The global customer data platform market size is expected to reach USD 49.80 billion by 2030 according to a new study by Polaris Market Research. The report “Customer Data Platform Market Share, Size, Trends, Industry Analysis Report, By Vertical (BFSI, Retail & E-commerce, Media & Entertainment, Travel & Hospitality, IT & Telecom, Healthcare, Others); By Component; By Deployment Mode; By Application; By Region; Segment Forecast, 2022 - 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The major driving factor for the growth such as the increasing inclination of start-ups towards customer data performance on account of increasing demand for advertising and marketing, along with increased integration of AI and machine learning technology is likely to pave the way for the global industry demand. Moreover, the gradual increase in the proliferation of cloud-based systems, rapid demand for automated smart machinery to improve the consumer experience, and adoption of CDPs as real-time and personalized information analysis solutions are also taking a broad momentum to accelerate the industry growth over the foreseen period.
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Based on the deployment model, the on-premises segment is dominating the global industry and is anticipated to fuel the industry over the forecasting period. Factors such as on-premises market systems offer much better control over the users' information than cloud-based systems, which, in turn, boost the segment demand globally. Whereas the cloud-based segment in the global industry is showing the fastest CAGR over the forthcoming period. Owing to such deployment mode provide more information security as well as capabilities to protect sensitive information of the consumer, which contributes toward high segmental growth.
The current wave of technological breakthroughs and digitalization in business processes on account of the huge adoption of digital platforms in advertising and promotion is anticipated to boost the industry demand over the forthcoming scenario. The information confined in a digital platform enables better protection without much involvement of human operators. Therefore, providing better security reduced operational costs, a high level of accuracy, and enhanced client capability, which, in turn, drove the growth of the industry.
Major participants such as Amperity, Salesforce, Acquia, Adobe, Blueconic, Dun & Bradstreet, Leadspace, Zeta Global, Nice, Oracle, SAS Institute, Microsoft, Tealium, Teradata, Upland Software, and SAP are some of the key players operating in the global market.
Numerous industry players are launching their innovations across the global market to reinforce their global position. For instance, in November 2021, Microsoft has launched a new addition to its Dynamics 365 business app and industry portfolio, including the Microsoft Customer Experience Platform, which aimed at assisting consumers in personalizing, automating, and coordinating customer journeys.
Polaris Market Research has segmented the customer data platform market report on the basis of component, deployment mode, application, vertical, and region:
Customer Data Platform, Component Outlook (Revenue - USD Billion, 2018 - 2030)
Customer Data Platform, Deployment Mode Outlook (Revenue - USD Billion, 2018 - 2030)
Customer Data Platform, Application Outlook (Revenue - USD Billion, 2018 - 2030)
Customer Data Platform, Vertical Outlook (Revenue - USD Billion, 2018 - 2030)
Customer Data Platform, Regional Outlook (Revenue - USD Billion, 2018 - 2030)