Customer Data Platform Market Size, Share, Growth Opportunities & Industry Report, 2020-2027

Global Customer Data Platform Market reveals that the market is slated to register a higher CAGR over the forecast period. This is attributed to the fundamentally changing landscape of customer intelligence, the proliferation of customer channels, growing expenditure on marketing and advertising activities by companies.

DUBLIN, DUBLIN -- (SBWIRE) -- 03/02/2021 -- Customer Data Platform Market Dynamics (including market size, share, trends, growth, forecast, and industry analysis)

Key Drivers

The fundamentally changing landscape of customer intelligence, the proliferation of customer channels, growing expenditure on marketing and advertising activities by companies worldwide are the key drivers propelling the growth of the global customer data platform market size. With the increasing business competition, marketers deliver profitable and engaging customer experiences through personalized communications and interactions. Thus, businesses are emphasizing improvements in marketing program performance, which could decrease operational costs. Customer data platform facilitates marketers in decreasing costs through fined-tuned operations based on deeper customer understanding. CDP allows marketers to personalize the customer experience and decrease various customer interactions needed to drive results. The software can also be utilized to access cross-channel data at the customer level and offer true values to marketing activities. The customer data platform monetizes customer data and saves money for a business by enhancing operational effectiveness and efficiency, thus contributing to the growth of the customer data platform market share in terms of revenue.

Customer Data Platform Market's leading Manufacturers:

- Microsoft Corporation
- Oracle Corporation
- SAP SE
- Adobe Inc
- Salesforce.com Inc
- SAS Inc
- Teradata Corporation
- Dun & Bradstreet Corporation
- Leadspace
- Zylotech

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Deployment Mode Segment Drivers

Based on deployment mode, the market is segmented into on-premises and cloud. The cloud is expected to rise at higher CAGR over the coming years due to various benefits, such as flexibility, cost-effectiveness, scalability, agility, and ease in maintenance of produced data. Enterprises at a global level prefer adopting cloud-based CDP solutions, as these solutions support their regional, cross-regional, cross-country data recovery strategies and allow businesses to confirm resiliency in case of disaster. Additionally, manufacturers or vendors in the market prefer providing cloud-based CDP solutions to efficiently boost profits and automate the equipment maintenance process.

Regional Drivers

Based on the region, North America is projected to dominate the market over the coming years due to the rising amount of data across verticals, increasing use of big data technology, and growing investments by organizations in data analytics. Businesses mainly in the US are adopting CDP solutions at an increased rate to get significant information from unstructured and structured data, thereby stimulating the growth of the customer data platform market.

Customer Data Platform Market Segmentation:

Segmentation by Component:

- Platform
- Services

Segmentation by Deployment Mode:

- On-Premises
- Cloud

Segmentation by Organization Size:

- Large Enterprises
- Small and Medium-Sized Enterprises (SMEs)

Segmentation by Application:

- Personalized Recommendations
- Predictive Analytics
- Marketing Data Segmentation
- Customer Retention and Engagement
- Security Management
- Others (Data Enrichment and Data Monetization)

Segmentation by Industry:

- Banking, Financial Services & Insurance (BFSI)
- Retail & eCommerce
- Media & Entertainment
- Travel & Hospitality
- Telecom & Information Technology (IT)
- Healthcare
- Others (Automobile, Government and Education)

Segmentation by Capability:

- Open Access
- Real-time Analytics
- Audience Management
- Identity Management

Segmentation by Region:

- North America

o United States of America
o Canada

- Asia Pacific

o China
o Japan
o India
o Rest of APAC

- Europe

o United Kingdom
o Germany
o France
o Spain
o Rest of Europe

- RoW

o Brazil
o South Africa
o Saudi Arabia
o UAE
o Rest of the world (remaining countries of the LAMEA region)

Our Other Relevant Reports:

1. Customer Success Platforms Market
2. Customer Analytics Market

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