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Customer Data Platform Market Size 2024-2028

The customer data platform market size is forecast to increase by USD 19.02 billion at a CAGR of 32.12% between 2023 and 2028.

The customer data platform (CDP) market is experiencing significant growth due to several key trends. The increasing demand for personalized customer services in various industries, particularly e-commerce retail, is driving market growth. This trend is being fueled by the rising preference for omnichannel platforms that enable seamless customer interactions across multiple touchpoints. Additionally, the need to address customer data privacy concerns is another major factor contributing to the market's growth.
As businesses strive to provide more personalized experiences to their customers while ensuring data security, CDPs and workforce analytics are becoming an essential tool for managing and activating customer data in real time. This CDP market analysis report provides a comprehensive examination of these trends and other growth factors, offering valuable insights for businesses looking to leverage CDPs to enhance their customer engagement strategies.

What will be the Size of the Customer Data Platform Market During the Forecast Period?

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The customer data platform (CDP) market is experiencing significant growth due to the increasing importance of customer intelligence for delivering omnichannel experiences. Businesses seek to understand their customers across multiple channels and touchpoints, requiring the ability to handle large volumes of complex data. CDP solutions enable data unification and identity resolution, ensuring accurate and consistent customer profiles. Data governance and privacy laws are driving the need for robust data protection and security measures, including data breach prevention and compliance with regulations such as GDPR and CCPA.
Additionally, AI and machine learning are being integrated into CDPs to enhance data analytics capabilities, providing valuable insights for industries like healthcare, telecom, travel and hospitality, and advertising.
The customer data platform market is evolving with AI-powered CDP solutions enhancing real-time data processing, customer data integration, and omnichannel marketing. Businesses focus on data privacy compliance and first-party data management to drive predictive analytics, customer segmentation, and personalized marketing. Cloud-based CDP adoption supports customer journey analytics, CDP for e-commerce, and cross-channel data activation. Data monetization strategies, identity resolution, and enterprise CDP solutions fuel CDP market growth, enabling data-driven customer insights and customer retention strategies.
Big data and real-time data processing are essential features, enabling businesses to make informed decisions and respond quickly to customer needs.

How is this Customer Data Platform Industry segmented and which is the largest segment?

The customer data platform industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Deployment

  On-premises
  Cloud based


End-user

  Large enterprises
  Small and medium size enterprises


Geography

  North America

    US


  Europe

    Germany
    UK


  APAC

    China
    Japan


  South America



  Middle East and Africa

By Deployment Insights

The on-premises segment is estimated to witness significant growth during the forecast period.

The on-premises the market is experiencing substantial growth due to its ability to process and personalize customer data while maintaining data security within an organization's data centers or servers. On-premises CDPs offer customizable solutions tailored to specific business needs and unique data processing workflows, which may not be available in cloud-based alternatives. However, the need to upgrade hardware for data scalability is a consideration for on-premises CDPs. Key features of on-premises CDPs include data unification, identity resolution, data governance, data privacy, and data security. These platforms enable organizations to comply with data privacy laws, protect against data breaches, and address consumer concerns.

On-premises CDPs are particularly valuable for industries with large data volumes and complexities, such as advertising, healthcare services, telecom, media and entertainment, retail, and travel and hospitality. Integration with mobile devices, Short Message Service, and communication channels is essential for providing a seamless omnichannel experience. Machine learning and natural language processing technologies enhance data analysis and personalization capabilities. Cloud-based technology offers flexibility and cost savings, but on-premises CDP

Envestnet®| Yodlee®'s Online Purchase Data (Aggregate/Row) Panels consist of de-identified, near-real time (T+1) USA credit/debit/ACH transaction level data – offering a wide view of the consumer activity ecosystem. The underlying data is sourced from end users leveraging the aggregation portion of the Envestnet®| Yodlee®'s financial technology platform.

Envestnet | Yodlee Consumer Panels (Aggregate/Row) include data relating to millions of transactions, including ticket size and merchant location. The dataset includes de-identified credit/debit card and bank transactions (such as a payroll deposit, account transfer, or mortgage payment). Our coverage offers insights into areas such as consumer, TMT, energy, REITs, internet, utilities, ecommerce, MBS, CMBS, equities, credit, commodities, FX, and corporate activity. We apply rigorous data science practices to deliver key KPIs daily that are focused, relevant, and ready to put into production.

We offer free trials. Our team is available to provide support for loading, validation, sample scripts, or other services you may need to generate insights from our data.

Investors, corporate researchers, and corporates can use our data to answer some key business questions such as: - How much are consumers spending with specific merchants/brands and how is that changing over time? - Is the share of consumer spend at a specific merchant increasing or decreasing? - How are consumers reacting to new products or services launched by merchants? - For loyal customers, how is the share of spend changing over time? - What is the company’s market share in a region for similar customers? - Is the company’s loyal user base increasing or decreasing? - Is the lifetime customer value increasing or decreasing?

