Customer Data Platform Market by Type, Application (Marketing Segmentation, Personalized Recommendation, Campaign Management, Customer Engagement & Retention), Component, Delivery Mode, Enterprise Size, Vertical, and Region - Global Forecast to 2023

[187 Pages Report] The global customer data platform market size is expected to reach USD 3,265.4 million by 2023 from USD 639.9 million in 2017, growing at a Compound Annual Growth Rate (CAGR) of 29.3% during the forecast period.

The base year for the study is 2017 and the forecast period is 2018–2023.The customer data platform (CDP) market is said to have a potential scope for growth in the years to come due to increasing adoption of the customer data platform for omni-channel customer experience and demand for real-time data availability.

Market Dynamics

Drivers

• Demand for omnichannel experience and actionable insights by marketers
• Effective tracking of customers to understand their behavior for targeted marketing activities
• Increasing pressure on CMOs to deliver personalized customer experience is leading to high demand for real-time data availability
  

Restraints

• Data privacy laws and protection of customer data are critical for CDP adoption
  

Opportunities

• Increasing investment and funding in CDP startups
  

Challenges

• Requirement of huge infrastructure and scalable solutions for collecting and storing large volumes of customer data
• Lack of tools to integrate online and offline customer data in real time
  

The following are the major objectives of the study

• To define, describe, and forecast the size of the customer data platform market by type (access, analytics and engagement), application (marketing data segmentation, personalized recommendation, predictive analytics, campaign management, customer engagement and retention, security management and others), component (solutions and services), enterprise size (small and medium-sized enterprise, and large enterprises), delivery mode (cloud and on-premises), vertical (BFSI, retail and ecommerce, media and entertainment, IT and telecommunication, travel and hospitality, energy and utilities, automobile, healthcare and life sciences and others), and region (North America, APAC, Europe, Latin America and MEA). The report also aims at providing detailed information about major factors, such as drivers, restraints, opportunities, and challenges, influencing the growth of the customer data platform market.
• The report also aims at providing detailed information about the major factors influencing the growth of the CDP market (drivers, restraints, opportunities, and challenges).
• To strategically analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall market
• To study the complete value chain of CDP market
• To analyze opportunities in the market for stakeholders by identifying the high-growth segments of the CDP ecosystem
• To strategically profile key players and comprehensively analyze their market position in terms of ranking and core competencies, along with detailing competitive landscape for market leaders
• To analyze strategic approaches such as product launches, acquisitions, contracts, agreements, and partnerships in the CDP market
  

The research methodology used to estimate and forecast the global customer data platform market size begins with capturing data from key vendors’ revenue through secondary research, annual reports, government, publishing sources, the Institute of Electrical and Electronics Engineers (IEEE), Factiva, Bloomberg, and press releases. The vendor offerings are also considered to determine the market segmentation. The bottom-up procedure is employed to arrive at the overall global customer data platform market size from the revenues of key market players. After arriving at the overall market size, the total market is split into several segments and subsegments, which are then verified through primary research by conducting extensive interviews with key individuals, such as Chief Executive Officers (CEOs), Vice Presidents (VPs), directors, and executives. The data triangulation and market breakdown procedures are employed to complete the overall market engineering process and arrive at the exact statistics for all the segments and subsegments.

The figure below depicts the breakup of the primary participants’ profiles:

To know about the assumptions considered for the study, download the pdf brochure

Major vendors in the global customer data platform market include Nice. (Israel), SAP (Germany), Salesforce (US), Adobe (US), SAS Institute (US), Oracle (US), Agilone (US), Tealium (US), IgnitionONE (US), Blueconic (US), RedPoint Global (US), Ascent360 (US), Segment (US), Lytics (US), Zaius (US), mParticle (US), ActionIQ (US), Amperity (US), Evergage (US), Reltio (US), Signal (US), Ensighten (US), UserMind (US), Fospha (UK), NG Data (Belgium), and SessionM (US).

