target audience: TECH SUPPLIER Publication date: Jan 2023 - Document type: Market Analysis Perspective - Doc Document number: # AP49890122
Market Analysis Perspective: Asia/Pacific Customer Data Platforms: The Customer Data Foundation for Empathetic Experiences
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Abstract
The IDC Market Analysis Perspective report delivers a concise view of the customer data platform (CDP) market in Asia/Pacific including Japan (APJ). Technology suppliers' sales, marketing, and product leaders can use this information to understand emerging trends driving CDP adoption, buyer needs, competitive assessments, and recommendations to long-term market opportunities.
IDC expects the APJ CDP market to triple from $411 million in 2021 to $1.2 billion by 2026, growing at 24.9% per annum. This demand is driven in part by the shift to digital business and digital-first CX. In the era of digital business, technology buyers must unify customer data to enable contextualized and empathetic digital engagements in real-time. To capture this opportunity, CDP suppliers must elevate CDP positioning beyond customer data unification to be the enterprise customer data foundation that enables real-time interactions and orchestrates omnichannel experiences. At the same time, focus on helping technology buyers democratize data use beyond traditional marketing use cases. To do so, technology suppliers must demonstrate CDP capabilities and use cases to data users that allows them to improve data quality, increase marketing effectiveness, and better workflow augmentation of marketing users.