Additional Use Cases: - Use spending data to analyze sales/revenue broadly (sector-wide) or granular (company-specific). Historically, our tracked consumer spend has correlated above 85% with company-reported data from thousands of firms. Users can sort and filter by many metrics and KPIs, such as sales and transaction growth rates and online or offline transactions, as well as view customer behavior within a geographic market at a state or city level. - Reveal cohort consumer behavior to decipher long-term behavioral consumer spending shifts. Measure market share, wallet share, loyalty, consumer lifetime value, retention, demographics, and more.) - Study the effects of inflation rates via such metrics as increased total spend, ticket size, and number of transactions. - Seek out alpha-generating signals or manage your business strategically with essential, aggregated transaction and spending data analytics.

Use Cases Categories (Our data provides an innumerable amount of use cases, and we look forward to working with new ones): 1. Market Research: Company Analysis, Company Valuation, Competitive Intelligence, Competitor Analysis, Competitor Analytics, Competitor Insights, Customer Data Enrichment, Customer Data Insights, Customer Data Intelligence, Demand Forecasting, Ecommerce Intelligence, Employee Pay Strategy, Employment Analytics, Job Income Analysis, Job Market Pricing, Marketing, Marketing Data Enrichment, Marketing Intelligence, Marketing Strategy, Payment History Analytics, Price Analysis, Pricing Analytics, Retail, Retail Analytics, Retail Intelligence, Retail POS Data Analysis, and Salary Benchmarking

1. Investment Research: Financial Services, Hedge Funds, Investing, Mergers & Acquisitions (M&A), Stock Picking, Venture Capital (VC)

2. Consumer Analysis: Consumer Data Enrichment, Consumer Intelligence

3. Market Data: AnalyticsB2C Data Enrichment, Bank Data Enrichment, Behavioral Analytics, Benchmarking, Customer Insights, Customer Intelligence, Data Enhancement, Data Enrichment, Data Intelligence, Data Modeling, Ecommerce Analysis, Ecommerce Data Enrichment, Economic Analysis, Financial Data Enrichment, Financial Intelligence, Local Economic Forecasting, Location-based Analytics, Market Analysis, Market Analytics, Market Intelligence, Market Potential Analysis, Market Research, Market Share Analysis, Sales, Sales Data Enrichment, Sales Enablement, Sales Insights, Sales Intelligence, Spending Analytics, Stock Market Predictions, and Trend Analysis

Data Broker Service Market Outlook

The global data broker service market size is projected to grow from USD 250 billion in 2023 to an estimated USD 450 billion by 2032, reflecting a compound annual growth rate (CAGR) of 6.7%. This substantial growth can be attributed to increasing digitalization, the exponential rise of data-driven decision-making across industries, and the growing realization of the value derived from data analytics. As businesses continue to recognize the potential of leveraging consumer, business, financial, and health data, the demand for data brokerage services is poised to expand significantly.

One of the primary growth factors for the data broker service market is the increasing importance of data in driving business strategies and operations. Companies are increasingly relying on consumer and market data to gain insights into market trends, consumer behavior, and competitive landscapes. This surge in data utilization across sectors such as retail, healthcare, and finance is propelling the demand for data brokerage services that can provide accurate and comprehensive data sets. The proliferation of digital platforms and the Internet of Things (IoT) has further amplified the volume of data generated, thus boosting the need for efficient data brokerage services.

Moreover, advancements in artificial intelligence (AI) and machine learning (ML) technologies are significantly contributing to the market's growth. These technologies enable enhanced data analysis, predictive analytics, and real-time decision-making, making data brokerage services more valuable. Businesses are increasingly investing in AI and ML to analyze large datasets more efficiently and extract actionable insights. Data brokers, in turn, are leveraging these technologies to offer more sophisticated and tailored data solutions, thus attracting a broader customer base.

Privacy regulations and data protection laws are also playing a crucial role in shaping the data broker service market. While these regulations pose challenges, they also create opportunities for compliant data brokers to differentiate themselves in the market. Companies are more inclined to partner with data brokers that demonstrate robust data governance practices and adhere to regulatory requirements. This trend is driving the market towards more ethical and transparent data brokerage practices, increasing the trust and credibility of data brokers among businesses and consumers alike.

The regional outlook for the data broker service market highlights North America as a dominant player, primarily due to the high adoption of data-driven strategies among businesses and the presence of major data brokerage firms. Europe follows closely, driven by stringent data protection regulations like GDPR, which necessitate secure and compliant data handling. The Asia Pacific region is expected to witness the fastest growth, fueled by the rapid digital transformation in countries like China and India and the increasing use of data analytics in various industries. Latin America and the Middle East & Africa regions are also showing promising growth, supported by the rising awareness of data's strategic value and increasing investments in data analytics infrastructure.

