Press release
Hyper Personalization Market Size Forecasted To Achieve $49.6 Billion By 2029 With Steady Growth
Hyper Personalization
What Is the Hyper Personalization Market Size and Projected Growth Rate?
The hyper personalization market size is forecast to grow from $21.79 billion in 2024 to $25.73 billion in 2025, at a CAGR of 18.1%. The growth is attributed to increased internet usage, growth of e-commerce, rising consumer demand for personalized experiences, expansion of mobile technology, and greater availability of big data.
The hyper personalization market is forecasted to reach $49.6 billion in 2029, growing at a CAGR of 17.8%. Growth is driven by increased demand for personalized customer experiences, a growing volume of consumer data, rising digital and e-commerce platforms, and the need for customer engagement. Major trends include AI and machine learning integration, omnichannel strategies, data privacy advancements, predictive analytics, and improved recommendation sy
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What Are the Major Segments in the Hyper Personalization Market?
The hyper personalizationmarket covered in this report is segmented -
1) By Type: Cloud-Based, On-Premise
2) By Component: Software Solutions, Services
3) By End-User Industry: Banking, Financial Services, And Insurance (BFSI), Retail, E-Commerce, TH*Care And Life Science, Media And Entertainment, Education, Other End-Use Industries
Subsegments:
1) By Cloud-Based: SaaS (Software as a Service) Solutions, Cloud-Based Data Analytics Platforms, API-Driven Cloud Services
2) By On-Premise: On-Premise Software Solutions, Customizable On-Premise Platforms, Integrated On-Premise Systems
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What Are The Driving Hyper Personalization Market Evolution?
The growth of the e-commerce sector is contributing to the expansion of the hyper personalization market. E-commerce's evolution is driven by rising internet access, smartphone use, logistics improvements, and digital payment systems. Hyper personalization enhances customer experiences through tailored recommendations and targeted marketing strategies. In August 2024, the US Census Bureau reported a 6.7% increase in second-quarter 2024 e-commerce sales compared to the same quarter in 2023, while total retail sales rose by 2.1%. As a result, the growing e-commerce landscape is advancing the hyper personalization market.
Which Firms Dominate The Hyper Personalization Market Segments?
Major companies operating in the hyper personalization market are Google LLC, Microsoft Corporation, PepsiCo Inc., Amazon Web Services Inc., accenture* plc, International Business Machines Corporation, Oracle Corporation, SAP SE, Salesforce Inc., Cognizant Technology Solutions Corporation, Adobe Inc., Infosys Limited, Experian PLC, SAS Institute Inc., HubSpot, Klaviyo, Algolia, emarsys eMarketing Systems, MoEngage, Dynamic Yield Ltd., Velocify, Clearbit, Sailthru Inc., Taplytics Inc., RichRelevance
What Trends Are Expected to Dominate the Hyper Personalization Market in the Next 5 Years?
Companies in the hyper-personalization market are focusing on generative AI-powered platforms to offer highly personalized customer experiences. These platforms analyze user data to create tailored content and product recommendations in real time. In May 2024, Newgen Software, an India-based company, launched LumYn, a generative AI-powered platform for hyper-personalization in the banking sector. The platform leverages predictive intelligence and conversational AI, with features like behavioral segmentation and pre-built AI models for rapid insights, enhancing customer engagement and cross-sell opportunities.
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Which Is The Largest Region In The Hyper Personalization Market?
Asia-Pacific was the largest region in the hyper personalization market in 2024. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the hyper personalization market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Hyper Personalization Market?
2. What is the CAGR expected in the Hyper Personalization Market?
3. What Are the Key Innovations Transforming the Hyper Personalization Industry?
4. Which Region Is Leading the Hyper Personalization Market?
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