Data Management Platform is a data warehouse that collects large amount of data, sorts it according to various verticals and stores it and finally releases information in a way which is useful for marketers, publishers and other businesses. They harbor and manage any form of information. For a marketer, DMP’s usually manage cookie IDs which are used to generate various audience segments, which are in turn used to target online ads to specific set of users.
Due to the rise of ad technology, advertisers now buy media across a vast array of sites and through various middlemen. The advantage of a Data Management Platform is that it can link all the advertiser’s activity with audience data and resulting campaign into one consolidated location and use that data to optimize future media buys and ad creative.
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Hence Data Management Platform is the most beneficial to marketers, agencies and publishers. But one of the drawback of a DMP is without being linked to another technology, it single-handedly cannot do much. Therefore usually the information of a DMP is fed into a Demand Side Platform (DSP) which helps to inform ad buying decisions.
Marketers can make use of Data Management Platform for the following
- Import data
- Match customer IDs
- Collect new data
- Help define groups
- Provide access to data vendors
- Estimate price and reach
- Suggest new groups of people to target
- Use above information to buy advertising
- Generate reports
Data Management Platforms Market: Drivers and Challenges
The presence of digital marketing plays a vital role in the growth of data management platforms market. The marketing and advertising agencies have grown more competitive over the past few years, also personalization of ads to various target markets has increased which has led to many agencies adopting DMPs. DMPs can easily unify data from multiple sources and also segment the users to different categories based on their behavior pattern. This intuitiveness has driven many marketers to shift to DMPs.
Also, there are new sources of first party data which are emerging such as TV set-top boxes, data collected from automobile and wearable technology. Hence, Internet of Things is one of the major driving factors of marketers adopting DMPs.
The challenges that are being faced are that sometimes based on the information available from a DMP, a marketer may come up with some strategy, but it becomes counterproductive if the user has already purchased that item from somewhere else. Also, many a times it happens that users just browse through websites to check out a certain product, but never end up purchasing it. In that case the time and resource invested in formulating a strategy for such kind of users will go to vain.
Key Market Players
The major players present in the Data Management Platforms Market are Adobe Systems, Inc., Oracle BlueKai, IgnitionOne, Inc., Rocket Fuel, Inc., NeuStar, Inc., MediaMath Inc., V12 Group Inc. and Lotame Solutions Inc.
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Regional Overview
Currently North America is dominating the Data Management Platforms market due to maximum advancement in technology. Asia Pacific is gradually rising in this market, as it is directly related to the population of a place. Hence over the years, APAC market will gradually rise.
Regional analysis for Data Management Platforms Market includes development of these systems in the following regions
- North America
- Latin America
- Europe
- Asia Pacific
- Japan
- The Middle East and Africa
Data Management Platforms Market: Segmentation
Segmentation On The Basis Of Type:
- Open Data Management Platforms: The access to data is more open for third party agencies. The data which is collected via Open DMPs is related to demographic and audience data, website information and other advertising related data.
- Private Data Management Platforms: They can be either used along with open DMPs or can be used as a standalone platform. This data includes information on user profiles and client purchases.
Segmentation On The Basis Of End-User:
- Advertisers: Can segment their customers and also target new customers
- Publishers: Can sell their specific solutions for target audience to advertisers
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