Major Market Developments

1. In July 2018, Salesforce acquired Datorama, a leading provider of cloud-based marketing intelligence and analytics platforms. This acquisition would help marketers integrate and gain insights from one single source of data.
2. In March 2018, Adobe introduced Experience Cloud Profile that offers a real-time view of customers, stores data from different sources, and performs identity management to create a unified customer view.
3. In May 2016, Oracle acquired Opower, a leading provider of customer engagement and energy efficiency cloud services for the energy and utilities vertical. This acquisition helped Oracle become the largest provider of mission-critical cloud services to the energy and utilities vertical, thereby enhancing its customer base.
   

Target Audience :

• Customer Data Platform Vendors
• Customer Analytics Vendors
• Network and System integrators
• Marketing Analytics Executives
• Third Party Service Providers

“The study answers several questions for stakeholders; primarily, which market segments to focus on in the next 2 to 5 years for prioritizing their efforts and investments.”

Scope of the Report

The report segments the global customer data platform market by type, application, component, enterprise size, delivery mode, vertical, and region:

By Type

• Access
• Analytics
• Engagement

By Application

• Marketing Data Segmentation
• Personalized Recommendation
• Predictive Analytics
• Campaign Management
• Customer Engagement and Retention
• Security Management
• Others (Data Enrichment, Marketing Automation, Data Monetization, and Customer Analytics)

By Component

• Solutions
  • Software Tools
  • Platforms
• Services
  • Consulting Services
  • Support and Maintenance Services

By Enterprise Size

• Small and Medium-sized Enterprises (SMEs)
• Large Enterprises

By Delivery Mode

• Cloud
• On-premises

By Vertical

• BFSI
• Retail and eCommerce
• Media and Entertainment
• IT and Telecommunication
• Travel and Hospitality
• Energy and Utilities
• Automobile
• Healthcare and Life Sciences
• Others (Agriculture, Government, and Education)

By Region

• North America
• Europe
• Asia Pacific (APAC)
• Middle East and Africa (MEA)
• Latin America

Available Customizations

With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the report:

Product Analysis

• Product matrix which gives a detailed comparison of product portfolio of each company

Geographic Analysis

• Further breakup of the North American customer data platform market
• Further breakup of the European market
• Further breakup of the APAC market
• Further breakup of the MEA market
• Further breakup of the Latin American market

Company Information

• Detailed analysis and profiling of additional market players

Table of Contents

1 Introduction (Page No. - 18)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
    1.4 Years Considered for the Study
    1.5 Currency
    1.6 Stakeholders

2 Research Methodology (Page No. - 22)
    2.1 Research Data
           2.1.1 Secondary Data
           2.1.2 Primary Data
                    2.1.2.1 Breakdown of Primaries
                    2.1.2.2 Key Industry Insights
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
           2.2.2 Top-Down Approach
    2.3 Research Assumptions
    2.4 Limitations

3 Executive Summary (Page No. - 28)
    3.1 Attractive Opportunities in the Market
    3.2 Top 3 Verticals
    3.3 Top 3 Applications and Regions
    3.4 Global Customer Data Platform Market, By Region
    3.5 Market By Delivery Mode
    3.6 Market By Region
    3.7 Market Investment Scenario

