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Data Management Platform Market - Forecast(2024 - 2030)
Data Management Platform Market
Overview
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
Report Coverage
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
Platforms
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)
Key Takeaways
- 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
companies.
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
The data management platform requires right people to run the operation, but the lack of skilled workforce majorly leads to critical issues for its growth. The implementation of data platform management requires the developer to have knowledge of JavaScript, HTML and CSS. Thus, the lack of these basic knowledge hampers the hiring of the right expertise, thereby affecting the organizations productivity. These critical issues further hinder the growth of implementation of data platform management market.
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
others.
Acquisitions/Technology Launches
- 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
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