Leading Growth Driver in the Customer Data Platforms Market

Published 3 weeks ago• 5 minute read

Customer Data Platforms Market Size

How Are the key drivers contributing to the expansion of the customer data platforms market?
The expansion of the retail and e-commerce sectors is predicted to fuel the surge of the customer data platform market. E-commerce involves online buying and selling of goods and services, while the retail sector includes all businesses that offer goods and services to customers. A customer data platform (CDP) is beneficial for retail and e-commerce marketing as it makes data accessible for marketers, aiding in personalized and targeted marketing strategies. For example, the India Brand Equity Foundation, an export promotion agency of the Indian government, anticipates that India's e-commerce market will hit USD 111 billion by 2024 and USD 200 billion by 2026. The retail sector managed to regain 96% of its pre-COVID-19 sales in September 2021, propelled by consumers' increasing demand. Thus, the rise in the retail and e-commerce sectors will stimulate the growth of the customer data platforms market.

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What growth opportunities are expected to drive the customer data platforms market's CAGR through 2034?
The market size of customer data platforms has witnessed exponential growth in the recent past. This market which was valued at $5.72 billion in 2024 is anticipated to expand to $7.39 billion by 2025, demonstrating a compound annual growth rate (CAGR) of 29.2%. This growth during the historical period can be ascribed to various elements including the growing significance of customer-focused strategies, proliferation of data sources, the surge in digital transformation initiatives, heightened emphasis on the customer experience (CX), regulatory amendments, and concerns around data privacy.

The market for customer data platforms is projected to grow significantly over the next several years, reaching $23.98 billion by 2029, with a robust compound annual growth rate (CAGR) of 34.2%. Numerous factors contribute to this predicted growth in the forecasted period, such as the increased need for real-time personalization, the rising significance of unified customer profiles, the emergence of subscription-based business models, the requirement for upgraded cross-channel marketing capabilities, and more robust data governance and security initiatives. Noteworthy trends for the forecast period involve the evolving vendor terrain for CDPs, cross-channel personalization, customization, flexibility, a surge in customer analytics demand, and the advent of cloud-native CDPs.

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What are the emerging trends shaping the future of the customer data platforms market?
The increasing popularity of AI-infused customer data platforms is a significant trend in the customer data platform market. The use of robust artificial intelligence and customer analytics tools, along with solid data architectures, enhance user experience and stimulate brand loyalty and growth. Major market players are devoting their focus on these AI-driven customer data platforms to boost their market performance. For instance, Salesforce, a US firm known for its customer relationship management software, in June 2023, launched the AI Cloud. This holistic suite is designed to amplify customer experiences utilizing artificial intelligence. It incorporates various AI functionalities into Salesforce's range of products, allowing companies to analyze data and offer personalized interactions on a large scale.

Which growth-oriented segments of the customer data platforms market are leading the industry's development?
The customer data platforms market covered in this report is segmented -

1) By Type: Analytics, Access, Campaign
2) By Component: Solutions, Services
3) By Deployment Mode: Cloud, On-Premises
4) By Organization Size: Large Enterprises, Small And medium-Sized Enterprises (SMEs)
5) By End-User: Banking, Financial Services And Insurance (BFSI), Retail And E-commerce, IT And Telecom, Healthcare, Manufacturing, Media And Entertainment, Other End-Users

Subsegments:
1) By Analytics: Predictive Analytics, Descriptive Analytics, Prescriptive Analytics
2) By Access: Data Integration Tools, Data Management Tools, Data Security Tools
3) By Campaign: Campaign Management Tools, Customer Journey Mapping Tools, A Or B Testing Tools

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What regions are leading the charge in the customer data platforms market?
North America was the largest region in the customer data platform market in 2024.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the customer data platforms market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

What companies are at the forefront of innovation in the customer data platforms market?
Major companies operating in the customer data platforms market include Oracle Corporation, SAP SE, Adobe Inc., Salesforce Inc., Microsoft Corporation, SAS Institute, Teradata, Nice Systems Ltd., Dun & Bradstreet, Leadspace, BlueVenn, BlueConic Inc., Terminus, Tealium Inc., Agilone LLC, mParticle Inc., Segment. Io Inc., CaliberMind, Celebrus, Ascent360 Inc., Lytics Inc., ActionIQ Inc., Optimove, Exponea Ltd., Ensighten Inc., Twilio Inc., Acquia Inc., Zeta Global Corp, Totango, Insider

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What Is Covered In The Customer Data Platforms Global Market Report?

•Market Size Forecast: Examine the customer data platforms market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the customer data platforms market for a structured understanding.
•Key Players Overview: Analyze major players in the customer data platforms market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the customer data platforms market.
•Segment Contributions: Evaluate how different segments drive overall growth in the customer data platforms market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the customer data platforms market.
•Industry Challenges: Identify potential risks and obstacles affecting the customer data platforms market.
•Competitive Landscape: Review strategic developments in the customer data platforms market, including expansions, agreements, and new product launches.

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