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Customer Data Platform Market worth $15.3 billion by 2026 - Report by MarketsandMarkets™

·5 min read
MarketsandMarkets Research Pvt. Ltd.
MarketsandMarkets Research Pvt. Ltd.

Chicago, Sept. 05, 2022 (GLOBE NEWSWIRE) -- Customer Data Platform Market size to grow from USD 3.5 billion in 2021 to USD 15.3 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 34.6% during the forecast period, according to a new report by MarketsandMarkets™. Various factors such as increasing spending on marketing and advertising activities by enterprises, changing landscape of customer intelligence to drive the market, and Proliferation of customer channels are expected to drive the adoption of customer data platform solutions and services.

Browse in-depth TOC on "Customer Data Platform Market
481- Tables
53- Figures
358- Pages

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Scope of the Report:

Report Metrics

Details

Market size available for years

2015–2026

Base year considered

2020

Largest Market

North America

CAGR

34.6% From 2021 to 2026

Customer Data Platform Market Size in 2021

USD 3.5 billion

Market Size in 2026

USD 15.3 billion

Segments covered

Component, Deployment Mode, Organization Size, Application, Vertical, and Region

Geographies covered

North America, Europe, APAC, MEA, and Latin America

Companies covered

Oracle Corporation (US), SAP SE (Germany), Adobe Inc. (US), Salesforce.com, Inc. (US), Microsoft Corporation (US), SAS Institute (US), Teradata (US), Nice Systems ltd. (Israel), Dun & Bradstreet (US), Leadspace (US), Zylotech (US), BlueVenn (US), CaliberMind (US), Celebrus (UK), Tealium (US), AgilOne (US), BlueConic (US), Lytics Inc. (US), IgnitionOne, Inc. (US), and Amperity, Inc. (US), Optimove (US), Totango (US), Insider (Singapore), Segment (US), Listrak (US), Simon Data (US), Ometria (UK), Treasure Data (US), Salesmango (US), ActionIQ (US)

CDP is a customer data personalization management system that creates a persistent, unified customer database accessible to other systems. It provides an environment that can ensure the most up-to-date, precise, and complete view of customers to help organizations make better decisions on how, when, and why to interact with customers. It consolidates and integrates data from multiple heterogeneous sources with a single, trusted repository that supplies accurate customer data to analytical and operational systems throughout the marketing and technology stack.

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The market based on components is divided into software and services. The customer data platform solutions comprise platform and software tools, such as Application Programming Interface (APIs), SDKs, and frameworks that enable users to integrate database models with analytical tools and visualization frameworks. The customer data platform software tools enable organizations to identify a relationship between customers, products, and operations. The platform segment is expected to show a higher growth rate during the forecast period.

By deployment mode, the customer data platform has been segmented into on-premises and cloud. Organizations primarily look for solutions that can help them reduce costs and increase profit margins. The customer data platform offered via the cloud are gaining good traction in the past few years and are expected to have a larger CAGR during the forecast period.

Among organization sizes, the large enterprises segment is expected to hold a larger market size, also the large enterprises segment is expected to grow at a faster rate during the forecast period as cloud-based solutions and services help them improve business performance and enhance productivity.

The Customer Data Platform Market by vertical has been categorized into banking, financial services, and insurance, Retail and eCommerce, media and entertainment, IT and telecom, healthcare, travel and hospitality, and others (automobile, government, and education). The travel and hospitality vertical is expected to witness the highest growth rate, while the BFSI vertical is expected to have the largest market size during the forecast period. The larger market size of the BFSI vertical can be attributed to the increasing regulatory scrutiny, improved customer satisfaction, and benefits, such as risk management and tailored solutions.

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The Customer Data Platform Market has been segmented into five major regions: North America, Europe, APAC, Latin America, and MEA. APAC is expected to grow at a good pace during the forecast period. Opportunities for smaller customer data platform vendors to introduce customer data platform solutions for numerous sectors have also increased. All these factors are responsible for the expeditious growth of the Customer Data Platform Market in the region. Companies operating in APAC continue to focus on improving customer services to drive market competitiveness and revenue growth. China, Japan, India, and Australia have displayed ample growth opportunities in the Customer Data Platform Market.

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CONTACT: About MarketsandMarkets™ MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions. Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve. MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. Contact: Mr. Aashish Mehra MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA: +1-888-600-6441 Email: sales@marketsandmarkets.com