Customer Data Platforms. CDP. Get used to that acronym, it’s here to stay. The newcomer platform has had a lot of hype, but it’s now proving its worth. The CDP industry has grown by 19 vendors, and raised $317 million in the first half of 2019 alone. And by the end of 2019? The industry is projected to be worth $1 billion.
The CDP Institute, headed by David Raab, cites that growth into Europe, APAC, and other new markets has played a huge role in the rapid expansion of the martech platform. 15 of the world’s 19 newest CDP offerings are from outside of the U.S. according to CDPI’s half-yearly report. Overall funding of CDPs grew by $680 million, there have been several acquisitions, and big cloud players have announced their CDP iterations.