I’m pleased to announce the publication of The Customer Data Platforms In Asia Pacific Landscape, Q1 2024 report. This comprehensive report features 22 vendors with $5 million or more annual customer data platform (CDP) revenue from the APAC market.

Most vendors are still in the early stages of developing their business in APAC, indicating that the market is still emerging compared to more established markets such as in North America. CDPs have made significant progress in APAC since we published previous vendor research and The State Of Customer Data Platforms In Asia Pacific report. Key highlights include:

  • Rapid revenue growth. Despite lower adoption and investment from marketers than cross-channel marketing hubs (CCMHes), the CDP market in APAC is experiencing significant growth. Average revenue for CDP vendors in APAC has doubled in the past two years, although none have reached Forrester’s $100 million revenue threshold for medium vendors. Despite being small, homegrown CDPs such as Antsomi and Meiro in Singapore, beBit TECH in Taipei, and n3 Hub in New Zealand serve as valuable options by catering to local marketers’ needs.
  • Local vendors adding or pivoting to CDP. China’s internet giants Alibaba, ByteDance, and Tencent have launched standalone CDPs under their respective tech subsidiaries. Australia-based Lexer has evolved from a social media monitoring tool into a CDP. Singapore-headquartered Capillary Technologies has expanded its martech portfolio by adding a CDP to its portfolio of loyalty and CCMH solutions.
  • Global vendors increasing their presence in APAC. In general, global CDP vendors’ businesses in the region are smaller but growing rapidly compared with their home markets. Established vendors like SAS, Treasure Data, and Twilio have built larger customer bases and increased revenues. Despite being newcomers to the CDP market, Adobe and Salesforce are growing quickly by cross-selling to existing customers in the region. Smaller vendors such as mParticle are also attracting more customers in the region.

The report delves into key market dynamics of CDPs in APAC, including main trends, primary challenges, and top disruptors. It also provides insights on notable vendors’ geographic and industry focuses, deployment options, and sizes. The report covers core and extended CDP use cases, as well as key functionality by use case. Furthermore, it offers guidance on working with these vendors and examines the future direction of the market.

Forrester clients can access the full report to learn more about these details and explore CDP options in APAC. They can also schedule an inquiry or guidance session to further discuss the findings.