The Customer Data Platform Industry continued its rapid growth in the first half of 2019, according to the CDP Institute‘s semi-annual Industry Update. The industry added nineteen vendors and raised $317 million in new capital during the period while employment was up 71% over the previous year.
Major shifts in the market included expansion in Europe, EMEA, and APAC. Fifteen of the nineteen new CDP vendors are from outside the U.S. The Institute also confirmed its projection for the CDP industry to reach the $1 billion revenue in 2019.
Other milestones the report were:
- More Funding. Cumulative funding for the industry grew by $680 million, reflecting funding during the period plus previous funding for vendors just entering the industry.
- Strategic acquisitions. The period saw two CDP acquisitions: data integration specialist Allsight by Informatica and B2B CDP Lattice Engines by Dun & Bradstreet. Neither buyer is primarily a marketing system vendor, illustrating the value that companies in related sectors now see in CDP functions.
- Operational CDPs. The period also saw addition of three vendors with a primarily operational focus: two customer success systems (Gainsight and Totango) and one in healthcare (Healthgrades). These firms represent the leading edge of a new class of CDP vendors that is expected to grow rapidly.
- Marketing Cloud entrants. Salesforce, Adobe, and Oracle all announced future CDP products that are expected to be available before the end of 2019. These attracted new attention and are expected to substantially expand CDP awareness and adoption.
The Customer Data Platform Institute educates marketers and technologists about customer data management. The Institute publishes industry news and educational materials, provides vendor comparison reports, builds directories of industry vendors and service firms, and offers Webinars, workshops, and consulting on related issues.
Customer Data Platforms are defined as “packaged software that maintains a unified, persistent customer database which is accessible to external systems.” They are the only types of packaged software specifically designed to create and share a complete view of each customer. Institute Founder and CEO David Raab named the Customer Data Platform category in 2013.
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