Customer Data Platform Market: was valued at US$ 4.66 Bn. in 2022 and is expected to reach US$ 34.68 Bn. by 2029, at a CAGR of 33.2% during a forecast period.
Customer Data Platform Market Overview:
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Customer Data Platform Market: A software programme known as the Consumer Data Platform (CDP) enables users to access other applications and builds a single, permanent database of customers. This consumer information is gathered from multiple sources to produce a customised customer database.
Segmentation:
by Type
Access
Analytics
Campaign
Marketing Data Segmentation
Personalized Recommendation
Predictive Analytics
Campaign Management
Customer Engagement and Retention
Security Management
In terms of market share, the campaign segment accounted for % in 2022. The need for campaign customer data platforms has been fueled in part by the ability to gather customer data points from various sources, segment customers based on a wide range of criteria, and provide real-time insights to conduct targeted marketing.
The analytics type category is anticipated to grow during the course of the projection period. There is a forecasted growth rate of % CAGR for the forecast period. The demand for analytics platforms is being driven by advantages like the automation of consumer profiles based on the customer life cycle journey. Furthermore, this platform may automatically create profiles for targeted marketing using machine learning and personalised modelling based on the traits that separate users.
by Application
Solutions
Service
Cloud
On-premises
by Component
Solutions
Service
by Delivery Mode
Cloud
On-premises
by Vertical
BFSI
Retail and eCommerce
Media and Entertainment
IT and Telecommunication
Energy and Utilities
Automobile
Healthcare and Life Sciences
Others
In 2022, the Retail and eCommerce segment accounted for % of the total market share, according to vertical analysis. The retail segment is growing as a result of the need to better engage customers, foster customer loyalty, and enhance the shopping experience. The time-based analysis of consumer participation and the collection of online and offline data from several sources are two advantages of CDP that are propelling a significant rise in CDP demand among business-to-business enterprises. A survey from the CDP Institute stated that by 2021, 35 percent of B2B companies intended to adopt CDP.
For the duration of the projection, the BFSI industries should see an increase in the use of CDP. The expanding use of technology within the BFSI can be attributed to the increased reliance on it for marketing goods and services targeted at particular consumer groups.
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Key Players:
The Market competitive landscape Customer Data Platform gives information by competitor. Business overview, financials, revenue produced, Market potential, investment in RD, new Market efforts, worldwide presence, production sites and facilities, production capacity, company strengths and weaknesses, product launch, product width and breadth, application domination are all mentioned. The data points presented above are only linked to the firms’ concentration on the Customer Data Platform sector. These are the main players-
1. Salesforce
2. SAS Institute
3. Oracle
4. SAP
5. Nice
6. Adobe
7. Tealium
8. BlueConic
9. Ascent360
10. Lytics
11. mParticle
12. Amperity
13. Reltio
14. Ensighten
15. Fospha
16. SessionM
17. RedPoint Global
18. Segment
19. Zaius
20. AgilOne
21. ActionIQ
22. Evergage
23. NGDATA
24. IgnitionOne
25. Signal
26. Usermind
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Regional Analysis:
The country portion of the Customer Data Platform Market study additionally includes individual Market affecting elements and changes in legislation in the Market that affect present and future Market trends. Consumption volumes, production sites and volumes, import export analysis, price trend analysis, raw material costs, and downstream and upstream value chain analysis are some of the primary indicators utilised to anticipate the Market situation for particular nations. While providing forecast analysis of the nation data, the existence and availability of global brands, as well as the obstacles they face due to significant or scarce competition from local and domestic brands, as well as the impact of domestic tariffs and trade routes, are also taken into account.
COVID-19 Impact Analysis on Customer Data Platform Market:
A detailed study of Covid-19 impacts the Customer Data Platform Market is provided in the report.
The World Health Organization has declared Covid-19 a global health emergency due to its impact on thousands of people worldwide. The Coronavirus disease, which already affects these groups, had affected Customer Data Platform Market segments.
Key Questions answered in the Customer Data Platform Market Report are:
- At what growth rate is the Customer Data Platform Market evolving?
- Who are the major Market giants operating in the global Customer Data Platform Market?
- Which application segment of the Customer Data Platform Market is observing the fastest growth?
- What is the primary driving factor of the global Customer Data Platform Market?