Multi-Touch Attribution Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 2.14 Billion |
| Market Size (2029) | USD 4.05 Billion |
| CAGR (2024 - 2029) | 13.64 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Multi-Touch Attribution Market Analysis
The Multi-Touch Attribution Market size is estimated at USD 2.14 billion in 2024, and is expected to reach USD 4.05 billion by 2029, growing at a CAGR of 13.64% during the forecast period (2024-2029).
Businesses are rapidly upgrading themselves and embracing technological disruptions globally, increasing the marketing managers to strategically spend on marketing activities and adopt the latest digital marketing trends. Hence, adopting the multi-touch attribution model over the single-touch attribution model is expected to increase.
- Due to the increased adoption of social media and other digital platforms, marketing managers are investing significantly to support and boost their sales. According to a published article by Advertising Age, a financial services firm boosted marketing spending by 55% in the first nine months of 2022, on top of a 78% increase in 2021.
- In May 2022, Veritonic, an audio research and analytics platform, announced the debut of its audio attribution solution. It will assist businesses in tracking and measuring audio ad performance across any app, hosting platform, or listening device. It would allow marketers to better understand the effect of their audio creative and gain actionable insights that would increase the ROI on their advertising spend.
- The massive growth of the e-commerce website is a major factor driving marketers' adoption of multi-touch or multi-channel attribution strategy. Nowadays, the primary issue the e-commerce website faces is when a user abandons the product in the shopping cart. According to Contact Pigeon, about 70% of e-commerce shoppers abandon their carts. Marketing automation helps in sending out automated mail to the user, notifying them about the discontinued product.
- The advent of artificial intelligence (AI) and machine learning (ML) further propelled the growth of predictive personalization, expected to be the most prolific advantage of utilizing marketing attribution over the forecast period. AI allows managers to understand their customers more profoundly, which involves analyzing and predicting the channels. It acts as a major driver for customer conversion and retention.
- Due to the COVID-19 pandemic, retailers and leading luxury brands globally were facing short-term challenges across sustained revenues, health and safety, supply chain management, labor shortages, and pricing, to name a few. With governments worldwide enforcing quarantines to curb transmission of COVID-19, people staying back at home led to increased online shopping and bulk buying of goods. It resulted in massive supply chain stress. Amidst this outbreak, multi-touch attribution solutions also assisted retailers in attaining positive outcomes.
Multi-Touch Attribution Market Trends
Retail & E-commerce Industry Expected to Show Maximum Growth
- The growing digital commerce market and tighter operational budgets are enabling e-commerce players to make smart choices regarding the technologies and solutions to invest in. It would help them maximize their ROI. Retailers must adopt strategic solutions to maximize customer conversion to understand the customers and their needs for convenient and consistent shopping experiences.
- Additionally, a significant portion of the retailers lose over one-third of their investment in trade promotions, primarily due to decision-makers' inability to measure ROI, trade promotion ineffectiveness, and profitably optimize spend by leveraging data. It led to many retailers in the market currently adopting a multi-touch attribution model over a single-touch attribution model. It helps them analyze which touchpoint or marketing channel directly drives customer conversion.
- In March 2023, Lily AI announced the debut of a self-service model of its product attributes platform. This self-service solution gives retailers and brands the flexibility to directly apply increased product attribution throughout their product catalog for use by both merchandising and marketing operations.
North America Expected to Dominate the Market
- North American market is expected to continue to dominate the multi-touch attribution market, as most of the major global vendors are based in the region. The increasing marketing services investment and an enormous social media presence make the region a lucrative hub for the market studied.
- According to the Census Bureau of the Department of Commerce, US retail e-commerce total sales for the fourth quarter of 2022 were estimated at USD 1,785.8 billion. The fourth quarter of 2022 e-commerce estimate increased 6.5% from the fourth quarter of 2021, while total retail sales increased 5.7% in the same period.
- In November 2022, NielsenIQ announced the availability of Omnisales data to its platform users. The new reporting functionality gives emerging and growing (small and mid-sized) companies the information they need to overcome the difficulties of omnichannel habits and purchases.
Multi-Touch Attribution Industry Overview
The competitive landscape of the multi-touch attribution market could be more cohesive, owing to several market players worldwide. The market players are strategically forming partnerships and collaborations to drive market expansion. Also, the companies are focusing on innovations and product development to enhance their market presence and global foothold.
In June 2022, Mediaocean, a platform for omnichannel advertising, announced that the company acquired Drishyam AI. It is a software company that automates the process of identifying the content of ads, interpreting their meaning, and optimizing them at scale.
