The Latin America, Middle East and Africa Customer Data Platform Market would witness market growth of 37.7% CAGR during the forecast period (2021-2027).
By using Customer Data Platform, companies can easily gather and organize real-time data into individual, centralized customer profiles. Moreover, it is a type of database software that is helpful in developing constant, unified records of all the customers, their characteristics, and their data. An ideal customer data platform is capable of combining the available data and enable simple extraction of the data it saves.
Moreover, huge investments and funding by main companies in customer data platforms are also pushing the growth of the customer data platform market. According to the customer data platform institute, the vendors of this platform have significantly increased spending on such platforms in the past few years. This increase in investment would motivate vendors to incorporate the latest technologies like artificial intelligence & machine learning with customer data platforms, which will give precise outputs.
LAMEA includes underdeveloped and developing nations. The customer data platform market in LAMEA is witnessing a slow rise due to the presence of small and medium enterprises. The adoption of this platform needs high spending and also, there is a need for a time-to-time update of these platforms, which again needs high investment. These reasons are anticipated to hamper the growth of the customer data platform market in this region in the upcoming years.
Moreover, there is a need for highly skilled professionals, which is emerged as a major factor in declining the demand for the customer data platform in this region. In contrast, the growing awareness among marketers about these platforms in this region is projected to gradually surge the demand for the customer data platform. Thus, LAMEA would witness a slow increase in the growth of the customer data platform market over the forecast years.
The Brazil market dominated the LAMEA Media & Entertainment Customer Data Platform Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $86.3 million by 2027. The Argentina market would witness a CAGR of 39.9% during (2021 - 2027). Additionally, The UAE market is estimated to grow at a CAGR of 38.7% during (2021 - 2027).
Based on Component, the market is segmented into Platform (Without Services) and Services. Based on Application, the market is segmented into Personalized Recommendations, Predictive Analytics, Marketing Data Segmentation, Customer Retention & Engagement, Security Management and Others. Based on Deployment Type, the market is segmented into On-premise and Cloud. Based on Enterprise Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Based on End User, the market is segmented into BFSI, Retail & eCommerce, Media & Entertainment, Healthcare, Travel & Hospitality, Telecom & IT and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Customer Data Platform Market is Predict to reach $20.5 Billion by 2027, at a CAGR of 34%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include SAP SE, Oracle Corporation, Microsoft Corporation, Adobe, Inc., Salesforce.com, Inc., Teradata Corporation, Totango, Ltd., Upland Software, Inc., Acquia, Inc. and SAS Institute, Inc.
By Component
By Application
By Deployment Type
By Enterprise Size
By End User
By Country
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