A recent Persistence Market Research report analyzes the growth trajectory of the global data management platforms market for a period of 10 years from 2018 to 2028. According to the report, revenue from the global data management platforms market is expected to increase from an estimated $1,656.4 Million by 2018 end to $5,849.8 Million towards the close of 2028, witnessing a growth rate of 13.4%.
- Players addressing the lucrative markets on the Asian continent for sustained revenue growth.
- North America holds the highest value share in the global data management platforms market, with the market in SEA and Others of APAC projected to witness high growth in the coming decade.
- Companies operating in the global data management platforms market are targeting the growing markets in the Asia Pacific and Middle East & Africa regions to cement their footing in the global market and enhance business profitability.
- Cloud-based data management platforms witnessing burgeoning adoption across global enterprises.
- Increasing Adoption of Data Management Platforms in the BFSI Sector to Fuel Revenue Growth of the Global Market
- Emerging Economies to Provide Lucrative Growth Opportunities to Data Management Platforms Vendors
Factors anticipated to drive demand for and adoption of data management platforms in emerging regional markets include:
- Shift from campaign-based approach (with one-time collection of consumer data) to digital advertising (reuse of available data and information on consumer behavior)
- Focus on niche customer segments that can be targeted using advanced data management platforms
- Increase in advertising expenditure among business enterprises
- These factors are expected to create new growth vistas in the emerging markets of Asia Pacific and Latin America for vendors in the global data management platforms market.
For more details, request a sample of the report.