The global customer data platform market is anticipated to grow at a considerable CAGR of 16.9% during the forecast period. CDP is a packaged software that combines data from multiple tools to create a single centralized customer database accessible by other systems to analyze, track, and manage customer interactions. It is designed for marketing applications such as loyalty programs, campaigns, user-generated content, and others. The platform collects and unifies first-party customer data from multiple sources to build a single, coherent, and complete view of each customer. Afterward, the generated data is made available to marketers, which supports in creation of targeted and personalized marketing campaigns. CDP is used for several applications such as customer segmentation, customer personalization, lead scoring, product recommendations, optimizing conversion rates, omnichannel automation, improved email deliverability, better and more online reviews, improve customer lifetime value (CLV), and others.
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As a result, there is a considerable surge in the demand for related solutions and software, further accompanied by the software and platform launches of new and innovative solutions by market players. For instance, in October 2020, SAP SE launched SAP CDP, a next generation platform (CDP) that allows organizations to redefine the customer experience across every engagement, from commerce and marketing to sales and service. SAP CDP is planned to go beyond marketing by adding rich context to commerce, sales, and service experiences, with relevant timely marketing. In addition, the platform also delivers personalized services to customers, based on its ability to collect and manage user’s data. This enables organizations to know the customer at every touch point to effectively drive relevant conversations and create lasting customer loyalty.
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Market Coverage
- Segment Covered-
o By Component
o By Deployment
o By Vertical
- Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape- including Oracle Corp., SAP SE, Adobe Systems Software Ireland Ltd., Salesforce, Inc., Microsoft Corp., SAS Institute Inc., Teradata Corp., and others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Customer Data Platform Market Report Segment
By Component
- Platform
- Services
By Deployment
- Cloud
- On-Premises
By Vertical
- BFSI
- Retail and E-commerce
- Media & Entertainment
- Travel & Hospitality
- Telecom & It
- Healthcare
- Others
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1. We cover more than 15 major industries, further segmented into more than 90 sectors.
2. More than 120 countries are for analysis.
3. Over 100+ paid data sources mined for investigation.
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