Global Data Management Platform (DMP) Market size is forecast to reach $2,760 million by 2025, estimated to grow at a CAGR of 12.69% during 2020-2025. The growing need to collect data from the sources such as CRM data, POS data, Mobile web & Apps, social networks, 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 2020-2025.
End-user – Segment Analysis
Advertisers segment held the largest market share in the Data Management Platform market in 2019. 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.
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Geography – Segment Analysis
In 2019, North America dominated the Data Management Platform market with a share of more than 41.66%%, 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.
Drivers – Data Management Platform Market
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.
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Challenges – Data Management Platform Market
Lack of Competence
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Data Platform Management market. In 2019, 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.
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 December 2018, 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
In 2019, the Data Management Platform market was dominated by North American region owing to 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.
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