Data Management Platforms Market

Data Management Platforms Market (2023-2033)

The market for data management platform was valued at US$ 2,188.2 Mn in 2022, and by the end of 2033, it is expected to have grown to US$ 22,907.1 Mn. The market for data management platform is estimated to valuate to US$ 2,455.3 Mn in 2023, and is predicted to grow at a CAGR of 14.5% from 2023 to 2033.

A data management platform (DMP) is a software system that allows businesses to collect, store, analyze, and activate data from various sources. DMPs typically provide a centralized platform for managing data, including data from first-party sources such as website analytics and customer relationship management systems, as well as third-party sources such as data providers and partners.

Data management platform (DMPs) also provides tools for segmenting and targeting audiences, and for activating data through integrations with other marketing technology systems. The main purpose of data management platform (DMP) is to provide a single source of truth for a company's data and to allow for efficient data-driven decision making.

Data management platform (DMP) can be used to activate data across various channels, such as display advertising, email marketing, and social media, which can help to improve the effectiveness of campaigns and drive better results. In terms of the regional market landscape, the market in North America held a leading market share of 26.5% in the global landscape in 2022 and is anticipated to retain its leading position throughout the forecast period. Meanwhile, demand for data management platform in the Europe region will hold around 23.4% of the market in 2022.

What Restraints Will Hamper the Growth of Data Management Platform Market?

“Lack of Skilled Resources is Bigger Challenge in Data Management Platforms Market”

Even though the data management platforms (DMPs) are expanding remarkably, some constraints are limiting its expansion. The data management platform can't function on its own, connecting to numerous technologies is necessary. Additionally, using a data management platform calls for knowledgeable persons familiar with JavaScript, HTML and others. As a result, the market for data management platforms is not growing due to a lack of competent labour.

• In November 2022, Teradata announced that it will illustrate its improvement in cloud analytics with an in-person booth experience broad with live demos of its innovative cloud-native product.
• In December 2022, IBM announced a deal to acquire Octo, a U.S.-based provider of IT innovation and digital change services that works with the administration of the USA. The IBM is enhancing its cloud-based capabilities.

Why is Demand for Data Management Platforms Market Surging across US?

“Rapid adoption of e-commerce campaigns”

USA is the dominant country for data management platform in the world, accounting for about 17.1% of the market share in 2022.

Data management platforms are widely used in the United States by businesses of all sizes across various industries. In the US, data management platforms are primarily used for marketing and advertising purposes, US-based companies are using data management platforms to manage and analyse customer data in order to make data-driven decisions and improve business operations. Retailers are using data management platforms to improve the targeting of their e-commerce campaigns, and financial services companies are using DMPs to analyze customer data for risk management and fraud detection.

What Factors Allow China to Be a Promising Market for Data Management Platform?

“Strict Regulations and Compliances in China for Data Management”

The market in china is expected to be grow around CAGR of 12.8% by 2033. In China, data management platforms are widely used by businesses to collect, store, and analyze large amounts of data from various sources. However, data privacy and security regulations in China are stricter than in other countries, and companies using data management platforms in China will need to ensure that they comply with these regulations.

Additionally, the data collected by data management platforms in China is subject to laws and regulations that govern the protection and use of personal information, and companies are required to obtain consent from individuals for the collection, storage and use of their data.

What Factors are Allowing Area Sensors to Grow in India?

“High Availability of Manufacturers and Suppliers”

A Data Management Platforms Market (DMP) is a software system that allows companies to collect, store, and analyze large amounts of data from various sources. These platforms are commonly used in digital marketing to better understand and target customers.

In India, there are several companies that offer data management platform services, these companies provide DMP solutions to a variety of industries, including e-commerce, finance, and healthcare. Additionally, there are a number of start-ups in India that are focused on providing DMP solutions to businesses of all sizes.

Category-wise Insights

What’s the Market Share of On-premise Data Management Platform?

“Various Softwares of On-premise Data Management Platforms to Dominate the Market”

The use of MDM software in an on-site data centre is favoured by businesses because it gives them complete control over the protection of critical information related to products, assets, customers, and suppliers.

This data is secure since it is stored on specialised servers that are not connected to the enterprise's other business data. On-premises implementation is increasingly popular because it enables businesses to set up highly secure, individualised, and sophisticated master data management solutions that are tailored to their needs. As a result, all of these reasons are contributing to the on-premises deployment segment's rise in the worldwide MDM market.

What factors Are Influencing the Demand of Data Management Platforms for the End-user?

“Growing Use of television advertisements in End-user Allow Data Management Platforms to dominate in the Ad Network”

Ad network segment held the largest market share in the data management platform market in 2022 at 38.2% share. The television advertisements are widely using robust medium for the endorsement of the products and services of certain brands and enterprises.

This is leading to the requirement of efficient data collection methodology for the local broadcasters to target customers which is further fuelling the demand for data management platform. The deployment of TV DMP offers information regarding the target audiences and further accelerates the data management platform market.

Competitive Landscape

• In Dec 2022, Innovid announced a corporation with Kinetiq to power 2 by 2 linear ad-occurrence data directly into InnovidXP , the innovative measurement platform built for converged TV. Together with Innovid's CTV footprint, the integration of Kinetiq data creates a singular and substantial source of automatically identified TV ad airings that cover the convergent market.
• In May 2021, the autonomous platform for television advertising and analytics, Innovid, has announced the hiring of numerous significant products, business development, and industry vertical personnel to further elevate and execute its vision for measurement and identity.

Data Management Platforms Industry Report Scope

Data Management Platform Market Key Segments

By Data Source:

• First Party Data
• Second Party Data
• Third Party Data

By Deployment:

• Cloud-based
• On-premise

By End User:

• Media Agency
• Brand/Retailer
• Publisher
• Ad Network

By Region:

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

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