Pune, Sept. 13, 2018 (GLOBE NEWSWIRE) -- Database Management Platform Market: By Data Type (First Party Data, Second Party Data, Third Party Data), By Data Source (Web Analytics Tools, Mobile Web, Mobile Apps, CRM Data), End-User (Ad Agencies, Marketers, and Publishers) – Global Forecast till 2023
Database Management Platform (DMP) Market
Database management has experienced healthy growth over the last few years due to the rising volumes of data being generated and the increasing importance being placed in data analytics. Market Research Future (MRFR) analyzed the global database management platform to provide unique insights and capture critical market figures which include growth at an above average CAGR of 15% during the forecast period of 2017 to 2023. Database management is growing increasingly sophisticated and being used extensively by marketing professionals, due to this and several other factors the global database management platforms market is anticipated to achieve a market value of USD 3,506 Mn by the end of 2023.
Database management platforms allow business organizations to collect, and organize data for the purpose of analysis which can then be translated into efficient and successful marketing strategies and campaigns. The massive volume of data which is generated on a regular basis has increased the demand for the above. Diversification of the competitive landscape has increased the importance of data analysis which drives the demand for database management platforms. Moreover, consumers across the globe have adopted smartphones and other personal devices which allow them to share data over wireless networks.
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Advertising agencies, marketing departments of business organizations and others are increasingly adopting database management platforms to tap into and record this data in an effort to avoid wastage of ad time/space. Increased efficiency in marketing efforts and the potential for customer engagement are among the drivers of Data management platform market. Increasingly, there is a high demand for personalized content which relies on the recording of various consumer preferences; this has impacted the market significantly as database platforms play a vital role in personalizing content. Additionally, growing development and implementation of artificial intelligence and machine learning for the development of highly personalized content requires the use of database management platforms. As a result, the proliferation of the database management platform market is anticipated.
Stringent regulations regarding the recording of consumer data are expected to hinder market growth. Moreover, advancing technology has made database management technically complex, which poses a challenge to market growth. However, the proliferation of digital advertising and the increased demand for personalized marketing content is expected to produce opportunities for market growth in the foreseeable future.
Market Segmentation
MRFR's segmental analysis of the global database management platform analyses the nuances of the market on the basis of data source, data type, end-user, and region. By data source, the market is segmented into mobile web, CRM data, mobile apps, web analytics tools, social network, POS data, and others.
By data type, the Database Management Platform Market is segmented to include first-party data, second party data, and third-party data. Among these, the first party data type accounts for the largest share as it is the most valuable type of data which is collected directly from consumers. Meanwhile, third-party data is expected to grow at the highest CAGR of 17.76% over the review period.
By end-users, the DMP market consists of marketers, publishers, and ad agencies. Ad agencies make up the largest segment of the market while the publisher segment is poised to witness the highest growth at a CAGR of 16.35% during the forecast period.
Promising Outlook in Asia Pacific Due to Changing Consumption Patterns
MRFR's observations put the North American regional segment in leading position. Led by the U.S, there is a high adoption of e-commerce in the region with more consumers shopping online than ever before. The presence of strong network coverage, widespread internet usage, and a highly consumerism based culture has significantly encouraged the growth of the database management platform market. Moreover, there is a concentration of leading market players in the U.S, and the ad agencies in the region are quick to adopt the latest in marketing technology.
Meanwhile, the Asia Pacific is an emerging market which is well positioned to witness the highest CAGR over the forecast period. The presence of a large consumer population whose consumption patterns are changing due to urbanization, globalization, and liberalization is expected to increase the demand for database management platforms in the region. Moreover, there is a strong presence of major IT players in the region and SMEs which provide database management services. The potential the market presents will likely be identified and leveraged in the coming years.
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Key Players
MRFR has identified several market leaders in the global database management platforms market and has conducted comprehensive research with regards to market strategies adopted by these market players. Prominent players included in the report are Rocket Fuel Inc., V12 Data, Oracle Corporation, Turn Inc., SAP SE, Salesforce Inc., SAS Institute, Cloudera Inc., Lotame Solutions Inc., Informatica, Neustar Inc., and KBM Group LLC among others.
Latest Industry News
Amazon Web Services, in partnership with VMware, has announced a new version of AWS's cloud-based database management platform which has been exclusively designed for VMware managed data centers.
IBM has applied for a patent for a database management system which uses blockchain database technology.
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