4 Market Overview and Industry Trends (Page No. - 38)
    4.1 Introduction
    4.2 Market Dynamics
           4.2.1 Drivers
                    4.2.1.1 Demand for Omni-channel Experience and Actionable Insights By Marketers
                    4.2.1.2 Effective Tracking of Customers to Understand Their Behavior for Targeted Marketing Activities
                    4.2.1.3 Increasing Pressure on CMOs to Deliver Personalized Customer Experience is Leading to High Demand for Real-Time Data Availability
           4.2.2 Restraints
                    4.2.2.1 Data Privacy Laws and Protection of Customer Data are Critical for CDP Adoption
           4.2.3 Opportunities
                    4.2.3.1 Increasing Investment and Funding in CDP Start-ups
           4.2.4 Challenges
                    4.2.4.1 Requirement of Huge Infrastructure and Scalable Solutions for Collecting and Storing Large Volumes of Customer Data
                    4.2.4.2 Lack of Tools to Integrate Online and Offline Customer Data in Real Time
    4.3 Use Cases
           4.3.1 Introduction
           4.3.2 Use Case: Scenario 1
           4.3.3 Use Case: Scenario 2
           4.3.4 Use Case: Scenario 3
           4.3.5 Use Case: Scenario 4
           4.3.6 Use Case: Scenario 5
           4.3.7 Use Case: Scenario 6
    4.4 Regulatory Implications
           4.4.1 Introduction
           4.4.2 General Data Protection Regulation (GDPR)
           4.4.3 Can–Spam
           4.4.4 ePrivacy Directive (EPR)
           4.4.5 Governance, Risk, and Compliance (GRC)
           4.4.6 SOC 2 Type 2 Compliance
    4.5 Customer Data Platform: Value Chain Analysis
           4.5.1 Data Collection
           4.5.2 Profile Unification
           4.5.3 Segmentation
           4.5.4 Activation

5 Customer Data Platform Market, By Type (Page No. - 48)
    5.1 Introduction
    5.2 Access
    5.3 Analytics
    5.4 Engagement

6 Market, By Application (Page No. - 53)
    6.1 Introduction
    6.2 Marketing Data Segmentation
    6.3 Personalized Recommendation
    6.4 Predictive Analytics
    6.5 Campaign Management
    6.6 Customer Engagement and Retention
    6.7 Security Management
    6.8 Others

7 Customer Data Platform Market, By Component (Page No. - 61)
    7.1 Introduction
    7.2 Solutions
           7.2.1 Software Tools
           7.2.2 Platforms
    7.3 Services
           7.3.1 Consulting Services
           7.3.2 Support and Maintenance Services

8 Market, By Delivery Mode (Page No. - 68)
    8.1 Introduction
    8.2 Cloud
    8.3 On-Premises

9 Market, By Enterprise Size (Page No. - 72)
    9.1 Introduction
    9.2 Small and Medium-Sized Enterprises
    9.3 Large Enterprises

10 Customer Data Platform Market, By Vertical (Page No. - 76)
     10.1 Introduction
     10.2 Banking, Financial Services, and Insurance
     10.3 Retail and Ecommerce
     10.4 Media and Entertainment
     10.5 IT and Telecommunication
     10.6 Travel and Hospitality
     10.7 Energy and Utilities
     10.8 Automobile
     10.9 Healthcare and Life Sciences
     10.10 Others

11 Customer Data Platform Market, By Region (Page No. - 88)
     11.1 Introduction
     11.2 North America
             11.2.1 United States
             11.2.2 Canada
     11.3 Europe
             11.3.1 United Kingdom
             11.3.2 Netherlands
             11.3.3 France
             11.3.4 Rest of Europe
     11.4 Asia Pacific
             11.4.1 Australia
             11.4.2 Japan
             11.4.3 India
             11.4.4 Rest of Asia Pacific
     11.5 Middle East and Africa
             11.5.1 Middle East
             11.5.2 Africa
     11.6 Latin America
             11.6.1 Brazil
             11.6.2 Mexico
             11.6.3 Rest of Latin America

12 Competitive Landscape (Page No. - 122)
     12.1 Introduction
     12.2 Top Players in the Market
     12.3 Competitive Scenario
             12.3.1 New Product Launches and Product Enhancements
             12.3.2 Partnerships and Agreements
             12.3.3 Acquisitions

13 Company Profiles (Page No. - 127)
(Business Overview, Solutions and Services Offered, Recent Developments, SWOT Analysis & MnM View)*
     13.1 Introduction
     13.2 Oracle
     13.3 SAP
     13.4 Salesforce
     13.5 Adobe
     13.6 Nice
     13.7 SAS Institute
     13.8 Tealium
     13.9 Segment
     13.10 Zaius
     13.11 AgilOne
     13.12 ActionIQ
     13.13 BlueConic
     13.14 Ascent360
     13.15 Evergage
     13.16 Lytics
     13.17 mParticle
     13.18 NGDATA
     13.19 IgnitionOne
     13.20 Signal
     13.21 Usermind
     13.22 Amperity
     13.23 Reltio
     13.24 Ensighten
     13.25 Fospha
     13.26 SessionM

*Details on Business Overview, Solutions and Services Offered, Recent Developments, SWOT Analysis & MnM View Might Not Be Captured in Case of Unlisted Companies.

