Customer Data Platform Market - Global Forecast to 2023: Increasing Investment and Funding in CDP Start-ups

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Sep 24, 2018, 11:30 ET

DUBLIN, Sept. 24, 2018 /PRNewswire/ --

The "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" report has been added to ResearchAndMarkets.com's offering.

The global customer data platform 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 omni-channel 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 start-ups and technology advancements. The services segment has sub-segments 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.

Customer Data Platform Market

North America is expected to hold the largest market size in the global customer data platform market, while APAC to grow at the highest CAGR during the forecast period. The presence of many customer data platform vendors in North America for delivering enhanced personalized customer experience is driving the adoption of customer data platforms in the region. 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 customer data platforms and services.

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.

The global 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.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

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

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
4.4 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

5.1 Introduction
5.2 Access
5.3 Analytics
5.4 Engagement

6 Market, By Application

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

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

8.1 Introduction
8.2 Cloud
8.3 On-Premises

9 Market, By Enterprise Size

9.1 Introduction
9.2 Small and Medium-Sized Enterprises
9.3 Large Enterprises

10 Customer Data Platform Market, By Vertical

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

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

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

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

For more information about this report visit https://www.researchandmarkets.com/research/qwzlss/customer_data?w=5

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