The global data management platforms market is expected to secure a market value worth USD 2,090.7 million in 2023. During the forecast period from 2023 to 2033, the market is likely to display a CAGR of 12.3% while garnering a value worth USD 6,689.1 million by 2033.
The rising demand to collect data from various sources like POS data, CRM data, Mobile web & Apps, web analytics tools, social networks, and others is developing the data management platform market.
| Attributes | Details |
|---|---|
| Historical Value (2022) | USD 1,888.6 million |
| Current Year Value (2023) | USD 2,090.7 million |
| Expected Forecast Value (2033) | USD 6,689.1 million |
| Historical CAGR (2018 to 2022) | 10.2% |
| Projected CAGR (2023 to 2033) | 12.3% |
The application of DMP for advertisers to target customers and meet the demands of the customers across devices is likely to boost the data management platform market during the forecast period from 2023 to 2033.
Data management deals with information sources related to the product, locations, suppliers, and customers. The usage of DMP eliminates superfluous and expensive inefficiencies by unreadable stored data. It also satisfies the demand for businesses to enhance the quality of their key data assets which includes customer data, product data, location data, and asset data.
Besides, players in the market are working towards the development of new products. For instance, in April 2021, IBM Corporation announced the launch of a storage system for data management across hybrid clouds. The storage system is likely to enhance data management across hybrid cloud environments, thus improving data availability and flexibility.
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Increasing Application of AI for Data Protection to Benefit the Market
The growing application of technology in enterprises is resulting in the increased requirement for efficient data protection which has boosted the need for artificial intelligence technology. The AI-based tools enhance the business process thus, offering better data protection and collection, and further strengthening data security.
Most organizations collect data from a number of various touchpoints like mobile devices, websites, and even devices powered by the Internet of Things (IoT). These collections of data from various touch-points lead to the demand for efficient data protection which results in the integration of AI. With the increasing usage of artificial intelligence, the organization's IT team protects data and ensures security.
Players in the market are launching new platforms that are expected to benefit the industry in the coming time. For instance, In October 2019, Aapi Inc. disclosed the release of the first intelligent digital mesh platform that offers enterprises the ability to create an integration fabric for the entire ecosystem including apps, data, people, and logic.
The IDM platform integrates and automates everything which drives the data management platform market. Such factors are expected to benefit the industry in the forecast period.
Lack of Expertise to Hamper the Market
The data management platform demands expertise; however, the lack of a skilled workforce is the major cause of the market's suffering. The deployment of data platform management demands the developer to have knowledge of JavaScript, CSS, and HTML. Therefore, a lack of expertise hampers market growth, thus, affecting the enterprises’ productivity.
Another factor hampering the market growth is the rising cybercrime and database hacking operations, which has motivated enterprises to concentrate on improved data management platforms for safeguarding information placed in the cloud & on-premises, as well as to fortify internal organizational databases.
However, associated benefits like lessening operation expenses, boosting operational efficiency, and focusing on their competencies, are expected to counter hampering factors and assist in market growth during the forecast period.
Principal Consultant
Growing Popularity of Augmented Analytics to Support the Market Expansion
Various organizations are making significant investments in data collection and management which is resulting in rapid technological development. The development is resulting in the introduction of augmented analytics for analyzing data efficiently.
Implementation of augmented analytics offers various advantages like real-time information. It also provides customer engagement in order to take crucial decisions for a seamless business process. The technology also offers business intelligence and data sharing, which is expected to benefit the data management platforms market in the forecast period.
| Segment | 2022 Value Share in Global Market |
|---|---|
| Advertisers | 65.5% |
| Private Type | 66.4% |
Television Advertisements are Widely Using Advanced Methods to endorse their Products
According to the analysis, the global data management platform is expected to be dominated by advertisers. In 2022, the segment held the largest share.
Domination of the segment can be attributed to the increasing number of television advertisements that are widely using an effective medium for the endorsement of the products and services of certain brands and enterprises. The deployment of TV DMP provides information associated with target audiences and further boosts the data management platform market.
Advertisers generate massive consumer data through various channels, such as websites, mobile apps, social media, and offline interactions. This data includes demographic information, browsing behavior, and purchase history. Advertisers contribute to the expansion of the data management platforms market by actively collecting and providing this data to data management platform vendors.
Data management platforms enable advertisers to activate their audience segments and deliver targeted advertising across multiple channels, such as display ads, social media, email marketing, and more. Advertisers can use data management platforms to reach the right audience with the right message at the right time, improving the effectiveness of their advertising efforts. This drives the adoption of data management platforms among advertisers and contributes to market expansion.
Private Data Management Platforms Take the Lead in Protecting Sensitive Information
The private segment dominates the market for several reasons. Firstly, private data management platforms offer customization and control, allowing organizations to tailor the platform to their specific needs and integrate it with existing systems. This level of flexibility is particularly important for enterprises dealing with sensitive or proprietary data.
