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Customer Data Platform Market Exhibits 25.4% CAGR to Reach USD 6.94 Billion by 2029

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Pune, India, Feb. 14, 2023 (GLOBE NEWSWIRE) — The global customer data platform market size was valued at USD 1.16 billion in 2021. The market is projected to grow from USD 1.42 billion in 2022 to USD 6.94 billion by 2029, exhibiting a CAGR of 25.4% during the forecast period. North America dominates the global market at USD 732.6 million in 2021. Fortune Business Insights™ published this information in its recent report, titled “Customer Data Platform Market Forecast, 2023-2029.”

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Key Industry Development

Amperity entered into a partnership with Persado to augment marketing-led revenues, higher conversion rates on click-throughs and open rates, and lower customer acquisition costs across all marketing channels.

Tealium, Inc. and Invoca Inc. announced a strategic partnership to help organizations with customer data and real-time analytics.

Report Scope & Segmentation

Report Coverage Details
Forecast Period 2022 to 2029
Forecast Period 2022 to 2029 CAGR 25.4%
2029 Value Projection USD 6.94 Billion
Base Year 2021
Market Size in 2021 USD 1.16 Billion
Historical Data for 2018 to 2020
No. of Pages 160
Segments covered Component, Deployment, Type, Industry and Geography

Key Takeaways:

  • Customer Data Platform Market Size in North America was 732.6 million in 2021
  • Major driving factors include growing Adoption of AI and Machine Learning
  • By Deployment, cloud-based segment has the largest share in the global market.
  • Global demand is driven by retail and e-commerce industry
  • BFSI end-users will drive the market in the forecast period, 2023-2029


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Drivers & Restraints-

Growing Adoption of AI and ML to Fuel Market Growth

  • The global customer data platform (CDP) market is expected to experience significant growth due to the increasing use of real-time personalized data analysis to devise effective marketing strategies.
  • The BFSI sector is also contributing to the growth of the market by using digital platforms to communicate with customers, highlighting the importance of customer relationship management and satisfaction.
  • Furthermore, the adoption of machine learning (ML) and artificial intelligence (AI) is projected to further enhance market growth.
  • CDPs powered by AI can analyze consumer behavior to suggest the best products, indicating that advanced intelligence and data analysis will be key drivers of the market’s growth in the future.

Expanding Penetration of Personalization & Demand from BFSI Sector to Bolster Business Outlook

  • The global trend towards personalization is expected to be driven by the demand for real-time engagement, particularly from the younger generations such as Millennials and Gen Z, who seek customized data solutions and services.
  • The BFSI sector is expected to drive the growth of the customer data platform market, with stakeholders expected to invest in the industry due to the increasing demand for online client services, especially since the COVID-19 pandemic.
  • However, privacy concerns could pose a threat to the industry’s growth during the forecast period.

Segments

Component, Deployment, Type, Industry, and Region are Studied

In terms of component, the market is segregated into services and platform.

Based on deployment, the industry is segmented into on-premises and cloud.

With respect to type, the market is fragmented into campaign, analytics, and access.

On the basis of industry, the market is segmented into travel hospitality, banking, financial services and insurance (BFSI), information technology (IT) and telecom, retail and e-commerce, healthcare, travel and hospitality, media and entertainment, and others.

With regards to region, the industry is segmented into North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa.

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Regional Insights

North America to Further Investments in Data Platform with Rising Demand from End-Users

The U.S. and Canada are expected to witness an influx of funds into data platform analytics and access solutions during the assessment period. The presence of leading companies will solidify the position of the North America market. Prominently, the growing footfall of retailers, healthcare, and BFSI sectors will bode well for the business outlook.

Industry participants expect the Europe customer data platform market growth to witness notable traction due to the presence of leading vendors across the U.K., France, and Germany. Moreover, the implementation of GDPR has accentuated regional growth. Stakeholders expect cloud and on-premise deployment models to gain traction in the ensuing period.

The Asia Pacific industry forecast will be strong following the burgeoning internet penetration across China, India, and Australia. Furthermore, BSFI, healthcare, and e-commerce sectors have shown profound traction for customer data platform services, boding well for the business outlook. Stakeholders expect data analytics, Big Data, and digitization to encourage investments across the region.

Competitive Landscape

Stakeholders to Invest in Partnerships to Tap Markets

Major players are poised to infuse funds into product launches, mergers & acquisitions, technological advancements, and R&D activities. Prevailing trends suggest leading companies are slated to focus on geographical expansion during the forecast period.

