North America Customer Data Platform Market By Component (Platform (Without Services) and Services), By Application (Personalized Recommendations, Predictive Analytics, Marketing Data Segmentation, Customer Retention & Engagement, Security Management and Others), By Deployment Type (On-premise and Cloud), By Enterprise Size (Large Enterprises and Small & Medium Enterprises), By End User (BFSI, Retail & eCommerce, Media & Entertainment, Healthcare, Travel & Hospitality, Telecom & IT and Others), By Country, Opportunity Analysis and Industry Forecast, 2021 - 2027
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Market Report Description
The North America Customer Data Platform Market would witness market growth of 32% CAGR during the forecast period (2021-2027).
Customer Data Platform is a platform where all the collected data gets stored and then examined to further process. In the constantly evolving world, the players in the market need to stay connected with their customers and provide the necessary services. Thus, for players in the market, CDP is a suitable solution and is capable to serve companies. It provides customized real-time data about a customer when the data is inserted into this platform. According to this, CDP provides instant analysis like the data is feed in the system instantly; CDP helps in providing analyzed data related to the customer and its choices. This enables the company to stay connected with the customer and build a strategy based on the customer experience. In addition, the customer frequently visits the website and explores new products that are related to what they desire.
The customer data platform market growth in North America is accelerating, owing to the factors such as increasing investments by enterprises in customer data analytic, presence of major marketers and solution providers of CDP, generation of the huge volume of data from numerous verticals, and surging utilization of big data technology. In addition, the US emerged as a leading nation in the past few years due to the presence of key market players obtaining the highest market shares and rising investment for CDP solutions. Additionally, several brands and marketers are focusing on adopting CDP solutions to improve the engagement of their customers.
CDP has found its large application in North America because it offers benefits like collecting data from varied sources and stores it within the platform that is further used to combine applications and examine data. Moreover, this platform assists companies to understand their consumers as it builds a truthful and combined view on customer behavior, products, and transactions. Further, marketers have witnessed the effectiveness and results of the campaign that they want to examine. Furthermore, marketers may enhance their efforts of promoting the product or service by having a deep insight and understanding of the data. Therefore, these factors are accountable to surge the growth of the regional customer data platform market.
The US market dominated the North America Customer Data Platform Services Market by Country 2020, thereby, achieving a market value of $1,616 million by 2027. The Canada market is experiencing a CAGR of 37.6% during (2021 - 2027). Additionally, The Mexico market would witness a CAGR of 36.4% 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 U.S., Mexico, Canada, and Rest of North America.
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.
Scope of the Study
Market Segments Covered in the Report:
- Platform (Without Services)
- Personalized Recommendations
- Predictive Analytics
- Marketing Data Segmentation
- Customer Retention & Engagement
- Security Management
By Deployment Type
By Enterprise Size
- Large Enterprises
- Small & Medium Enterprises
By End User
- Retail & eCommerce
- Media & Entertainment
- Travel & Hospitality
- Telecom & IT
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- SAP SE
- Oracle Corporation
- Microsoft Corporation
- Adobe, Inc.
- Salesforce.com, Inc.
- Teradata Corporation
- Totango, Ltd.
- Upland Software, Inc.
- Acquia, Inc.
- SAS Institute, Inc.
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