TECH SUPPLIER Jul 2021 - Market Share - Doc # US48052920
Worldwide Customer Data Platform Market Shares, 2020: The Flight to First-Party Data Is On, and CDPs Win Big
This IDC study presents estimated 2020 customer data platform (CDP) software revenue shares in a total market valued at $1.3 billion. IDC expects significant change in the structure of the CDP market now that several major IT vendors including Adobe, Oracle, Microsoft, Salesforce, SAP, SAS, and Teradata are in market. These companies do not yet have market presence that challenges the CDP pure-play incumbents, but as they exert market power through their sales and partner enablement programs, IDC expects rapid acceleration in these businesses.
"Customer 360, privacy, and real-time personalization are driving the need for enterprise to manage customer data as a service," said Gerry Murray, research director, Marketing and Sales Technology research practice at IDC. "Siloed customer data is a competitive disadvantage; it inhibits end-to-end customer experience management, journey orchestration, and privacy and compliance capabilities and ultimately represents a huge innovation debt to the business. Providing customer data as an enterprise service requires a cohesive ecosystem of which CDPs are a foundational technology."
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