Data Management Platform Market Size was valued at 3.1 USD billion in 2023. The Data Management Platform market industry is projected to grow from USD 3.4 billion in 2024 to USD 9.4 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 13.50% during the forecast period (2024 - 2032).The massive rise in need for the detailed information about the targeted customer so that based on his activities, choices and likes, specific products and services can be delivered to them.
Figure 1:Â Data Management Platform Market Size, 2024-2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Data management platforms collect large amount of data of customers using numerous services and products in their day to day lives. This data is being stored by users such as marketers, ad agencies and publishers so that they can create a profile of users which contains their likes, activities and their choices for products and services. Such profiles are personalized for each and every user and then strategically using these profiles numerous advertisements related to services and products are pushes to the customers using internet ads, social media platforms such as Instagram and Facebook and various search engines such as chrome. Thus, ad agencies and marketers are making use of habits, likes and choices of customers by identifying, storing and analyzing the data stored in data management platforms and generating business for them. After analyzing their habits and behaviors, personalized content such as products which they want and services they are looking for. Thus, such profiles are created for each and every customer and the data for every customer is being stored in data management platforms. Using the data, personalized ads are pushed to the customers and then it helps them in gaining business and helps in converting those profiles into customers.
Once the choices of customers are known to the users such as ad agencies, they can explore the features stores in the database and send personalized ads and content for the customers. thus, it helps customers also to purchase necessary products that they want and there is no need for them to explore other products as DMPs provides personalized products. Thus, it helps in customer retention and helps in gaining higher returns on investments.
Figure 2:Data Management Platforms MARKET SIZE (USD MILLION) data types 2023 VS 2032
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Figure 3:Data Management Platforms MARKET SIZE (USD MILLION) data source 2022 VS 2032
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Figure 4:DATA MANAGEMENT PLATFORMS MARKET SIZE (USD MILLION) End user 2022 VS 2032
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
By Region, the study segments the market into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. North America is expected to have the largest share of the overall Data Management Platforms market.
Organization in the North American region are the first ones to use Data Management Platforms for providing services and solutions to the ad agencies and marketers across the globe. For instance, in 2022, north America is expected to have 34.3% of the global revenue share of the market. The presence of players like Adobe, Oracle Bluekai and others are expected to be the driving factors for the data management platform market in the region. Because of rise in the number of online customers and internet penetration in the north American region, the market in the region is expected to grow.
Also, Europe is expected to have 24.8% of the total share of market in 2022. Because of growing mobile data subscription and massive rise in internet usage, the market is expected to grow in the European region. According to International Telecommunication Union, Europe has the highest usage of internet which amounts to 82% of the total population in the region using internet as in 2019. From year 2013, it has witnessed 57% rise in mobile data subscription. Â
Further, the countries considered in the scope of the Data Management Platforms market are the US, Canada, Mexico, UK, Germany, France, Italy, Spain, Switzerland, Austria, Belgium, Denmark, Finland, Greece, Hungary, Italy, Luxembourg, Netherlands, Norway, Poland, Portugal, Slovakia, Sweden, Romania, Ireland, China, Japan, Singapore, Malaysia, Indonesia, Philippines, South Korea, Hong Kong, Macau, Singapore, Brunei, India, Australia & New Zealand, South Africa, Egypt, Nigeria, Saudi Arabia, Qatar, United Arab Emirates, Bahrain, Kuwait, and Oman, Brazil, Argentina, Chile, and others.
Figure 5:Data Management PlatformsMARKET SIZE (USD MILLION) REGION 2022 VS 2032
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Major market players are spending a lot of money on R&D to increase their product lines, which will help the Data Management Platforms market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, including new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Data Management Platforms industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.
March 2022 Oracle Corporation announced that Oracle Unity Customer Data Platform- which is an enterprise grade data platform that powers next generation adtech strategies and enables marketers to unify customer data for segmentation. It is also used for providing hyper personalized experience. Thus oracle has unified AdTech and martech into one unit. The company has done so by using design principles of marketing and advertising products around first party data. Thus improved data management capabilities are used to compliment systems of customer record and help marketers gain cost efficiencies.Â
September 2019 Oracle Corporation has announced that they have integrated Bluekai and ID graph with CX unity. The company has integrated Bluekai data management platform DMP and ID graph with its customer data platform. This step is aimed to help marketers tie device level data about unknown prospects to their customers data and receive insights about marketing techniques and ad techniques. this step is going to allow customers to deliver personalization at a whole new level.
March 2023 Adobe Corporation at Adobe Summit in New Delhi announced that they have launched Adobe product analytics in adobe experience cloud. The tool unifies customer journey insights across marketing and products. Using the tool, customer experience teams can now look deeply across marketing and products insights for a single customer view.
March 2023 Adobe Corporation announced at Adobe Summit in New Delhi announced that they have launched new innovations in Adobe Experience manager which is a leading Data Management Platform DMP. The new release will deliver next generation features that bring speed and makes it easy for content developments and publishing higher quality web experiences and AI powered data insights that help organizations to optimize new content for the targeted audiences.
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