In August 2022, Claritas, a data-driven company, unveiled Version 3.0 of its attribution solution, which supports algorithmic multi-touch attribution. It monitors customer interaction and provides unmatched accuracy for evaluating multichannel marketing initiatives.
Multi-Touch Attribution Market Leaders
Adobe, Inc.
Neustar, Inc.
Engagio, Inc.
Conversion Logic, Inc.
LeanData Inc.
*Disclaimer: Major Players sorted in no particular order
Multi-Touch Attribution Market News
- May 2022: Clinch and Neustar collaborated to give marketers a more comprehensive picture of attribution throughout their full campaign footprint. Neustar's Marketing Attribution solution can now be engaged within the Clinch UI, providing advertisers with extensive real-time insights into the channels, tactics, creatives, and other aspects of campaign performance.
- March 2022: Quotient launched its impression-based, multi-touch media measurement methodology. Through Quotient Analytics, the company made its media measurement platform available to customers via on and off-site display, digital out-of-home, and sponsored search media channels.
Multi-Touch AttributionMarket Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions & Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Focus of Marketers on Maximizing the ROI
4.2.2 Growing Number of Marketing Channels and Need for Optimization of Marketing Expenditure
4.2.3 Adoption of Technology and Solutions such as AI, Big Data, and Cloud Computing in Marketing
4.3 Market Restraints
4.3.1 Skepticism About Shifting from Existing Marketing Practices, Training and Change Management
4.4 Industry Attractiveness - Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
4.5 Assessment of Impact of Covid-19 on the Market
5. MARKET SEGMENTATION
5.1 End-user Industry
5.1.1 Retail & E-commerce
5.1.2 BFSI
5.1.3 IT & Telecom
5.1.4 Consumer Electronics
5.1.5 Travel & Tourism
5.1.6 Other End-user Industries (Healthcare & Life Sciences, Media & Entertainment)
5.2 Geography
5.2.1 North America
5.2.2 Europe
5.2.3 Asia Pacific
5.2.4 Latin America
5.2.5 Middle East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles*
6.1.1 Adobe, Inc.
6.1.2 Neustar, Inc.
6.1.3 Engagio Inc.
6.1.4 Conversion Logic, Inc.
6.1.5 LeanData Inc.
6.1.6 Merkle Inc.
6.1.7 The Nielsen Company
6.1.8 AppsFlyer
6.1.9 Equifax, Inc.
6.1.10 Manthan
6.1.11 Ipsos Group SA
6.1.12 LeadsRx, Inc.
7. INVESTMENT ANALYSIS
8. MARKET OPPORTUNITIES AND FUTURE TRENDS
Multi-Touch Attribution Industry Segmentation
Multi-touch attribution is a methodology for measuring marketing. All touchpoints on the consumer's journey are measured and assigned certain amounts of credit to each channel so that advertisers can understand what each one has contributed to their conversion.
The multi-touch attribution market is segmented by end-user industry (retail and e-commerce, BFSI, it and telecom, consumer electronics, travel & tourism, and other end-user industries (healthcare & life sciences and media & entertainment)) and geography (North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa). The market sizes and forecasts are provided in value (USD) for all the above segments.
| End-user Industry | |
| Retail & E-commerce | |
| BFSI | |
| IT & Telecom | |
| Consumer Electronics | |
| Travel & Tourism | |
| Other End-user Industries (Healthcare & Life Sciences, Media & Entertainment) |
| Geography | |
| North America | |
| Europe | |
| Asia Pacific | |
| Latin America | |
| Middle East and Africa |
Multi-Touch AttributionMarket Research FAQs
How big is the Multi-Touch Attribution Market?
The Multi-Touch Attribution Market size is expected to reach USD 2.14 billion in 2024 and grow at a CAGR of 13.64% to reach USD 4.05 billion by 2029.
What is the current Multi-Touch Attribution Market size?
In 2024, the Multi-Touch Attribution Market size is expected to reach USD 2.14 billion.
Who are the key players in Multi-Touch Attribution Market?
Adobe, Inc., Neustar, Inc., Engagio, Inc., Conversion Logic, Inc. and LeanData Inc. are the major companies operating in the Multi-Touch Attribution Market.
Which is the fastest growing region in Multi-Touch Attribution Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Multi-Touch Attribution Market?
In 2024, the North America accounts for the largest market share in Multi-Touch Attribution Market.
What years does this Multi-Touch Attribution Market cover, and what was the market size in 2023?
In 2023, the Multi-Touch Attribution Market size was estimated at USD 1.88 billion. The report covers the Multi-Touch Attribution Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Multi-Touch Attribution Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Multi-Touch AttributionIndustry Report
Statistics for the 2024 Multi-Touch Attribution market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Multi-Touch Attribution analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