14 Appendix (Page No. - 178)
     14.1 Industry Experts
     14.2 Discussion Guide
     14.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     14.4 Available Customizations
     14.5 Related Reports
     14.6 Author Details

List of Tables (95 Tables)

Table 1 United States Dollar Exchange Rate, 2015–2017
Table 2 Global Customer Data Platform Market Size and Growth Rate, 2016–2023 (USD Million, Y-O-Y %)
Table 3 Funding Raised By Major CDP Vendors Till June 2018
Table 4 Major Customer Data Platform Providers, By Type
Table 5 Customer Data Platform Market Size, By Type, 2016–2023 (USD Million)
Table 6 Access: Market Size, By Region, 2016–2023 (USD Million)
Table 7 Analytics: Market Size, By Region, 2016–2023 (USD Million)
Table 8 Engagement: Market Size, By Region, 2016–2023 (USD Million)
Table 9 Customer Data Platform Market Size, By Application, 2016–2023 (USD Million)
Table 10 Marketing Data Segmentation: Market Size, By Region, 2016–2023 (USD Million)
Table 11 Personalized Recommendation: Market Size, By Region, 2016–2023 (USD Million)
Table 12 Predictive Analytics: Market Size, By Region, 2016–2023 (USD Million)
Table 13 Campaign Management: Market Size, By Region, 2016–2023 (USD Million)
Table 14 Customer Engagement and Retention: Market Size, By Region, 2016–2023 (USD Million)
Table 15 Security Management: Market Size, By Region, 2016–2023 (USD Million)
Table 16 Others: Market Size, By Region, 2016–2023 (USD Million)
Table 17 Customer Data Platform Market Size, By Component, 2016–2023 (USD Million)
Table 18 Solutions: Market Size, By Type, 2016–2023 (USD Million)
Table 19 Software Tools Market Size, By Region, 2016–2023 (USD Million)
Table 20 Platforms Market Size, By Region, 2016–2023 (USD Million)
Table 21 Services: Market Size, By Type, 2016–2023 (USD Million)
Table 22 Consulting Services Market Size, By Region, 2016–2023 (USD Million)
Table 23 Support and Maintenance Services Market Size, By Region, 2016–2023 (USD Million)
Table 24 Customer Data Platform Market Size, By Delivery Mode, 2016–2023 (USD Million)
Table 25 Cloud: Market Size, By Region, 2016–2023 (USD Million)
Table 26 On-Premises: Market Size, By Region, 2016–2023 (USD Million)
Table 27 Customer Data Platform Market Size, By Enterprise Size, 2016–2023 (USD Million)
Table 28 Small and Medium-Sized Enterprises: Market Size, By Region, 2016–2023 (USD Million)
Table 29 Large Enterprises: Market Size, By Region, 2016–2023 (USD Million)
Table 30 Customer Data Platform Market Size, By Vertical, 2016–2023 (USD Million)
Table 31 Banking, Financial Services, and Insurance: Market Size, By Region, 2016–2023 (USD Million)
Table 32 Retail and Ecommerce: Market Size, By Region, 2016–2023 (USD Million)
Table 33 Major Retailers Across the Globe
Table 34 Media and Entertainment: Market Size, By Region, 2016–2023 (USD Million)
Table 35 IT and Telecommunication: Market Size, By Region, 2016–2023 (USD Million)
Table 36 Travel and Hospitality: Market Size, By Region, 2016–2023 (USD Million)
Table 37 Energy and Utilities: Market Size, By Region, 2016–2023 (USD Million)
Table 38 Automobile: Market Size, By Region, 2016–2023 (USD Million)
Table 39 Healthcare and Life Sciences: Market Size, By Region, 2016–2023 (USD Million)
Table 40 Others: Market Size, By Region, 2016–2023 (USD Million)
Table 41 Customer Data Platform Market Size, By Region, 2016–2023 (USD Million)
Table 42 Smartphone Users in North America, 2018–2023 (Million)
Table 43 North America: Customer Data Platform Market Size, By Country, 2016–2023 (USD Million)
Table 44 North America: Market Size, By Type, 2016–2023 (USD Million)
Table 45 North America: Market Size, By Application, 2016–2023 (USD Million)