Data Type Analysis

The data broker service market by data type comprises consumer data, business data, financial data, health data, and other categories. Consumer data is one of the most significant segments within this market. This type of data includes information on consumer behavior, preferences, purchasing patterns, and demographics. Businesses leverage consumer data to tailor their marketing strategies, enhance customer experiences, and drive sales growth. The increasing use of digital platforms for shopping, social interaction, and information consumption is continually generating vast amounts of consumer data, thereby fueling the demand for consumer data brokerage services.

Business data, encompassing company profiles, industry trends, and competitive intelligence, is another vital segment. Organizations require business data to strategize market entry, expansion, and competitive positioning. Data brokers play a crucial role in aggregating and providing actionable business insights that help companies navigate complex market dynamics. The rise of global trade, the need for cross-border business intelligence, and the growing importance of data-driven decision-making in corporate strategies are driving the demand for business data brokerage services.

Financial data is crucial for sectors like banking, fina

According to Cognitive Market Research, the global Customer Intelligence Platform Market will be USD 2021.1 million in 2024 and expand at a compound annual growth rate (CAGR) of 24.9 % from 2024 to 2031. Market Dynamics of Customer Intelligence Platform Market

Key Drivers for Customer Intelligence Platform Market



  Increased adoption of advanced analytics and artificial intelligence - The growing usage of sophisticated analytics and artificial intelligence (AI) is one of the primary drivers of the customer intelligence platform market. The term "advanced analytics" refers to the use of sophisticated methods and equipment to analyze large amounts of data and provide relevant insights. Artificial intelligence (AI) is the development of intelligent computers capable of doing activities that have historically needed human intelligence, such as natural language processing, machine learning, and predictive analytics. Customer intelligence systems collect and analyze data from a variety of sources, including social media, customer interactions, and transaction history, employing novel analytics and artificial intelligence technology. Using these technologies allows businesses to have a deeper understanding of their customers' preferences and behavior patterns. This allows firms to create customer-relevant, data-driven marketing strategies and decisions.


  Need to get a comprehensive view of consumer data.




Key Restraints for Customer Intelligence Platform Market



  Lack of Skilled Professionals Limits Market Growth


  Lack of data quality and challenges in data integration hamper the market growth



Required to abide by data privacy legislation and defend against customer information hamper the market

Customer intelligence platforms consolidate first-party customer data from diverse channels and sources into a single customer view. Under the General Data Protection Regulation (GDPR) and other data privacy legislation, marketers are required to get marketing consent from consumers. Customer data is very susceptible to breaches and cyberattacks. Therefore, it becomes essential for a customer intelligence platform to comprehend the principal challenges relating to data management, including customer information protection as sensitive data and marketing consent of consumers. An ideal customer intelligence platform must be supported by a data model based on consent; it facilitates storing information of customer journey and consent to marketing and delivers customers transparency as well as control over the way their data gets utilized. If the customer has opted out of permission for use of their data, then the customer intelligence platform should add them to a direct mail suppression list and make sure that it will not get any unwanted marketing material through any other medium. In those nations with weak or no regulations regarding customer data privacy, customer intelligence platform solutions are applied on existing data privacy situations or even in expectation of the regulations that may emerge within the near future. It might cause problems when such new legislation is enacted surrounding customer data privacy. Therefore, the necessity of privacy of customer information and adherence to data privacy regulations is central to the acceptance of customer intelligence platforms.

Opportunities for Customer Intelligence Platform

Rising the use of Customer Intelligence Platforms to Track Market Changes

The ever-changing nature of consumer behavior and market dynamics has resulted in a rapid increase in the use of customer intelligence platforms. Companies are now more aware of the importance of remaining agile and responsive to ensure a competitive advantage. Customer intelligence platforms allow organizations to aggregate real-time information from various touchpoints like websites, social media, mobile applications, and customer service interactions—into a single view, enabling them to gain deeper insights into evolving trends and changing customer preferences. Through the use of advanced analytics and AI-based tools, such platforms enable businesses to identify shifts in purchasing behavior, sentiment in the market, and campaign effectiveness well before they happen. This enables businesses to adjust strategies, tailor customer experiences, and make better-informed decisions with data-driven accuracy. For i...

Customer Data Platform Market By Size, Share, Trends, Opportunity, and Forecast 2018-2028, Segmented By Component, By Deployment, By Type, By Industry, By Organization Size, By Region, Competition Forecast and Opportunities

The growth of the Customer Intelligence Platform Market, fueled by the increasing demand for data-driven customer insights and personalized experiences, saw it surpass USD 2.25 Billion in 2023. Projections indicate a remarkable rise to USD 11.53 Billion by 2031, with a robust CAGR of 25% from 2024 to 2031. This surge is propelled by several key factors driving the adoption of customer intelligence platforms across various industries.

