Customer Data Platforms (CDPs) are undergoing a significant identity crisis ten years post-emergence, as they transition from a must-have to uncertain status. Despite generating over $5 billion in revenue in 2023, expectations have outstripped capabilities, leading to feature bloat and a fragmented market. Vendors are now competing to add redundant features rather than focusing on core functions, resulting in confusion about what qualifies as a true CDP. This situation highlights a broader trend of overstretching market definitions, raising questions about future developments.
The category's splintering, the label is losing meaning and vendors are scrambling for new names.
The expectation was that CDPs would do it all: tag management, ID resolution, personalization, journey orchestration, and even clean the kitchen sink.
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