According to the report published by Allied Market Research, Tag Management System Market Reach USD 1.72 Billion by 2027 at 13.0% CAGR Globally. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers valuable able guidance to leading players, investors, shareholders, and startups in devising strategies for sustainable growth and gaining a competitive edge in the market.
Growth in awareness about numerous benefits of tag management system among the end-users and rise in utilization of cloud-based tag management system in the small and medium scale organization drive the growth of the global tag management system market. On the other hand, lack of skilled technical resources impede the growth to some extent. However, growth in use of live mobile app marketing technology and worldwide acceleration of digital transformation among enterprises due to outbreak of covid-19 are expected to create multiple opportunities in the industry.
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The tag management system market size was valued at USD 635.77 million in 2019, and is projected to reach USD 1722.32 million by 2027, growing at a CAGR of 13.0% from 2020 to 2027.
The tag management system is segmented on the basis of component, deployment mode, organizational size, industry vertical, and region. By component, it is bifurcated into tools and service. By application type, the market is divided into user experience management, risk & compliance management, content management, campaign management. By deployment mode, it is categorized into on-premise and cloud. By organizational size it is divided into, small and medium scale enterprise and large scale enterprise. By industry vertical, it is classified into healthcare, retail & e-commerce, BFSI, IT & telecommunication, media & entertainment, travel & tourism, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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Based on component type, the tool segment contributed to more than three-fifths of the global tag management system market share in 2019, and is anticipated to lead the trail by 2027. As it allows them to focus on their major activities such as using diversified types of tags in websites notably contributes toward the growth of the global market. On the other hand, the services segment would register the fastest CAGR of 14.3% throughout the forecast period. This is due to increasing demand of various services such as professional services, managed services.
Based on industry vertical, the IT and telecom segment accounted for more than one-fifth of the global tag management system market revenue in 2019, and is expected to rule the roost by 2027. The use of online and digital marketing is highly increasing thereby augmenting the adoption of tag management system. However, the media and entertainment segment would also grow at the fastest CAGR of 16.5% from 2020 to 2027. This is due to covid-19 situation the use of online video streaming, online gaming is increases promoters uses tag management system to promote their brand in advertisement.
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Based on region, North America garnered the major share in 2019, holding around two-fifths of the global tag management system market. This is owing to high adoption of online services and media and growing use of customer data analytics & online campaigning in the region. Conversely, the Asia-Pacific region would also manifest the fastest CAGR of 16.0% from 2020 to 2027. This is owing to strong economic growth along with the ongoing development in the IT and Telecom sector
This report gives an in-depth profile of some key tag management system industry players in the tag management system market, which include Google LLC, IBM Corporation, Adobe Inc. Tealium, Ensighten, Adform, AT Internet, Commanders Act, Datalicious, and Matomo. This study includes tag management system market trends, tag management system market analysis, and future estimations to determine the imminent investment pockets.
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Impact of Covid-19 on Tag Management System Market:
● The increase in home stay has augmented the use of web based platform to perform various tasks such as online banking and online shopping widely. This has significantly augmented the adoption of tag management system.
● The closure of retail stores, malls and others, has boosted the adoption of tag management system in the retail & e-commerce sector.
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