The proliferation of digital channels and the exponential growth of customer data have created an urgent need for businesses to harness this information effectively. Customer intelligence platforms offer sophisticated analytical capabilities, enabling organizations to gain a comprehensive understanding of customer behaviors, preferences, and journeys. By leveraging these insights, companies can deliver highly personalized experiences, enhance customer engagement, and drive customer loyalty, thereby increasing revenue and market share.

Customer Intelligence Platform Market: Definition/Overview

A Customer Intelligence Platform is a comprehensive software solution that empowers businesses to gather, analyze, and leverage customer data from multiple sources to gain a deep understanding of their customers' behaviors, preferences, and journeys. It serves as a centralized repository for customer information, enabling organizations to consolidate data from various touchpoints, such as website interactions, social media engagements, purchase histories, and customer support interactions.

At its core, a Customer Intelligence Platform utilizes advanced analytics, machine learning algorithms, and data visualization tools to transform raw customer data into actionable insights. These insights provide businesses with a holistic view of their customers, allowing them to anticipate needs, identify pain points, and tailor products, services, and marketing efforts accordingly.

Customer Intelligence Platforms are vast, as they continue to evolve with the integration of emerging technologies such as natural language processing, conversational AI, and advanced machine learning models. These platforms will play a crucial role in enabling businesses to stay ahead of the curve, anticipate customer needs, and deliver exceptional customer experiences in an increasingly competitive and customer-centric market.

Customer Data Platform (CDP) Market Outlook

According to our latest research, the global Customer Data Platform (CDP) market size reached USD 3.6 billion in 2024, driven by the accelerating digital transformation initiatives across industries and the growing emphasis on personalized customer experiences. The market is projected to expand at a robust CAGR of 23.2% between 2025 and 2033, reaching an estimated USD 27.8 billion by 2033. This impressive growth is fueled by increased data generation, evolving regulatory landscapes, and the rising adoption of advanced analytics and artificial intelligence for customer engagement.

One of the primary growth drivers for the Customer Data Platform (CDP) market is the rapidly increasing volume of customer data generated through various digital touchpoints, including social media, e-commerce platforms, and mobile applications. Organizations are recognizing the critical importance of consolidating this fragmented data into unified, actionable customer profiles to drive more targeted and effective marketing campaigns. As businesses strive to deliver seamless omnichannel experiences, the demand for robust CDP solutions that can ingest, normalize, and activate data in real-time continues to surge. Moreover, the proliferation of IoT devices and connected technologies is further amplifying the need for scalable and flexible CDP architectures that can handle complex data ecosystems.

Another significant factor propelling the growth of the CDP market is the increasing focus on data privacy and regulatory compliance. With stringent regulations such as GDPR in Europe, CCPA in California, and similar frameworks emerging globally, organizations are under pressure to manage customer data responsibly and transparently. CDPs offer advanced consent management, data governance, and auditability features, enabling enterprises to maintain compliance while still leveraging customer data for personalization and analytics. This regulatory environment is compelling businesses, especially in highly regulated sectors like BFSI and healthcare, to adopt CDP solutions as a foundational component of their data strategy.

The integration of artificial intelligence and machine learning capabilities into CDP platforms is revolutionizing how organizations extract value from customer data. Advanced CDPs are now equipped with predictive analytics, automated segmentation, and real-time recommendation engines, enabling marketers to anticipate customer needs and deliver hyper-personalized experiences. As enterprises increasingly shift towards data-driven decision-making, the ability to unify, analyze, and activate customer data in real-time is becoming a key competitive differentiator. This technological evolution is not only enhancing the utility of CDPs but also expanding their application across new verticals and use cases, thereby broadening the addressable market.

Regionally, North America continues to dominate the CDP market, accounting for the largest share in 2024, followed by Europe and Asia Pacific. The high adoption rate in North America is attributed to the presence of leading technology providers, early digital adoption, and advanced marketing practices. However, Asia Pacific is witnessing the fastest growth, driven by rapid digitalization, burgeoning e-commerce, and increasing investments in customer engagement technologies across emerging economies like China and India. Europe remains a significant market, propelled by strict data privacy regulations and a mature digital ecosystem. Latin America and the Middle East & Africa are also showing promising growth, albeit from a smaller base, as organizations in these regions ramp up their digital transformation efforts.

