Data management platforms have become an instrumental aspect of new-age advertising solutions. Businesses across every industrial vertical in the world continues to depend upon advertisements as a reliable tool for marketing and reaping sales orders.
New York, NY -- (SBWIRE) -- 03/22/2017 -- According to the study, the global data management platform market, which is presently worth over US$ 1.2 billion, will surge at a stellar 14.5% CAGR to harvest an estimated US$ 3.7 billion revenues by the end of 2024.
With a certainty that advertising operations will keep gaining thrust in the business of every enterprise in the world, the global demand for data management platforms will continue to soar correspondingly. A recent study conducted by Persistence Market Research projects that the evolution of global advertising industry has played a seminal role in the expansion of global market for data management platforms.
Sales of data management platforms across the globe have been factored by their effectiveness in promotional activities of various business outfits. Media agencies, publishers, advertising networks, and brand developers for retail businesses have been recognized as the key end-users of data management platforms. The study estimates that media agencies will be the largest end-user of data management platforms, procuring over 30% value share of global market in 2017 and beyond. By the end of 2024, data management platform revenues accounted by publishers will soar at the fastest pace, registering 15.6% CAGR.
In the report, titled "Data Management Platforms Market: Global Industry Analysis & Forecast, 2016-2024," Persistence Market Research has profiled the leading companies providing data management platforms to end-users. Oracle Corporation in anticipated to remain the most-dominant player in the global data management platform market. Along with it, companies such as Adobe Systems Incorporated, Cxense ASA, KBM Group LLC, and Rocket Fuel Inc. will undertake strategic acquisitions to extend their market presence. On the other hand, Krux Digital, LLC, Lotame Solutions, Inc., and Turn Inc. are known for their focus on product launches. Other players in the global data management platform market include, Neustar Inc. and eXelate, Inc.
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The data management platform market in Asia-Pacific (APAC) is anticipated to grow rampantly, registering a 15.6% CAGR over the forecast period. North America accounted for around 45% share of global market revenues in 2016, and is slated to remain the dominant region by bringing in an estimated US$ 1.72 billion revenues by the end of 2024. Europe is expected to be the second-largest market for data management platforms, while Latin America and the Middle East & Africa (MEA) will exhibit growth at a comparatively low CAGR.
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Additional research findings on the global data management platform market include:
- Rise in number of customers connected through data-sharing devices will fuel the adoption of data management platforms among advertisement & PR agencies
- A majority of data management platforms deployed during the forecast period will be cloud-based
- On-premise deployment of data management platforms will account for less than 16% of global market by 2024-end
- Emergence of customer data platforms with operational flexibility will impose a threat for deployment of data management platforms
- Throughout the forecast period, first-party & third-party data sources are projected to account for over 70% of global data management platform revenues