The global tag management system market size was valued at $635.77 million in 2019, and is projected to reach $1722.32 million by 2027, growing at a CAGR of 13.0% from 2020 to 2027.
Growth in awareness of numerous benefits of tag management systems among the end-users and the rise in utilization of cloud-based tag management systems in small and medium-scale organizations drive the growth of the global tag management system market.
On the other hand, a lack of skilled technical resources impedes growth to some extent. However, growth in the use of live mobile app marketing technology and worldwide acceleration of digital transformation among enterprises due to the outbreak of covid-19 are expected to create multiple opportunities in the industry.
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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 on websites notably contributing 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 for various services such as professional services, and 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 the tag management systems.
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However, the media and entertainment segment would also grow at the fastest CAGR of 16.5% from 2020 to 2027. This is due to the covid-19 situation the use of online video streaming, online gaming is increasing promoters’ uses of tag management systems to promote their brand in advertisements.
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 the high adoption of online services and media and the 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.
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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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