Global CDP Market to Hit $7.2 Billion by 2032
Market research firm Fact.MR projects the global customer data platform (CDP) market to reach $7.2 billion by 2032 while recording a compound annual growth rate of 14 percent, fueled in large part by growing expenditure on marketing and advertising initiatives.
The research firm valued the CDP market at $1.5 billion in 2021 and expects it to hit $1.9 billion in 2022. From 2015 to 2021, the market exhibited a CAGR of 28.1 percent, attributed to the rising proliferation of customer channels.
The increasing importance of real-time and personalized engagement is projected to augment the market between now and 2032, the firm concluded.
Growth is expected to be especially significant in the financial services and insurance sector, which is witnessing a lot of online interaction, it added.
Leading players in the global CDP market are ActionIQ, Adobe, AgilOne, Ascent360, BlueConic, Lytics, mParticle, NGDATA, Oracle, Salesforce, SAP, and Tealium, according to Fact.MR.