Global Customer Data Platform Market by Type (Access, Campaign, Analytics) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global customer data platform market was worth USD 730.1 millions in 2018. It is projected to grow at a compound annual rate (CAGR of 27.5%) between 2019 and 2025. This industry is expected to experience high growth due to the increasing demand to determine consumer buying habits across multiple industries. Many industries seek a single platform to manage data about their customers online and offline. This will allow them to create effective marketing strategies and reduce redundancies. Market growth is expected to be driven by the increasing adoption of account-based market strategies among organizations.

Enterprises can now gain insights into customer behavior through the increasing use of social media, blogs, e-commerce channels and webs. These insights allow them to determine customer preferences and adapt to changing market conditions. These efforts are mostly undertaken by companies to better engage customers and offer customized products. Manually collecting customer information and then categorizing and segmenting it is tedious and expensive. Organizations are encouraged to invest in data platforms that enable continuous customer engagement and offer unified consumer profiles.

A customer data platform has become more important to industry participants over the forecast period due to increased awareness of the benefits and features of these platforms among marketers. Marketers consider a customer database to be the most important factor in modeling campaigns based on their target customers. This led to the gradual transformation of a data-platform from access type to analytics- and campaign-based CDPs. The development of real-time customer profiles and autonomous data collection from third, first and second-party sources has led to increased adoption of customer data platforms.

One of the main factors driving market growth in CDP is the introduction of strict regulatory mandates regarding consumer data privacy. To help providers comply, vendors are using GDPR tools and a CDP. Providers can build trust with their customers by including GDPR tools. Piwik.pro is a provider of tag management and enterprise analysis platforms. It integrated its GDPR consent manager with customer data platform to create customer profiles using first-party data sources. This was in compliance with the regulations.

The market is also growing because of increased funding and investments made by large organizations through such platforms. According to the CDP institute in 2018, CDP vendors raised more than USD 1.5 million. These investments will encourage vendors to use advanced technologies like machine learning and AI with CDP to provide accurate results. According to the CDP Institute, approximately 4,000 companies had customer data platforms by 2018. These factors will all contribute to the market's growth.

Type Insights

The CDP market can be divided into three types based on type: access, campaign and analytics. In 2018, the highest revenue share was attributed to the campaign segment. The forecast period will see a significant increase in its revenue share. Campaign customer data platform has been highly demanded because it allows you to collect customer data from multiple sources and allow for the segregation customers based upon different parameters. This allows you to target marketing with real-time insights.

It is expected to gain momentum over the forecast period. This segment is expected to see the highest CAGR during the forecast period. Analytics platform is highly sought after due to its benefits, such as the ability to automatically create consumer profiles based on customer life cycles. This platform can also automatically generate profiles using personalized modelling and machine learning technology depending on segregation parameters for personalized marketing.

Application Insights

The market for customer platform is segmented based on application. It includes retail, banking, financial services and insurance, telecom, media and technology, travel, healthcare, discrete manufacturing, and others. B2C businesses have the highest demand for CDP, while B2B businesses are less likely to need it. In 2018, the retail segment generated the most revenue. Retail segment growth is driven by the need to engage customers, increase customer loyalty and enhance shoppers experience.

CDP is in high demand among B2B businesses. This is due to its many benefits, such as time-based analysis of customer engagement and online and offline collection of data. According to the CDP Institute study, 34% of B2B companies plan to deploy CDP by 2019. Over the forecast period, CDP deployment in BFSI industry is expected to rise. BFSI businesses are increasingly reliant on technology to market products and services to a particular group of customers. This is why CDP adoption has been growing.

Regional Insights

In 2018, the largest market share was held by North America. Pure-play vendors as well as providers of CDP sub-products can explain the region's growth. Due to US market leaders with larger market shares and more funding for CDP, the U.S. was the dominant market player in 2018. The region's marketers and brands were also early adopters for CDPs.

Europe and Asia Pacific are expected to grow at higher rates than North America. These regions have seen a greater number of campaign CDP and analytics providers, which can explain their growth. Campaign vendors account for over 50% of all European market vendors. In 2018, the Asia Pacific region's providers of analytics CDPs held a significant market share, which contributed to regional market growth.

Market Share Insights & Key Companies

Due to the many CDP vendors in the market, there is a fragmentation of the market. They are trying to use advanced technologies to gain an edge. To improve their platform, established and well-respected CDP vendors are forming strategic alliances with technology and service providers. In 2019, AgileOne formed a partnership with Snowflake Inc. in order to create a unified platform. This solution improves the accessibility of customer data. It also uses predictive and behavioral analytics, as well as offline & online identity resolution.

Major vendors like Tealium, Segment.io, Inc., NGDATA, Inc., ENSIGHTEN, Salesforce.com, Inc., and Adobe are present in the CDP market. Major vendors are involved in strategic partnerships, acquisitions, integration of additional capabilities, and strengthening their market presence. In 2018, ARM bought Treasure Data, a provider for access platforms, and Salesforce.com, Inc. purchased Datorama, a supplier of analytics platform. Other market players such as Oracle, SAP SE and other CDP pure-play vendors are also expected to enter the market. The market leader in customer data platform is:

• Oracle

• Salesforce.com, Inc.

• SAP SE

• Adobe

• Tealium

• Segment.io, Inc.

• AgileOne

• mParticle, Inc.

Up Market Research published a new report titled “Customer Data Platform Market research report which is segmented by Type (Access, Campaign, Analytics), By Players/Companies mParticle Inc, Salesforcecom Inc, SAP SE, AgileOne, Segmentio Inc, Oracle, Adobe, Tealium”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Customer Data Platform Market Report Segments:

The market is segmented by Type (Access, Campaign, Analytics).

Customer Data Platform Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Customer Data Platform Market

Overview of the regional outlook of the Customer Data Platform Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Customer Data Platform Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Customer Data Platform Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Access

                2. Campaign

                3. Analytics

7. Market scenario by region, sub-region, and country.
8. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
9. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
10. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Customer Data Platform Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

How you may use our products:

• Correctly Positioning New Products
• Market Entry Strategies
• Business Expansion Strategies
• Consumer Insights
• Understanding Competition Scenario
• Product & Brand Management
• Channel & Customer Management
• Identifying Appropriate Advertising Appeals

Reasons to Purchase the Customer Data Platform Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.