$7 Billion Customer Intelligence Platform Markets - Global Forecast to 2027: Increasing Need to Gain a Holistic View of Customer Data and Shift Toward Data-Driven Marketing and Advertising

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Mar 10, 2023, 19:00 ET

DUBLIN, March 10, 2023 /PRNewswire/ -- The "Customer Intelligence Platform Market by Component, Application (Customer Data Collection & Management, and Customer Segmentation & Targeting), Deployment Mode, Organization Size, Data Channel, Vertical and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.

The customer intelligence platform market size to grow from USD 1.9 billion in 2022 to USD 7.0 billion by 2027 at a Compound Annual Growth Rate (CAGR) of 29.7%

Several factors, such as the rising need to gain a holistic view of customer data, intensifying need to deliver omnichannel experience, the rising demand for personalized customer experiences, and the shift toward data-driven marketing and advertising.

In addition, heightened adoption of customer intelligence platforms to monitor changes in the market as they occur, and rising investments in customer intelligence platforms by large enterprises, all contribute to the expansion of the customer intelligence platform market.

Services segment to have a higher CAGR during the forecast period

Based on services, the customer intelligence platform market has been segmented into consulting and support, and maintenance services. These services help organizations streamline their marketing operations.

It includes the support offered by customer intelligence platform vendors to assist their customers in using and maintaining customer intelligence platform solutions efficiently. With customer data increasing day by day, organizations are increasingly adopting customer intelligence platform services to address marketing requirements for continuously evolving customer demands.

Cloud deployment segment to have the highest CAGR during the forecast period

Based on deployment modes, the customer intelligence platform market has been segmented into on-premises and cloud. The CAGR of the cloud deployment mode is estimated to be the largest during the forecast period.

Cloud-based customer intelligence platforms offer various advantages, including scalability, adaptability, easy deployment, and cost-effectiveness, which promote the adoption of cloud deployment across organizations. The low cost and ease of implementation have made the cloud a highly desirable delivery mode among organizations.

The SaaS deployment model is generating demand for a cloud-based customer intelligence platform, as it provides scalability and flexibility. The major providers of cloud-based customer intelligence platforms are Oracle, Adobe, and SAP.

SMEs segment to hold higher CAGR during the forecast period

The customer intelligence platform market has been segmented by organization size into large enterprises and SMEs.

SMEs with limited marketing budgets are trying to scale up their business through cost-efficient marketing techniques to generate the most ROI from their marketing spend.

Thus, a customer intelligence platform can help SMEs align with their limited budget and fulfill their business expansion objectives. With instant technological changes and digital transformations disrupting various industries, SMEs are also facing pressure to adjust to the latest trends and use technologically advanced solutions that support their business operations.

Asia Pacific is projected to hold the highest CAGR during the forecast period

Asia Pacific is expected to grow quickly during the forecast period.

Opportunities for smaller customer intelligence platform vendors to introduce customer intelligence platform solutions for numerous sectors have also increased. All these aspects are responsible for the region's expeditious growth of the customer intelligence platform market.

Companies operating in Asia Pacific continue to focus on improving customer services to drive market competitiveness and revenue growth. China, Japan and India have displayed ample growth opportunities in the customer intelligence platform market.

Premium Insights

Increasing Spending on Marketing and Advertising Activities by Enterprises
Retail & E-commerce Segment to Register Highest CAGR During Forecast Period
North America Held Largest Market Share in 2022
Platform and BFSI Segments Held Largest Shares of North American Market in 2022

Market Dynamics

Drivers

Need to Gain a Holistic View of Customer Data
Intensifying Need to Deliver Omnichannel Experience
Rising Demand for Personalized Customer Experiences
Shift Toward Data-Driven Marketing and Advertising

Restraints

Need to Ensure Compliance with Data Privacy Laws and Protect Customer Data

Opportunities

Development of AI- and ML-based Customer Intelligence Platforms
Heightened Adoption of Customer Intelligence Platforms to Monitor Changes in Market
Rising Investments in Customer Intelligence Platforms by Large Enterprises

Challenges

Organizational Failures Pertaining to Optimized Use of Customer Data
Lack of Skilled Workforce

Case Study Analysis

Understand Increasingly Diverse Customer Base Across Industries
Create More Personalized and Relevant Interactions
Analyze Consumer Behavior on All Touchpoints
Build Better Direct Relationships with Patients
Provide Real-Time and Automated Customer Service

Technology Analysis

Cloud Computing and Customer Intelligence Platforms
Big Data and Analytics and Customer Intelligence Platforms

Features of Customer Intelligence Platforms

Customer Service Software
Marketing Automation Software
Point of Sale Systems
E-commerce Platforms
Customer Relationship Management (CRM) Software

Types of Data Collected for Customer Intelligence

Demographic Data
Psychographic Data
Transactional Data
Behavioral Data

Regulations and Industrial Standards

General Data Protection Regulation (Gdpr)
Health Insurance Portability and Accountability Act (HIPAA)
International Organization for Standardization/International Electrotechnical Commission 27000 Standards
Cloud Security Alliance (Csa) Controls
Governance, Risk, and Compliance (Grc)
European Union Data Protection Regulation
Sarbanes-Oxley Act of 2002
Gramm-Leach-Bliley Act
European Union Data Protection Regulation
Can-Spam Act

Company Profiles

Key Players

IBM
Oracle
Microsoft
Adobe
Sas
Salesforce
Google
Accenture
Informatica
SAP
Verint
Teradata
Zeta Global
Tibco Software
Nice
Transunion

SMEs/Startups

Alida
Algonomy
Netbase Quid
Ngdata
Zeotap
Actioniq
Amperity
Useriq
Datashift
Staircase AI
Terminus
Lifesight

For more information about this report visit https://www.researchandmarkets.com/r/fgl9d2

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