Data Management Platform (DMP) Market Overview:
Data management platform is an intelligent form of a data warehouse. It collects the data from sources like mobile apps, mobile web, CRM, social networks, and stores that data and provides the useful information for the users such as ad agencies, marketers and publishers. The data management platform is majorly used to expand the audience segmentation by understanding the structure of audience by device, application and environment of usage to increase the effectiveness of the audience engagements.
The data platform market has demonstrated high degree of growth owing to rapidly escalating demand levels. Market Research Future which concentrates on market reports linked to the Information and Communications Technology sector amongst others recently made available a report on this sector. The global market for data management platform is anticipated to achieve USD 3 billion by the year 2023 while growing with a 15 per cent CAGR during the forecasted period.
Since data management platforms are being intensively utilized to manage and store any kind of information, the market is currently in a state of upswing. This sector has conquered a large degree of market share effectively due to intense demand from consumer end. The utility offered by data management platforms has increased their adoption speed which has further spurred on the growth of this industry considerably. The need to measure ROI and customer retention rates has further added to the growth of the market.
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Major Key Players:
The industry for data management platform internationally comprises of the key players and many developing firms such as Rocket Fuel, Inc (U.S.), Oracle Corporation (U.S.), Krux Digital Inc (U.S.), KBM Group LLC (U.S.), Adobe Systems Inc (U.S.) and Lotame Solutions Inc (U.S.).
The industry for data management platform has been segregated on the basis of data source, data type and end user.
By Data Source: Mobile Web, Web Analytics Tools, POS Data, Mobile Apps, CRM Data, Social Network and Others
By Data Type: Second Party Data, Third Party Data and First Party Data. The first party data holds the main share in the current market. However, the third party data market share is growing at a consistent pace.
By End User: Ad Agencies, Marketers and Publishers.
Detailed Regional Analysis:
The market for Data Management Platform Market is divided into Europe, North America, Asia Pacific and Rest of the world. Among these regions, North America is estimated to dominate the market with Asia pacific region closely following in the second position. This is primarily owing to increase in the internet usage and online customers. As the market further experiences further development in technological advancements, the rise of connected devices are increasing the usage of data sharing across different platforms. The market due to the rise in the cloud services globally, will lead to a majority of data management platform to migrate effectively to the cloud.
Global Competitive Analysis:
The profitable circumstances accessible in this market are being applied by candidates who are trying to increase their market coverage by focused development which can encourage the expansion of this business sector. The businesses in this trade area are combining their resources to attain their vision for achieving a substantial portion of the business as early as possible. This has raised the possibilities for the approaching growth period significantly. The merchandise that are being provided presently differ greatly because of the rationale of the robust pace of technological discoveries. This consequence is productive for companies so they can aim to uphold their commercial enterprise’s liquidity to take the most effective decisions in terms of strategy execution and designing.
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Mar 2018 RingLead which is a prominent SaaS data management company has recently announced the launch of two new products in its product assortment which are DMS SMB and DMS Enterprise, to their current lineup to better provide to the data quality requirements of its varied customer base. The DMS SMB and DMS Enterprise make it easier for companies to manage their data quality. RingLead’s Data Management Solutions (DMS) has the first fully integrated, data management platform in the market which is cloud-based that can enrich, clean, protect and normalize the vital data within a company’s CRM.
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