About Customer Data Platform Software
Customer data platform software are used to consolidate and integrate customer data into one single database. These tools offer marketing teams relevant insights needed to run campaigns. Customer data platform software can grab information from online and offline sources such as websites, mobile apps, and email platforms to offer a complete view of customers. After retrieving this data, a customer data platform software can then help organizations predict the optimal next move with a particular customer. This has led to significant growth of the global customer data platform software market in the forecast period.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 35.32% |
The key manufacturers are targeting the innovations of the products with better quality, better technical characteristics, and also assist in providing and humanizing the after-sale service to the consumers. The key players are probable to keep a stronghold on the market over the anticipated period. The key players are accepting strategic decisions and are thinking upon mergers and acquisitions in order to maintain their presence in the market. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Customer Data Platform Software market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Oracle (United States), Microsoft (United States), SAP (Germany), Adobe (United States), Salesforce (United States), SAS Institute (United States), Teradata (United States), Nice (Israel), Dun & Bradstreet (United States), Leadspace (United States) and Zylotech (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are BlueVenn (United Kingdom), Phunware, Inc. (United States), CaliberMind (United States), Celebrus (United Kingdom), Tealium (United States), AgilOne (United States), BlueConic (United States), Lytics (United States), IgnitionOne (United States) and Amperity (United States).
Segmentation Overview
AMA Research has segmented the market of Global Customer Data Platform Software market by , Application (Personalized Recommendations, Predictive Analytics, Marketing Data Segmentation, Customer Retention and Engagement, Security Management and Others (Data Enrichment and Data Monetization)) and Region.
On the basis of geography, the market of Customer Data Platform Software has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Organization Size, the sub-segment i.e. Large Enterprises will boost the Customer Data Platform Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Capability, the sub-segment i.e. Open Access will boost the Customer Data Platform Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Industry Verticals, the sub-segment i.e. Banking, Financial Services and Insurance (BFSI) will boost the Customer Data Platform Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Deployment, the sub-segment i.e. Cloud-Based will boost the Customer Data Platform Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Component, the sub-segment i.e. Platform will boost the Customer Data Platform Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Rising Adoption for the AI and Machine Learning Tool
Market Growth Drivers:
Increasing Spending on Marketing and Advertising Activities By Enterprises and Changing Landscape of Customer Intelligence
Challenges:
Longer Time Required for Creating Marketing Campaigns and Confusion Around What CDP Can and Should Do
Restraints:
Data Privacy Laws and Protection of Customer Data are Critical for CDP Adoption
Opportunities:
Automated Smart Machines to Drive Customer Experience and Increasing Investment and Funding in Customer Data Platform Startups
Market Leaders and their expansionary development strategies
In October 2023, Datwe, a leading provider of customer data integration (CDI) solutions, announced a partnership with Salesforce, a leading provider of customer relationship management (CRM) software. The partnership will integrate Datwe's CDI platform with Salesforce's CRM suite, enabling businesses to better understand and manage their customer data.
In October 2023, SAP announced the global launch of its next-generation CDP, designed to enable enterprises to redefine the customer experience across every engagement. The CDP aims to connect every data source within the organization, including first-party CRM data, second-party, third-party, and offline data, and event and activity streams.
Key Target Audience
Customer Data Platform Software Providers, Research Organizations and Consulting Companies, Potential Technology Investors, Regulatory & Government Bodies, Downstream Vendors, End Users and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.