Table 46 North America: Market Size, By Component, 2016–2023 (USD Million)
Table 47 North America: Market Size, By Solution, 2016–2023 (USD Million)
Table 48 North America: Market Size, By Service, 2016–2023 (USD Million)
Table 49 North America: Market Size, By Delivery Mode, 2016–2023 (USD Million)
Table 50 North America: Market Size, By Enterprise Size, 2016–2023 (USD Million)
Table 51 North America: Market Size, By Vertical, 2016–2023 (USD Million)
Table 52 Smart Phone Users in Europe, 2018–2023 (Million)
Table 53 Europe: Customer Data Platform Market Size, By Country, 2016–2023 (USD Million)
Table 54 Europe: Market Size, By Type, 2016–2023 (USD Million)
Table 55 Europe: Market Size, By Application, 2016–2023 (USD Million)
Table 56 Europe: Market Size, By Component, 2016–2023 (USD Million)
Table 57 Europe: Market Size, By Solution, 2016–2023 (USD Million)
Table 58 Europe: Market Size, By Service, 2016–2023 (USD Million)
Table 59 Europe: Market Size, By Delivery Mode, 2016–2023 (USD Million)
Table 60 Europe: Market Size, By Enterprise Size, 2016–2023 (USD Million)
Table 61 Europe: Market Size, By Vertical, 2016–2023 (USD Million)
Table 62 Smartphone Users in Asia Pacific, 2018–2023 (Million)
Table 63 Asia Pacific: Customer Data Platform Market Size, By Country, 2016–2023 (USD Million)
Table 64 Asia Pacific: Market Size, By Type, 2016–2023 (USD Million)
Table 65 Asia Pacific: Market Size, By Application, 2016–2023 (USD Million)
Table 66 Asia Pacific: Market Size, By Component, 2016–2023 (USD Million)
Table 67 Asia Pacific: Market Size, By Solution, 2016–2023 (USD Million)
Table 68 Asia Pacific: Market Size, By Service, 2016–2023 (USD Million)
Table 69 Asia Pacific: Market Size, By Delivery Mode, 2016–2023 (USD Million)
Table 70 Asia Pacific: Market Size, By Enterprise Size, 2016–2023 (USD Million)
Table 71 Asia Pacific: Market Size, By Vertical, 2016–2023 (USD Million)
Table 72 Smartphone Users in Middle East and Africa, 2018–2023 (Million)
Table 73 Middle East and Africa: Customer Data Platform Market Size, By Subregion, 2016–2023 (USD Million)
Table 74 Middle East and Africa: Market Size, By Type, 2016–2023 (USD Million)
Table 75 Middle East and Africa: Market Size, By Application, 2016–2023 (USD Million)
Table 76 Middle East and Africa: Market Size, By Component, 2016–2023 (USD Million)
Table 77 Middle East and Africa: Market Size, By Solution, 2016–2023 (USD Million)
Table 78 Middle East and Africa: Market Size, By Service, 2016–2023 (USD Million)
Table 79 Middle East and Africa: Market Size, By Delivery Mode, 2016–2023 (USD Million)
Table 80 Middle East and Africa: Market Size, By Enterprise Size, 2016–2023 (USD Million)
Table 81 Middle East and Africa: Market Size, By Vertical, 2016–2023 (USD Million)
Table 82 Smartphone Users in Latin America, 2018–2023 (Million)
Table 83 Latin America: Customer Data Platform Market Size, By Country, 2016–2023 (USD Million)
Table 84 Latin America: Market Size, By Type, 2016–2023 (USD Million)
Table 85 Latin America: Market Size, By Application, 2016–2023 (USD Million)
Table 86 Latin America: Market Size, By Component, 2016–2023 (USD Million)
Table 87 Latin America: Market Size, By Solution, 2016–2023 (USD Million)
Table 88 Latin America: Market Size, By Service, 2016–2023 (USD Million)
Table 89 Latin America: Market Size, By Delivery Mode, 2016–2023 (USD Million)
Table 90 Latin America: Market Size, By Enterprise Size, 2016–2023 (USD Million)
Table 91 Latin America: Market Size, By Vertical, 2016–2023 (USD Million)
Table 92 Market Ranking for Customer Data Platform Market, 2018
Table 93 New Product Launches and Product Enhancements, 2016–2018
Table 94 Partnerships and Agreements, 2017–2018
Table 95 Acquisitions, 2016–2018

