assessment era from 2020 to 2030 at a healthy CAGR of approximately 10.20% to attain a valuation of around USD 1.86 Billion by the end of 2030.
Key Players
Eminent industry players profiled in the tag management software market report include
- 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.)
- Rakuten Inc. (Japan)
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Tag Management Software Market Report Scope:
| Report Metrics | Details |
| Market Size by 2030 | USD 1.86 Billion |
| CAGR during 2022-2030 | 10.20% |
| Base Year | 2021 |
| Forecast | 2022-2030 |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Key Market Drivers | This can solidify the growth of tag management software market. |
Drivers
Increasing Adoption by Retailers to Boost Market Growth
The increasing adoption of tag management software by retailers will boost market growth over the forecast period. Retailers may keep precise and thorough tagging for the diversity of essentials on their websites with the use of tag management solutions. These tools assist merchants in better comprehending customer needs and meeting their expectations for a customized Omnichannel experience.
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Opportunities
Increasing Penetration of Smartphones to offer Robust Opportunities
The need for mobility solutions is anticipated to rise in the retail industry as a result of the increased global consumption of the mobile data due to the increasing smartphone penetration rate. In the retail & e-commerce industries, such data is widely used for digital marketing and for understanding customer behavior. This is expected to give the market a tremendous chance for expansion.
Restraints and Challenges
Lack of Technical Expertise to act as Market Restraint
The lack of technical expertise and lack of ownership of tags may act as market restraints over the forecast period.
Market Segmentation
The global tag management software market is bifurcated based on vertical, organization, deployment, application, and solution.
By solution, data governance will lead the market over the forecast period.
By application, campaign management will domineer the market in the forecast period.
By deployment, cloud will spearhead the market in the forecast period.
By organization size, large enterprise will have the lions share in the market in the forecast period.
By vertical, manufacturing will have the largest share in the market over the forecast period.
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COVID-19 Analysis
The COVID-19 outbreak is helping the market for tag management systems grow since these systems' technologies assist businesses in meeting the high capacity demands of online purchasing and consumer behavior. Also, it enables users of the website to quickly and easily visit the brand website, which in turn enables the marketing team to monitor and gather information about customer behavior and interests, which in turn fuels market expansion. Because of this, major participants in tag management systems are investing a lot in it for a variety of use cases. Also, the COVID-19 pandemic presents a growth opportunity for the tag management system industry as businesses all over the world employ tag management systems to support their business goals during the WFH initiatives. Due to the system's advantages, researchers from both industry and academia are becoming more and more interested in tag management system as a way to brand products and create new revenue streams for the service providers. Organizations who had already implemented tag management systems during the COVID-19 epidemic were able to immediately adapt to new partners & business requirements that emerged as a result of work-from-home regulations. Organizations may handle the ongoing epidemic and continue to run profitable businesses with the use of tag management systems.
Regional Analysis
North America to Command Tag Management Software Market
With the largest revenue share of the global tag management software industry, North America is out in front of the pitch. The regional market has an edge due to its stronger infrastructure and propensity to adopt the newest market models in order to stay at the forefront of the competition. Also, the majority of significant corporations are from North America, giving it an advantage over the competition. The regional market has many of the same characteristics as the market in North America, which is giving it a push and allowing it to explore new areas. Due to the growing usage of these systems in the area, North America is anticipated to hold the greatest market share and dominate the market throughout the forecast period. The early acceptance of cutting-edge technology, cost-effectiveness, and simplicity of deployment are credited with the region's high concentration of the tag management system companies. Vendors of tag management systems in the US are anticipated to significantly benefit a number of firms in the area who are depending largely on digital marketing to grow their company. Technically speaking, the region is more advanced than the others. Using cutting-edge tools and incorporating creative approaches helps individuals stand out from the crowd. It has significantly contributed to the expansion of the local tag management software market. Technology is supported by the market as well since it is profitable. Also, a lot of big businesses are investing in the sector, which is having a favorable impact on the area and the market.
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Industry Updates
November 2022- Tag Manager, by CloudSaver, is the company's first Software-as-a-Service offering. In a cloud context, Tag Manager automates and streamlines the course of tagging resources. The ability for users to change and act on tags, even after deployment, makes Tag Manager groundbreaking. Users of Tag Manager can access real-time synchronization for the most recent information. Detecting tag variations, allocating previously "untaggable" resources, and batch adjustments are among the additional features.
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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
