The latest report by IMARC Group, titled "Tag Management System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," finds that the global tag management system market size reached US$ 796.3 Million in 2021. Tag management system, or TMS, refers to user-friendly and feature-packed software that helps implement, maintain and manage tracking tags used in digital marketing. It assists organizations in strategically managing their data foundation and streamlining tag deployments without the need for ongoing information technology (IT) assistance. It has an easy-to-use web interface that allows non-technical marketers and analysts to quickly add, remove or edit any tags. It also enhances website performance, accelerates campaign time to market, reduces costs, improves focus on business, and ensures data protection. As a result, TMS has gained immense popularity among enterprises for data collection and management and enhancing customer experiences.
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.
Global Tag Management System Market Trends:
TMS offers excellent flexibility and control to marketers for implementing and optimizing digital experiences while reducing the dependence on IT support. This, along with the increasing adoption of digital marketing solutions due to the surging amount of time users spend on the internet, represents the primary factor driving the market growth. Additionally, the growing product usage to track page views, events, remarketing lists, cross-domain tracking, and in-app analytics has augmented the TMS demand. Besides this, the rising need to deliver enhanced customer experiences and acquire new and retain existing customers has accelerated the adoption of TMS for a better understanding of users’ requirements. Furthermore, several key players are making heavy investments to launch innovative and cost-effective TMS solutions to expand their product portfolio and gain a competitive edge. Other factors, including the expanding IT and telecom sector, increasing penetration of smartphones, technological advancements, and rising cloud deployment, are also providing a positive thrust to the market growth. Looking forward, IMARC Group expects the market value to reach US$ 1,698.70 Million by 2027, growing at a CAGR of 13.40% during the forecast period (2022-2027).
- Based on the component, the market has been classified as tools and services.
- On the basis of the deployment model, the market has been bifurcated into on-premises and cloud-based.
- The market has been segregated based on the organizational size into small and medium-sized, and large enterprises.
- Based on the industry vertical, the market has been divided into healthcare, retail and e-commerce, BFSI, IT and telecommunication, media and entertainment, manufacturing, and others.
- On a geographical front, the market has been segmented into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has also been examined, with some of the key players being Adform Group, Adobe Inc., Blue Triangle Technologies Inc., Commanders Act, Ensighten Inc., Google LLC (Alphabet Inc.), International Business Machines Corporation, Observepoint Inc., Oracle Corporation, Relay42 Netherlands B.V., Segment.io Inc. (Twilio), and Tealium Inc.
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