In the evolving landscape of customer data management, the role of a Data Management Platform (DMP) is becoming increasingly pivotal. DMPs serve as a centralized hub for collecting, organizing, and activating large volumes of data from various sources. Unlike traditional data warehouses, DMPs are designed to handle real-time data processing and offer advanced analytics capabilities that are essential for modern marketing strategies. By integrating with CDPs, DMPs enhance the ability of organizations to create comprehensive customer profiles, enabling more precise targeting and personalization. This synergy is crucial for businesses aiming to leverage data as a strategic ass

The Alternative Data Market size was valued at USD 7.20 billion in 2023 and is projected to reach USD 126.50 billion by 2032, exhibiting a CAGR of 50.6 % during the forecasts period. The use and processing of information that is not in financial databases is known as the alternative data market. Such data involves posts in social networks, satellite images, credit card transactions, web traffic and many others. It is mostly used in financial field to make the investment decisions, managing risks and analyzing competitors, giving a more general view on market trends as well as consumers’ attitude. It has been found that there is increasing requirement for the obtaining of data from unconventional sources as firms strive to nose ahead in highly competitive markets. Some current trend are the finding of AI and machine learning to drive large sets of data and the broadening utilization of the so called “Alternative Data” across industries that are not only the finance industry. Recent developments include: In April 2023, Thinknum Alternative Data launched new data fields to its employee sentiment datasets for people analytics teams and investors to use this as an 'employee NPS' proxy, and support highly-rated employers set up interviews through employee referrals. , In September 2022, Thinknum Alternative Data announced its plan to combine data Similarweb, SensorTower, Thinknum, Caplight, and Pathmatics with Lagoon, a sophisticated infrastructure platform to deliver an alternative data source for investment research, due diligence, deal sourcing and origination, and post-acquisition strategies in private markets. , In May 2022, M Science LLC launched a consumer spending trends platform, providing daily, weekly, monthly, and semi-annual visibility into consumer behaviors and competitive benchmarking. The consumer spending platform provided real-time insights into consumer spending patterns for Australian brands and an unparalleled business performance analysis. .

The size of the Global Healthcare Customer Data Platform market was valued at USD XXX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of 27.11% during the forecast period.The Global Healthcare Customer Data Platform Market is a fast-emerging business that enables healthcare organizations to unlock power in their data. A Healthcare Customer Data Platform, or HCDP, is a single piece of software, designed to unite patient data from all the sources, including EHRs, clinical trials, wearables, and social media, in one, central repository to allow healthcare providers to access a holistic and action-oriented view of each patient's health journey. HCDPs revolutionize healthcare by driving personalized patient experiences. Critical analysis of large amounts of data identifies important patterns and trends, which will enable healthcare providers to tailor treatments, medications, and communication for individuals. For instance, HCDPs enable proactive care management with regard to the possible health risks of different patients and immediate interventions whenever health risks get closer. The capabilities of HCDPs optimize operational efficiency further. HCDPs automate what has been a time-consuming data collection and analysis for the various purposes. These systems simplify workflow procedures, therefore minimizing administrative burdens. Healthcare professionals can maximally be engaged in the provision of quality healthcare services rather than fumbling about paperwork. Conclusion This Global Healthcare Customer Data Platform Market is expected to grow exponentially due to the increasing importance of data-driven insights. Patient outcomes improvement, operational efficiency, and complete overhaul of service delivery will be the core approach that dominates the way healthcare providers embrace HCDPs. Recent developments include: In March 2022, GE Healthcare planned to introduce the Edison Digital Health Platform, a vendor-agnostic hosting and data aggregation platform with an integrated artificial intelligence (AI) engine. The platform was developed to enable hospitals and healthcare systems to effectively deploy clinical, workflow, analytics, and AI tools within the healthcare environment., In March 2022, Salesforce introduced innovations across Customer 360 for Health, including Patient Data Platform and Patient Commerce Portal updates. These new features, powered by Marketing Cloud and Commerce Cloud, enable healthcare and life sciences companies to create personalized digital experiences while safeguarding patient data.. Key drivers for this market are: Technological Advancements, Growing Burden of Diseases. Potential restraints include: High Price and Maintenance, Lack of Proper IT infrastructure. Notable trends are: The Cloud-Based Segment is Expected to Account for the Significant Market Share During the Forecast Period.

The data de-identification and pseudonymity software market is projected to be valued at $3.2 billion in 2024, driven by factors such as increasing consumer awareness and the rising prevalence of industry-specific trends. The market is expected to grow at a CAGR of 7.5%, reaching approximately $6.1 billion by 2034.

