According to a new market research report “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″, published by MarketsandMarkets™, the Customer Data Platform Market expected 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 growth factors 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. Automated smart machines to drive consumer experience. Increasing investments and fundings in CDP startups are further expected to offer opportunities for the increased adoption of CDPs.
in-depth TOC on “Customer Data Platform
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=94223554
The large enterprises segment to hold a larger market size during the forecast period
The CDP market is segmented into large enterprises and Small and Medium-sized Enterprises (SMEs) by organization size. The large enterprises segment is expected to have a larger market size during the forecast period, owing to large volumes of data being generated by large enterprises and increasing demand for CDP platform and services to store, manage, and analyze this data. Large enterprises have a huge corporate network and organize a large number of events. CDPs enable large enterprises to gain cheap storage solutions and fast and reliable access to processed data, which can help organize corporate data and generate insights. However, the SMEs segment is expected to grow at a higher CAGR during the forecast period.
By application, the customer retention and engagement segment to grow at the highest CAGR during the forecast period
The CDP market by application is segmented into five categories: personalized recommendations, predictive analytics, marketing data segmentation, customer retention and engagement, security management, others (data monetization and data enrichment). The customer retention and engagement segment is expected to grow at a rapid pace during the forecast period. Organizations are adopting CDP platforms and services to engage their loyal and prospect customers. This application offers organizations with opportunities to learn more about their customers than ever before.
North America to hold the largest market size during the forecast period
North America is the most significant revenue contributor to the global CDP market. The region is witnessing significant developments in the CDP market. CDP applications are gaining traction in the travel and hospitality industry vertical in North America due to the rising demand to provide a unique experience that is tailor-made for each user.
Request Sample Pages @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=94223554
These solutions offers more flexible, scalable, and cheaper data storage solutions than traditional data warehousing solutions, along with offering improved analytics capacity. Many CDP solution providers in North America are experimenting in the market by integrating advanced big data and analytics technologies with their existing CDP solutions. They are also adopting various growth strategies to strengthen their positions in the overall market. Major North American vendors in the CDP market are Oracle (US), Adobe (US), Salesforce (US), Microsoft (US), SAS (US), Teradata (US), Dun & Bradstreet (US), Leadspace (US), Zylotech (US), CaliberMind (US), Tealium (US), AgilOne (US), BlueConic (US), Lytics (US), IgnitionOne (US), and Amperity (US).
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, and strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Aashish Mehra
630 Dundee Road
Northbrook, IL 60062
MnM Blog: https://mnmblog.org