Data Management Platform (DMP) Market

Data Management Platform (DMP) Market Size

Data Management Platform (DMP) Market size was USD 1.93 billion in 2021 and projected to grow from USD 2.5 billion in 2023 to USD 8.7 billion by 2032, exhibiting a CAGR of 14.7% during the forecast period.

Data Management Platform is a software used to gather and manage data. It helps companies to recognize audience segments, which targets particular contexts and users in online advertising operations. This platform could use artificial intelligence and big data algorithms to practice and analyze huge data sets regarding users from various sources. Advantages of DMPs comprise better insight on markets and audiences, data organization, and effectual advertisement budgeting.

Market Highlights

Data Management Platform (DMP) Market is expected to project a CAGR of 14.7% during the forecast period, 2022-2032

Data Management Platform (DMP) Market is expected to reach USD 8.7 billion, growing at a CAGR of 14.7% during the forecast period owing to the growing demand for data collection from different sources like CRM data, POS data, web analytics tools, Mobile apps & web, social networks, and more. Furthermore, the use of Data Management Platform for advertisers to target clients and satisfy customer demands across devices is expected to boost the growth of Data Management Platform (DMP) Market over the forecast period.

Data Management Platform (DMP) Market Segmentation

First Party segment is expected to dominate in the forecast period

Data Management Platform (DMP) Market is classified based on the Data Type into First Party, Second Party, and Third Party. The First Party Data category will register major market share in the upcoming years. First-party data is the extremely important data since it comes from a source that has a direct connection to the brand. These are either potential or current clients. Data management platforms are frequently used due to marketers' use of this data to close sales to current customers and turn prospects into buyers. These factors are fuelling the First Party segment growth.

Social Network segment is expected to dominate in the forecast period

Data Management Platform (DMP) Market is classified based on the Data Sources into Web Analytics Tool, Mobile Web, Mobile Apps, CRM Data, POS Data, and Social Network. The Social Network segment is anticipated to be the dominating segment in the market over the forecast period. The most popular social media platforms used by businesses to advertise their services and goods are Instagram, Facebook, and Twitter. These social media networks gather data and employ it to market products to users

Market Dynamics                                         

Growth Drivers

Use of IoT and Data Management Benefitting Marketers and Advertisers are Expected to Boost the Market Growth

The demand for improved data management from ad agencies and marketers is driving the growth of the Data Management Platform (DMP) Market. Owing to technology advancements, advertisers are now able to buy media from a multiple distributors and websites. This perception has encouraged many marketers to use data management platforms, which is boosting the Data Management Platforms (DMPs) Market. Hence, the IoT is a key factor in the global demand for data management services.

Number of Benefits offered by Data Management Platform are Expected to Boost the Market Growth

Information sources pertaining to the product, suppliers, locations, and customers are the focus of data management. By using DMP, unnecessary and costly inefficiencies caused by illegible stored data are eliminated. Furthermore, it addresses the need for businesses to improve their primary data assets quality like their customer, product, location, and asset databases. Also, industry participants are working to produce new items. These are a few other driving factors of the Data Management Platform (DMP) Market.

Restraint

Dependency on Several Technologies and Lack of Skilled Labor to hamper the Market Growth

The DMP requires connections to several technologies for operation. Also, adopting a DMP requires competent individuals who are conversant with HTML, JavaScript, and other languages. Hence, the Data Management Platforms (DMP) Market is not expanding due to a shortage of skilled labor.

Recent Developments

• Innovid announced a partnership with Kinetiq in December 2022 to integrate 2 x 2 ad-occurrence (linear) data into InnovidXP, the cutting-edge measurement platform designed for convergent TV. The incorporation of Kinetiq data creates a unique and major source of robotically identified TV ad airings which covers the convergent market when combined with Innovid's CTV footprint.

• Innovid, an independent platform for TV analytics and advertising, revealed in May 2021 that it has hired a number of senior product, business development, and industry vertical experts to further elevate and carry out its vision for measurement and identity.

Data Management Platform (DMP) Market

Key Players Covered:

• Google
• Oracle Corporation
• Salesforce
• Adobe Systems Inc
• Cloudera INC
• NeuStar Inc.
• Amobee
• MediaMath Inc.
• Lotame Solutions Inc
• V12 Data
• Permutive
• Piano Software Inc.
• Exelate
• Crux Digital INC
• OnAudience
• Other Prominent Players (Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis)

Regional Analysis

Data Management Platform (DMP) Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. North America is projected to registered considerable share due to quick adoption of technological improvements. The region is anticipated to hold the largest share of the Data Management Platform (DMP) Market due to the rising number of online clients and internet penetration. Asia Pacific is also anticipated to develop quickly throughout the projected period since many businesses are increasingly moving their network infrastructure, data centers, and software to the cloud, allowing them to reduce operational expenses while also giving easy access to the database.

Impact of Covid-19 on Data Management Platform (DMP) Market

The global Data Management Platform (DMP) Market’s post-pandemic performance has been comparatively less dreadful. New coronaviruses forced the market to provide new opportunities so that businesses looking for dependable, well managed, scalable, subscription-based solutions can concentrate more on their core competencies. Compared to most other tech sectors, the global Data Management Platform (DMP) market was less affected by the COVID-19 epidemic.

Data Management Platform (DMP) Market is further segmented by region into

• North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada

• Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
• Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
• Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
• Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA

Data Management Platform (DMP) Market Scope and Segments:

Frequently Asked Questions (FAQ):