The Customer Data Platform (CDP) software market is experiencing robust growth, driven by the increasing need for businesses to understand and leverage their customer data effectively. The market's expansion is fueled by several key factors, including the rising adoption of digital marketing strategies, the proliferation of data sources, and the growing demand for personalized customer experiences. Businesses across all sizes—from small enterprises to large corporations—are recognizing the value of a unified customer view, enabling them to improve marketing effectiveness, enhance customer retention, and drive revenue growth. The cloud-based deployment model dominates the market due to its scalability, flexibility, and cost-effectiveness, while large enterprises represent the largest segment, reflecting their higher budgets and complex data management needs. However, the market also faces some restraints, including data privacy concerns and the complexity of integrating CDPs with existing systems. The competitive landscape is dynamic, with established players and innovative startups vying for market share. We project a continued strong CAGR, indicating substantial market expansion throughout the forecast period. This growth will likely be fueled by technological advancements, such as the increasing use of artificial intelligence (AI) and machine learning (ML) in CDP solutions, allowing for more sophisticated customer segmentation and personalization. Further, expanding adoption across emerging markets and a greater emphasis on data security and compliance are anticipated to further stimulate market growth. The market segmentation reveals significant opportunities within specific demographics. While large enterprises currently lead adoption, the medium and small enterprise segments represent considerable growth potential as these businesses increasingly prioritize data-driven strategies. Geographic distribution shows North America and Europe currently holding significant market shares, owing to high digital maturity and early adoption. However, rapid growth is projected within Asia-Pacific and other emerging regions, fueled by increasing internet penetration and rising digitalization efforts. The competitive landscape remains dynamic, with strategic partnerships, mergers and acquisitions likely shaping the market in the coming years. Overall, the CDP software market is poised for substantial growth, driven by increasing demand for personalized customer experiences and technological advancements. Companies are seeking improved customer insights and efficient data management, making this market a promising sector for investment and innovation.

Global Customer Data Platform Market valued at USD 6 Bn, driven by personalized marketing, data privacy, and e-commerce growth for unified customer profiles and real-time insights.

According to Cognitive Market Research, the global Artificial Intelligence in Retail market size is USD 4951.2 million in 2023and will expand at a compound annual growth rate (CAGR) of 39.50% from 2023 to 2030.

Enhanced customer personalization to provide viable market output
Demand for online remains higher in Artificial Intelligence in the Retail market.
The machine learning and deep learning category held the highest Artificial Intelligence in Retail market revenue share in 2023.
North American Artificial Intelligence In Retail will continue to lead, whereas the Asia-Pacific Artificial Intelligence In Retail market will experience the most substantial growth until 2030.

Market Dynamics of the Artificial Intelligence in the Retail Market

Key Drivers for Artificial Intelligence in Retail Market

Enhanced Customer Personalization to Provide Viable Market Output

A primary driver of Artificial Intelligence in the Retail market is the pursuit of enhanced customer personalization. A.I. algorithms analyze vast datasets of customer behaviors, preferences, and purchase history to deliver highly personalized shopping experiences. Retailers leverage this insight to offer tailored product recommendations, targeted marketing campaigns, and personalized promotions. The drive for superior customer personalization not only enhances customer satisfaction but also increases engagement and boosts sales. This focus on individualized interactions through A.I. applications is a key driver shaping the dynamic landscape of A.I. in the retail market.

January 2023 - Microsoft and digital start-up AiFi worked together to offer Smart Store Analytics. It is a cloud-based tracking solution that helps merchants with operational and shopper insights for intelligent, cashierless stores.

Source-techcrunch.com/2023/01/10/aifi-microsoft-smart-store-analytics/

Improved Operational Efficiency to Propel Market Growth

Another pivotal driver is the quest for improved operational efficiency within the retail sector. A.I. technologies streamline various aspects of retail operations, from inventory management and demand forecasting to supply chain optimization and cashier-less checkout systems. By automating routine tasks and leveraging predictive analytics, retailers can enhance efficiency, reduce costs, and minimize errors. The pursuit of improved operational efficiency is a key motivator for retailers to invest in AI solutions, enabling them to stay competitive, adapt to dynamic market conditions, and meet the evolving demands of modern consumers in the highly competitive artificial intelligence (AI) retail market.

January 2023 - The EY Retail Intelligence solution, which is based on Microsoft Cloud, was introduced by the Fintech business EY to give customers a safe and efficient shopping experience. In order to deliver insightful information, this solution makes use of Microsoft Cloud for Retail and its technologies, which include image recognition, analytics, and artificial intelligence (A.I.).

Source-www.ey.com/en_gl/news/2023/01/ey-announces-launch-of-retail-solution-that-builds-on-the-microsoft-cloud-to-help-achieve-seamless-consumer-shopping-experiences

Key Restraints for Artificial Intelligence in Retail Market

Data Security Concerns to Restrict Market Growth

A prominent restraint in Artificial Intelligence in the Retail market is the pervasive concern over data security. As retailers increasingly rely on A.I. to process vast amounts of customer data for personalized experiences, there is a growing apprehension regarding the protection of sensitive information. The potential for data breaches and cyberattacks poses a significant challenge, as retailers must navigate the delicate balance between utilizing customer data for AI-driven initiatives and safeguarding it against potential security threats. Addressing these concerns is crucial to building and maintaining consumer trust in A.I. applications within the retail sector.

