Customer Data Platform Market

Oracle (US) and SAP’s (Germany) are Leading Players in the Customer Data Platform Market

The Customer Data Platform (CDP) market size is projected to grow from USD 2.4 billion in 2020 to USD 10.3 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 34.0% during the forecast period. The major factors driving the growth of the CDP market include the increasing spending on marketing and advertising activities by enterprises, changing landscape of customer intelligence, and proliferation of customer channels.

Key market players profiled in this report include Oracle (US), SAP (Germany), Adobe (US), Salesforce (US), Microsoft (US), SAS (US), Teradata (US), Nice (Israel), Dun & Bradstreet (US), Leadspace (US), Zylotech (US), BlueVenn (UK), CaliberMind (US), Celebrus (UK), Tealium (US), AgilOne (US), BlueConic (US), Lytics (US), IgnitionOne (US) and Amperity (US). These players have adopted various growth strategies, such as partnerships and new service launches to expand their presence further in the CDP market and broaden their customer base.

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Oracle (US) offers CDP solutions through the Oracle CX Unity and Oracle CDM Cloud. Oracle CX Unity with built-in Artificial Intelligence (AI) and Machine Learning (ML) capabilities enable organizations to deliver an experience that is timely, relevant, and consistent across known and unknown interactions. Oracle CX Unity provides brands with powerful and actionable insights in real-time across the entire customer experience. CDM offers exceptional Customer Data Management (CDM) capabilities on a subscription-based Software as a Service (SaaS) platform. It is a simple, quick, and scalable solution that companies can utilize to consolidate accounts and contact data originating from multiple sources, verify addresses, resolve duplicate record issues, and ensure a best version of customer profiles that can be trusted by companies. In September 2019, Oracle announced a series of new data-first updates across Oracle Customer Experience (CX) Cloud that includes enhancements to the CDM platform. The latest updates include new digital assistants for sales, customer service and marketing professionals, new data-enriched Business-to-Business (B2B) sales capabilities, and new industry solutions for telecom and media, financial services, and public sector. These updates are fueled by data and ML to help Oracle’s customers take the advantage of powerful data insights to get ahead of customer needs and ensure a positive, unforgettable customer experience.

SAP’s (Germany) CDP solutions include SAP Customer Data Cloud, SAP Marketing Cloud, and SAP C/4HANA. These solutions help marketers execute personalized marketing campaigns and provide transparency to customers and control over the use of their personal data. It also helps customers maintain compliance with data protection laws. In December 2019, SAP updated its CDP with new features that include new registration screens, a new policy and Android, and iOS Software Development Kits (SDKs). The new update offers password-less authentication, a new import guide, and design updates.

Related Reports:

Customer Data Platform Market by Component, Application (Customer Retention and Engagement, Predictive Analytics, Personalized Recommendations), Deployment Mode, Organization Size, Industry Vertical, Capability, and Region - Global Forecast to 2025

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Report Code
TC 6601
RI Published ON
3/11/2020
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