DUBLIN--(BUSINESS WIRE)--The "Customer Data Platform Market by Type, Application (Marketing Segmentation, Personalized Recommendation, Campaign Management, Customer Engagement & Retention), Component, Delivery Mode, Enterprise Size, Vertical, and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The global customer data platform market size to grow from USD 903.7 million in 2018 to USD 3,265.4 million by 2023, at a Compound Annual Growth Rate (CAGR) of 29.3% during the forecast period.
Major growth drivers for the market include increasing demand for omni-channel experience and actionable insights by marketers, focus on effective tracking of customers to understand their behavior for target marketing activities, and increasing pressure on CMOs to deliver personalized customer experience. However, the lack of tools to integrate online and offline customer data in real-time and requirement of huge infrastructure or scalable solutions for collection and storage of large volumes of customer data may restrain the market growth.
In the customer data platform market by application, the customer engagement and retention application segment is expected grow at the highest CAGR during the forecast period. Major growth drivers for the segment include the marketers' preference for customer data platform for customer treatments, such as personalized messages, real-time interactions, content recommendations, and customer journey orchestration helping to enhance customer loyalty and their organizations' ROI.
Among regions, APAC is expected to grow at the highest CAGR in the global customer data platform market during the forecast period. Many private vendors in the region offer CDP solutions and services for data assembly, analytics, and customer engagements. The analytics applications include customer segmentation, machine learning, predictive modeling, revenue attribution, and customer journey mapping.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Market Overview and Industry Trends
5 Customer Data Platform Market, By Type
6 Market, By Application
7 Customer Data Platform Market, By Component
8 Market, By Delivery Mode
9 Market, By Enterprise Size
10 Customer Data Platform Market, By Vertical
11 Customer Data Platform Market, By Region
12 Competitive Landscape
13 Company Profiles
- SAS Institute