Key Trends for Artificial Intelligence in Retail Market

Surge in Voice-Enabled Shopping Interfaces Reshaping Retail Experiences

Voice-enabled A.I. assistants such as Amazon Alexa and Google Assistant are revolutionizing the way consumers engage with retail platforms. Shoppers can now utilize voice commands to search, compare, and purchase products, thereby streamlining and accelerating the buying process. Retailers...

Market Research companies have benefited from research and development (R&D) expenditure growth as companies develop new products to satisfy consumer demand. Downstream companies continue to rely on market research to create new products and campaigns that fit ever-changing consumer preferences. As companies strive to enhance consumer-centric strategies amid increased consumer spending, demand for tailored market research solutions has surged. High corporate profit levels have enabled businesses to invest in research and development. The digital shift has further transformed the landscape, with companies pioneering new research tools to tap into the vast potential of big data to enhance accessibility and participation. These trends have led to revenue growing at a CAGR of 3.9% to $36.6 billion over the next five years, including a 2.4% gain in 2025 alone. Consumers' and advertisers' growing reliance on the internet has led to new metrics market researchers can use to better understand consumers. These have allowed new companies to enter the industry and driven providers to adjust services and implement new technologies. The rising use of social media has also contributed to the growing demand for market research. These technological advancements improved data collection and analysis methods, offering actionable insights that helped companies refine marketing strategies and develop better products. New opportunities continue to drive revenue growth, but expansions to services and onboarding of new technology have cut into industry profit. Companies will strengthen their R&D budgets as economic conditions improve, further driving demand for advanced market research tools. The proliferation of online commerce and smart technologies will give researchers unprecedented access to consumer data. Technological developments, such as artificial intelligence (AI), are poised to create new metrics based on human reactions, which companies can leverage to better understand consumer behavior and preferences. These new technologies will develop new market research opportunities. Access to these metrics, however, will lead to tightening data privacy regulations. There's a growing emphasis on ethical practices, transparency and data security. This will shape consumer trust and industry standards, creating new opportunities and challenges in a rapidly evolving marketplace. Revenue is poised to grow at a CAGR of 2.2% to $40.9 billion through the end of 2030.

The Measurable AI Temu & Fast Fashion E-Receipt Dataset is a leading source of email receipts and transaction data, offering data collected directly from users via Proprietary Consumer Apps, with millions of opt-in users.

We source our email receipt consumer data panel via two consumer apps which garner the express consent of our end-users (GDPR compliant). We then aggregate and anonymize all the transactional data to produce raw and aggregate datasets for our clients.

Use Cases Our clients leverage our datasets to produce actionable consumer insights such as: - Market share analysis - User behavioral traits (e.g. retention rates) - Average order values - Promotional strategies used by the key players. Several of our clients also use our datasets for forecasting and understanding industry trends better.

Coverage - Asia (Japan, Thailand, Malaysia, Vietnam, Indonesia, Singapore, Hong Kong, Phillippines) - EMEA (Spain, United Arab Emirates, Saudi, Qatar) - Latin America (Brazil, Mexico, Columbia, Argentina)

Granular Data Itemized, high-definition data per transaction level with metrics such as - Order value - Items ordered - No. of orders per user - Delivery fee - Service fee - Promotions used - Geolocation data and more - Email ID (can work out user overlap with peers and loyalty)

Aggregate Data - Weekly/ monthly order volume - Revenue delivered in aggregate form, with historical data dating back to 2018.

Most of our clients are fast-growing Tech Companies, Financial Institutions, Buyside Firms, Market Research Agencies, Consultancies and Academia.

Our dataset is GDPR compliant, contains no PII information and is aggregated & anonymized with user consent. Contact business@measurable.ai for a data dictionary and to find out our volume in each country.

The Customer Data Platforms (CDP) market is rapidly evolving as businesses increasingly recognize the importance of data-driven marketing. A CDP is a centralized platform that unifies customer data from various sources, allowing organizations to create a comprehensive view of their customers and personalize interact

Global Consumer Data Storage Devices market size 2025 was XX Million. Consumer Data Storage Devices Industry compound annual growth rate (CAGR) will be XX% from 2025 till 2033.

Behavioral Targeting Market Outlook

The global behavioral targeting market size was valued at approximately USD 10.5 billion in 2023 and is expected to reach around USD 29.8 billion by 2032, growing at a compound annual growth rate (CAGR) of 12.5% during the forecast period. This impressive growth is driven by the increasing need for personalized marketing strategies and the rising adoption of advanced analytics technologies across various industry verticals.

