Data Management Platform Market
Data Management Platform Market size is forecast to reach $2.9 billion by 2026, estimated to grow at a CAGR of 12.2% during 2021-2026. The growing need to collect data from the sources such as CRM data, POS data, Mobile web & Apps, social network, web analytics tools and others are driving the Data Management Platform Market. The usage of DMP for the advertisers to target customers and match the needs of the customers across devices are significantly boosting the Data Management Platform Market size during the forecast period 2021-2026. Data management deals with the information sources related to product, location, supplier, customer, and asset drive a business. The increasing usage of DMP eliminates redundancy and costly inefficiencies by unreadable stored data. Additionally, it satisfies the need for businesses to increase the consistency and quality of their key data assets which include product data, customer data, location data, and asset data. Thus, the DMP platform plays a vital role in supporting an enterprise data strategy, as it provides accurate and timely information along with up to date data definitions. For this, today’s global enterprises and organizations are turning to MDM to experience improved decision making which solve numerous data challenges, thereby contributing to the expansion of the cloud-based software market size
The report: “Data Management Platform Market Forecast (2021-2026)”, by IndustryARC, covers an in-depth analysis of the following segments of the Data Management Platform Market.
By Platform Type: Open Data Management Platforms and Private Data Management
By Data Source: Web Analytics Tool, Mobile Web, Mobile Apps, CRM data, POS data, Social Network and others
By Deployment Type: Cloud-based and On-premises
By End-user: Advertisers, Publishers (Import Data, Match customer IDs, Collect new data, Help define group, Provide access to data vendors, Estimate price and reach, Suggest new groups of people to target, Use above information to buy advertising and Generate Reports), Media agency and Brand/Retailer
By Geography: North America (U.S, Canada, Mexico), South America(Brazil, Argentina, Ecuador, Peru, Colombia, Costa Rica and others), Europe(Germany, UK, France, Italy, Spain, Russia, Netherlands, Denmark and Others), APAC (China, Japan India, South Korea, Australia, Taiwan, Malaysia and Others), and RoW (Middle east and Africa)
- In 2019, the Data Management Platform Market was dominated by North American region owing to the growing adoption of TV advertisers in the US and adoption of DMP by enterprises or data security and collection.
- The increasing development in the advertising industry is promoting the usage of TV data management platform for collecting data and understanding the targeted audience.
- With the deployment of augmented analytics the data collection processes has become more efficient which is highly being adopted by various organizations fueling the DMP market.
- Lack of competence and skilled
workforce results in critical issues for the deployment of data management
platform and further leads to high cost of hiring for the
Data Management Platform Market, By Region, 2020 (%)
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Data Management Platform Market Segment Analysis- By End-user
Advertisers segment held the largest market share in the Data Management Platform Market in 2020 at 19.5% 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 fueling 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.
Data Management Platform Market Segment Analysis- By Deployment
The on-premises deployment segment occupied the major share in the Data Management Platform Market as of 2020 at 68.2% share. The deployment of MDM software in an on-premise data center is preferred by the enterprises, as it offers total control on the security of enterprise sensitive data, such as product data, enterprise asset details, customer details, and supplier data. This data exists on dedicated servers which has no connection with other business data of the enterprise, thus data is secured. The growing adoption of on-premises deployment mode is evident as it allows enterprises to install highly secured, customized, and complex master data management solutions, which matches the requirements of enterprises. Therefore, all these factors together driving the growth of the on-premises deployment segment in the global MDM market.
Data Management Platform Market Segment Analysis- By Geography
In 2020, North America dominated the Data Management Platform Market with a share of more than 38.9%, followed by Europe and APAC. The rising penetration of internet technology such as software, hardware and transmission protocols and so on in enterprises are leading towards the growth of Data Management Platform Market in this region. In addition, enterprises are widely opting to data management platform for managing and enabling new technologies. Furthermore, the need for efficient platform for measuring the performance using TV identity is leading to the deployment of No. 1 TV streaming platform in the US which is enhancing the DMP market in this region.
Data Management Platform Market Drivers
Data Protection with Artificial Intelligence
The increasing use of technology in
the businesses are leading to the requirement of efficient data protection
which has led to the increasing need for artificial intelligence technology.
The AI-infused tools accelerate the business process thereby offering enhanced
the data protection and collection, and further enhancing data security. In
addition, most of the organizations collects data from number of various
touch-points such as websites, mobile devices and even devices powered by the
Internet of Things (IoT). These collection of data from various touch-points
leads to the demand for efficient data protection which leads to the
integration of AI. With the rising use of artificial intelligence, the
organizations IT team protect data and ensure security.
The rise of Augmented Analytics
Most of the businesses owners are spending time and money on data collection and management which is leading to the technology advances. This advancement is leading to the introduction of augmented analytics for analyzing data efficiently. The deployment of augmented analytics provides several advantages including the allowance of real-time information from the data collected. This is also offering enhanced customer engagement in order to make important decisions for the efficient business process. The augmented analytics also promotes business intelligence and data sharing further propelling Data Management Platform Market.
Data Management Platform Market Challenges
Lack of Competence
Data Management Platform Industry Outlook
Technology launches, acquisitions
and R&D activities are key strategies adopted by players in the Data
Platform Management market. In 2020, the market of Data Platform Management has
been consolidated by the major players – Oracle Corporation, Adobe Systems Inc,
Kbm Group Llc, Rocketfuel, SAP SE, SAS Institute, Lotame Solutions Inc.,
InterSystems Corporation, Compuware Corporation, BMC Software, Inc. and among
- In October 2019, Aapi Inc. announced the release of world’s first intelligent digital mesh platform that provides organizations 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.
- In January, 2019, Pimcore closed the 1st round funding and the investment was led by German Auctus Capital Partners AG. This investment supports the Austrian tech startup’s product development efforts, U.S go-to-market strategies and India expansion plans. This has also led to the expansion of open-source data management platform for Indian IT service firms which has further expanded the market in India