Data management platform is a central hub that stores huge volumes of data that is subsequently used by advertisers and marketers. The stored data needs to be organized, sorted, translated, and shared with the appropriate parties including marketers, publishers, and other businesses. This platform has the capability to manage and control any kind of information.
The data management platform has several facilities such as data classification, data collection, data transfer, data analysis, and scalability. Data management platform enable users to target the customers anywhere, anytime during long term and real time campaigns. Apart from this, data management platform also offers some advanced features including audience segmentation, tag management, media integration, audience analytics, and campaign analysis.
The global data management platform market is witnessing growth owing to growing demand for better data management by marketers and advertising agencies. Advertisers now purchase media across a wide range of sites and through numerous distributors due to the rise of advanced technology. The major advantage of a data management platform is that it can connect all the advertiser’s activity with viewer’s data and resulting campaign into one combined site and use that data to enhance future media buys and ad creatives. The data is pooled and collected from a wide range of sources, such as applications, sites, ordered content, customer relationship management (CRM), content management system (CMS), and analytics systems.
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However, one of the major disadvantages of this platform is that without being connected to different technologies, it independently cannot do much. At present, data management platforms can simply combine data from various sources and also categorize users to different groups based on their performance pattern. This perception has also forced many marketers to adopt data management platforms, which is consequently fueling the growth of the data management platform market. In addition, there are different sources of first party data collection which are evolving such as television set-top boxes, information gathered from wearable technology, and automobiles. Therefore, Internet of Things is also a major factor which is impelling the demand for data management platforms across the world.
The global data management platform market can be bifurcated on the basis of type, end-user, and geography. By type, the market can be segmented into open platform data management platform and private data management platform. In terms of end-user, the market can be categorized into ad agencies, marketers, publishers and other businesses. Currently, marketing and advertising agencies are unceasingly adopting data management platforms, as this platform offers several benefits such as higher productivity, control of data, financial gains & cost savings, transparency & accountability, long term business strategy, and decision making.
Based on geography, the global data management platform market can be segmented into North America, Europe, Middle East & Africa, South America, and Asia Pacific. Among these geographies, North America is expected to dominate the data management platform market over the forecast period. This primarily due to the presence of favorable macro micro economic factors and well-established players across the region, thus contributing to the development of advanced technologies. However, rapid growth in media and advertising industry across emerging economies such as Middle East & Africa, Asia Pacific, and South America is further anticipated to drive the demand for data management platforms across the world.
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Major players in the global data management platform market are Actian Corporation, BMC Software, Inc., CA Technologies, Inc., Hitachi Ltd., IBM Corporation, Microsoft Corporation, Oracle Corporation, Cloudera, Inc., InterSystems Corporation, Compuware Corporation, Embarcadero Technologies, Inc., Informatica Corporation, MarkLogic Corporation, and SAP SE.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.