From GlobeNewswire: 2024-11-19 09:00:00

The Customer Intelligence Platform Market was valued at USD 2.5 billion in 2023 and is projected to reach USD 22.1 billion by 2032, growing at a CAGR of 27.4%. Key trends driving market growth include AI-powered predictive analytics, real-time data integration, and cloud-based solutions.

Major players in the CIP market include Acxiom, Adobe, Google, IBM, iManage, Informatica, Microsoft, Oracle, Proxima, and Salesforce. These companies offer a range of CIP solutions to help businesses consolidate and analyze customer data for personalized marketing strategies and improved customer experiences.

The growing reliance on data for business decisions is fueling the adoption of Customer Intelligence Platforms, enabling personalized marketing and enhanced customer experiences. Businesses are increasingly turning to CIP solutions to provide real-time, tailored services across various channels to boost customer satisfaction and loyalty.

Customer Intelligence Platforms are now being applied beyond marketing and sales to areas like customer service, product development, and supply chain optimization. By integrating CIP with customer service platforms, businesses can improve resolution rates and provide more personalized support, while also meeting the demands of omnichannel retailing.

In 2023, the platform segment dominated the CIP market, capturing over 66% of total revenue. This growth is driven by the adoption of customer intelligence software platforms that centralize customer information for personalized interactions and targeted marketing strategies. The service segment is also expected to grow, offering professional services and managed services for efficient CIP system operation.

The customer experience management (CXM) segment is essential in the CIP market, accounting for 21% of the market share. With customer experience a top priority, CIP solutions play a crucial role in enhancing CXM strategies for businesses looking to provide seamless customer interactions across various touchpoints. Customer Intelligence Platform Market segmentation includes components, data channels, deployments, applications, enterprise sizes, and end uses. North America leads the market with a 37% share, driven by advanced technology and customer-centric businesses. Asia-Pacific is expected to grow due to the e-commerce sector. Recent developments include Salesforce’s AI-driven CDP and Microsoft’s partnership with SAS to enhance CIP capabilities.



Read more at GlobeNewswire: Customer Intelligence Platform Market to Hit USD 22.1