Private data management platforms also provide enhanced data security and privacy. Companies can mitigate the risks associated with data breaches and unauthorized access by maintaining ownership and control over their data. This aspect is especially critical for industries with strict regulations, such as healthcare and finance.
Private data management platforms also excel in providing industry-specific solutions. They can incorporate features, compliance requirements, and integrations that cater to specific sectors, making them more appealing to organizations facing unique data management challenges. Moreover, private data management platforms offer enterprise-level scalability, allowing large companies to efficiently handle vast amounts of data across various departments and regions. This scalability is crucial for managing data in a cost-effective and streamlined manner.
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| Region | 2022 Value Share in Global Market |
|---|---|
| North America | 27.4% |
| Europe | 21.2% |
According to the analysis, the global data management platforms market is anticipated to be dominated by North America. In 2022, the region secured 27.4% of the global revenue. The domination of the region can be attributed to the presence of various established companies in the region.
The presence of players like Adobe, Oracle BlueKai, and others, is expected to make a notable contribution to developing the market in the assessment period.
The region is the leading adopter of technological developments. Owing to the rising number of online customers and internet penetration, the region is likely to hold the apex position. With the rising proliferation of connected devices along with technical development, the region is expected to lead the market.
According to the observation, Europe is expected to be the second-largest market for data management platforms. In 2022, the region claimed 21.2% share of the global market. The development of the regional market can be attributed to factors such as increased mobile data subscriptions and increased internet usage.
As per the International Telecommunication Union, Europe had the highest internet usage with about 82.5% of individuals in Europe using the Internet as of 2019. Further, a rise of 57% in mobile data subscriptions has been witnessed since 2013 and has reached 90 subscriptions for every 100 individuals in the European Union (EU). Such factors are expected to benefit the regional market during the forecast period.
The study reveals that the Asia Pacific data management platforms market is anticipated to witness the maximum opportunities on account of the growing popularity of cloud computing.
The rising popularity of cloud computing and growing demand to enhance operational efficiency in large enterprises and SMEs are expected to benefit the data management platform market.
In the region, several governments are motivating software organizations to design and develop free and open-source software for managing and accessing a huge volume of data remotely, which is likely to promote the demand for DMP solutions over the forecast period.
| Countries | 2022 Value Share in Global Market |
|---|---|
| United States | 16.8% |
| Germany | 4.3% |
| Japan | 10.2% |
The United States data management platforms market is witnessing significant growth. The rise of programmatic advertising has fueled the demand for data management platforms in the United States.
Programmatic advertising leverages real-time data to automate the buying and selling of digital ad inventory, enabling advertisers to target specific audience segments with precision and efficiency. Organizations are increasingly integrating their data management platforms with CRM systems to gain a comprehensive view of customer behavior and preferences.
In the United States, healthcare and finance sectors leverage data management platforms for data-driven decisions and improved outcomes. Healthcare providers analyze patient data for disease trends and personalized treatment. Financial institutions use data management platforms for customer analysis, customized services, and fraud detection.
In November 2021, two renowned entities, namely Goldman Sachs and Amazon Web Services, Inc. (AWS), formed a collaborative effort to unveil the Goldman Sachs Financial Cloud for Data. This innovative partnership offers a range of cloud-based data and analytics solutions specifically designed for financial institutions. Leveraging Goldman Sachs' extensive expertise, institutional clients can effectively tackle data management and analytics challenges with confidence.
With the implementation of the General Data Protection Regulation (GDPR) in 2018, data privacy has become a top priority for businesses in Germany. Data management platforms that comply with stringent data protection regulations are in high demand, and companies are investing in secure and compliant data management solutions.
With the increasing use of multiple devices, such as smartphones, tablets, and laptops, marketers in Germany are seeking data management platform solutions that enable cross-device tracking. Germany's retail and e-commerce sectors have been early adopters of data management platforms. These industries leverage data management platforms to collect, analyze, and activate customer data for personalized marketing campaigns, customer segmentation, and targeted advertising.
The healthcare industry in Germany is increasingly adopting data management platforms to manage patient data, improve patient care, and enhance medical research. In July 2023, Datadobi® revealed that the German Cancer Research Center, Germany's leading biomedical research institute, has implemented its StorageMAP platform to enhance its data management and security capabilities.
Data privacy and compliance have become critical concerns with enforcing Japan's Personal Information Protection Act (PIPA). Organizations are prioritizing data management platforms that provide robust data security measures consent management tools, and comply with local regulations to protect consumer data and maintain trust.