List of Figures (57 Figures)

Figure 1 Market Segmentation
Figure 2 Regional Scope
Figure 3 Customer Data Platform Market: Research Design
Figure 4 Breakdown of Primary Interviews: By Company, Designation, and Region
Figure 5 Data Triangulation
Figure 6 Market Size Estimation Methodology: Bottom-Up Approach
Figure 7 Market Size Estimation Methodology: Top-Down Approach
Figure 8 Customer Data Platform Market: Assumptions
Figure 9 North America is Estimated to Have the Largest Market Share in 2018
Figure 10 Customer Data Platform Market Snapshot, By Type, 2017
Figure 11 Market Snapshot, By Application, 2017
Figure 12 Market Snapshot, By Component, 2017
Figure 13 Market Snapshot, By Solution, 2017
Figure 14 Market Snapshot, By Service, 2017
Figure 15 Market Snapshot, By Delivery Mode, 2017
Figure 16 Market Snapshot, By Enterprise Size, 2017
Figure 17 Market Snapshot, By Vertical, 2017
Figure 18 The Global Customer Data Platform Market is Expected to Witness Significant Growth During the Forecast Period
Figure 19 Retail and Ecommerce Vertical is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 20 Personalized Recommendation Application and North America are Estimated to Have the Largest Market Shares in the Customer Data Platform Market in 2018
Figure 21 Asia Pacific is Expected to Register the Highest CAGR During the Forecast Period
Figure 22 Cloud Delivery Mode is Expected to Have the Larger Market Size During the Forecast Period
Figure 23 North America is Estimated to Have the Highest Market Share in 2018
Figure 24 Asia Pacific is Expected to Emerge as the Best Region for Investments During the Forecast Period
Figure 25 Customer Data Platform Market: Drivers, Restraints, Opportunities, and Challenges
Figure 26 Market Value Chain Analysis
Figure 27 Analytics Segment is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 28 Customer Engagement and Retention Segment is Expected to Record the Highest CAGR During the Forecast Period
Figure 29 Services Segment is Expected to Record A Higher CAGR During the Forecast Period
Figure 30 Software Tools Segment is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 31 Support and Maintenance Services Segment is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 32 Cloud Delivery Mode is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 33 Small and Medium-Sized Enterprises Segment is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 34 Retail and Ecommerce Vertical is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 35 North America is Estimated to Account for the Largest Market Size in 2018
Figure 36 Asia Pacific is Expected to Register the Highest CAGR During the Forecast Period
Figure 37 North America: Market Snapshot
Figure 38 Customer Engagement and Retention is Expected to Grow at Highest CAGR During Forecast Period
Figure 39 Customer Engagement and Retention is Expectedt to Grow at Highest CAGR During Forecast Period
Figure 40 Asia Pacific: Market Snapshot
Figure 41 Customer Engagement and Retention is Expected to Grow at Highest CAGR During Forecast Period
Figure 42 Customer Engagement and Retention is Expected to Grow at Highest CAGR During Forecast Period
Figure 43 Customer Engagement and Retention is Expected to Grow at Highest CAGR During Forecast Period
Figure 44 Key Developments By the Leading Players in the Customer Data Platform Market During 2016–2018
Figure 45 Oracle: Company Snapshot
Figure 46 Oracle: SWOT Analysis
Figure 47 SAP: Company Snapshot
Figure 48 SAP: SWOT Analysis
Figure 49 Salesforce: Company Snapshot
Figure 50 Salesforce: SWOT Analysis
Figure 51 Adobe: Company Snapshot
Figure 52 Adobe: SWOT Analysis
Figure 53 Nice: Company Snapshot
Figure 54 Nice: SWOT Analysis
Figure 55 SAS Institute: Company Snapshot
Figure 56 SAS Institute: SWOT Analysis
Figure 57 Tealium: SWOT Analysis

