Customer Data Platform Market 2022 Outlook, Current and Future Industry Landscape Analysis 2030
NEWARK, UNITED STATES, December 5, 2022 /EINPresswire.com/ -- The global customer data platform market is expected to reach USD 20.03 billion by 2028; at a CAGR of 34.64% during the forecast period 2021-2028. The rising need to create a unified view of customer data across multiple channels is driving the growth of the market. Additionally, increasing investments in digital transformation initiatives to deliver better customer experiences are expected to fuel the growth of the market.
Furthermore, the emergence of artificial intelligence (AI) and machine learning (ML) technologies for data management is expected to drive the demand for CDPs in the coming years. The rise of advanced analytics tools has enabled organizations to gain valuable insights from customer data, which is expected to boost the market growth during the forecast period.
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The retail & e-commerce segment is expected to register the highest CAGR during the forecast period. This can be attributed to the increasing adoption of CDPs by retail & e-commerce companies to gain a better understanding of their customers and personalize their shopping experiences.
North America Customer data platform Market Share in 2020 was 45.86%. North America is expected to dominate the market during the forecast period. This can be attributed to the presence of a large number of CDP providers in the region. Additionally, the rising adoption of CDPs by companies across various industries in the region is expected to contribute to the growth of the market in North America.
The key players in the market include Adobe Systems Incorporated, Microsoft Corporation, Oracle Corporation, Salesforce.com, Inc., SAP SE, AgilOne, Inc., Ascent360, Inc., BlueVenn Ltd., Bristol Insight, and Lytics, Inc.
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The Brainy Insights has segmented the global customer data platform market on the basis of below mentioned segments:
Global Customer Data Platform Market by Component:
• Solution
• Services
Global Customer Data Platform Market by Deployment Type:
• Cloud
• On Premise
Global Customer Data Platform Market by Application:
• Personalized Recommendations
• Predictive Analytics
• Marketing Data Segmentation
• Customer Retention and Engagement
• Security Management
• Others
Global Customer Data Platform Market by Industry Vertical:
• BFSI
• Retail and ecommerce
• Media and Entertainment
• Travel and Hospitality
• IT & Telecom
• Healthcare
• Others
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