Businesses in Japan are emphasizing cross-channel integration within data management platforms to deliver consistent messaging and seamless customer experiences across multiple touchpoints. The integration of offline and online data sources allows companies to create holistic customer profiles and engage customers through personalized marketing campaigns. Streamhub, a London-based streaming analytics startup, presented its brand-new cross-industry data management platform for streaming video in Japan in August 2019.
| Countries | Value CAGR (2023 to 2033) |
|---|---|
| United Kingdom | 12.1% |
| China | 14.5% |
| India | 16.5% |
The United Kingdom is one of the leading countries in programmatic advertising adoption. Data management platforms play a crucial role in programmatic advertising by providing data-driven insights and audience segmentation capabilities. Advertisers and marketers are increasingly relying on data management platforms to optimize their advertising campaigns and improve return on investment.
The United Kingdom has a highly connected and digitally engaged population. Data management platforms provide unique insights into customer behavior across multiple channels, including online, mobile, and offline touchpoints. This enables marketers to optimize their multichannel marketing strategies and deliver personalized experiences to customers. Hence, during the forecast period, the United Kingdom data management platforms market is likely to witness steady growth.
In February 2022, Informatica, a leading provider of enterprise cloud data management solutions, unveiled its plan to enhance the accessibility of its Intelligent Data Management Cloud (IDMC) in the EMEA region. This expansion includes the establishment of a new Point of Delivery (PoD) in the United Kingdom.
With the widespread use of smartphones, consumers in China have become increasingly reliant on mobile devices for various activities. Data management platforms are now focusing on mobile-first strategies to capture and analyze mobile user data effectively. China leads the world in mobile payment adoption, with platforms like Alipay and WeChat Pay dominating the market. Data management platforms in China can tap into this vast pool of transactional data to gain valuable insights into consumer behavior, preferences, and purchasing patterns.
Consumers are highly active on social media platforms like WeChat, Weibo, Kuaishou, and Douyin. Data management platforms can leverage social media data to understand consumer sentiment, drive targeted advertising campaigns, and identify key influencers for brand collaborations. In October 2022, KAWO, the top social media management platform in China, launched a new feature called the 'Data Center' on its platform. This innovative function incorporates various metrics to assist users in monitoring their performance across popular platforms.
India has witnessed rapid digital transformation across various sectors, including retail, e-commerce, banking, telecommunications, and healthcare. This transformation has resulted in an exponential increase in data generation, leading to the need for robust data management platform solutions to manage and leverage this data effectively.
The rapid growth of India's e-commerce and retail sectors has fueled the demand for data management platforms. These industries rely heavily on customer data to drive targeted marketing campaigns, improve customer experience, and increase sales. India also has a vibrant Small and Medium Enterprise (SME) sector, which is increasingly recognizing the value of data-driven marketing. Data management platforms that cater to the specific requirements and budgets of SMEs have a significant growth potential in the Indian market.
India's banking and financial services sector is leveraging data management platforms to enhance customer segmentation, personalized offers, and fraud detection. The increasing adoption of digital banking services and the need for personalized financial advice are driving the demand for data management platforms. In July 2023, the Centralized Information Management System (CIMS) was introduced by the Reserve Bank of India (RBI) with the purpose of managing the substantial flow of data, combining it, analyzing it, publicly distributing it, and ensuring data governance.
Snowflake (Australia), Fivetran (USA), Alation (USA), Immuta (USA), Collibra (Brussels), HEvo (India), Data. World (USA), Tray.io (USA), and Pimcore (Austria), among others, are some of the emerging names in the global data management platforms market.
Recent Update from the Startup Landscape:
Key players in the global data management platforms market include V12 Group Inc., Oracle BlueKai, Adobe Systems, Inc., IgnitionOne, Inc., NeuStar, Inc., Rocket Fuel, Inc., MediaMath Inc., and Lotame Solutions Inc.
Updates from the Industry:
The primary consumer for data management platforms is the information technology (IT) industry.
The Asia Pacific region is poised to stay attractive, projecting a USD 10 billion by 2033.
The market is estimated to secure a valuation of USD 2,090.7 million in 2023.
The market is estimated to reach USD 6,689.1 million by 2033.
The banking, financial services, and insurance (BFSI) sector holds high revenue potential in the data management platforms market.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Type 5.1. Open 5.2. Private 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End-User 6.1. Advertisers 6.2. Publishers 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. North America 7.2. Latin America 7.3. Western Europe 7.4. Eastern Europe 7.5. South Asia and Pacific 7.6. East Asia 7.7. Middle East and Africa 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. V12 Group Inc. 17.2. Oracle BlueKai 17.3. Adobe Systems, Inc. 17.4. IgnitionOne Inc. 17.5. NeuStar Inc. 17.6. Rocket Fuel Inc. 17.7. MediaMath Inc. 17.8. Lotame Solutions Inc 17.9. SAP SE 17.10. Exelate 17.11. KBM Group LLC 18. Assumptions & Acronyms Used 19. Research Methodology
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Data Management Platforms Market