List of Key Players in customer data platform market:

  • Salesforce.com, Inc. (California)
  • Exponea s.r.o. (Bratislava)
  • Segment.io, Inc. (California)
  • Optimove Inc. (New York)
  • Oracle Inc. (Texas)
  • Leadspace, Inc. (California)
  • Ignitionone.com (New York)
  • Kabbage Inc. (Radius Intelligence) (Georgia)
  • Tealium Inc. (California)
  • CaliberMind (Colorado)

Quick Buy – Customer Data Platform Market Research Report

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Major Table of Contents:

  • Global Customer Data Platform Market Size Estimates and Forecasts, By Segments, 2018-2029
    • Key Findings
    • By Component (USD)
      • Platform
      • Services
    • By Deployment (USD)
      • On-Premises
      • Cloud
    • By Type (USD)
      • Access
      • Analytics
      • Campaigns
    • By Industry (USD)
      • Banking, Financial Services and Insurance (BFSI)
      • Retail and E-commerce
      • Information Technology (IT) and Telecom
      • Media and Entertainment
      • Travel and Hospitality
      • Healthcare
      • Others (Government and Education)
    • By Region (USD)
      • North America
      • Europe
      • Asia Pacific
      • Middle East & Africa
      • Latin America
  • North America Customer Data Platform Market Size Estimates and Forecasts, By Segments, 2018-2029
    • Key Findings
    • By Component (USD)
      • Platform
      • Services
    • By Deployment (USD)
      • On-Premises
      • Cloud
    • By Type (USD)
      • Access
      • Analytics
      • Campaigns
    • By Industry (USD)
      • Banking, Financial Services and Insurance (BFSI)
      • Retail and E-commerce
      • Information Technology (IT) and Telecom
      • Media and Entertainment
      • Travel and Hospitality
      • Healthcare
      • Others (Government and Education)
    • By Country (USD)
      • United States
      • Canada

TOC Continued…!

FAQs

How big is the customer data platform market?

Customer data platform market size was USD 1.16 billion in 2021.

How fast is the customer data platform market growing?

The customer data platform market will exhibit a CAGR of 25.4% during the forecast period, 2022-2029

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Customer Experience Management Market Size, Share, Revenue Forecast and Opportunities

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Artificial Intelligence Market Size, Share, Opportunities & Analysis

Internet of Things Market Analysis, Size, CAGR and Demand Forecast

About Us:

Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

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Email: [email protected]

GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Artificial Intelligence

Elevate Your Virtual Reality Experience with KIWI design RGB Vertical Stand, Now Available on Meta’s Website

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LOS ANGELES, May 11, 2024 /PRNewswire/ — Top-tier VR accessories provider KIWI design has launched its latest product, the RGB Vertical Stand. This Meta-authorized accessory, designed to deepen users’ immersion in the metaverse, is now available on the official Meta website.

“KIWI design’s commitment to pushing the boundaries of virtual reality accessories takes another leap forward with the introduction of our new products,” said Ray,the CEO of KIWI design. “We are always dedicated to bringing innovative upgrades to VR device accessories, with the goal of enriching users’ virtual reality experiences.”
The newly launched RGB Vertical Stand features a user-friendly modular design with push-in assembly, making it easy to set up and use. It is compatible with Meta Quest 3, Quest 2, and Quest Pro, ensuring widespread usability. With a magnetic USB Type-C connector, it provides an effortless way to charge and display your headset. Users can also customize their display with 16 pre-set ambient multicolor RGB light options.
With VR technology constantly evolving, users are seeking more immersive experiences. As a leading manufacturer of VR accessories, KIWI design is committed to enhancing the user experience, through unique product designs. Since its establishment in 2015, KIWI design has acquired over 100 patents and has a diverse product lineup, including head straps, facial interfaces, VR stands, charging accessories, and controller grip covers.
KIWI design has also actively participated in the Made for Meta program, which is provided by Meta to strengthen its partnerships with leading brands to deliver accessories that enhance Meta products with more choice and a richer experience for everyone. KIWI design’s participation in this program validates its high-quality design standards.
The RGB Vertical Stand for Meta Quest 3, Quest 2, and Quest Pro and another specially designed authorized charging dock for the Meta  Oculus Quest 2 are now available for purchase on both KIWI design’s website and Amazon. For more information about our brand and products, please visit our website and follow KIWI design on Facebook, Instagram, X, YouTube and TikTok.
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https://www.instagram.com/kiwidesignins/

