Global Customer Data Platform Market is Rising with the Adoption Of Machine Learning And Artificial Intelligence by 2028

Rise in use of digital platform across the world is boosting growth in Global Customer Data Platform Market in the forecast period of 2024-2028.

According to TechSci Research report, Customer data platform Market - Global Industry Size, Share, Trends, Opportunity, and Forecast. 2018–2028, the Global Customer data platform market is anticipated to register a robust growth during the forecast period, 2024-2028. Global Customer Data Platform Market will expand due to growing understanding of the capabilities and advantages of such platforms, a customer data platform has grown to become increasingly important among industry stakeholders over the course of the forecast period. According to industry stakeholders, a customer database is the most crucial element for modelling campaigns that primarily depend on target consumers. As a result, a data platform gradually changed from an access type to a campaign- and analytics-based Customer data platform (CDP). The development of real-time customer profiles and autonomous data collecting from different third-party sources have made it possible to use a customer data platform more extensive. Expanding use of customer data platform is driving the market growth.

Moreover, implementation of strict regulatory standards for consumer data privacy is driving the growth in the market. One of the major drivers of the CDP market's expansion is vendors putting GDPR (General Data Protection Regulation) technologies and a CDP into place to assist providers in complying to the essential regulations. The incorporation of GDPR technologies aids companies in winning over clients' trust. For instance, Piwik.pro, a provider of tag management and enterprise analytics platforms, linked its GDPR consent manager and customer data platform to build customer profiles from first-party data sources while following the rules and compliances. Hence, boosting the growth in the market.

Additionally, to expand their businesses global companies have started mergers and acquisitions in several region. Companies are supported in retaining their business expertise by the implementation of a cutting-edge customer data platform. Additionally, modernizing and enhancing an existing product portfolio will improve a vendor's position on the market. Also, the companies are spending money to integrate CDP with customer 360 platform. For instance, Salesforce Inc. places more emphasis on investments by expanding its product line through mergers and acquisitions with regional and local businesses such as diversifying its portfolio in the personalization engine, Salesforce bought Evergage, a customization and CDP supplier, in February 2020. Hence, rising M&A is boosting the market.

Browse over XX market data Figures spread through XX Pages and an in-depth TOC on " Global Customer dataplatform Market "

The Customer Data Platform market is segmented into component, deployment, type, industry, and organization size. Based on Component, the market is segmented into platform and services. Based on Deployment, the market is segmented into cloud and on-premises. Based on type, the market is segmented into personalized recommendations, predictive analysis, marketing data segmentation, customer retention and engagement, security management, and others. Based on industry, the market is segmented into Banking, Financial Services and Insurance (BFSI), retail and ecommerce, Information Technology (IT) and telecom, media and entertainment, travel and hospitality, healthcare, and others. Based on organization size, the market segmented into SMEs and large enterprises.

During the forecast period, the platforms segment is anticipated to hold highest market share. A growing demand for customer satisfaction has led to an increase in the need for the platform. To offer customers customized solutions, various industries are heavily investing in marketing and promotion. Industries are receiving platform installation services from the vendors. Large rivals like Oracle Inc. and Microsoft Corp. have entered the market by acquiring small and regional suppliers. These businesses make investments in the platform's upkeep and in services for integrating AI and ML.

On-premises are anticipated to have a major revenue share. The on-premises system, for instance, is managed by markets and advertisers. On-premises software is preferred by some firms as it provides total control over their data for users. As cloud-based technology advances, CDP users are utilizing on-premises. A cloud-based platform offers additional storage capacity and enables more economically sound expansion. Cloud-based technology offers data security and the tools required to safeguard sensitive customer data. Data can be accessed instantly via a cloud-based solution. For instance, Teredata.com and Google LLC collaborated to deliver their CDP on Google's cloud in October 2019. Due to this agreement, the companies will have access to and the ability to examine all data stored at minimal cost. Consequently, cloud-based platforms are developing.

Key market players in the Customer data platform market:

·         Salesforce.com, Inc.

·         Exponea s.r.o.

·         Segment.io, Inc.

·         Optimove Inc.

·         Oracle Inc.

·         Leadspace, Inc.

·         Acquia, Inc

·         Amazon Web Services, Inc.

·         Tealium Inc.

·         SAS Institute Inc.

Download Sample Report

Customers can also request for 10% free customization on this report.

“During the anticipated period, North America is anticipated to have the market's largest share. Most of the main players are headquartered in the United States. In the United States, businesses in the retail, financial services, and healthcare sectors are using the platform to improve customer delight and personalize their experiences. Moreover, The expansion of the customer data platform market is also being fueled by the existence of significant data catalogue solution providers in North America. Salesforce, Oracle, and Tealium are a few of the prominent participants in the market.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Customer Data Platform Market – Global Industry Size, Share, Trends, Opportunity, and Forecast. 2018-2028, Segmented By Component (Platform and Services), By Deployment (Cloud, On-premises), By Type (Personalized Recommendations, Predictive Analysis, Marketing Data Segmentation, Customer Retention and Engagement, Security Management, and Others), By Industry (Banking, Financial Services and Insurance (BFSI), Retail and ecommerce, Information Technology (IT) and Telecom, Media and Entertainment, Travel and Hospitality, Healthcare, and Others), By Organization Size (SMEs and Large Enterprises),By Region, Competition has evaluated the future growth potential of Customer data platform Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the Customer data platform Market.

Mr. Ken Mathews

708 Third Avenue,

Manhattan, NY,

New York – 10017S

Tel: +1-646-360-1656

Email: [email protected]