Data Management Platform (DMP) Market Overview:
The data management platform (DMP) market could reach the approximate valuation of USD 3 billion by the end of 2023, estimates Market Research Future (MRFR). The market is expected to achieve a growth rate of roughly 15% during the forecast period (2017-2023).
The market for data management is segmented on the basis of Data Type, Data Source and End Users. The data management platform uses various methods of data collection such as from the mobile web, mobile apps, web analytics tools, CRM data, POS data, and Social networks among others which are included in the segment by data sources. These data sources help the marketers, ad agencies, and publishers to collect the data either in the form of first party data, or second party data or third party data. Out of these the first party data is most valuable data because of the source of data collection have some form of direct connection with the brand. They are either the existing customers or the potential customers. Marketers use this type of data to convert the potential users into customers and sell products to existing customers.
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Rocket Fuel, Inc (U.S.), Neustar Inc (U.S.), Adobe Systems Inc (U.S.), KBM Group LLC (U.S.), Krux Digital Inc (U.S.), Oracle Corporation (U.S.), Turn Inc (U.S.), Informatica (U.S.), SAP SE (Germany), Cloudera Inc (U.S.), Lotame Solutions Inc (U.S.), SAS Institute (U.S.), are some of the top players in the worldwide data management platform market.
Growth Drivers and Top Barriers:
Data management platform helps users target customers anywhere and anytime during real-time and long-term campaigns. Other than this, this platform also possesses a few advanced features like tag management, audience segmentation, audience analytics, campaign analysis, and media integration. The global data management platform market is going strength to strength, given the rising demand for better data management by advertising agencies and marketers. Advertisers are now buying media across a vast range of sites from numerous distributors owing to the surge in advanced technology.
A prominent advantage of Data Management Platform (DMP) Market is its ability to connect every activity of the advertiser with the viewer’s data as well as the resulting campaign into a single site. Following this, it helps make use of that data to improve future media buys as well as ad creatives. This data is then pooled and collected from a broad range of sources, including sites, applications, customer relationship management (CRM), ordered content, analytics systems, and content management system (CMS). Presently, data management platforms are best used for combining data from different sources and then categorize users to diverse groups depending on their performance pattern. This aspect has prompted numerous marketers to adopt data management platforms, which subsequently works in favor of the data management platform market.
Furthermore, there are various sources of first-party data collection that are evolving, including, information gathered from wearable technology, automobiles, and television set-top boxes. Thus, Internet of Things (IoT) has turned out to be a significant factor backing the growth of the data management platforms market across the globe.
The worldwide data management platform market has been segmented depending on the data type, data source, and end-users.
With respect to the data type, the segments are first party, second party, and third-party data. Between these, the first-party data is considered to be highly critical data as the source of data collection is directly connected to the brand. These are generally existing customers or even potential customers. Marketers and advertising agencies make use of this kind of data to transform potential users into customers, in addition to selling products to existing customers. As a result, the first-party data segment has bagged the top spot in the market, with the highest share. However, the third-party data segment is showing lot of promise, given its steady growth in the market.
Data source-wise, the data management platform market can be considered for mobile web, web analytics tools, CRM data, mobile apps, social networks, and POS data among others. Among these, mobile apps, web analytics tools, POS data, and social network account for substantial share, in terms of data collection.
The end-users in the data management platform market are marketers, publishers, and ad agencies.
The data management platform market is spread across the main regions of Europe, North America, Asia Pacific (APAC) and the Rest of the World (RoW).
North America is projected to be the leading market for data management platform in the conjectured timeframe, thanks to the advancements in next-generation technologies, especially in the United States (U.S.) and Canada. High provision of digital marketing capabilities in the region could stimulate market growth in the coming years. Additionally, the region notes the widespread deployment of communication technologies as well as IoT, which significantly benefits the data management platform market.
The APAC data management platform market is currently in the second position among all the regions. The market’s rapid growth pace is the result of the proliferation of online marketing business. Rising number of ad agencies, publishing and marketing companies also has a profound effect on the regional market. Considerable investments by renowned players for developing efficient DMP systems has led the market to greater heights in recent years. India, Japan, and China are the most profitable markets for data management platform (DMP) within the region.
The data management platform market in Europe is observing steady growth, by virtue of the high adoption rate of DMP across a large number of advertising companies. Surge in technological advancements has given way to numerous connected devices that facilitate the use of data sharing across diverse platforms. These factors are bound to make a substantial difference in the market dynamics, helping it expand further during the review period.
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