Customer Data Platform Market Focuses on Compliance with Data Regulations

According to a recent report by Grand View Research, Inc., the global customer data platform (CDP) market is projected to reach USD 51.95 billion by 2030, growing at a compound annual growth rate (CAGR) of 39.5% from 2024 to 2030. The surge in demand for integrating and storing both structured and unstructured consumer data—automatically sourced from multiple media channels—is significantly driving CDP adoption among B2B and B2C marketers. Additionally, the increasing need to understand these insights to enhance customer lifecycle management further supports market expansion.

At present, companies and marketers gather vast volumes of customer data encompassing demographic, behavioral, and transactional information. This data is often stored across various departments or different organizations, creating challenges related to data tracking and duplication. Moreover, the difficulty in collecting insights across digital platforms for effective customer engagement and conversion underscores the need for a centralized customer data platform capable of consolidating all data into a unified structure.

Unified customer profiles empower marketers to refine their strategies and deliver better customer experiences. While the retail and consumer goods sectors were early adopters of CDPs, their use has steadily expanded across industries such as financial services, travel, IT and telecom, and healthcare. Key growth drivers include the increasing value placed on first-party customer data and the widespread adoption of omnichannel marketing approaches. The integration of AI and machine learning technologies is expected to further accelerate market growth by enabling enterprises to use predictive modeling and other advanced tools for audience targeting and engagement.

The CDP market is also being fueled by a rising number of vendors securing significant funding. In 2018 alone, CDP vendors raised over USD 1.5 billion—a 48% increase in funding compared to the previous year. According to the CDP Institute, the number of vendors grew from 77 in 2018 to 96 by July 2019. These developments suggest a strong trajectory of growth for the CDP market in the coming years.

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Customer Data Platform Market Report Highlights

• Analytics Segment: Growth is driven by increased demand for automating customer segmentation and performing product analysis using predictive modeling and machine learning technologies.
• Retail Segment: Held the largest share of market revenue in 2023, thanks to widespread CDP adoption aimed at boosting customer engagement, loyalty, and experience.
• North America: Dominated the CDP market in terms of revenue in 2023 and is expected to maintain its leading position throughout the forecast period.

Key Players in the Customer Data Platform Market

• Adobe
• Acquia, Inc.
• Ascent360
• BlueConic
• CHEQ AI Technologies Ltd. (Ensighten)
• Lytics, Inc.
• mParticle, Inc.
• NGDATA N.V.
• Oracle
• Salesforce, Inc.
• SAP
• Twilio Inc. (Segment)
• TEALIUM

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