According to the latest report by IMARC Group “Tag Management System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027“, offers a comprehensive analysis of the industry, which comprises insights on the global tag management software market analysis. The global tag management system market size reached US$ 796.3 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 1,698.7 Million by 2027, exhibiting a growth rate (CAGR) of 13.4% during 2022-2027.
A tag management system is used to manage and track tags for digital marketing. It helps marketers and analysts in deploying and managing tags on-site without relying entirely on information technology (IT). It also enables faster page loading and less complicated changes with reduced possible site outages. Moreover, it facilitates changes to the existing advertising services to add and update tags via a single container tag for conversion tracking, site analytics, and remarketing. Tag management system allows digital marketers to launch vendor campaigns efficiently and enables web analytics professionals to change variables in the code instantly without having to wait through IT availability cycles. It aids in achieving high productivity at a low cost and assists in accelerating campaign time, improving website performance, and ensuring data governance and protection. At present, it finds extensive application in the healthcare, retail and e-commerce, banking, financial services and insurance (BFSI), IT and telecommunication, media and entertainment, and manufacturing industries across the globe.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Market Trends:
The rising adoption of cloud-based tag management system among enterprises to gain strategic and competitive advantage currently represents one of the key factors positively influencing the market. It helps website users to get hassle-free access to the brand website through which the marketing team efficiently manages and collects data on consumer behavior and interest. Besides this, tag management system ensures efficient monitoring of user activity on the website, which assists in maintaining a relationship between business owners and customers. In addition, the increasing use of web-based platforms to perform various online tasks is contributing to the market growth.
Additionally, the increasing reliance of users on online shopping platforms and the penetration of web-based applications to assist in shopping, education, and banking is catalyzing the demand for tag management system. The rising adoption of mobile devices and high internet connectivity are also presently creating a positive market outlook. Besides this, technological advancements among small and medium enterprises (SMEs) and the modernization of digital marketing techniques are driving the market. Apart from this, the integration of advanced technologies, such as artificial intelligence (AI) and machine learning (ML), due to the increasing need for regulation and compliance in data governance, is bolstering the growth of the market. Furthermore, increasing research and development (R&D) activities by leading market players for incorporating tag management system in the agile web development process is expected to positively influence the market in the coming years.
Breakup by Component:
- Tools
- Service
Breakup by Deployment Model:
- On-premises
- Cloud-based
Breakup by Organizational Size:
- Small and Medium-sized Enterprises
- Large Enterprises
Breakup by Industry Vertical:
- Healthcare
- Retail and e-commerce
- BFSI
- IT and Telecommunication
- Media and Entertainment
- Manufacturing
- Others
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Competitive Landscape with Key Player:
- Adform, Adobe Inc.
- Blue Triangle Technologies Inc.
- Commanders Act
- Ensighten Inc.
- Google LLC (Alphabet Inc.)
- International Business Machines Corporation
- Observepoint Inc.
- Oracle Corporation
- Relay42
- Segment.io Inc. (Twilio)
- Tealium Inc.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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