What is the global market size of Customer Data Platform Market?

Global Customer Data Platform Market size was valued at USD 3.49 billion in 2021 and is poised to grow from USD 4.71 billion in 2022 to USD 49.8 billion by 2030, growing at a CAGR of 35% in the forecast period (2023-2030).

Who are the key vendors in the Global Customer Data Platform Market?

The Global customer data platform market is relatively fragmented, with a high level of competition. Some of the large players in the market are Oracle, SAP, Adobe., Salesforce.com, inc., Microsoft Corporation, SAS Institute Inc., Teradata., NICE, Dun & Bradstreet, Inc., Leadspace, Zylotech, BLUEVENN, CaliberMind, Celebrus Technologies Ltd, Tealium, AgilOne Inc., Blue Conic, Inc., Lytics, Inc., Ignition One. These industry leaders are extending their customer base across several areas, and many corporations are creating strategic and collaborative initiatives with other enterprises to enhance their market share and profitability. 'Adobe', 'Segment', 'Tealium', 'BlueConic', 'Salesforce', 'Optimizely', 'Redpoint Global', 'Exponea', 'Lytics', 'BlueVenn', 'AgilOne', 'SessionM', 'mParticle', 'Zaius', 'ActionIQ ', 'Amperity', 'Evergage', 'Acquia', 'Celebrus', 'BlueShift'

What is the key driver of Global Customer Data Platform Market?

Increasing corporate spending on marketing and advertising initiatives

What is the key market trend for Global Customer Data Platform Market?

The manner that companies and customers interact has changed as a result of modern technologies. There are now and will continue to be new rivals, consumers, products, and services. Consumer preferences, preferences, and habits are always evolving. The redefined Customer Experience (CX) will be mostly driven by technology; organizations must rethink their customer ecosystems to keep up with empowered customers and develop consumer technologies.

Which region accounted for the largest share in Global Customer Data Platform Market?

The global customer data platform market is divided into North America, Europe, Asia Pacific, and the Rest of the World based on the geographical study. Due to the rapid adoption of cutting-edge technology, as well as several additional factors such as the growing demand for CDPs in the North American market, an increase in internet and smartphone usage throughout the region, rising demand from the media and advertising sector, and other factors, North America is the leading region in the global Customer Data Platform Market.

Customer Data Platform Market Size, Share, Growth Analysis, By Offering(Platform (Cloud, On-premise), Services (Managed Services, Professional Services (Consulting Services), By Data Channel(Email, Social, SMS, Web), By Type(Data CDP, Analytics CDP, Campaign CDP, Delivery CDP), By Application(Personalized Recommendation, Predictive Analytics, Customer Retention & Engagement, Sales & Marketing Data Segmentation), By Vertical(BFSI, Retail & Ecommerce, Media & Entertainment, Travel & Hospitality), By Region - Industry Forecast 2024-2031

Report ID: SQMIG45D2052 | Region: Global | Published Date: September, 2024
Pages: 165 | Tables: 119 | Figures: 77

Customer Data Platform Market Insights

Customer Data Platform Market size was valued at USD 3.1 billion in 2022 and is poised to grow from USD 5.12 billion in 2023 to USD 74.87 billion by 2031, growing at a CAGR of 39.84% during the forecast period (2024-2031).

The global customer data platform market is witnessing significant growth. This is attributed to the growing adoption of customer data platforms. Numerous industries are aimed at unearthing the buying pattern of a customer. Besides this, several sectors crave for a single platform for information processing regarding their both physical and online clients and detection of the best marketing strategies for every category and reduction in duplication of a customer's information. Growth in the customer data platform market is increasing due to rising adoption of account-based marketing by companies. Consumers' increasing utilization of social media, blogs, e-commerce sites, and webs increases businesses' awareness about the behavior of customers. This strengthens their understanding about how consumers' preferences are evolving to meet competitive conditions. It is essential to get along with customers and deliver customized products that organizations are striving for. Collecting consumer profile data manually is a time-consuming and expensive operation that classify and segment it. This makes firms incur money on a data platform that offers unified consumer profiles and allows continuous customer involvement. Moreover, industry players have realized the worth of customer data platforms as marketers develop insight into what these platforms can accomplish and the benefits they bring.

US Customer Data Platform Market is poised to grow at a sustainable CAGR for the next forecast year.

Customer Data Platform Market Report Snapshots

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Various key players are involved in the adoption of different types of offerings. An advanced customer data platform helps players update their business skills. In addition, improvement and extension of a current product portfolio further strengthens a vendor's position in the market. Furthermore, the companies are investing in the integration of the customer 360 platform with CDP. For instance, Salesforce Inc. is more investment-focused on the company's efforts to merge & acquire local and regional players to enhance its portfolio of products. 'Adobe ', 'Oracle ', 'SAP ', 'Microsoft ', 'Salesforce ', 'IBM ', 'SAS Institute ', 'Teradata ', 'Informatica ', 'Experian ', 'Pega ', 'Tealium ', 'BlueConic ', 'Lytics ', 'Sitecore ', 'Redpoint Global ', 'Zeta Global ', 'Lotame ', 'V12 Data ', 'mParticle ', 'ActionIQ ', 'Amperity ', 'Acquia ', 'Celebrus ', 'BlueShift ', 'Leadspace ', 'Upland Software ', 'CaliberMind ', 'Insider ', 'Optimove ', 'Listrak ', 'Simon Data ', 'Ometria ', 'Salesmanago ', 'Zeotap'

Significant drivers behind the customer data platform market are the rapidly growing demand for a personalized customer experience. Companies in most industries are slowly and methodically realizing how customized marketing practices might help gain better engagement from their consumers and increase brand loyalty. CDPs enable businesses to gather and analyze information from various sources so that businesses can have an integrated profile of their customers, which enables personalized interactions and targeted advertising. Personalized experiences are accorded such importance, and that positively impacts the clients' happiness and inspires brand loyalty. As competition is turning intense, companies are increasingly using CDPs to get insight that helps in efficient customizations and results in overall client journeys.

Adoption of Artificial Intelligence and Machine Learning: The increase in adoption of AI and ML in organizations is considered one of the significant trends in the Customer Data Platform market. Organizations are applying such advanced technologies to enhance data analysis capabilities and extract more insightful information out of customer data. These technologies, AI and ML, can truly make it possible to automate data segmentation, predictive analytics, as well as even personalize marketing campaigns offering more relevant customer experiences. It not just improved operational efficiency but also competes for companies through faster, more accurate data-driven decisions. The boom in incorporating these technologies with CDPs will be soon.

With the biggest market share, North America leads the global customer data platform market. The US serves as a center for innovation and growth in this industry as a sizable number of important companies have their headquarters there. The solution providers in the region have been very active in acquiring businesses and supporting innovations to improve their services. Some of the sectors that are using CDP systems to enhance user experience and customer satisfaction levels are retail, banking, insurance, and financial services, and healthcare. North American firms are pulling market leads in the same way through such data-driven activities as they can understand the demands and desires of their customers better.

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Customer Data Platform Market Insights

Customer Data Platform Market Report Snapshots

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What is the global market size of Customer Data Platform Market?

Who are the key vendors in the Customer Data Platform Market?

What is the key driver of Customer Data Platform Market?

What is the key market trend for Customer Data Platform Market?

Which region accounted for the largest share in Customer Data Platform Market?

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