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. 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. 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.
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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
- Rocket Fuel, Inc.
- KBM Group LLC
- Cxense ASA
will undertake strategic acquisitions to extend their market presence. On the other hand,
- Krux Digital, LLC
- Lotame Solutions Inc.
- Turn Inc.
are known for their focus on product launches. Other players in the global data management platform market include,
- Neustar, Inc.
- 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.
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
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Key Questions Answered in Report
- How much is the data management platforms market worth?The data management platforms market is bound to reach US$ 2 Bn in the year 2021. In other words, it could be termed as a high output market.
- What will be the demand outlook regarding data management platforms market?The data management platforms market is estimated to grow two fold between 2021 and 2031.
- What was the last 5 year CAGR for the data management platforms market?The data management market grew at the rate of 14% between 2015 and 2020.
- What is the key trend in the data management platforms market?The ongoing trend is that of deploying augmented analytics, so that process of data collection turns out to be all the more efficient.
- What is driving the demand for data management platforms?Call for next-generation data management software platform and multi-dimensional data management appliances are driving the demand for data management platforms.
- What is the market share of top 5 players?The top 5 market players (Oracle Corporation, Adobe Systems Inc., Neustar, Inc., Rocket Fuel, Inc., and Turn Inc.) hold more than half of the market share.
- What are the top 5 countries driving demand?The top 5 countries driving demand include the US, Germany, UK, Japan, and Korea.
- What are the key market statistics in Korea and Japan?Korea and Japan altogether hold more than 30% of the market share.
- What is the market outlook in North America?North America is led by the US due to technological advancements on continuous basis. The US is likely to grow threefold herein.
- What is the key market statistics in Korea and Japan?Korea and Japan are the torchbearers with regards to the Asia-Pacific and expected to give a tough fight to North America in terms of generation of revenue.
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