Tag Management System Market extrapolated to obtain $1,286.1 million by 2023

(IT-NEWSWIRE.COM, April 24, 2020 ) According to a new market research report "Tag Management System Market by Component (Tools and Services), Application (User Experience Management, Risk & Compliance Management, Content Management, Campaign Management), Deployment Type, Organization Size, Vertical - Global Forecast to 2023", published by MarketsandMarkets™, the global tag management system market size expected to grow from USD 661.9 million in 2018 to USD 1,286.1 million by 2023, at a Compound Annual Growth Rate (CAGR) of 14.2% during the forecast period.

The key factors driving the tag management system market include a need for established data governance policies, focus on delivering better customer experience, and ability to create cohesive ecosystem.

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The user experience management application segment is estimated to account for the largest market size in the tag management system market in 2018.

The user experience management application segment is expected to dominate the overall tag management system market in terms of share, as the tag management system applications are predominantly finding use in all major industry verticals to reduce risks and improve the efficiency and transparency in payment systems across verticals. Additionally, the tag management presents an effective alternative to the traditional hand-coding replacing all tag scripts with a single tag manager container which transfers data to third-party tools integrated into the website simultaneously, without affecting the performance of the website, leading to high quality user experience.

The service segment is expected to grow at a higher CAGR in the global tag management system market during the forecast period.

The tag management system market has been segmented on the basis of components: tools and services. Services, such as professional services and managed services, help enterprises in building successful client relationships by continuously supporting them through the business tenure. Further, these services benefit enterprises by maximizing the resource usage, improving project execution, and streamlining the business operations. As the adoption of tag management system tools increases, the need for services, such as support and maintenance, is also expected to grow.

North America is expected to hold the largest market size in the global tag management system market during the forecast period.

North America is estimated to hold the largest size in the global tag management system market in 2018. The region is considered the most advanced in terms of technology adoption and infrastructure. The presence of the key industry players in the tag management system market in this region is the major driving factor for the tag management system market. All the major companies operations across major verticals in this region are adopting the tag management system to develop business applications, owing to the realization of tag management system’s potential for safer transactions and low infrastructure cost.

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Major vendors in global tag management system market include Google (US), IBM (US), Adobe (US), Tealium (US), Ensighten (US), Adform (Denmark), AT Internet (France), Commanders Act (France), Datalicious (Australia), Mezzobit (US), Qubit (UK), Relay 42 (Netherlands), Segment (US), Signal (US), Sizmek (US), Piwik Pro (US), and Innocraft (New Zealand).

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Tag Management System Market extrapolated to obtain $1,286.1 million by 2023