Data Management Platform Market Research Report by Forecast to 2023
Posted by Kiran on February 18th, 2020
Data Management Platform Market Overview:
The global market for data management platform can attain a valuation of approximately USD 3 billion by the end of 2023, asserts Market Research Future (MRFR). In addition, the market can potentially achieve an approximate CAGR of 15 % during the forecast period, which is from 2017 to 2023.
Given the surge in ad technology, advertisers mainly focus on buying media across a broad range of sites and via several middlemen. The chief advantage of data management platform includes its ability to connect all the advertiser’s activities with the audience data as well as well as the resulting campaign into a single consolidated location. It then makes use of the data to enhance future media buys along with ad creative. Therefore, data management platform is in high demand amongst the agencies, publishers and marketers.
The increase in digital marketing affects the growth of the Data Management Platform (DMP) Market Shareto a large extent. The advertising and marketing agencies have become extremely competitive in the past couple of years, leading to higher personalization of ads to numerous target markets. This has resulted in the high adoption of DMPs across many agencies. DMPs are able to swiftly unify data from various sources and segregate the users to multiple categories on the basis of their behavior pattern. This kind of intuitiveness has boosted the demand for DMPs among the marketers.
Furthermore, a variety of sources of first party data are on the rise, such as data collected from automobile, TV set-top boxes, and wearable technology. Thus, Internet of Things (IoT) is one of the chief factors inducing market growth across the globe.
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Global Leading Companies
The worldwide market for Data Management Platform is made of a number of leading players as well as several emerging companies, including Lotame Solutions Inc (U.S.), KBM Group LLC (U.S.), Rocket Fuel, Inc (U.S.), Krux Digital Inc (U.S.), Oracle Corporation (U.S.), Neustar, Inc (U.S.), SAS Institute (U.S.), SAP SE (Germany), Adobe Systems Inc (U.S.), Cloudera Inc (U.S.), Turn Inc (U.S.), Informatica (U.S.). to name a few.
DMP Market Segmentation:
The market segmentation for data management platform includes data type, data source, and end users.
The data types mentioned in the report are first party, second party and third party data. From these, the first party data segment is considered to be the most valuable since the source of data collection is directly connected to the brand. These are either the present customers or potential customers. Marketers make extensive use of this type of data for converting the potential users into existing customers. The first party data is leading the current market, whereas the third party data share segment can note better growth in the near future.
Data source-wise, the data management market is divided into mobile web, web analytics tools, CRM data, mobile apps, social networks and POS data, among others. Out of these, mobile apps, web analytics tools, POS data and Social network form the largest market.
The data management platform market end-users are marketers, publishers and ad agencies.
Data Management Platform Market Regional Insight:
The market for data management platform is regionally segmented into Europe, North America, Asia Pacific (APAC) and the Rest of the World (RoW).
North America has the highest potential to gain the top position in the global data management platform market in the coming years. The regional market’s sound growth is due to the presence of favorable macro and micro economic factors as well as a large pool of well-known players, who contribute to the development of modern technologies.
APAC is the second largest data management platform market thanks to the proliferation of the online marketing business and the rising number of marketing, publishing and ad agencies. Sizeable investments made by the players in the advancement of DMP systems can help with the market growth. India along with China and Japan are the most lucrative markets for DMP in the region.
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About the AuthorKiran
Joined: October 18th, 2019
Articles Posted: 184
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