Data Management Platform Market Research Report by Forecast to 2023
Pune, India -- (SBWIRE) -- 02/02/2018 -- Market Synopsis of Global Data Management Platform Market:
Data management is one of the hottest emerging IT market, which is ripe with mergers and acquisitions. Commenting on the recent acquisition of Krux by Salesforce, Greg Stuart, CEO of the Mobile Marketing Association said "Oracle and their data and marketing cloud were laying claim to being experts and Krux allows Salesforce to differentiate themselves against other marketing clouds". The deal has indicated the entry of Salesforce in the data-management market."
According to official definition provided by DAMA International, Data Resource Management is the development and execution of architectures, policies, practices and procedures that properly manage the full data lifecycle needs of an enterprise. Thus data management platforms involves collection and storage of data from variety of sources such as mobile apps, mobile web, CRM, social networks, for the purpose of users such as ad agencies, marketers and publishers.
The Data Management Platform (DMP) Market is expected to reach approximately USD 3.0 billion by the end of 2023 with approximately 15% CAGR during the forecasted period from 2017 – 2023.
Key Players for global Data Management Platform (DMP) Market:
Oracle Corporation (U.S.), Adobe Systems Inc (U.S.), KBM Group LLC (U.S.), Rocket Fuel, Inc (U.S.), Krux Digital Inc (U.S.), Lotame Solutions Inc (U.S.), Turn Inc (U.S.), Neustar, Inc (U.S.), SAS Institute (U.S.), SAP SE (Germany), Cloudera Inc (U.S.) and Informatica (U.S.).
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Market Dynamics of Global Data Management Platform Market:
- Growing demand and importance of marketing and agencies
- Need for better customer targeting by creating personalized and strategically driven ads for higher conversion rates
- Greater ROI and customer retention
- Product development such as growing incorporating features such as data collection, data classification, data analysis, data transfer and scalability. Advanced features such as Tag Management, Audience segmentation, media integration, campaign analysis, and audience analytics
- Real time data analytics development
Current News and Trends:
Oct, 2016 - Salesforce Buys Krux, the Data-Management Platform, for $700 Million. Krux CEO Tom Chavez said "the deal will increase the precision of the Salesforce Marketing Cloud's audience segmentation and targeting". Salesforce has Einstein, which is its artificial intelligence-powered services. Tom Chavez also stated that "Krux will feed Salesforce Einstein with billions of new signals, enabling companies to be even smarter about their customers".
Sep, 2017 - HCL Acquires Data Management Platform company ETL Factory Limited, (Datawave).
Rahul Singh, President and Head – Financial Services, HCL Technologies stated that "The acquisition of Datawave and its suite of products will bolsters HCL's capabilities to collaborate with clients". "
Regional analysis of Data Management Platform Market:
The market for Data management Platform is segmented under North America, Europe, Asia Pacific and Rest of the world. Among these, North America is estimated to dominate the market following Asia pacific.
This is majorly due to rise in the online customer, internet usage and large smart phone users.
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Segments of Data Management Platform market
- Data Type - First Party Data, Second Party Data, Third Party Data. The first party data holds the highest
market share in 2016 due to its greater reverence and direct connection with the brand from existing or
potential customers. However third party data is growing at the fastest CAGR.
- Data Source - Web Analytics Tools, Mobile Web, Mobile Apps, CRM Data, POS Data, Social Network, Others.
- End User - Ad Agencies, Marketers, publishers.
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