Market Research Report
Worldwide Customer Data Platform Forecast Update, 2020-2024: COVID-19 Cuts $3.0 Billion Over Five Years
|Published by||IDC||Product code||953870|
|Published||Content info||10 Pages
Delivery time: 1-2 business days
|Worldwide Customer Data Platform Forecast Update, 2020-2024: COVID-19 Cuts $3.0 Billion Over Five Years|
|Published: August 10, 2020||Content info: 10 Pages||
This IDC study updates IDC's pre-COVID-19 forecast of the CDP market. The five-year CAGR was reduced by more than half, and the cumulative market value over the forecast period was reduced by $3.0 billion."The global economic slowdown caused by the COVID-19 pandemic has dramatically reduced our forecast for CDP solutions," said Gerry Murray, director, Marketing and Sales Technology Research at IDC. "We originally expected CDP market CAGR in the 20% range, now it's only about 10%. That results in a loss of $3.0 billion in revenue over the forecast period and puts smaller vendors in jeopardy depending on their funding and market focus. We expect to see a number of pivots, acquisitions, staff reductions, and business closures involving players that are not well positioned to survive against lower spending and increased competition."