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WIO Taps Gracenote to Revolutionize Television Broadcast Reporting

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LOS ANGELES, May 11, 2024 /PRNewswire/ — WIO LLC, parent company of the global TV broadcast airings platform, WIOpro™, has announced a new strategic agreement with Gracenote, the global content data business unit of Nielsen, to address the longstanding challenge of accurately tracking and collecting music royalties generated by broadcast television and digital programming, With this agreement, WIO will integrate Gracenote TV program metadata and show airings into its WIOpro™ (“When’s It On – Professional”) platform enabling performance rights organizations, copyright management organizations and other entities to better monitor broadcast schedules and identify when royalties have been earned.

By integrating Gracenote historical program data into WIOpro’s new LookBack™ feature, WIO is enhancing its reporting capabilities and empowering Collection Societies, Rights Management Companies and the royalty-earning community to more easily monitor and export broadcast airings and better understand collections opportunities.
“At WIO, we are committed to empowering collection societies and copyright holders around the world with our platform tools and unprecedented access to the best and most accurate television broadcast and streaming data available,” said Shawn Pierce, Co-Founder and CEO of WIO LLC. “We have enjoyed an incredible relationship with Gracenote for 10 years. With the solidification of this agreement, we are able to deliver an unrivaled dataset to the royalty and residual community in a way that has not been offered before.” said Adam Shafron, Co-Founder and CTO of WIO LLC.
“WIO’s platform developed to solve the difficult matter of royalty tracking only becomes more powerful based on the integration of accurate, timely and comprehensive Gracenote metadata,” said Scott Monahan, Director, Strategic Partnerships, Gracenote. “We look forward to the combination of WIOpro’s technology and Gracenote’s program metadata delivering on the promise of transforming music royalty collection so that rights holders can be fairly compensated for use of their work.”
WIO and Gracenote will be at the MusicBiz 2024 conference in Nashville, TN May 13 – 16. Contact Dave Pelman, COO of WIO LLC at [email protected] for media queries or to book an appointment for a product demonstration.
About WIO:WIO is a technology company dedicated to providing broadcast television and digital programming data tailored specifically for the royalty and residual collection industry. Through its platform WIOpro (wiopro.com), users obtain access to real-time broadcast insights, reporting and curated data delivery.
About Gracenote:Gracenote is the content data business unit of Nielsen providing entertainment metadata, connected IDs and related offerings to the world’s leading creators, distributors and platforms. Gracenote enables advanced content navigation and discovery capabilities helping individuals easily connect to the TV shows, movies, music, podcasts and sports they love while delivering powerful content analytics making complex business decisions simpler.
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IDTechEx Explores Printed Electronics in Electrified and Autonomous Mobility

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BOSTON, May 10, 2024 /PRNewswire/ — Electrification, autonomy, and vehicle ownership saturation are causing a technological revolution in the automotive sector. These automotive meta-trends are driving drastic changes in electronic component requirements and present a high-volume opportunity for printed electronics to capitalize on.