MarketsandMarkets forecasts the global customer data platform (CDP) market size to grow from USD 903.7 million in 2018 to USD 3,265.4 million by 2023, at a Compound Annual Growth Rate (CAGR) of 29.3% during 2018–2023. Major growth drivers for the market include an increasing demand for omni-channel experience and actionable insights by marketers and effective tracking of customers to understand their behavior for target marketing activities, and increasing pressure on CMOs to deliver personalized content spurring the demand for real-time data availability.

The customer data platform market by type has access, analytics, and engagement segments. The analytics segment is expected to grow at the highest CAGR during the forecast period, owing to an increasing demand for personalization and omnichannel experience by the marketing executives to increase their revenues and reduce customer churn rates.

In the customer data platform by applications, the personalized recommendation application is expected to hold the largest market size during the forecast period. An increasing demand for customer conversion, retention, and engagement is a major growth driver for the segment.

In the customer data platform market by components, the services segment is expected to grow at a higher CAGR during the forecast period owing to increasing investments in startups and technology advancements. The services segment has subsegments of support and maintenance services and consulting services.

The cloud delivery mode is projected to hold a larger market size in the market by growing at a higher rate during the forecast period, as it is a cost-effective and scalable solution.

In the customer data platform by enterprise size, the Small and Medium-sized Enterprises (SMEs) segment is expected to grow at a higher CAGR during the forecast period. The increasing demand for scalable and cost-effective solutions is expected to accelerate the growth of customer data platform solutions among SMEs.

In the customer data platform market by vertical, the retail and eCommerce vertical is projected to hold the largest market size by growing at the highest rate during the forecast period. Most of the marketing agencies are adopting the customer data platform solutions for better customer engagement and delivering personalized interactions. 

APAC is expected to grow at highest CAGR during the forecast period

North America is expected to hold the largest market size in the global CDP market, while APAC to grow at the highest CAGR during the forecast period. In APAC, the highest growth rate can be attributed to the heavy investments made by private and public sectors for enhancing their marketing technologies, resulting in the increased demand for CDP and services. The presence of many CDP vendors in North America for delivering enhanced personalized customer experience is driving the adoption of customer data platforms in the region.

Critical questions the report answers:

• What are the current trends in CDP market that is driving the demand for effective marketing strategies?
• What are the upcoming industry trends in CDP market?

The global CDP market faces many challenges including the requirement of huge infrastructure or scalable solutions for collection and storage of large volumes of customer data. Lack of awareness and knowledge among marketers may hinder the market growth.

Major vendors in the global CDP market include Salesforce (US), SAS Institute(US), Oracle (US), SAP (Germany), Nice (Israel), Adobe (US), Tealium (US), BlueConic (US), Ascent360 (US), Lytics (US), mParticle (US), Amperity (US), Reltio (US), Ensighten (US), Fospha (UK), SessionM (US), RedPoint Global (US), Segment (US), Zaius (US), AgilOne (US), ActionIQ (US), Evergage (US), NGDATA (Belgium), IgnitionOne (US), Signal (US), and Usermind (US). These vendors have adopted many organic and inorganic growth strategies, such as new product launches, partnerships and collaborations, and mergers and acquisitions, to further expand their presence in the global CDP market.

To speak to our analyst for a discussion on the above findings, click Speak to Analyst