Customer Data Platform Market Report and Forecast 2025-2034

The global market for customer data platform reached a value of D 2.82 Billion in 2024. The market is further expected to grow at a CAGR of approximately 21.60% in the forecast period of 2025-2034 to reach a value of around USD 19.93 Billion by 2034, owing to the increasing expenditure on marketing and advertising activities by enterprises.

North America to be a Significant Regional Market for Customer Data Platform

North America is expected to be the largest customer data platform market region due to the increasing technological advancements. The United States is estimated to dominate the market due to significant market players with higher market shares and increased funding for customer data platforms (CDP). Also, the marketers and brands in the region have been the early adopters of CDPs. The growing utilisation of the big data technology, the rising amount of data across verticals, and the increasing investments by companies in data analytics will further propel the growth of the market in North America during the forecast period. Organisations, especially in the United States, use the CDP platform to generate insightful information from structured and unstructured data. Solutions such as customer retention and engagement and personalised recommendations offered by CDP are helping companies remain competitive in the market.

Sectors in the United States, such as BFSI, healthcare, and eCommerce, are rapidly adopting the platform at a higher pace due to the growing inclination toward customer satisfaction and offering better-personalised experiences. For instance, in October 2021, ActionIQ, the United States-based CDP for marketers, analysts, and technologists, announced to expand its CDP into the healthcare sector by accomplishing its compliance audit for Health Insurance Portability and Accountability (HIPAA) Type 1 standards. Such regional initiatives are likely to drive the customer data platform market in North America in the forecast period.

Retail and eCommerce Segment to Drive the Market Growth

During the forecast period, the retail and eCommerce segment is expected to lead the market growth. The need to attract customers, increase customer loyalty, and enhance the shopping experience drives the segment growth. By providing excellent customer experiences through appropriate and consistent communication, the customer data platform assists e-commerce enterprises in converting visitors into loyal customers and long-lasting foster relationships.

Market Segmentations: Customer Data Platform

Customer data refers to behavioural, statistical, and demographic data collected to improve communication, understand customer behaviour, and increase customer engagement for better service/product delivery. Customer data assists firms in developing profitable business strategies to improve customer experience. Customer data platforms enable such businesses to process customer data to consolidate and integrate it into a single database.

The various components in the customer data platform market are:

• Platform
• Services

Based on the deployment model, the market is divided into:

• On-Premises
• Cloud

Based on organisation size, the market is segmented into:

• Large Enterprises
• Small and Medium Enterprises (SMEs)

The significant applications of the market are:

• Personalised recommendations
• Predictive Analytics
• Marketing Data Segmentation
• Customer Retention and Engagement
• Security Management
• Others

The major verticals of the market are:

• BFSI
• Retail and eCommerce
• Media and Entertainment
• Travel and Hospitality
• Telecom and IT
• Healthcare
• Others

The regional markets for customer data platforms can be divided into:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Increased Spending on Marketing and Advertising Activities by Businesses Propelling the Market Growth

Rising expenditure on marketing and advertising activities by organisations is projected to be the key factor propelling the global customer data platform market growth. The market is poised to witness high growth owing to the growing demand for determining consumer buying behaviour across different industries. Also, real-time and personalised data analysis offered by the customer data platform will drive the market growth. The customer data platform provides insights about the customer and its choices when the data is fed into it and helps the organisation engage customers and create a suitable customer experience strategy. Besides this, the growing adoption of account-based marketing among organisations is anticipated to drive the market growth for the customer data platform. Increasing funding and investments by major organisations in such platforms are further contributing to the growth of the market globally. In addition, the changing landscape of customer intelligence, the proliferation of customer channels and automated smart machines to drive consumer experience are all expected to offer opportunities for increased adoption of the customer data platform.

Key Players in the Global Market for Customer Data Platform

The report gives a detailed analysis of the following key players in the global customer data platform market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Oracle Corporation
• SAP SE
• Adobe Inc.
• Microsoft Corporation
• SAS Institute Inc
• Others

The comprehensive report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.