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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
North America to be a Significant Regional Market for Customer Data Platform
North America is expected to be the largest customer data platform market region due to the increasing technological advancements. The United States is estimated to dominate the market due to significant market players with higher market shares and increased funding for customer data platforms (CDP). Also, the marketers and brands in the region have been the early adopters of CDPs. The growing utilisation of the big data technology, the rising amount of data across verticals, and the increasing investments by companies in data analytics will further propel the growth of the market in North America during the forecast period. Organisations, especially in the United States, use the CDP platform to generate insightful information from structured and unstructured data. Solutions such as customer retention and engagement and personalised recommendations offered by CDP are helping companies remain competitive in the market.
Sectors in the United States, such as BFSI, healthcare, and eCommerce, are rapidly adopting the platform at a higher pace due to the growing inclination toward customer satisfaction and offering better-personalised experiences. For instance, in October 2021, ActionIQ, the United States-based CDP for marketers, analysts, and technologists, announced to expand its CDP into the healthcare sector by accomplishing its compliance audit for Health Insurance Portability and Accountability (HIPAA) Type 1 standards. Such regional initiatives are likely to drive the customer data platform market in North America in the forecast period.
Customer Data Platform Market Report Snapshots
Customer Data Platform Market Size
Customer Data Platform Market Growth
Customer Data Platform Market Regional Analysis
Customer Data Platform Companies
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the global customer data platform market attained a value of nearly USD 2.82 billion.
The market is projected to grow at a CAGR of 21.6% between 2024 and 2032.
The market is estimated to witness healthy growth in the forecast period of 2024-2032 to reach USD 16.40 billion by 2032.
The major drivers of the market include the increasing technological advancements, presence of significant market players, growing utilisation of the big data technology, growing inclination toward customer satisfaction, real-time and personalised data analysis offered by the customer data platform, growing adoption of account-based marketing, and increasing funding and investments by significant organisations.
Increasing expenditure on marketing and advertising activities by organisations and growing demand for determining consumer buying behaviour across different industries are the key industry trends propelling the market growth.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The components in the market include platforms and services.
Based on the deployment model, the market is divided into on-premises and cloud.
Based on organisation size, the market is segmented into large enterprises and small and medium enterprises (SMEs).
The significant market applications include personalised recommendations, predictive analytics, marketing data segmentation, customer retention and engagement, and security management, among others.
The major verticals of the market are BFSI, retail and eCommerce, media and entertainment, travel and hospitality, telecom and IT, and healthcare, among others.
The major players in the industry are Oracle Corporation, SAP SE, Adobe Inc., Microsoft Corporation, and SAS Institute Inc, among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124