Customer Data Platform Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
The Global Customer Data Platform Market was valued at USD 1.56 billion in 2021 and is expected to register a CAGR of 27.41% over the forecast period (2022 - 2027). Due to the growing demand for analyses of consumer behavior across industries, the market is likely to grow at a higher rate during the forecast period. Moreover, the changing landscape of customer intelligence, the proliferation of customer channels, and increasing investments and funding in CDP startups further boost the market growth.
Key HighlightsThe Customer Data Platform Market is dominated by the major players, such as SAP, Oracle, Salesforce, Adobe, and many more, that have a strong client base in the market. These players are constantly providing increased and enhanced offerings. The market poses high barriers to the entry of new players. However, several new entrants have been able to gain traction in the market.
Additionally, in order to sustain in the market and retain their clients, the companies are employing powerful competitive strategies. This factor intensifies the competitive rivalry in the market. Overall, the degree of competition is high and expected to remain the same throughout the forecasted period.
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