One of the primary growth factors for the behavioral targeting market is the rapid advancement and adoption of big data analytics and machine learning technologies. These technologies enable companies to gather and analyze vast amounts of consumer data, thus allowing for more accurate and effective targeting. As companies strive to enhance customer experiences and improve conversion rates, the demand for sophisticated behavioral targeting solutions continues to rise. Additionally, the proliferation of smartphones and other connected devices has resulted in an exponential increase in data generation, further fueling the market growth.

Another significant driver for the growth of the behavioral targeting market is the increasing emphasis on personalized advertising. Traditional advertising methods are becoming less effective as consumers are inundated with generic and irrelevant ads. By leveraging behavioral targeting, companies can deliver personalized and relevant ads to their target audience, significantly improving engagement and conversion rates. This shift towards personalization is evident across various industries, including retail, BFSI, healthcare, media and entertainment, and IT and telecommunications, further propelling the market growth.

Moreover, the growing focus on enhancing customer experiences is also contributing to the expansion of the behavioral targeting market. Businesses are increasingly recognizing the importance of understanding consumer behavior and preferences to deliver tailored experiences. Behavioral targeting solutions enable companies to gain deep insights into consumer behavior, preferences, and buying patterns, allowing them to create highly targeted marketing campaigns and deliver superior customer experiences. This focus on customer-centric strategies is expected to drive the adoption of behavioral targeting solutions across various sectors.

From a regional perspective, North America is expected to dominate the behavioral targeting market during the forecast period, owing to the presence of a large number of key market players and the rapid adoption of advanced technologies in the region. Additionally, the Asia Pacific region is anticipated to witness significant growth, driven by the increasing digitalization and growing e-commerce industry in countries like China and India. Europe, Latin America, and the Middle East & Africa are also expected to contribute to the market growth, albeit at a relatively moderate pace.

Component Analysis

The behavioral targeting market can be segmented by component into software and services. The software segment is anticipated to hold a significant share of the market, driven by the increasing adoption of advanced analytics and machine learning technologies. These software solutions enable businesses to collect, analyze, and interpret vast amounts of consumer data, facilitating the creation of highly targeted marketing campaigns. Additionally, the continuous advancements in software capabilities, such as real-time data processing and predictive analytics, are expected to further drive the demand for behavioral targeting software.

Within the services segment, the market can be further divided into professional services and managed services. Professional services include consulting, integration, and training services, which are essential for the successful implementation and optimization of behavioral targeting solutions. As businesses seek to maximize the benefits of their behavioral targeting investments, the demand for professional services is expected to grow. On the other hand, managed services involve the outsourcing of behavioral targeting operations to third-party service providers, allowing businesses to focus on their core competencies. The increasing trend towards outsourcing and the need for specialized expertise are expected to drive the growth of the managed services segment.

The integration of behavioral targeting solutions with other marketing technologies, such as customer relationship management (CRM) and marketing automation platforms, is also expected to boost the demand for both

Get key insights from Market Research Intellect's Customer Data Platforms Cdp Market Report, valued at USD 4.5 billion in 2024, and forecast to grow to USD 10.3 billion by 2033, with a CAGR of 12.5% (2026-2033).

The size of the Data Management Platform Market was valued at USD 3.4 billion in 2023 and is projected to reach USD 8.25 billion by 2032, with an expected CAGR of 13.50% during the forecast period. The Data Management Platform (DMP) market is experiencing robust growth, driven by the increasing demand for personalized marketing and data-driven decision-making. Organizations across various industries are leveraging DMPs to collect, analyze, and manage vast amounts of first-party, second-party, and third-party data. These platforms enable businesses to gain actionable insights into customer behavior, preferences, and trends, facilitating targeted advertising and improved customer engagement. The proliferation of digital channels, such as mobile applications, social media, and e-commerce platforms, further fuels the adoption of DMPs, as businesses seek to unify fragmented data sources. Additionally, advancements in artificial intelligence and machine learning are enhancing the analytical capabilities of DMPs, enabling real-time audience segmentation and predictive analytics. However, data privacy regulations and concerns around user consent pose challenges to the market's growth. To address these, vendors are focusing on compliance, transparency, and robust data security measures. As businesses increasingly prioritize data-driven strategies, the DMP market is poised for significant expansion, with opportunities for innovation in integration, scalability, and interoperability to meet evolving organizational needs. Recent developments include: 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., 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.. Key drivers for this market are: Increasing data volumes and complexity Growing importance of customer data and personalization Adoption of digital marketing channels Need for data-driven decision-making Government regulations. Potential restraints include: Data privacy concerns Cost and complexity of implementation Lack of skilled data professionals Data quality issues Integration challenges with other systems. Notable trends are: Rise of the Identity Graph Adoption of Cloud-Native Platforms Real-Time Data Management Multi-Vendor Integration Ethical and Sustainable Data Use.