Customer Data Platform Market Size Worth USD 96.33 Billion by 2034 | CAGR: 30.2%

The global customer data platform market size is expected to reach USD 96.33 billion by 2034 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, 2025 - 2034” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The major driving factor for growth is the increasing inclination of start-ups towards customer data performance, driven by the growing demand for advertising and marketing, as well as the increased integration of AI and machine learning technology, which is likely to pave the way for global industry demand. Moreover, the gradual increase in the proliferation of cloud-based systems, the rapid demand for automated smart machinery to improve the consumer experience, and the adoption of CDPs as real-time and personalized information analysis solutions are also gaining momentum to accelerate industry growth over the forecast period.

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Based on the deployment model, the on-premises segment dominates the global industry and is expected to drive growth over the forecast period. Factors such as on-premises market systems offer much better control over users' information than cloud-based systems, which, in turn, boost demand for the segment globally.

The cloud-based segment in the global industry is expected to show the fastest CAGR over the forthcoming period.

The deployment mode provides more information security as well as capabilities to protect sensitive consumer information, which contributes to high segmental growth. 

The current wave of technological breakthroughs and digitalization in business processes, driven by the widespread adoption of digital platforms in advertising and promotion, is expected to boost industry demand in the forecast period. The information stored on a digital platform enables better protection with minimal involvement of human operators. Therefore, providing better security reduced operational costs, achieved 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 among the key players operating in the global market.

Various industry players are launching their innovations globally to strengthen their market position. For instance, in November 2021, Microsoft launched a new addition to its Dynamics 365 business app and industry portfolio, including the Microsoft Customer Experience Platform, which aims to help consumers personalize, automate, and coordinate their 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, 2020 - 2034)

• Platform
• Services
• Professional Service
• Consulting Services
• Support & Maintenance

Customer Data Platform, Deployment Mode Outlook (Revenue - USD Billion, 2020 - 2034)

• Cloud
• On-Premises

Customer Data Platform, Application Outlook (Revenue - USD Billion, 2020 - 2034)

• Personalized Recommendations
• Predictive Analytics
• Marketing Data Segmentation
• Customer Retention & Engagement
• Security Management
• Others (Data Monetization and Data Enrichment)

Customer Data Platform, Vertical Outlook (Revenue - USD Billion, 2020 - 2034)

• BFSI
• Retail & E-commerce
• Media & Entertainment
• Travel & Hospitality
• IT & Telecom
• Healthcare
• Others

Customer Data Platform, Regional Outlook (Revenue - USD Billion, 2020 - 2034)

• North America
  • U.S.
  • Canada
• Europe
  • France
  • Germany
  • UK
  • Italy
  • Spain
  • Netherlands
  • Austria
• Asia Pacific
  • China
  • India
  • Japan
  • Malaysia
  • South Korea
  • Indonesia
• Latin America
  • Mexico
  • Brazil
  • Argentina
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa