PUNE, India, July 16, 2024 /PRNewswire/ -- Stellar Market
Research, a global IT & Telecommunication Market research firm
has published a competitive intelligence and market research report
on the "Consumer Data Platform Market". The Consumer Data Platform
Market size was valued at USD 8.05 Bn
in 2023 and the total Consumer Data Platform revenue is expected to
grow at a CAGR of 32 percent from 2024 to 2030, reaching nearly
USD 56.22 Bn by 2030.
The Customer Data Platform (CDP) market is experiencing
significant growth due to the increasing demand for customer
intelligence and omnichannel experiences. CDPs enable businesses to
manage data volume and complexity from various customer channels,
ensuring data unification and identity resolution. CDPs are
essential for advertising and marketing strategies, offering
personalized experiences while adhering to data protection
regulations.
The report on the Consumer Data Platform Market involves a
comprehensive analysis of market structure, competition, and growth
drivers. The market size is methodically estimated using a
bottom-up approach to understand growth patterns. Key insights
typically cover major drivers at global levels, challenges for
future growth, and opportunities arising from technological
advancements. Regional analyses provide information on market
leaders, penetration rates, and geographical factors influencing
the industry. The qualitative and quantitative analyses are
employed using tools like SWOT, PESTLE, and Porter's Five Forces to
guide investment and marketing decisions.
Market Size in
2023
|
USD 8.05 Bn.
|
Market Size in
2030
|
USD 56.22
Bn.
|
CAGR
|
32 percent
(2024-2030)
|
Forecast
Period
|
2024-2030
|
Base
Year
|
2023
|
Number of
Pages
|
278
|
No. of
Tables
|
118
|
No. of Charts and
Figures
|
110
|
Segment
Covered
|
Component, Application,
and Vertical
|
Regional
Scope
|
North America, Europe,
Asia Pacific, Middle East and Africa, South America
|
Report
Coverage
|
Market Share, Size
& Forecast by Revenue | 2024−2030, Market Dynamics, Growth
Drivers, Restraints, Investment Opportunities, and Key Trends,
Competitive Landscape, Key Players Benchmarking, Competitive
Analysis, MMR Competition Matrix, Competitive Leadership Mapping,
Global Key Players' Market Ranking Analysis.
|
Get your Sample
PDF:https://www.stellarmr.com/report/req_sample/Customer-Data-Platform-Market/292
What's New: Recent Additions and Updates
- An in-depth analysis of competitive developments in the market,
such as mergers and acquisitions, product developments,
partnerships, and collaborations.
- An in-depth analysis of ROI and cost-effectiveness for
various types of CDP implementations across different industries
and company sizes.
- Analysis of regulatory impacts on CDP adoption and usage,
focusing on data privacy laws like GDPR, CCPA, and emerging global
standards.
Key Player Offerings
- Tealium collaborates with Snowflake's Snowpipe Streaming API,
combining top-tier customer data collection and activation
capabilities. It leverages Snowflake's power to streamline how
businesses get real-time customer behavior data into the Snowflake
Data Cloud. This allows for faster analytics, AI applications, and
a complete view of the customer to improve customer service and
engagement.
- Nissan Motor Co Ltd. Japan has
selected Treasure Data's enterprise customer data platform (CDP) to
enhance its customer experience strategy. The automaker aims to
unify data and improve brand communication across all touchpoints.
Treasure Data's CDP will help Nissan achieve a 360-degree customer
view, strengthen data governance, and integrate various
platforms.
First-Party Data Reshaping the Consumer Data Platform
Market
Growing privacy concerns and regulatory measures are driving a
major shift in the consumer data platform (CDP) market toward
first-party data management. First-party data, or information
acquired directly from consumers via their contacts with the
business, is the emphasis of companies these days. When compared to
third-party data, this data is more accurate, dependable, and
privacy-compliant. According to SMR, first-party data is crucial
since 80% of marketers think it offers the best return on
investment (ROI). Leading companies in the CDP space, like Adobe,
are taking advantage of this change by incorporating cutting-edge
technology into their systems. For instance, Adobe's Real-Time CDP
uses machine learning and AI algorithms to evaluate first-party
data and provide real-time insights and customization. This
strategy increases customer satisfaction and boosts revenue.
Businesses utilizing Adobe's Real-Time CDP claim a 15% rise in
customer satisfaction and a 25% improvement in marketing
efficiency. Companies that centralize first-party data and adopt a
unified data strategy see a 25% improvement in data accuracy and a
33% decrease in data management expenses. A 360-degree perspective
of the consumer is made possible by centralization, which enables
companies to send out marketing messages that are more accurate and
timely. First-party data methods are expected to become more
popular as companies prioritize data protection and customization,
creating new opportunities for development and competitive
advantage.
Request for a Sample
Report:https://www.stellarmr.com/report/req_sample/Customer-Data-Platform-Market/292
North America Leading the Consumer Data Platform
Revolution
North America, particularly
the United States is home to
leading technology firms that drive innovation in in the consumer
data platform market. According to SMR, more than 75% of Fortune
500 companies headquartered in North
America contribute to a high demand for advanced data
management solutions. This need is being driven by organizations'
need to use data for customized marketing, bettering customer
experiences, and obtaining a competitive edge. North America is recognized for its strong
revenue production from e-commerce and digital marketing, two
industries that significantly depend on consumer data. For
instance, the amount spent on digital advertising in the United States alone in 2023 was over
$200 billion, highlighting the
significant need for insights based on data. The United States exports software services
worth about $50 billion a year,
making the North American import and export of technology and
software services important. Adoption rates and market trust are
further supported by North
America's stringent legal frameworks, which include the
California Consumer Privacy Act (CCPA) and the General Data
Protection Regulation (GDPR). These frameworks ensure high
standards in data management and protection. The region continues
to grow the boundaries of technical innovation and data-driven
business strategies, maintaining its position as the top-selling
market for consumer data solutions.
Consumer Data Platform Market Segmentation
By Component
By Application
- Personalized Recommendations
- Predictive Analytics
- Marketing Data Segmentation
- Customer Retention and Engagement
- Security Management
- Others
By Vertical
- BFSI
- Retail and eCommerce
- Media and Entertainment
- Travel and Hospitality
- Telecom and IT
- Healthcare
- Others
Consumer Data Platform Market Key Competitors include
- Informatica LLC
- IBM Corporation
- Oracle Corporation
- SAP SE
- Stibo Systems A/S
- Riversand Technologies, Inc.
- Others
Inquire Before
Buying:https://www.stellarmr.com/report/enquire_now/Customer-Data-Platform-Market/292
Key questions answered in the Consumer Data Platform Market
are:
- What is a Consumer Data Platform?
- What is the current growth rate of the Consumer Data Platform
Market?
- Who are the key players in the Consumer Data Platform
Market?
- What are the strategies used by competitors in the Consumer
Data Platform Market?
- What are the growth prospects in developing countries for the
Consumer Data Platform Market?
- Which segment is expected to witness the fastest growth and why
in the Consumer Data Platform Market in 2023?
- What are the factors affecting growth in the Consumer Data
Platform Market?
- Who held the largest market share in the Consumer Data Platform
Market?
- What is the demand pattern for the Consumer Data Platform
Market?
- What are the opportunities for the Consumer Data Platform
Market?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2022)
- Past Pricing and price curve by region (2018 to 2022)
- Market Size, Share, Size & Forecast by Different Segment |
2024−2030
- Market Dynamics – Growth Drivers, Restraints, Opportunities,
and Key Trends by Region
- Market Segmentation – A detailed analysis by Component,
Application, Vertical, and Region
- Competitive Landscape – Profiles of selected key players by
region in a strategic perspective
- Competitive landscape – Market Leaders, Market Followers,
Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER's analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
Stellar Market Research a leading IT & Telecommunication
research firm, has also published the following reports:
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was valued at US $ 785.68 Million in
2023 and the total Market revenue is expected to grow at 13 % from
2024 to 2030, reaching nearly US $ 1848.41
Million.
Data Center Virtualization market: The market was
valued at USD 9.98 Billion. In 2023
the total revenue is expected to grow at a CAGR of 17.5% through
2024-2030, reaching nearly USD 30.88
Billion.
Europe Big Data Market: The market size was
valued at US$ 86.20 Bn. in 2023 and
the total revenue is expected to grow at 7.8% through 2024 to 2030,
reaching nearly US$ 145.84 Bn. by
2030.
Data Integration Market: The market size was
valued at US$ 13.12 Bn in 2023. The
Global Data Integration Market is estimated to grow at a CAGR of
11.23% over the forecast period.
Master Data Management Market: The market was
valued at USD 21.76 billion in 2023.
Global Master Data Management Market size is estimated to grow at a
CAGR of 15.9 % over the forecast period.
About Stellar Market Research:
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consulting company with professionals from several industries. Some
industries we cover include medical devices, pharmaceutical
manufacturers, science and engineering, electronic components,
industrial equipment, technology and communication, cars and
automobiles, chemical products and substances, general merchandise,
beverages, personal care, and automated systems.
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