Historically, printed electronics technologies have nurtured a close relationship with the automotive sector, with printed force sensors pioneering passenger safety through seat occupancy and seatbelt detection. As such, the automotive sector continues to represent the lion’s share of the global printed and flexible sensor market, which IDTechEx’s report on the topic evaluates as worth US$421M in 2024. However, if the automotive sector is to continue to be a reliable revenue stream, printed electronics technology providers must adapt to address the emerging technical challenges facing future mobility.
Augmenting autonomous vehicles with printed electronics
As vehicle autonomy levels advance, the increasing number and distribution of spatial mapping sensors required will need continuous performance improvements to ensure passenger safety. Emerging printed electronics technologies can augment these sensors, extending detection bandwidth and maximizing reliability during operation.
Transparent conductive films (TCFs) are being developed to heat and defog LiDAR sensor panels, ensuring the function is unperturbed by external environmental conditions. Properties such as high transparency and low haze are important for defogging. These properties can be easily tuned using the wide variety of material options available for TCFs, including carbon nanotubes and silver nanowires.
IDTechEx identifies printed heating as a leading application of transparent conductive films. This is attributed to diminishing growth prospects in capacitive touch sensing applications. Innovations in thin film coating techniques have enabled indium tin oxide (ITO) to dominate touch sensing applications, all but displacing TCFs completely.
Looking towards the future, printed electronics technologies could play a more active role in advanced autonomous driving. Emerging semiconductive materials, such as quantum dots, printed directly onto conventional silicon image sensor arrays can extend detection range and sensitivity deeper into the infrared region. Augmenting existing image sensor technology with enhanced spectral range could facilitate the competition of hybrid silicon sensors with established InGaAs detectors.
Printed sensors promise granularized battery health monitoring
Vehicle electrification is driving the sustained development and evolution of electronic management systems, particularly in the battery and electric drivetrain. A strong market pull exists for technologies that increase vehicle efficiency, range, and lifetime while reducing recharge times.
Printed pressure and temperature sensors measure battery cell swelling and thermal profiles, providing granularized physical data that can be used to optimize battery deployment and recharging. Moreover, hybrid printed sensors that combine integrated printed heating elements promise a solution to actively address battery temperature. IDTechEx estimates that printed sensor-enabled battery deployment and charging optimizations could be worth up to US$3000 in savings per vehicle.
There remains uncertainty about whether electrification trends will correspond to increased demand for physical sensors in electric vehicle batteries, owing to the utility of existing electronic readouts for managing deployment. Virtual sensors also pose a threat, where AI-enabled software models interpret data to predict and emulate physical sensor functions without the need for discreet components. However, emerging regulations regarding safety and sensor redundancy will likely favor measurable metrics and see automotive makers continue to adopt physical sensors. IDTechEx predicts that virtual sensors are unlikely to displace their physical counterparts – so long as low-cost sensors remain widely available.
Embedding printed electronics in the car of the future
IDTechEx predicts that global car sales will saturate over the next decade, with automakers increasingly looking for premium features and technical innovations to differentiate themselves from the competition. In-cabin technologies will be highly desirable – as the location where passengers reside and interact with the vehicle the most.
Lighting elements are emerging as a prominent differentiator, described as “the new chrome” by Volkswagen’s chief designer. The use of in-mold structural electronics (IMSE) enables the integration of embedded lighting elements using existing manufacturing processes. 3D electronics technologies are intrinsically attractive for automotive integration, as functional layers are conformable and lightweight while easily embedded within existing aesthetic elements.
Despite strong tailwinds, the adoption of in-mold electronics within automotive interiors has been sluggish. This is attributed to the challenges of meeting automotive qualification requirements, as well as stiff competition with less sophisticated alternatives such as applying functional films to thermoformed parts. Nevertheless, momentum is building, with technology providers like Tactotek partnering with Mercedes-Benz and Stallantis to progress the automotive validation of IMSE to TRL5.
Outlook for printed electronics in automotive applications
Just as printed force sensors heralded early passenger safety systems, printed electronics technology is poised to underpin next-generation innovations for the car of the future. But this time, the competition will be stiff. Critical cost requirements must be met, while desirable new functionality must address existing challenges faced by manufacturers. Printed electronics can play a role in supporting emerging electrified and autonomous mobility, such as augmenting LiDAR sensors or optimizing electric battery deployment. Demand for technologies that enhance passenger experience and vehicle aesthetics will continue to grow, and printed electronics can supply low-power, lightweight lighting solutions for these.
Sustained engagement from tier suppliers and manufacturers continues to make the automotive sector key to printed sensor market growth opportunities – a total market IDTechEx predicts will reach US$960M by 2034. Strong partnerships between material providers and printed electronics technology providers are complementary to those of the highly vertically integrated automotive value chains between tier suppliers and OEMs. Leveraging printing techniques to provide solutions that slot into existing manufacturing processes and designs will be crucial. In the medium term, the printed electronics technologies most likely to realize revenue potential are those that can adapt to service emerging challenges already known to the automotive industry.
For more information on IDTechEx’s research on this topic, please see their report, “Printed and Flexible Sensors 2024-2034: Technologies, Players, Markets”. Downloadable sample pages are available for this report.
For the full portfolio of printed and flexible electronics market research from IDTechEx, please visit www.IDTechEx.com/Research/PE.
About IDTechEx:
IDTechEx provides trusted independent research on emerging technologies and their markets. Since 1999, we have been helping our clients to understand new technologies, their supply chains, market requirements, opportunities and forecasts. For more information, contact [email protected] or visit www.IDTechEx.com. 
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