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A customer data platform (CDP), a marketeer-based management system, is used to integrate and combine customer data into one customer database. CDP is used to manage multiple marketing campaigns across different channels. The customer data platform offers several advantages to organizations such as easily access to the big data, less time consuming and giving a personalised experience to the customers. The master data management market is anticipated to reach more than US$ 25 Bn in 2026 from around US$ 8 Bn in 2018. This growth is also expected to contribute to the growth of customer data platform market throught the forecast period 2019 – 2026.
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Additionally, the key players of this market have been efficiently playing their role by making significant progress in the specifications of this systems and brought in new technologies and techniques of working which further proved to be productive for for the growth of customer data platform (CDP) market.
Key Players in Customer Data Platform Market Include Oracle Corporation, SAP, Adobe inc., Tealium, BlueConic, Ascent360, Lytics, AgilOne, ActionIQ, and Evergage Inc., Salesforce Inc., etc.
· Marketing Data Segmentation
· Personalized Data Recommendation
· Predictive Analysis
· Campaign Management
· Customer Mngagement and Retention
· Security Management
By Organisation Size
· Small and Medium Enterprises
· Large Enterprises
By Industry Vertical
· Media & Entertainment
· IT & Telecom
· Travel & Hospitality
· North America (USA and Canada)
· Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
· Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
· Latin America (Brazil, Mexico and Rest of Latin America)
· Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
There are many opportunities in the market, including rising investments in CDP startups. For Instance, Lytics, as well as Retio, one of the leading Customer Data Platform for marketers, raised an amount of US$ 35 Mn and US$ 45 Mn in Series C investment round.
The market in North America accounted for maximum revenue share in the global customer data platform market over the forecast period 2019 – 2026, owing to the growing adoption of customer data platforms in countries across the region. The Asia Pacific customer data platform market is anticipated in the global market owing to the substantial investments done by private and public sectors for improving their marketing technologies in the region.
Among regions, APAC is expected to witness the highest growth rate in the global customer data platform market during the forecast period.Many private vendors in the region offer CDP solutions and services for data assembly, analytics, and customer engagements.
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