The Europe Customer Data Platform Market would witness market growth of 33% CAGR during the forecast period (2021-2027).
A customer data platform refers to a software that can aggregate and arrange customer data across several touchpoints and is utilized by other software, systems, and marketing initiatives. By using CDP, companies can easily gather and organize real-time data into individual, centralized customer profiles. Moreover, it is a type of database software that is helpful in developing constant, unified records of all the customers, their characteristics, and their data. An ideal customer data platform is capable of combining the available data and enable simple extraction of the data it saves.
All the customer data is extremely organized and available for instant utilization. Some technical knowledge is required to install and maintain the CDP; however, it doesn’t need a high degree of technical competence, unlike a conventional data warehouse. Data gathered and structured with a CDP is visualized through data profiles for every user. This comprehensive view of the customer is feasible because of the centralized located customer data.
In Europe, customer data platforms are gaining attention across various data-driven marketers. CDP gathers customer data from various sources and integrates it with a combined customer database, which is open for use and gets connected to other systems. In addition, the European CDP market has witnessed a swift upsurge in its growth in the past couple of years. Moreover, a steady shift of market is witnessed from access vendors to campaign vendors but the growth witnessed a slowdown for a short period as analytics vendors gained the attention. This shift exhibit that varied types of customer data platforms that are achieving success across varied customer groups.
Based on the latest update by CDP Institute, the CDP market has significantly boosted in the past few years including the huge investment in the CDP market. Further, a campaign is significantly enhanced by making use of the CDP and the enterprises could learn & enhance their efforts for another campaign. Thus, it is anticipated that the demand for customer data platforms is surging in this region, thereby fueling the growth of the customer data platform market.
The Germany market dominated the Europe Customer Data Platform Marketing Data Segmentation Market by Country 2020, thereby, achieving a market value of $236.9 million by 2027. The UK market is exhibiting a CAGR of 33.1% during (2021 - 2027). Additionally, The France market is poised to witness a CAGR of 35% during (2021 - 2027).
Based on Component, the market is segmented into Platform (Without Services) and Services. Based on Application, the market is segmented into Personalized Recommendations, Predictive Analytics, Marketing Data Segmentation, Customer Retention & Engagement, Security Management and Others. Based on Deployment Type, the market is segmented into On-premise and Cloud. Based on Enterprise Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Based on End User, the market is segmented into BFSI, Retail & eCommerce, Media & Entertainment, Healthcare, Travel & Hospitality, Telecom & IT and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Customer Data Platform Market Size will Hit $20.5 Billion by 2027, at a CAGR of 34%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include SAP SE, Oracle Corporation, Microsoft Corporation, Adobe, Inc., Salesforce.com, Inc., Teradata Corporation, Totango, Ltd., Upland Software, Inc., Acquia, Inc. and SAS Institute, Inc.
By Component
By Application
By Deployment Type
By Enterprise Size
By End User
By Country
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