SYDNEY, March 02, 2023 (GLOBE NEWSWIRE) -- Data Bridge Market research has published a report on the "Customer Data Platform Market" which covers several regions including the USA, Europe, China, Japan, India, South East Asia, and more. The report provides a comprehensive analysis of the market's opportunities and risks and helps decision-makers make strategic and tactical decisions with confidence. This report appreciably aids marketing strategy as it provides key insights and information to the business. It makes available a deeper understanding of customers and competitors. This industry report helps to know who is buying a product or service, who is not buying a product or service, what motivates them, or whether they are loyal to a certain brand and all these ultimately leads to increased sales over time. Similarly, it provides information about the wider market environment that helps identify new opportunities for the business.
Data Bridge Market Research analyses that the customer data platform market was valued at USD 4.67 billion in 2022 and is expected to reach the value of USD 47.68 billion by 2030, at a CAGR of 33.70% during the forecast period. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
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(CDP) is a packaged software that generates a persistent, unified customer database, available to other systems. This customer data is created from numerous sources, to generate a particular customer profile. Customer data platform (CDP) provides some functionality of customer behavior and customer engagement.
The customer data platform market is developing significantly, generally due to growing expenditure on business strategies to attract more customers. To adopt such strategies, the enterprises invest in advertising and marketing activities to promote their solutions, products and services to the customers and collect necessary information from the targeted market. The “retail segment” is expected to be the -growing industry segment due to the rising need for engaging customers, enhancing shopper experience and increasing customer loyalty.
Top Leading Key Players of the Customer Data Platform Market:
- Orcale (U.S.)
- Salesforce, Inc. (U.S.)
- SAP (Germany)
- Microsoft (U.S.)
- SAS Institute Inc. (U.S.)
- Adobe (U.S.)
- NICE (Israel)
- Dun & Bradstreet (U.S.)
- Teradata (U.S.)
- Amazon Web Services, Inc. (U.S.)
- BlueConic (U.S.)
- Ascent360 (U.S.)
- Acquia, Inc.(U.S.)
- Optimizely, Inc (U.S.)
- Cloudera Inc. (U.S.)
- TIBCO Software Inc. (U.S.)
- ALTERYX, INC. (U.S.)
- RapidMiner (U.S.)
- Databricks (U.S.)
Recent Development
- In 2022 – Oracle renewed a strategic contract with AT&T to aid the company’s applications and database running in Oracle Cloud gain new capabilities and capacity. AT&T’s will be expanded Oracle Fusion Cloud Enterprise Resource Planning (ERP), Oracle Cloud Infrastructure, Oracle Fusion Cloud Customer Experience (CX) and other Oracle Cloud services under the new five-year agreement.
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The investment made in the study would provide you access to information such as:
- Customer Data Platform Market [Global – Broken-down into regions]
- Regional level split [North America, Europe, Asia Pacific, South America, Middle East & Africa]
- Country wise Market Size Split [of important countries with major market share]
- Market Share and Revenue/Sales by leading players
- Market Trends – Emerging Technologies/products/start-ups, PESTEL Analysis, SWOT Analysis, Porter’s Five Forces, etc.
- Market Size by application/industry verticals
- Market Projections/Forecast
Customer Data Platform Market Drivers
- Increasing awareness regarding features and benefits of customer data platform
The prominence of a customer data platform has increased among industry participants during the forecast period due to the rising awareness regarding features and benefits of such platforms amongst marketers. A customer database was witnessed to be the most important factor among market players for modelling campaigns, mainly depending on target customers. This resulted in the steady transformation of a data platform, from access type to campaign and analytics-based CDPs. Autonomous data collection from first-party, second-party, and third-party sources and the growth of real-time customer profiles have paved the way for the augmented adoption of a customer data platform.
- Growing demand for telemedicine
The demand for the telemedicine is growing among consumers globally, due to its numerous advantages, such as consumers from any area gaining access to the required doctor. It is a proficient method because both money and time are being saved. The change in the normal scheduled visits generating huge data due to which increasing the need for customer data platforms and drive the market growth.
Opportunities
- Increasing multiple developments in customer data platform Market
Numerous developments are taking place in the customer data platform industry to meet the customers’ needs and requirements for a comprehensive data platform. For instance, Tealium, the customer data platform (CDP) company has declared the launch of its Tealium for Pharma solution In July 2022. This platform is completely automated an improved customer experience for Pharma audiences although accounting for the industry’s constantly changing security and privacy regulations.
- Growing funding and investments by major organizations
Growing investments and funding by major organizations in such platforms are expected to create immense opportunities for the market growth. According to the report of CDP institute, the CDP vendors upraised funds price more than USD 1.5 billion in 2018. Such investments are anticipated to inspire vendors to integrate advanced technologies such as artificial intelligence and machine learning with customer data platform for providing accurate results. A study which has conducted by the CDP Institute showed that around 4,000 enterprises organized customer data platforms in 2018. All these factors are expected to create immense opportunities for the market growth.
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Customer Data Platform Market Segmentations:
Component
- Platform
- Services
Deployment Mode
- On-Premises
- Cloud
Organization Size
- SMEs
- Large Enterprises
Application
- Personalized Recommendations
- Marketing Data Segmentation
- Customer Retention and Engagement
- Security Management
- Others
Industry
- BFSI
- Retail and E-commerce
- Media and Entertainment
- Travel and Hospitality
- Telecom and IT
- Healthcare
- Others
Capability
- Open Access
- Real-Time Analytics
- Audience Management
Customer Data Platform Market Country Level Analysis
The countries covered in the customer data platform market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
The Customer Data Platform Market report provides insights on the following pointers:
- Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments of the leading players in the market.
- Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies.
- Market Penetration: Comprehensive information on the product portfolios of the top players in the Customer Data Platform market.
Table of Content
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